The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1868-12-24

making IL available for coinage of rich nicke
alloy, such rs is now proposed.
Yet after admitting all this, II does not, in
our judgment, form a sufficient excuse for
those latter issues of the one aud two-ceut
bronze pieces which introduced new alloy
into our minor coins, and assisted very mate
rally to produce the present dsplorabls con-
fusion. All that we have said in condemua-
ton of the want OF character in the token
coins now in circulation is fully admitted on
ell sides, but some of our contemporaries
whilst admitting It, have asked, "Will not the
proposed new coirage only increase the con.
fusionY'
We think careful scrutiny of the law will
convince to the contrary.
In the first place, the proposed law pre-
vents the further coinage of the three and five
cent silver coins and the one and two-csnt
bronze pieces, and authorizes the Secretary
of the Treasury, under sucb regulations as he
may establish, to withdraw from circulation
all token coins heretofore issued. The law
also repeals the authority for the issue of the
ten cent note, which is one step toward specie
payments. 1t also contains a provision for
the redemption of the new coins in United
States notes, thus presenting a guarantee
against a redundant issue. We therefore
start out in the work of presenting "uniform
token coinage" with the coast, If not entirely
clear, at least in the way of being SO
very shortly. Authority being granted
for the withdrawal of the old issues and the
substitution of convenient, simple, an"
81 A.. A.l-.
be very long before the coinage now in use
will have passed as completely out of circula-
tion as have the Spanish fractions of the dol
lar under the act of February, 1857, or the
old copper cent under the same law. The
first step taken by Judge Kelley in the pro-
posed change of our token coinage exhibits
those practical qualities of mind that SO emil
nently distinguish him as legisla-
tor. He starts out by establishing a
system, very simple, yet complete, the
want of which was the great evil in our
past legislation on this subject. The first
proposition laid down is that there must be
uniformity of material. Secondly. AS near a
proportion in weight aud diameter as may be
practically possible. It is scarcely necessary
ing from the adoption of these two PROPOSE
tions. As to the first, not only will all admit
that uniformity of alloy is very desirable as
public convenience, but, aside from this, the
Mint experience has demonstrated the almost
numberle9s embaTsssments that arise from
the use of two different alloys in our base
coinage; while as to the second, there is not
H.
ing our minor coins observe-just as our
precious coins invariably do-a proportion of
weights corresponding as nearly as possible to
the UNCONVENTIONAL values, but the beauty of
the series and the convenience of the people
alike render this essentially requisite. These
requirements are fully met by the series Of
coins under consideration.
We are enabled to Fay this after having
carefully examired a set handed us by the
po]itepess of an officer of the Mint, electro
typed impressions of which will be found in
our money article of to-day. No difficulty
can arise in Distinguishing the denomination
of the pieces. Even in the dark no confusion
could arise, for they can be readily identified by
the touch. In point of desie Il and execution
ceiling in beauty those of Belgium, of the
same alloy. And here we may observe that
the experience of our own and other countries
has, within the past eight or ten years, estab-
lished the urdoubted superiority of nickel
copper alloy over all others for subsi-
diary coinage. When nickel is COM
bined with copper in the proper
tion of l to 3, as in the proposed coinage
it presents beautiful alloy, that preserves
its color, and has never yet been successfully
counterfeited, which is quality not lightly to
be esteemed. For the infOr nation Of those of
our readers who may rot have read our
former remarks upon this subject, We would
state that the weight of the new coins will be
respectively, viz,:-Five-cont piecs, 5 grams,
or about II grains; the thres-cent piecs, 3
grams, or about 46 grains; the one-oent piece,
u grams, or about % grains. In diameter
the fve-cent piece will be % millimetres,
the three-cent piece l9 mllimetres, and the
onecent piece l6 mi'lmetres.
The proportion in weight is departed from
in the one-oent coin, as gram piece would
have presented dificuIde3 in coinage that it
was deemed best to avoid by increasing the
weight to II grams.
From whatever point of view this proposed
new coinage is considered, We think il will be
found to be alike creditsble 10 the Chairman
Of the COMMITTEES or Coinage and to the Mint
authorities; and we have no hesitation in say
inc in conclnsinn that when the raonla oo,,a