The Wilmington daily Republican. (Wilmington, Del.) 1890-1902, 1897-04-23
THOMAS JEFFERSON.
THE ORIGINAL DECENTRALIZATION or
SILVER WAS EFFECTED BY
JeFFERsoN's ORDER.

He Was at All Times Opposed to Cheal
Money and liquidation of Debts-Be
iieved That Coinage Ratio should sticl
Close to the Market Ratio-Fayored Us.
Of Both Metals. but Showed Moderas,
Preference For Gold-coaid Not Hav.
Stood on the Chicago Platform.
Thomas Jefferson was patriot and a
statesman Of the highest order. It il
proper for all true Democrats to cele-
brate his birthday, April 10. and tc
commemorate his many excellent quail
titles, 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 g
name9 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 value Of gold
and silver is mercantile problem altogether.
Just principles will 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 takps,n average
from them. "
Does this sound like the silver plank
Of the Chicago PLATFORM
In letter to Mr.. Hamilton In Feb
ruary, 1904, 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 1t. It would
lead to go easy mode Of paying off their
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 part OF the system
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, 1905
6IR-In consequence OF representation from
that considerable purchases have been made
of dollars coined at the mint for the purpose
Of exporting them, and as it Is probable fur.
Their purchases and expectations will be made,
the president (Thomas Jetferson) 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 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 JefPerson'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 an "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 legalsratio Is shown again
in his supplemental notes, Works, edi-
ton of 1853, volume /, page 40, 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
u line gold and fine silver at the markets Of
the several countries with which we are or
nay probably be connected in commerce, and
What would be proper proportion here, hay
ng regard to the average Of their values at
hose markets and to other circumstances,
md to report the same to the committee, by
hem 10 be laid before congress
Jefferson framed and had passed BY
he Virginia assembly law by which
The value Of the paper money of Amer
ca was settled in sterling money or
he lawful money Of England"
II Jefferson had been compelled to
moose between the two metals, he
would undoubtedly have taken gold. In
lis Notes. he observed that the high
1rice which Spain paid for gold had o
endency to draw away gold and to
cave rs only silver. He thought, there
ore, that 1--WE might with safety lean
% proportion somewhat above par for
,old"
Free silver Democrats are not Jeffer-
on Democrats. They shoald either
Ibandon their false doctrines or worship
It another shrine.