Original subtitles

Howdy folks, I'm the Old Ranger.

In the year 1860, in the territory known as Colorado,

the Mile High City of Denver,

measured from sea level to the 16th step of the old courthouse,

was the farthest outpost of the frontier.

Now despite it's fine weather and good black soil,

gold was the bait.

Though the little town was still in its infancy,

it already had a newspaper, hotel, theatre, hospital,

school, and what was destined to add one of the most fantastic

chapters to our American history,

a bank.

I don't understand it.

The more business we do, the more money we lose.

My dear Mr. Clark,

at the rate Denver's growing

we should be out of business in about a year.

Then you can go back east to stay.

It's your turn, go lose us some more money.

Can I help you?

Gus Brinn's the name.

Milton Clark.

Panned me a few ounces and,

and these Cherry Creek saves are too bulky to carry and,

to hard to spend.

Need some cash.

Well that's one of the things we're here for.

There we go.

Now,

about five ounces.

Almost seven ounces I'd say.

Uh huh, that'll be...

72.50

Well what do you know?

I'd prefer coin,

that is if you don't mind.

Not at all.

20, 40, 60.

70...

2... 50.

There we are.

Say, say how do you make enough in on this deal?

It's just a continence to our customers.

Costs us about what we charge you,

five percent of the total transaction.

Didn't see you take it.

It's automatic.

These weights weigh five percent more than marked,

so the gold thus weighs in at five percent less

than it's actual weight.

It saves us a lot of complicated arithmetic.

Mighty clever,

what won't they think of next?

Well, thanks a lot.

On it. On it.

Well how much did we lose this time?

Not much he only had a few ounces.

And then he only wanted coin of course?

Of course.

Oh, that leaves us awful short on the gold coin, partner.

We got more coming in on the stage from Philly.

Yeah, this change in dust to gold coin is breaking our backs.

Oh good morning Bill.

Bill.

I'm afraid it isn't a very good morning for you boys.

The stage has been held up and they got the money box.

Your shipment was aboard.

Well, you were insured, weren't you?

Of course not,

Wells Fargo would've charged us an additional five percent.

Well, it would've been a lot cheaper than losing the whole shipment.

Choose your own poison.

Go broke fast or slow.

Well I hope it isn't that bad.

We need you boys around here.

Thanks a lot.

Well I guess I better be going, I...

got a newspaper to get out and I don't have any help.

See you, Bill.

Well...

Well Manny, what do we do now?

Well, we could cut our throats.

Manny Gruber, my husband doesn't have to eat my cooking,

but if you wanna be invited here again...

I'm sorry, Martha. What's the matter with you two anyway?

Martha, don't you understand?

At the rate we're heading, we'll go broke.

Look, we have to exchange our customers' gold dust as cash as a courtesy.

We charge five percent.

Which is what Wells Fargo charges us to deliver the gold dust to the mint.

And these hold ups we've been having have just about been put

the match to the powder barrel.

Oh you still have assets.

Assets.

You have miners' grubstakes,

and when they hit it, you'll get your share.

Not when, if.

And loans to farmers.

They'll be repaid.

Too late to do us any good.

Loans on properties, and a few lots.

Frozen assets, that's what they are.

Just try collecting on any one of them.

Nah, she's right Mil, we're not busted yet.

We still have a few thousand left in gold dust.

How long will that last?

We have to figure a way to make some money.

Make some money.

That's it, make some money, why don't you?

Why don't we what?

Look, you've been doing a pretty good business so far right?

Uh huh.

But the money business you do, the more money you lose.

So?

And it's all because you have to send your gold east

to Philadelphia to be minted?

So?

Well so make your own money?

Mint your own coins!

Martha, would you go bake a cake or something?

Or go wash the dishes... but leave us alone!

We've got problems.

No, no, wait a minute Milt, she may have an idea here.

Martha, say it again will ya, I just wanna make sure I understand you.

Make your own money.

Mint your own coins right here in Denver.

Well, we're ready to press our first coin.

Hell, this is indeed a historic occasion for Denver's history.

Now we have to make sure it's the full weight.

We don't wanna short change anyone.

This should do it.

On the nose.

Well...

We... we had this dime made back east you know?

I think the, the honor belongs to Martha.

Just step down on this when I tell you.

Alright, go!

Oh it's, it's beautiful!

This is just as shiny as the government's coin.

And just as good.

Hey this is front-page material, I'd better get busy.

Well gentlemen, there's money to be made here.

Maybe Gus was right,

maybe we should've put our pictures on one of those coins?

If we put your face on one of them,

it could cause an economic revolution.

