The Farmington times. [volume] (Farmington, Mo.) 1874-1902, 1900-03-01
DECENTRALIZATION.
As Argument showing ihe tnconsti-
nationality of the Act
of IsTa

AZ NNt Nut IL" AhAt was paNANA W
congress in February, 1873, and which
resulted in the decentralization Of sill
yer, unconstitutional?
section S, Of article /, Of the con-
atiWtion, says: Congress shall have
power to coin money. regulate TIE
value thereof, and of foreign coin;
and hN the standard Of weights and
! measures" Thus, is il not that money
must be coined ?--and Il d necessary
that some substance must be used for
coinage; and also, that Il il Is coined
out OF more than one substance, and
each and every substance out Of which
! government coins money does not
have equal rights; is not treated by
the government exactly the same rs
the government treats other sub
siancrs out OF which Il coins money,
can the coin that may be stamped
IRON such substance which does not
/ possess these same rights be callei
money as defined by this article IN the
constitution? That II may be made
,or the right and power Of govern
ment tc issue) = legal tender is not
Questioned; but only, is II money
tHnt is, coined money, as defined by
| the coEstitution2 Is IL not an acept-
ed fact. that at the time o. the adOp-
ton Of the constitution by the % col.
unics-t thus making one government
/ composed OF Ftutcs--that the metals
, gold ard silver were the substances
. acknowledged by the colonies land by
I the world generally 10 bc materials
/ uut oi which money was 10 be coined;
and ,hat IL was these metals that this
article in the constitution had reieI-
ence to? In proof OF this congress
lsry hortly after the beginning "
she existence Of the government, April
. O. I7"2, passed an act providing for the
/ itcc coinage Of gold and silver az q
/ slliU prescribed in that act-to-yut,
/ T. 10 hath metals having eqral
( rights Zach metal when coined Gc-
. rura.ug 20 this law, became m1ue".
. Ia further proof that gold aud silver
and that only gold and Sil,er--were
intended as the substances out Of
which money was Ia be coined accord
iug 20 this article. the constitution
prohibited. IN the same article, section
/ l1, the states from making anything
. but gold and silver coin tender In
payment Of debts and prohibited ;he
states from coming, reserying TO the
/ general government alone that pow
rr. Now the government and the
D
/ the adoption Of the constitution issued
obligations and borrowed money
Md these obligations and these prom
,."s 10 repay money borrowed have al-
ways been expressed IN coin--somc Of
/ tho obligations OF the states may have
. been expressed IN lawful money, Has
/ II not always been understood has Il
. ever been questioned that the word
/ coin 8s so used has always meant gold
I and silver! Thus II must be an M
. 1ispuiublc fact that gold aud silver
/ were the substances out Of which
/ money was 10 hc coined by the gov.
[ eminent according TO this article IN
/ the constitution: and also an tuds.
/ pui1hlc fact that should one metal
[ b, deprived 81 any rights that were
. accorded To- the other metal. Ia treat
cd 10y the government any differently
than the government treated the
other; the coin OF the metal 10 de-
rriycd was not money, the same as
the coin ~ the other metal was. rs
money t. defined by this article In the
constitution? For the intent and
meaning Of this articlr-giying con.
rrguIlt, the value thereof. as here
proved was not gold or silver, but
. gold and silver.
Alexander Hamilton and Thomas
/ Jefferson both expressed this idea at
/ the time when the first coinage law
was passed by congress Daniel Web.
/ ftcr I'm his address 10 the senate De.
/ ccmbcr q, 1896, said: ~ am certain.
( " Of the opinion, then, that gold aud
/ silver at rates fixed by congress con.
stitutc the legal standard Of value In
| this country, and that neither cor
Rrcss nor any state has authority to
establish any other standard or 20 dis.
place this" Andrew jackson said the
same thing In his farewell address.
James 6. Hlane in his speech in the
senate February Z. 1875. said: u be-
lieyc gold aud silver coin 10 be money
Of the constitution. No power WIS
conferred on congress to declare that
either metal should not be money.
Congress has, In my Judgment, no
power 10 demonetize silver any more
than - demonetize gold. No power 70
demon,tize either any more than -
dcmonetize both"
Now, the law that was passed Feb
rUary, 1873. did demonetize silver.
Took away from silver the right and
power TO be money! right and pow.
er II had always formerly possessed
equally with gold--thus rcseryiug to
gold alone the power TO be money at
the will Of the holder. Thus silver
ceased 90 be money nS defined by the
constitution. For Is il not an indis-
putablc fact that, II person possess.
ing both gold and silver can have his
gold coined into money, thus the gold
possessing all the powers of money,
nd cauont have his silver coined into
money-thus deprivlng silver of the
powers of money, a power IL always
formerly possessed, the intert AMI
meaning OF the constitution, wherein
Il gives congress the power TO coin
money, regulate the value thereof.
etc, as far aB II relates 10 silver Is
chsuged7 The question naturally
arises how are obligations which are
made payable in coin--or IN money
TO be Scttled7 Whether these obliga-
tons be issued by the government,
state or an indiyidual2 II a debtor
has gold and changes his gold into
coin--whieh he can do--and pays his
obligation, certainly that appears MS
a Just and equitable settlemert--cer-
tainly as far rs the creditor Is con-
cerned. Hut H. he possesses silver and
the government refuses 10 coin his
silver into money, even though ut the
time Of the making Of the obligation,
silver was coined the same as gold