The copper country evening news. [volume] (Calumet, Mich.) 18??-1907, 1897-05-14
THOMAS JEFFERSON.
The ORIGINAL DEMONSTRATION OF
SILVER WAS EFFECTED BY
JEFFsRSON'S ORDER.


II Was st All Times opposed TO Cheap
Money aud Reputation OF Debts-Be-
loved That Coinage Ratio should stick
Close TO the Market Ratio Favored Use
of Both Metals but showed Moderate
/ Preference -'or Gold Could Not Have
stood On the Chicago Platform.
Thomas jefferson was a patriot ana
statesman of the highest order. 1t Is
proper for all true Democrats TO cele.
brate his birthday, April 10, and to
commemorate his many excellent quail
tiles, but why should those who voted
In 1896 to repudiate debts and to cheap
Ell our dollar by attempting TO fix an
artificial ratio between gold and silver
widely different from the market ratio
meet 10 honor, or dishonor, Jefferson's
name? Is there anything in his writings
or his conduct 10 indicate that he would
have been cheap money and repudia-
tion Democrat?
In 1888 Mr.. jefferson wrote:
The proportion between the value Of gold
and silver i a mercantile problem altogether.
.-' just principles viii lead Us TO disregard
legal proportions altogether to inquire into
the market price OF gold IN the several coun-
tries with which we shall principally be con
nected in commerce and TO take an average
from them.
Does this sound like the silver plank
OF the Chicago platform:
In letter 10 Mr. Hamilton in Feb
ruary, 1892, Mr. jefferson expressed his
opposition TO cheapening the dollar or
reducing the monetary unit. He said of
the dollar:
very much doubt right now to change the
value, and especially TO lessen il. II would |
lead 20 so easy mode Of paying off their |
debts Should it be 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 to
keep the unit of money a part Of the system
of measures, weights and coins.
The original decentralization Of sill
yer" was effected by the following or
der from Thomas jefferson:
DEPARTMENT OF STATE, May 2, 1906
SIR-ln consequence of a representation from
the directors of the Bank of the United States
hat considerable purchases have been made
IF dollars coined Mt the mint for the purpose
If exporting them, and as it is probable fur
her purchases and expectations will be made,
he president Thomas Jefferson) directs that
Ill silver to be coined Mt the mint shall be of
mall denominations, so that the value of the
argest piece shall not exceed half dollar.
JAMES MADISON
ROBERT PATTERSON, Esq.
Director of the Mint.
Except 1000 pieces, no more silver
lollars were coined till after Andrew
Jackson retired from the presidency.
1t is clear from Jefferson's writings
hat he favored the use of both metals,
mt only at their natural ratio in the
worlds markets. He seems to have had
N instructive fear that people who wish
d an "easy mode of paying off their
ebts' would attempt to fix our coin
ge system independent of the worlds
narkets. His policy at all times was to
tick close TO the natural ratio.
His desire to ascertain the market ra.
10 between gold and silver and adopt
hat as the legal ratio is shown again
n his supplemental notes. Works, edi-
ion OF 1903, volume /, page 10, written
4 1888 or 1884, when he suggests that
le committee of the states be instructed:
To appoint also proper persons TO inquire
NAT are the proportions between the values
fine gold and fine silver at the markets Of
he several countries with which we are or
ay probably be connected in commerce. and
nat would be proper proportion here. hay
y regard to the average of their values at
lose markets and TO other circumstances,
ld 10 report the SHINE TO the eotnrnit+aa In,
lem to be laid before congress.
Jefferson framed and had passed by
le Virginia assembly law by which
ne value of the paper money Of Amer
"A was settled "in sterling money OF
re lawful money of England -
If jefferson had been compelled TO
Moose between the two metals, he
ould undoubtedly have taken gold. In
is Notes" he observed that the high
rice which Spain paid for gold had "A
ndency to draw away gold and to
ave Us only silver. He thought, there
re, that I'VE might with safety lean
} proportion somewhat above par for
I'D. "
Free silver Democrats are not Jeffer-
N Democrats. They should either
Dandon their false doctrines or worship
another shrine