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With the Democratic Party calling for the free coinage of silver, Harper's Weekly editor Carl Schurz began discussing the situation in Mexico and other countries where the coinage of silver was set by the government rather than the market ratio to gold. The Mexican silver dollar, with higher silver content than the American silver coin, was worth 50 cents (U.S.). According to Schurz, in such nations the value of money is debased and fluctuates widely. In the September 26 issue, he pointed out, “The purchase by the [American federal] government, for nearly fifteen years, of the entire annual product of silver in the United States did not fix its relation to gold and prevent wide variations from week to week in its value…” |
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Warning
1860
