'The real reason, undoubtedly, was the President realised that, by 1 the price of newly-nined silver about 20 cents above the! market price, he gave what was in mining' states.
The "cost to all the silver Government "was small, but the, political value was. great. There! fire eight silver states with a com-population of "about fire y, but with sixteen sena-method of acquiring the silver peared to be and received back half of what they brought in the form of silver dollars. AL the present statutory weight of the, silver dollar, this amounted to} iving G43 cents per ounce. The, the Treasury. "Domestic half retained by the Treasury was considered to be. taken for minting or seigniorage charges. Even if the silver remained by the Treasury were used as the backing for fresh silver tion in a mining year coul ates, the increase in circula, not be much over $50,000,000, mere drop compared with the total currency, circulation of some '$5,500,000,000.
Text read from the printed page and cleaned; old type leaves the occasional error.