Address of Hon. John B. Henderson: At Louisiana, Mo., October 29, 1895, on Finance, on Finance, Coinage, and Currency |
Common terms and phrases
119 millions 50 cents 575 million already amount balance of trade bank better currency bimetallism BLAND-ALLISON ACT cents coin money coinage act coinage laws coinage of silver commercially worth Congress constitution copper demand depreciated coins depreciated currency depreciated paper depreciated silver dimes disappeared from circulation dollars of gold exports fixed free coinage furnished gold and silver half dollar horse intrinsic value issues legal tender legal-tender legislation less MCKINLEY TARIFF merchandise metals million bushels million dollars mine-owners nations of Europe nickel OCTOBER 29 panic party pound pound weight power to coin PRICE OF COTTON production prosperity ratio redeem redemption money reduced in value relative values resumption act Secretary Sherman act silver bullion silver coins silver currency silver dollar single standard small transactions standard money standard of value standard silver statesmanship subsidiary coins thousand bales tion trade treasury United States notes value of silver wheat worthless yard-stick
Popular passages
Page 14 - ... the established policy of the United States to maintain the two metals on a parity with each other upon the present legal ratio, or such ratio as may be provided by law.
Page 27 - We hold to the use of both gold and silver as the standard money of the country, and to the coinage of both gold and silver, without discriminating against either metal or charge for mintage; but the dollar unit of coinage of both metals must be of equal intrinsic and exchangeable value...
Page 26 - The American people, from tradition and interest, favor bimetallism, and the Republican party demands the use of both gold and silver as standard money, with such restrictions and under such provisions, to be determined by legislation, as will secure the maintenance of the parity of values of the two metals so that the purchasing and debt-paying power of the dollar, whether of silver, gold or paper, shall be at all times equal.
Page 2 - States the power to coin money, emit bills of credit, or make anything but gold and silver coin a tender in payment of debts.
Page 3 - ... mere merchandise, which accordingly, at different times, has been proposed from different and very respectable quarters, but which would, probably, be a greater evil than occasional variations in the unit from the fluctuations in the relative value of the metals, especially if care be taken to regulate the proportion between them with an eye to their average commercial value.
Page 3 - That the unit in the coins of the United States ought to correspond with 24 grains and J of a grain of pure gold, and with 371 grains and ^ of a grain of pure silver, each answering to a dollar in the money of account.
Page 3 - As long as gold, either from its intrinsic superiority as a metal, from its greater rarity, or from the prejudices of mankind, retains so considerable a pre-eminence in value over silver as it has hitherto had, a natural consequence of this seems to be, that its condition will be more stationary. The revolutions, therefore, which may take place in the comparative value of gold and silver, will be changes in the state of the latter, rather than in that of the former.
Page 4 - Just principles will lead us to disregard legal proportions altogether ; to inquire into the market price of gold in the several countries with which we shall principally be connected in commerce, and to take an average from them.
Page 7 - We propose, so far as these coins are concerned, to make silver subservient to the gold coin of the country. We intend to do what the best writers on political economy have approved, what experience, where the experiment has been tried, has demonstrated to be the best, and what the Committee believe to be necessary and proper, to make but one standard of currency and to make all others subservient to it. We mean to make gold the standard coin, and to make these new silver coins applicable and convenient,...
Page 4 - I return you the report on the mint, which I have read over with a great deal of satisfaction. I concur with you in thinking that the unit must stand on both metals, that the alloy should be the same in both, also in the proportion you establish between the value of the two metals. As to...