The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1897-06-05

Thomas jefferson was a patriot and a
statesman of the highest order. 1t is
proper for all true democrats TO cele-
brate his birthday April -, and to
commemorate his many excellent quail
tiles: 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
name? Is there anything Ill his writ
ings or his conduct TO indicate that he
would have been a cheap money or re-
pudiation democrat?
In 1873 Mr.. jefferson wrote:
1.-The proportion between the value or
gold and silver is a mercantile problem al
together. d. Just principles will lead
us to disregard legal proportions altogeth-
er, to inquire into the market price of gold
in the several countries with which we
/ shall principally be connected in COM
merce and 10 take az average from them
Does this sound like the silver plank
in the Chicago platform?
In a letter to Mr.. Hamilton in Feb
ruary, 1892, Mr.. Jefferson expressed his
opposition II cheapening the dol
lar or reducing the monetary unit, lie
said of the dollar:
81 very much doubt z right now to change
the value. and especially to lessen it. 1t
would lead to 50 easy a mode of paying of
their debts. . Should il be thought,
however, that congress may reduce the
value OF the dollar, l should be for adopt
ing for our unit, instead 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 sir
yer" was effected by the following or
der from Thomas jefferson:
Department of State, May 2, 1SG6.-Sir:
In consequence of a representation from
the directors of the Bank 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 further purchases and cX-
portations will be made, the president
CThomas Jcfferson) directs that all silver
TO he coined at the mint shall he of small
denominations SO that the value of the
largest piece Shall rot exceed half a dollar.
JAMES MADISON.
ROBERT PATTERSON. Esq, Director
of the Mint"
Except 1000 pieces. 10 more silver
dollars were coined till after Andrew
jackson retired frcm the presidency.
1t is clear from .jefTerson'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
wished an easy mode of paying off
their debts" would attempt to fix our
coinage 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
ratio between gold and silver and adopt
that as the legal ratio is shown again
in his supplemental! notes, Works,
edition of 1858, volume l. page 40, writ
ten in 1888 or 1871, when he suggests
that the committee of the states be in
structed:
ITO appoint also proper persons 20 in
nuire what are the proportions etwee the
Value of fine gold and fine silver at the
markets of the several countries with
,WLlcn We are or may probably be connected
in commerce, and what would be a proper
proportion here, having regard to the av-
erage of their values at those markets n
to other circumstances, and to report the
same to the committee, by them to be laid
before congress-"
Jefferson framed and had passed by |
the Virginia assembly Il law by which
the value Of the paper money of Amer
lea was settled in sterling money or
the lawful money Of England"
Ii jefferson had been compelled to
choose between the two metals. lie
would undoubtedly nave taken gold. In
his Notes he observed that The high
price which Spain paid fer gold mad a
tendency to draw avay gold and t.
leave us only silver. lie thought. there
fore, that we might with safety lean
TO a proportion Somewhatab above par for
gold"
Free silver democrats are not JetGer-
son democrats. They should either
abandon their false doctrines or y.cr-
ship ut another shrine.