The Money Question

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Excerpt from The Money Question: J. Sterling Morton's Talk About It to His Friends and Neighbors, A Plain Exposition of the Issue Made by a Western Pioneer in Close Touch With the Farmers and One Who Understands Their NeedsBut we are told that there was a great crime committed in 1873 in the secret demonetization of silver. There was no secret demonetization of silver. The bill which left the silver dollar out of the coinage provided for in the act of 1873 was before the American people for more than two years. The debate upon its passage in the House and in the Senate occupies several columns of the Congressional proceedings. Up to the time of this alleged demonetization of silver the Government had during its entire existence coined less than nine millions of silver dollars. Under the bland-allison act of 1873, the Govern ment authorized the coinage of the standard silver dollar and restored its legal tender character. This act was to resuscitate the declining value of silver. It was to place it side by side with gold as art of the redemption money of the United States. Let it be remembere that silver had been demonetized by the act of 1853, and that the legislation of 1878 was based upon the fallacy that silver dollars of gold value could be substituted for depreciated paper. The silver coined before this enactment, amounting to between eight and nine millions of dollars, had long before disappeared from circulation.About the PublisherForgotten Books publishes hundreds of thousands of rare and classic books. Find more at www.forgottenbooks.comThis book is a reproduction of an important historical work. Forgotten Books uses state-of-the-art technology to digitally reconstruct the work, preserving the original format whilst repairing imperfections present in the aged copy. In rare cases, an imperfection in the original, such as a blemish or missing page, may be replicated in our edition. We do, however, repair the vast majority of imperfections successfully, any imperfections that remain are intentionally left to preserve the state of such historical works.