The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1877-07-06
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a Nsw Coin Metal.

x Philadelphia lawyer nnmca Hub.
b.l has invented combination 81
gold, silver And copper, which can hc
uscd IN coin, and by means ot which
II liz believed NIL difficulty a. ~ n
double standard of cAns can he
avoided. This coin metal III. invcn.
tor calls "goloid" Speaking VI the
Invention, Philadelphia cores.
pendent of the N. Y. t;rnnhic saya
Of II:
The proportions of the new coin
metal are one pound vi gold, twenty
four pounds of silver, md two aud
thrce.u,lnrtcr pounds III copper, thus
giving Is metal III thu same standard
Or ilncncss 40 the present coin ~ the
United states. N. proposes ~ coin
dollars, half dollars AMI quarter dol.
lars Ut "gnloii," Ito away entirely with
tls ptescnt subsidiary silver coins,
and atill leave tho Sahl, 10, tlO and
go gold pieces. The "golold" dollar
will bv II Trim. smaller thnn The pres.
ont silver hnlf dollar, and Will be
somewhat darker III tppenr.tiiee ~
well AZ much heavier II viii weigh
2bs Hrn!nr, md posses. tie intrinsic
value of tho prcs.nt gold dollar ~
the old silver dollar. II thus com.
hlneH the double standard In one
coin, IN forty III gold tn sixty NJ sil,
vcr. II cannot be used for either
geld OF silver manufactures, md
thus the circulation Will not b. ~.
dMcrd by i,s hiding lts way ~ the
lcwcllcl'. pot before II hAs been "
hours In circulation.
A great point In Ia lAsor IN its OK,
trcna hardness anil inasstrneubillts
40 TIM, the loss from abrasion will
be much smailer tisnn that II either
gold 81 silver. Thc best argument
Tor II. however, II TINT Il VIII 49, VI
taken out ri this country ~ 'i'lnsil"
uuAlIllee, IN silver nhi polI nrr III
prcscni. and sent 10 NIL parts ii the
world. Owing 10 this faet VIZ mover
knew tho amount ri coin In eitculA.
tlOn, As thousands Of dollars nrc
boxed up aud sent 10 England,
France, China and India every day
The new trade dollars which were
0rst coined. only n FEW years since
NJ present command n high premium
on the Pacific Coast, whef. they Mt
eagerly purchased by the Chinese
and srni to their uative country
This, OF course, could not be- done
with the "goloId" dollar. ~ u would
bc comparatively vi.lnelsts onttld.
" this country, unlcs~ tn competent
pArtn were separated.
Although the patent fol tlllr lnyon'
ton VIVA only received by Mr., HUI
bell ins week, he has lind the subject
under consideration for srvrlA
years. He has nlso brought the taet
before NIL the prominent iinnnci.r'
Of the country. who hive expressed.
themselves strongly IN favor ~ ~
new coin metal. brci.iniy Sherman
although powcrlrsr Il, net In The mat
ter, ~ such subject. IRE regulated u,
ConCrcas, Rny. lila careful attention
10 i,s manifold advantage. Senate
Jones. Ut Nevada, Regards 'Kolold
~ perfectly supplying, by liz .l"tib',
standard, the present n.c.HEitlch q
tho country. General Logan, wiz
MAJ chairman 0s tho Financial Com
mittee lust scHssion, thought 40 high
ly Of, that hc desired ~ bring TN
subject before Congress ut once. bu
~ tho patent hNd not yet beeh iss,lcs
10 VA. not deemed advisable Di
Lindcrn.nn, Of the United States
Mint, has also examined tho n.v
metal, and thinks thu experiment u
placing IL In circulation we'll WORTH
trying III thu coming srnsinn ~ Con
grcrs, A bill providing for the coin
age Of "gOiold" dollars. hull duiInI'
and quarter dollar. Will br brough
up, which, if successful Will noon Il,
away with dciaccd silver coin now u
1*tpnttfntinn