Watertown republican. [volume] (Watertown, Wis.) 1860-1906, 1874-12-30
TRADE DOLLARS.
The Rivalry Between the American and
nlexlcan Eagles-Uncle SANS Bird i'm the
Ascendent.

The people of China and Japan,
though not over particular in many re-
spects, are exceedingly fastidious with
regard to the character of the money
they handle. They have no eye for the
beautiful engravings on American green
backs; the elegant portraits on the cor
ners thereof are to them uninviting, and
the landing of Columbus and other his
torlc scenes depicted thereon are to
them sealed mysteries they have no in
clination to penetrate. Like many more
civilized people, they are lovers of hard
money, and even when hard money is
protfered them, they are overnice and
exacting. From time immemorial they
have abjnred the American dollar, and
Glove fast to the dollar of Mexico. The
| Mexican dollar was either Of purer
quality than ours, or heavier with GUAM
| tity. On this point the metallic reporter
of the Calf failed to interrogate. It is
certain, however, that it was of great
or intrinsic value, which the Oriental
eye has not been slow to discover. For
long period heretofore, even the sail
ors in our national fleets in Chinese and
Japan waters, have had to be paid in
Mexican dollars. Justice to our GAL
liant marines has demanded it. What
could be more humiliating to their ma
tional pride than to receive their stated
salaries in foreign coin? and what, at
the same time, could be more consoling
to- Their thrifty instincts They have
thrust the dollars of our neighboring
republic into their exchequers, and re-
fected with sigh on the financial de-
generacy of their own country, coupled
with its evident magnanimity and JUS
tice. To this unwelcome picture there
has also been commercial phase. IN
til recently, the Mexican silver dollar
has had to be purchased with gold, and
at premium at from one to seven per
cent. Even our gold the Celestials
have scorned. The burden of this pre-
MUM has hot fallen on the United
States Government alone, but also very
heavily on - firms and individ-
uals. All commercial relations with
Cuba and Japan have been
maintained at the cost of an indirect
tribute to Mexico, through the medium
of this monetary discount A redress
was easily to be discovered, but until
very lately it was not discovered. The
persons who should have been the nost
deeply concerned in the matter seem to
have been long time in taking action.
At last they moved, however, and the
result has been the American trade dol
lar, which is, without doubt, the most
exquisite silver coin that has ever been
manufactured since men commenced
putting money into their purses. It is
ga thing of beauty" and, when gath
cred in sufficient quantity, will I'm
doubtedly prove more of ga JOY for
ever than anything else Mundane in
character man can busy himself &C
cumulating It ia three-fourths of a
grain in fine silver heavier than the
Mexican dollar, which it is intended
to supplant, and in accuracy
and finish has no superior in
the world. On one side is the
image of California, throned in serene
majesty, and on the other the great
American eagle that Fourth of July Or
ators SO delight to apostrophize. AS
much care is taken in coming it as in
the coinage of $40 gold pieces-in fact,
more. Each 500 gold piece is subject
ed to pressure of LIS tons, while on
each trade dollar the most insignificant
line is brought out in shining distinct
ness by pressure of 200 tons, almost
enough to make the eagle squeal The
object is to make the trade dollar such
an unrivalled specimen of coin work
manship that no Oriental will feel com
pletely happy until he has dozen Of
them in his pocket. Already hes the
premium on Mexican dollars declined
to one-third of one per cent, and the
ambitious myrmidons of our new mint
hope to see the day when no.
body will take a Mexican dollar so long
a., al American trade dollar is anywhere
in circulation. Hereafter our tars IN
the harbors of Cathay will go ashore
with trade dollars in their pockets, and
live on the fat of the land Only the
fact that the trade dollar is more valua-
BILE than the ordinary one OF silver, pre-
vents it from monopolizing the chan
nels of circulation on our own shores.
At the old mint, by dint of hard work,
trade dollars were coined to the amount
Of $4,000 per day. At the new mint,
with only an increase of one-third in the
force employed, 10000 trade dollars eau
be ratified out daily. In other words,
Is, 720, 900 of them in a year-enough to
make any reasonable man comfortable
for the remainder of his life.