The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1897-10-04
Some yagaries Reviewed.
Salt Lake Tribune.

:
In answer to a correspondent the
courier-Journal pretends to give fair
history Of silver In the linked States.
We copy below : few extracts, leaving out
the Journals remarks. II says:
The act Of 1873 did not enact that silver
should no longer be coined 1t did not en-
act that il should no. be sold to the
manufacturers OF watches aud silver plate
or any others that might want il. On the
contrary, il provided for the UNLIMITED
coinage OF silver on private account, with
no charges for miatage above what It cost
tas government. A similar charge for
mintage was made for gold
statement like that to a correspondent
who wants the honest facts, may do in
Kentucky 1t would not in some States The
act of 1873 took from the silver dollar It's
function as a unit Of values, named what
silver coins should be minted, and limited
the legal tender function OF silver to IS.
The trade dollar was intended merely as
merchandise for the trade OF the Orient
The object was 10 kill silver as a measure
o. values and as legal tender for debts.
But seeing that the fact did not dernonetize
the ola standard dollar, in june. 1874. a
supple mshtary act was passed that reads
states shall be legal tender at their
nominal value in any amount not exceed
Ing 50 In any one payment
VI course that was calculated to make
every one anxious to get all the silver
possible, and it gives particular point 10
'ais from the Journal:
The passage of this act was followed nv
tne coinage OF silver a. a rate never be-
,o!e paraileled. In Eve years Sc 600 GOO
aoIlaT pieces were coined. and immense
sums OF subsidiary silver"
The dollars were trade, dollars, coined
for China. But the Journal says further;
The mint was established in 1882. The
rat.o OF silver and gold was fixed at l5
10 l, and remained so till 1884 Silver was
oyervaiued. and drove gold out OF elrc,,-
lstion. We were then on the silver stand
ard. In the foTtytwo years Com I7ea %
1884 the mint coined:
saver dollars ..........., &, 400 ~
Subsidiary coins ....... X: Sas sso
$1,000 $50, 275 on
that merely shows how poor che conn.
try was. We had no silver mines ali ,ha
SILVER oetainahle was through trade apa
the rating OF the Nation was on a level with
Egypt Further the Journal SAYS:
Thus our tccal coinage of fpI ,.,,,
.enoer silver from the foundation of fha
ssossrnment to 1873 was as follows:
ssss So '''......-.-.........S $50, 275. OF
$50 ,s s1e ''....'..-........... 4, 96S. ZIG
''' ''.''................ 5,47s 23S
Total $500
.s1r,. ''... '.'...- $A4 100 un1
mus for the first eighty-to,,r vs.r. :,
o our existence under the Constitution we
s .''m about a million dollars a wear !,
! III iesaI tender silver Betwean 1879 -
.sss we coined Of silver dollars $3.50 AZ sS7
~ !. an average OF over $50, ooo. 900 a wear
:. NH pe seen that the period from lisa
70 1873 was a period Of extraordinary de.
,aana 'or silver In the United states w,
Y. - vent Gown from maximum of 81 ola m
sSsa amount Of bullion In 4 SILVER dollar In
$50 70 minimum of 45.7 cents in 1894 -
From 1884 to 1871 1t wac most d,,ccn,,
% get any silver to coin for II was vor,h
mofe than sold. 1t followed the ratio of |
Europe clear - 70 the d,v :,
as@nneasasion; up u tbs day liz fuu..:-
= primary money was taken fre,, /, ~