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James A. Garfield. Letter Signed. ...
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Description
"I am in favor of the Silver dollar, but of an honest silver dollar, that will not drive gold out of the country, but give us the benefit of both..."
James A. Garfield. Letter Signed. Two pages on one leaf of
lined paper, 8 x 10 inches, Washington, D.C.; February 19, 1878.
Letter to Captain A. W. Stiles, a constituent in Rome, Ohio, giving
his opinion on the coining of the silver dollar. It was signed by
Garfield while serving in the House of Representatives. Docketed on
verso.The letter reads, in full: "Yours of the 12th inst. came duly to hand, for which accept my thanks. I am glad to know that the People of our district have not all gone crazy on the silver question. I am in favor of the Silver dollar, but of an honest silver dollar, that will not drive gold out of the country, but give us the benefit of both; and I have no doubt the time will come when the people will look back with regret and indignation at the course of the demagogues that brought them into the trouble now threatening. You have before this time seen the little speech I made in regard to Louisiana matters. We have nothing to do but resist the outrages they are now inflicting on the Returning Board, and I hope the people will speak out without restraint against the wrong. I want you to keep me informed of the State of Affairs in the district, and of any movement our Enemies may be intending to make. I shall be glad to hear form you at any time. - I will send the documents asked for. Very truly yours," Signed, "J A Garfield."
Five years previously, Congress passed the Coinage Act of 1873, demonetizing silver and establishing the United States' participation in the international gold standard. The act proved extremely controversial and spurred on the free-silver movement popular in the late nineteenth century that advocated for the unlimited coinage of silver, something that would have caused an inflationary monetary policy. At the time of this letter, Congress was debating the Bland-Allison Act, the passage of which would have permitted a limited resumption of silver dollars by requiring the U.S. Treasury to purchase silver bullion at a market price each month. Garfield was a staunch defender of gold-backed currency and had significant concerns about how silver coinage would be managed, as evidenced here. Despite Garfield's opposition, nine days after this letter, Congress overrode President Hayes' veto and the act was passed on February 28, 1878, reinstating the silver dollar in United States coinage once again.
Condition: Light soiling along the edges with minor scattered spotting.
Note: Updated to amend previous description. Please note this is a letter signed, "J A Garfield."
Auction Info
2022 December 1 Historical Platinum Session Signature® Auction #6267 (go to Auction Home page)
Auction Dates
December, 2022
1st
Thursday
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