A Goverment Dollar contains 412 1/2 grains
DUIGUY
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Elder "Taft" and "Wilson" or "Gold Basis " Dollars - 1908, 1912
These medals were issued by the late Thomas L. Elder and were patterned after No. 783, Bryan dollar.
These medals were issued by the late Thomas L. Elder and were patterned after No. 783, Bryan dollar.
“A nation can survive its fools, and even the ambitious. But it cannot survive treason from within. An enemy at the gates is less formidable, for he is known and carries his banner openly."
- Marcus Tullius Cicero, 106-43 BC
- Marcus Tullius Cicero, 106-43 BC
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TD
bob
The “silverites” goal of keeping both gold and silver at fixed prices, ($20.6667 and $1.2929 per troy ounce respectively), and fixing their monetary ration at 1:16 on a worldwide basis was a practical impossibility. Changes in technology, new discoveries of minerals, and evolution of national economies constantly worked against them.
Beginning in 1933 the Roosevelt administration supported an artificially high value for silver, thus stabilizing the price for the next 30 years – far beyond the wildest dreams of Bryan and silverites. This was commonly 50% greater than the open market price with the intention to build a stockpile at a ratio of 1:4 with gold. (The ratio was never achieved, in part because the government did the same thing with gold.) Government silver purchases continued until the early 1960’s when open market pressures (photographic and consumer electronics uses) pushed the price of silver beyond the $1.2929 monetary value and the Johnson administration dropped all silver purchasing.