The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1897-06-19

proper for all true ucmOcfatS 10 cele-
brate his birthday April Is, and to
commemorate his many excellent quail
tiles; but why should those who voted
in 1886 to repudiatc 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 disaOnor, J~efferson's
name? Is there anything III his writ
ings or his conduct 10 indicate that he
would nave been i cheap money or re-
pudiatiOn democrat?
In 1888 Nj. Jefferson wrote:
1.-The proportion between the value or
gold and silver is q mercantile problem al
together. " 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 an average from them"
Does this sound ike the silver plank
in the Chicago platform?
In a letter to Mr.. Hamilton in Feb
ruary, 1892, Mr.. Jefferson expressed his
opposition to cheapening the dol
lar or reducing the monetary unit. He
said of the dollar:
q very much doubt a right now to change
the value. and especially to lessen it. II
would lead 10 SO easy Z mode Of paying OF
their debts. = Should 1t be thought,
however, that congress may reduce the
value q the dollar. I should be for adopt
ing fox our unit. instead OF the dollar,
either ore ouucc Of pure silver CT one
ounce Of STANDARD silver. so as 20 keep the
unit OF money = part OF the system of
measures, weights and coins
The original characterization of sill
YER was effected by the following or
der from Thomas jefferson:
Department of State. May 2. 1S1G.-Sir:
In consequence of q representation from
the directors of the Eank Of the United
States that considerable purchases have
been made Of dollars ccincd 1T the mint
for the purpose CT cNuCrtiuG them, and as
it IS probable further purchases md cN-
portacions viii be made. the president
(Th0m25 JeffCrsou) directs that all silver
to lie coined at the mint shall lie Of small
denominations. 50 tT,yt the value Of the
largest piece shagl LCt exceed half a dollar.
LANES MADISON.
ROBERT PATTERSON. Esq. Director
of the Mint
Except I.Co9 pieces, no more silver
dollars we're coined till after Andrew
jackson retired irr". he presidency.
1t Is clear from 1cGrerscn's writings
that ne favored the use Of both metals.
but only At their natural ratio in the
worlds markets. lie seems TO have
had an instructive Icar that people who
wished an easy mode Of paying oil
their debts" would attempt to fix our
coinage system independent Of the
worlds markets. His policy at ali
times was to stick close 10 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 1853, volume !. page 10, writ
ten in i1s2 or 1854, when he suggests
that the committee of The states be in
structed:
ITO appoint also proper persons to in
nuire what are the proportions between the
values OF fine gold ami fine silver al the
markets Of The several countries with
which we are or may probably be connected
in and what would be a proper
proportion here. having regard 10 the av-
- 80 "a N-AN-- N@N@~- - 49, 1890 N@aA0
to other circumstances and to report the
same to the committee, by them to lie 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 none or
the lawful money of England"
If Jefferson had been compelled to
choose between the two metals. he
would undoubtedly have taken gold. In
his Notes" he observed that the high
price which Spain paid for gold had 4
tendency TO draw away gold and to
leave us only silver. He thought, there
fore, that we might with safety lean
to a proportion somewhat above par for
gold"
Free silver democrats are not Jetfer-
son democrats. They should either
abandon their false doctrines or wor-
ship at another shrine.
VoICnse Regulated Automatically.
That it was the function of the GOV
eminent 20 furnish q country with its
supply of money was never supposed by
o-ycna ,,--i1 - r,~,l -, 1or4o1-o, - IL