People would spend the money just to get rid of it fast.

I've got more gold dust under my fingernails

than old Gus takes out of his claim in one week.

Hold it!

We're U.S. Marshalls, don't make us fire.

You're under arrest, both of you.

Arrest?

For what? What are you talking about?

Counterfeiting.

From the looks of things, you'll be lucky

to get off with 20 years.

Let's go.

Sorry Ma'am.

And we intend to prove beyond possibility of the slightest doubt

that these two men,

despite the fact that our nation is and was at that time

embroiled in a civil war which threatens our very dissolution,

did conspire to, and actually made, counterfeit coins

in the denomination of two dollars and a half,

five dollars, ten dollars and twenty dollars.

Why is he so angry?

Gets us 20 years and himself a big reputation.

This not only could undermine the financial strength and integrity

of our financial structure and system,

contributing materially to the disillusion of these great United States.

But also it might include the possibilities of selling...

Your honor.

We intend to show that not only did my clients,

have no intent to defraud anyone,

but that they have, in fact,

performed a great service to our country

and to the territory of Colorado.

And with specific regards to the crimes of which they are charged,

they plead not guilty.

I do.

Your name is?

Gibbs.

Stanford Gibbs.

Where do you reside, Mr. Gibbs?

Pennsylvania.

Philadelphia, Pennsylvania.

And what is your occupation?

I am the Chief Metallurgist at the United States Mint,

in Philadelphia.

I want you to examine this ten-dollar gold piece.

Yes.

Was this coin made at the mint?

In Philadelphia?

Of course not.

What do you mean 'Of course not?'

Why this... this coin, sir, this coin is spurious.

Spurious?

It's not genuine.

False, counterfeit, that's what it is.

Counterfeit?

Look I don't know much about the law

but it seems to me you have a right to object.

I know what I'm doing, believe me, Mr. Gruber.

I hope so.

Your witness, Mr. Barton.

How many witnesses does this make?

I lost count at 42.

Mr. Gibbs...

Sir.

You say you're a metallurgist?

That's right.

I presume that you have run tests of the metal,

of which my clients' "spurious" coins are made?

I have.

Will you please tell the court your findings?

Well,

they're made of gold, Your Honor.

Not quite what I mean, Mr. Gibbs.

We all know that gold is very soft.

Malleable, can be scratched with a knife.

It's wearing qualities are very poor.

So we alloy it, to make it harder.

I object, Your Honor.

Counsel is leading the witness.

Besides, it's immaterial.

I don't see what this is all about Mr. Barton.

If it please.

Your Honor,

Mr. Fenner has consumed three full days

of the court's valuable time.

I have not yet used three minutes.

Surely you must realize that I have some reason

for this line of questioning.

Objection overruled, you may proceed.

Thank you, Your Honor.

I am correct so far, Mr. Gibbs.

Yes, quite correct.

So I will ask you again:

Of what are my client's spurious coins made of?

Well they're made of an alloy of gold...

Gold and copper, to be precise.

Approximately ten percent.

Did you find any other elements?

Any base metals?

In my client's coins?

Lead, for example?

No sir, I did not.

You did test them?

Of course.

Mr. Gibbs do you happen to have any genuine United States coin on you?

A coin of the realm, so to speak?

I believe so.

I wonder if you would be so kind as to lend some to me?

Just for a few minutes, I promise to give them back.

Unless of course, you would prefer,

some of those?

Well, hardly.

You may change your tune.

Now one of each will do just splendidly.

Thank you very much.

Now, you have testified

as to the accuracy of these scales, have you not?

I have.

Very well.

I place this $20 gold piece, which you have so kindly loaned to me,

here, on this pan.

And...

Here on this pan,

I've placed a $20 gold piece,

made by my clients.

What conclusions do you draw

from this very simple demonstration

I have just made?

Please Mr. Gibbs.

Well...

It would seem that...

I would have to say...

That the gold content of my clients' "spurious" coins

is even greater than that of the United States government.

Isn't that right?

I... I...

I guess so.

You guess so?!

You know so!

And you also know that this proves

that it was obviously not the intent of my clients to defraud,

or take advantage of anyone, least of all the United States Treasury.

The fact of the matter is,

and this is subject to proof,

that my client's coins, all of them...

contain a full five percent more gold

than those of the government.

And you may weigh any and all of them.

That's all, Mr. Gibbs.

Five percent more?

You didn't use the same weights we use to weigh the customers gold dust, did you?

The ones that are five percent heavier?

Well, sure I did, they're the only ones we have.

