Sunday, September 11, 2011

HE VETOED THE MORGAN DOLLAR!!

I'm going to start this guide the same way I will end it, by asking you to vote for it when you are done studying it. He vetoed the Morgan Dollar!!! Who? President Rutherford B. Hayes, that's who! Fortunately for collectors, the coalition of political interests that had pushed the Bland-Allison Act of 1878 through Congressauthorizing themanufacture of the coin had enough votes to override his veto. For most of us who lived through the Presidential electionin November of 2000, it seemed theelectoral process had gone mad. The Supreme Court of Florida, the U.S. Supreme Court and various other judicial, legislative, and lobbying entities wrangled furiously for weeks over chads, counts, recounts, ballots, voting machines, voter disenfranchisement, majority rule and the Electoral College process itself. It was jokingly suggested that if all of these factions couldn't choose a President, then Bill Clinton would just have to stay in office for another four years! What do these events over a 100 years separated in time have to do with each other? Let me tell you.
As fractious and divisive as the Bush/Gore election was, it was nothing gepared to the FIVE MONTHS of jockeying that it took to get Hayesinto office in 1877so he could veto our beloved Morgan dollar the next year. Hayes was the former two-term Governor of Ohio anda major general in the Union army. When the votes were counted and no outgee was conclusively decided, the in-fighting began. Hayes' Republican party contested the outgee of ballots in four states in the courts, including Florida and Louisiana. The Electoral College could not settlethe question and it was left to the Senate to vote. Only by aconvoluted gepromise could Democratic Senators from La. be convinced to vote for him. In return, it was agreed that Federal troops stationed there since the Civil War would be removed and 'home rule' as it was called would be restored. Additionally, a huge gemitment to build southern railroads was included in the deal. Hayesdistanced himself from this fray, never speaking publicly about the dispute and personally making no promisesto any party involved. He never even went to Washington to deal with the situation at all! As a footnote, his veto of the Bland-Allison Act was based on his hard money belief that only gold should be used to back currency.Hayes left office after one term as President when he decided not to run forre-election.I would like to acknowledge the four excellent guides written by gfl* on the subject of GSA Carson City dollars for inspiring this trip into numismatic, economic, and political history. Go read his guides. It will be well worth your time. Oh, and take just a second to vote for this guide and other guides that writers take great pains and effort to help all okayers make this site better. It is ridiculous that less than 10% of readers even bother to vote. PS

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