Shoshone journal. [volume] (Shoshone, Idaho) 1884-1931, 1897-09-03
THOMAS JEFFERSON.
THE ORIGINAL Decentralization OF
SILVER WAS EFFECTED BY
JEFFERSON'S ORDER.

JEFFERSON'S ORDER.
He Was at All Times Opposed to Cheap
Money and Reputation OF Debts-Be-
. neved That Coinage Ratio Should Stick
Close TO the Market Ratio Favored Use
of Both Metals, but Showed a Moderate
Preference For Gold-CouId Not Have
stood on the Chicago Platform.
Thomas Jefferson was patriot and a
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
ities, but why should those who voted
In 1896 to repudiate 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
manner Is there anything in his writings
or his conduct to indicate that he would
have been "a cheap money and repudia-
tion Democrat?
In 1888 Mr.. Jefferson wrote:
The proportion between the vniue Of gold
and silver Is II mercantile problem altogether.
$50 Just principles will lead US 70 disregard
legal proportions altogether, TO inquire into
the market price OF gold in the several coun-
tries with which we shall principally be con
nocted In commerce and 10 take an average
from them.
Does this sound like the silver plank
Of the Chicago platform2
In q letter to Mr. Hamilton in Feb
ruary, 1909, Mr.. Jefferson expressed his
opposition TO cheapening the dollar or
reducing tho monetary unit. He said Of |
the dollar:
very much doubt right now to change tho |
value, and especially to lessen IT, 1t would |
lead 10 80 easy mode of paying of their |
debts . Should 10 BIO thought. however, |
that congress may reduce the value OF tho dol
lar. should BIO for adopting for our unit, in
stead Of the dollar, either one ounce OF pure
silver or one ounce Of standard silver. to
keep the unit OF money o part Of the system
Of measures, weights and coins-
The original decentralization of sill
YER" was effected by tho following or
der from Thomas jefferson:
DEPARTMENT. or STATE, May 2 1906
SIR-In consequence of a representation from
Tho directors OF tho Bank of the United States
hat considerable purchases have been made
Il dollars coined at the mint for tho purpose
II exporting them. and rs IL Is probable fur
her purchases and expectations will be made,
no president (Thomns Jefferson) directs that
IL silver to be coined ut tho mint shalt be OF
mall denominations. that tho value Of tho
argest piece shall not exceed half n 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. I
1t Is clear from jefferson 8 writings I
hat no favored the use of both metals ;
ut 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 q
ebts" would attempt TO fix our coin U
ge system independent Of the worlds a
iarkots. His policy at all times was to
tick close to the natural ratio.
His desire to ascertain the market ra-
% between gold and silver and adopt
rat as the legal ratio Is shown again II
/ his supplemental notes, Works, edi- q
on of 1853. volume 1. page ITO. written n
/ 1888 or 1884. when he suggests that =,
10 committee of the states DO instructed:
To appoint also proper persons 10 inquire IL
hat ara tho proportions between tho values el
fno gold and dno silver at the markets Of 7,
@ several countries with which we nro or ~
ny probably bo connected In commerce. and
hat would DO a proper proportion here. hnv-
u regard to the average Of their values nd ra
oso markcts and 10 othor circumstances,
ID 10 report tho same 10 tho committee. BY pi
en- 10 DO laid before congress- I'D
jefferson framed and had passed by m
% Virginia assembly law by which q,
% value Of tho paper money of Amer G,
q was settled Sin sterling money or %
o lawful money Of England.
II jefferson had been compelled to
oose between the two metals, he ia
ould undoubtedly havo taken gold In To-
5 Notes" he observed that the high
ice which Spain paid for gold had Sc
ndency to draw away gold and TO
I'VE Us only silver. He thought, there Go
10, that I'VE might with safety lean
proportion somewhat above par for
Id"
Free silver Democrats are not JefYer- !"
1 Democrats. They should either
andon their false doctrines or worship f..
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