�y��vlog

By the same table it is shown that the silver dollar of 1873, containing 412½ grains of silver, nine-tenths fine, would purchase one and eight-tenths bushels of corn; in 1890, a like number of grains of silver, uncoined and estimated at its gold value, will purchase one and nine-tenths bushels of corn.

The figures of the same table show that in 1873 a coined silver dollar of 412½ grains would buy 51⁄3 pounds of cotton; to-day 412½ grains of uncoined silver will buy 6¾ pounds of cotton.

Notwithstanding that 412½ grains of uncoined silver will to-day buy as much of the leading articles of commerce as the coined gold dollar would buy in 1873, yet the advocates of the gold standard characterize it as a 72-cent dollar.

Nay, more, silver bullion—disparaged and discredited as it is by being shorn of the money function, and denied access to the mints, instead of decreasing in purchasing power, has maintained so steady a relation to commodities that 412½ grains of uncoined silver will exchange for as much to-day as would the coined dollar, whether of silver or gold, in 1873, when the full money function attached equally to both metals.

Later on, however, Lord Dundonald took the responsibility on himself of seizing the Protector's yacht at Ancon, and discovered that it was entirely ballasted with silver coin and uncoined gold.