Why you idiot, do you know you've cost us...

Wait a minute, I take it back.

It just might be the best thing you ever did.

I submit, Your Honor,

that in the speech of the day, counterfeiting...

is known as the illegal manufacture of paper money.

Green backs, bank notes, call them what you will.

Paper money, which has no value,

but only represents value.

Now my clients have only made coins.

Metal coins.

Gold coins, which have value.

Just a moment.

We've never charged otherwise.

You stick with that statement?

Of course. Then Your Honor, I demand

that the charges brought against my clients be dropped,

and the case dismissed.

Or that you so rule them, not guilty.

Order, order in the court.

Mr. Barton,

on what grounds do you make such a motion?

On the grounds, Your Honor,

that there is no law,

no statute on the books of the United States of America at the present time,

which makes it a crime,

or even a misdemeanor,

to make, manufacture, or cause to have manufactured,

coins of value as a means of exchange.

And I challenge you, and opposing counsel,

to quote to me, or to show me such a law.

Order, order in the court!

Mr. Fenner, Mr. Barton, you'll meet with me immediately in chambers.

Court is recessed until tomorrow morning.

Well, it seems at the present time there's no law

on the books of the United States or of the territory of Colorado,

making it a crime, felony, or misdemeanor,

to mint coin.

Therefore I have no choice but to declare the defendants,

Milton Clark and Emmanuel Gruber,

Not guilty.

Oh, Mr. Gibbs?

Oh hey.Mr. Gibbs,

would you happen to have change for a $20 gold piece?

Well, now I think I might be able to accommodate you.

Never thought I'd be happy getting back to these chores.

Well, partner,

judging from the amount of dust that Martha took in,

you'll be doing this for months to come.

Why don't you hire someone to help you?

So Milt can go fishing and I can find me a gold mine.

Appears to me you've already found one.

Who is it?

Marshall Thomas.

May we come in?

Sure.

You're working a bit late, aren't you Marshall?

"The Treasury Department of the United States insists

"that you, Milton Clark, and Emmanuel Gruber,

"presently residing in Denver in the territory of Colorado,

cease and desist from the private manufacture of coinage."

Now we've been through all that.

You know that Marshall.

Oh, come on fellas, look,

I'm only doing my duty.

Carrying out instructions.

And if this fails, why I was instructed to ask you to please stop.

You see, the Treasury Department is awful embarrassed by what you've been doing.

They'd be mighty grateful if you quit.

What the government's really asking is that we close up shop and go out of business.

The answer is no, and that's final.

Aw, come on fellas.

Now if you don't mind, Marshall,

we have work to do here.

Thank you, partner.

And that's that.

What's what?

That's the last you'll ever see of me down here.

I'm going back to my kitchen for good.

But we need you here.

I helped you get things straightened out,

if you need more help, you hire some.

Martha, far be it from me to interfere between a man and his wife...

Then don't.

I'll get it.

Mr. Gruber.

Marshall.

May I come in?

Suit yourself.

Mr. Marshall.

Ma'am, Mr. Clark.

Now what?

You two are causing a heap of people an awful lot of trouble.

The government in Washington's had to take time off from the war.

Call both houses of Congress meeting in special session,

Just to decide what to do about you two young fellas.

Seems to me they'd have more important things to do.

Well, they decided to buy this here place.

Land, building, lock, stock and barrel.

$25,000.

Five times too much if you ask me.

On one condition.

That you cease and desist now and henceforth,

from the manufacture of coin.

Well?

$25,000?

Well, Marshall you tell those people in Philadelphia...

That the answer is no.

That's very good thinking Mil.

Oh, come on, fellas.

In two months' time, you'd be right back in the same trouble you were in to begin with.

She's right, partner.

Right, no deal.

However,

there is one way that my husband and Mr. Gruber

might be tempted to accept.

Uh, how's that, Ma'am?

And that is,

if the United States government

would guarantee to exchange their dust for coin,

right here.

In Denver?

In Denver.

Yeah, but how could that be if...

the Mint's in Philadelphia?

Very simply.

They'd own this building and all the machinery.

Why, they could mint the coins right here.

A branch of the Philadelphia Mint.

Right here in Denver.

The United States government accepted their terms,

and established the Denver Mint

on the spot previously owned by the banking firm of

Clark, Gruber & Co.

As a matter of fact,

that Mint turns out 75% of all the coins made in America.

By the way,

did you ever notice on the tail side of certain dimes,

just to the left of the torch,

the little "D?"

Well that shows it was made at the Denver Mint.

Formerly owned by Clark, Gruber & Co.