At the convening of the divided (Republican and Democratic) 48th Constitutional Congress (elected in accordance with Article I, Section 3 [Clause 1]), Democratic (constitutionalist) President Cleveland call for termination of the coinage of silver (lawful Money) as increased amounts of silver in circulation is beginning to cause gold (lawful Money) to disappear from the money supply—Gresham’s Law: “Bad money drives out good money.”
NOTE: A workable solution to this dilemma has been proposed by Murray Rothbard, who advocates not a fixed, bimetallic standard, which will always cause one of the two precious metals to dominate; but rather a floating parallel standard, in which gold and silver Dollars will seek their own free-market values depending upon supply and demand; prices could quoted both in gold and silver.
[restored 5/14/2022]
Subsequent Events:
Authority:
Article II, Section 3
ccc-2point0.com/constitution-for-the-united-states
References:
Calvin D. Linton, ed., The Bicentennial Almanac: 200 Years of America, 1776-1976, (Nashville, Tennessee: Thomas Nelson, 1975), 227.
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