Show 0 t CONGRESS AND SILVER By special request we republish the following fol-lowing extracts from the report of the National BiMetallic Association feeling that they contain truths that are very pertinent iust now In dwelling upon this subject we are forced to ask the question Has Congress 0 the right under the Constitution to demonetize de-monetize the trade dollar Article 1 section 8 provides That E Congress shall have power tocoin money regulate the value thereof and of foreign coins The provisions of the Constitution giving giv-ing power to Congress in this matter are 1 It may coin money and it may indeed in-deed omit to coin it but that is all It can hardly be argued that from the mere right to coin can be derived the power to deprive it when coined of what may be called its inherent quality as coin namely to circulate as currency and be a legal l tender 2 It may regulate its value But to displace it to deprive it of its natural function as legal tender not to regulate but to destroy its value as money The words to regulate its value as applied to money had when the Constitution Consti-tution was adopted and have now a dis tinct and obvious meaning consistent with the other provisions upon the subject sub-ject namely to prescribe its rate but I not to prohibit its use or limit the amoun tat t-at which it shall pass current Having coined it and having regulated the rate at which when coined it shall I J belnoney and pass current where does Congress get its authority to forbid its passing current at that rate as a legal tender to any amount Money at common law is both gold and silver and both gold and silver were legal tender at common law at the time of the adoption of the Constitution Gold and silver derive their legal tender j i ten-der function not from Congress not even j directly from the Constitution but from the immemorial common law recognized in this regard and sanctioned by the Constitution This being the case has Congress the right to take away from any gold or silver coin or either of them this legal tender function If Congress has the right to take way from the trade dollar or any other silver sil-ver coin its legal tender function it would naturally have the right to do the same with the gold dollar or any other gold coin of the United States or as to both gold and silver coins together Under these circumstances and with two contrary decisions on the legaltender quality of the greenback currency by the United States Supreme Court it would appear to be a startling proposition proposi-tion that we have no constitutional money that Congress could demonetize gold also and this too not only in a great public exigency and indirectly by introducing a paper currency but at any timeand directly by positive enactment enact-ment And yet under existing circumstances circum-stances how can we legally distinguish between gold and silver dollars both bearing the United States stamp of authority au-thority which are intended to give them a legal and current value and also to serve as guarantee for their weight and fineness or between either or both I In conclusion we believe that no nation na-tion ever had too much coin of gold and silver We believe that the highest financial wisdom was exercised by the founders of our Government when they established by law free and unlimited coinage of gold and silver and we deplore the repeal of that law and now in order to remedy the injury done to all the business interests inter-ests of the country by such repeal we respectfully and earnestly demand that Congress reenact laws for the free and unlimited coinage of gold and silver so that each metal may have equal rights as money and that both may have full legal tender value for the payment of all debts public and private we nave carefully considered the statements state-ments to which we sign our names and in conclusion we urge upon our countrymen country-men the election of Senatorsand Representatives Repre-sentatives in Congress who will favor the reenactment of the policy and laws which were established by the founders of the Republic rnd which gave to the country free and unlimited coinage of gold and silver Forget it not that he who opposes this policy and these laws is an enemy to sound money healthy business and them the-m of the people |