ges,
figure upon the fluctuations, figure upon the gambling in New York;
but he will know what his money is worth. Gold is the universal
standard of the world. Everybody knows what a dollar in gold is
worth."

To review the history of the act of 1873: It was framed in the
treasury department after a thorough examination by experts,
transmitted to both Houses of Congress, thoroughly examined and
debated during four consecutive sessions, with information called
for by the House of Representatives, printed thirteen times by
order and broadly circulated, and many amendments were proposed,
but no material changes were made in the coinage clause from the
beginning to the end of the controversy. It added the French dollar
for a time, but that was superseded by the trade dollar, and neither
was made a legal tender but for five dollars. It passed the Senate
on the 10th of January, 1871--36 yeas and 14 nays--every Senator
from the Pacific coast voting for it.

It was introduced in the House of Representatives by Mr. Kelley,
at the next session. It was debated, scrutinized, and passed
unanimously, dropping the silver dollar, as directly stated by Mr.
Hooper. It was reported, debated, amended, and passed by the Senate
unanimously. In every stage of the bill, and every print, the
dollar of 4121/2 grains was prohibited, and the single gold standard
recognized, proclaimed, and understood. It was not until silver
was a cheaper dollar that anyone demanded it, and then it was to
take advantage of a creditor.

It has always been within the power of Congress to correct this
error, if error was made; but Congress has refused over and over
again to do it. When the controversy arose, in 1878, on the Bland
bill, and the House of Representatives proposed the free coinage
of silver, the Senate rejected it after a deliberate contest, and
substituted in place of it what is called the Bland-Allison act,
which required the purchase, by the government, of silver bullion
at its market value, and its coinage to a limited amount. Every
effort has been made, from that time to this, to have the Congress
of the United States pass a free coinage act.

If this is done, it will be to secure a cheaper dollar of less
purchasing power, with the view to enable debtors to pay debts,
contracted on the basis of gold coin, with silver coins, worth,
with free coinage, less than one-half of gold coins.

In reviewing, at this distance of time, the leg