Gold, Silver and the Coinage of the Silver Dollar. 



12. Our persistence in the coinage of the silver dollar at a ratio not 

 in accord with Europe, and against the earnest advice of her most ex- 

 perienced bi-metallists, tends to delay and to defeat this most desira- 

 ble consummation. 



13. We were told, in 1878, in the debates upon the coinage bill, that 

 its passage would promptly restore silver to its former value with gold. 

 The commercial value of the silver bullion contained in the silver dol- 

 lar was then ninety-two cents. After eight years persistet.ee in the 

 coinage, it is now but seventy-six cents, and it is still falling. 



Conclusion. 



With the attempt at some research, and the application of earnest 

 thought to this subject, I count myself still but a learner. It is too 

 broad a question to be disposed of by dogmatic assertion. It becomes 

 us to hold our opinions with modesty, and subject to modification 

 from further light — as the French say, "to hold the attitude of ex- 

 pectancy." But upon two points it appears to me we are justified in 

 taking a stand. First — - that what God and nature have joined 

 together as money metals in the transactions of mankind through all 

 history, it must be eminently unsafe, and probably seriously detri- 

 mental for man to put asunder; and second — that this government, 

 whose stable foundations rest alone in righteousness and justice, 

 cannot afford to persist in the purchase of seventy-six cents' worth of 

 any metal, and after fixing its impress upon it, force it upon its credi- 

 tors for a dollar. 



