The Providence news. (Providence [R.I.]) 1891-1906, 1897-05-07
THOMAS JEFFERSON.
Original Decentralization of Silver
Effected by JcffersOn'S Order.
Was at All Times Opposed to Cheap
Money and Reputation of Debts.

Thomas Jefferson was patriot ana
statesman OF the highest order. 1t IL
| proper for all true Democrats TO cele-
brate his birthday, April IL. and to
commemorate his many excellent quail
titles, but why should those who voted
in 1896 to ropudiate debts and to cheap
en- our dollar by attempting to fix an
artificial ratio between gold and silver
! widely different from the market ratio
meet to honor, or dishonor. Jefferson's
name? Is there anything in His writings
| or his conduct 10 indicate that he would
have been a cheap money and repudia-
tion Democrat?
In 1888 Mr.. jefferson wrote:
The proportion between the value OF gold
and silver is "a mercantile problem altogether.
49, just principles will lead us to disregard
legal proportions altogether, 10 inquire into
the market price OF gold in the severalcoun-
tries with which we shall principally be con
nected I'm commerce and 10 take an average
from them.
Does this sound like the silver plank
Of the Chicago platform?
In letter TO Mr.. Hamilton in Feb
ruary, l792, Mr.. jefferson expressed his
opposition to cheapening the dollar or
reducing the monetary unit. He said of
the dollar:
1 very much doubt right now TO change the
value, and especially 10 lessen 1t. II would
lead to easy modo of paying OF their
debts Should IL lie thought however,
that congress may reduce the value of the dol
lar, should be for adopting for our unit, in
stead OF the dollar, either one ounce of pure
silver or one ounce of standard silver, so as 10
fhsag
of measures weights and coins
The original demonstration Of sill
yer" was effected by the following or
der from Thomas jefferson:
DEPARTMENT OF STATE, May 2, 1909.
SIR-In consequence Of a representation from
the directors Of the Rank Of the United States
that considerable purchases have been made
of dollars coined at the mint for the purpose
Of exporting them, and as it is probable fur
ther purchases and expectations will be made,
the president tThonas Jeiferson) directs that
all silver to be coined at the mint shall be OF
small denominations so that the value of the
largest piece shall not exceed half a dollar.
JAMES MADISON.
ROBERT PATTERSON, ESQ,
Director of the Mint
Except 1000 pieces, no more silver
dollars were coined till after Andrew
jackson retired from the presidency.
1t is clear from Jefferson's = writings
that he favored the use of both metals,
but only at their natural ratio in the
worlds markets. He seems to have had
an instructive fear that people who wish
cd dn 'easy mode of paying off their
debts" would attempt to fix our coin
age system independent of the worlds
markets. His policy at all times was to
stick close to the natural ratio.
His desire to ascertain the market ra-
ito between gold and silver and adopt
that as the legal ratio is shown again
in his supplemental notes, Works, edi-
tion Of 1858, volume l. page 10, written
in 1888 or 1884, when he suggests that
the committee Of the states be instructed:
To appoint also proper persons TO inquire
what are the proportions between the values
OF fine gold and fine silver at the markets uf
the severed countries with which we are or
may probably be connected in commerce, and
what would I've a proper proportion here, hay
ing regard TO the average of their values ut
those markets and To other circumstances,
and 10 report the same to the committee, by
them 20 be laid before congress.
jefferson framed and had passed by
the value of the paper money of Amer
lea was settled Gin sterling money or
the lawful money of England. "
If jefferson had been compelled to
choose between the two metals, he
would undoubtedly have taken gold. In
his "Notes" he observed that the high
price which Spain paid for gold had
tendency TO draw away gold and to
leave us only silver. He thought, there
fore, that I'VE might with safety lean
to proportion somewhat above par for
gold. "
Free silver Democrats are not Jefler-
son Democrats. They should either
abandon their false doctrines or worship
at another shrine
Not only acute lung troubles, which may
prove fatal in "a few days but old chronic
coughs and throat troubles may rece We i'm
mediate relief and lie permanently cured by
One Minute Cough Cure.
Joseph 4. Johnston's Pharmacy, S9} West
Ma4y