New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1877-12-04

! gold, ana only issued in exchange Tor gold
coin The right Of private parties to deposit silver bu
lion for such coinage repealed and these CONS were
issued bullion purchased 10y the Treasurer Of the
Mint only upon the account and for the profit Of the
United states The coin legal tender only pay
ment Of debts for all not exceeding five dollars
1hOughthe syeri this coin worth ;hc market 313
cents The dollar less than gold coin, yet IFS
nience for change. its issue 10y the Government
only IN exchange for, ana ITS practical cOnyerbiiy into
gold coin maintained it iu circulation at par with gold
coin II the slight IN the ratio OF 1892 prevented
gold entering into circulation for forty five years,
and the slight s37 brought god circulation
and baulshcd silver until 1893 how much more certainly
will an error now OF per cent cause gold II be ex-
ported and silver to become the sole standard Of value
Is 1t worth while TO travel again The round OF
errors when experience has demonstrated that both
metals can only maintained III circulation together by
adhering to the policy Of 1898
The SILVER dollar NOT mentioned i'm the Act Of 1888
but from 1892 uut 1874 il worth more in the
kct than the gold dollar provided for III The Act OF 1897.
1t was not current cou contemplated being in circu
ation 40 the passage OF the Act OF February T. 1873
The whole amount sacA dollars issued prior 1888
was S2jj3 900. Subsequent 10 1875. and until IL was
dropped from coinage in 1873, the total amount s
sued was s5A02s3S, or an aggregate " sos, s3-
and this almost exclusively for expectation. y tIc
Coinage act. approved February IL s73 fractional sill
yer coins authorized. similar In general charac er
IN them. To make them conform exactly TO the French
coinage ana the old dollar was replaced by the trade
dollar Of 400 grains Of STANDARD silver. Much complaint
has been made that this done with tie design
dcprNiHg TIC people nf ihc privilege OF paying their
debts iu a cheaper money than gold, but h manifest
mat this un error 80 did or could fore
see tho subsequent Tall IN the market value of silver Tho
lvcr dollar unknown coin 10 TIE people ana was
not IN circulation The Pacific SLOPE where coin
was IA common The trdC-1Oiar ol 42O gTsn4 was
suDstused silver dollar Of 4l22 grains,
II beeu that 81 wa better adapted 10 snpcrsedc
The Mexican dOa. IN the Chinese trade ana experiment
lroyed TINS be the tfadedOlldf
tbozed $50 no. 400 have Oeou Issued, nearly Jour
Times the entire issue Of old silver dollars since the f0uu-
datlop of the Government Had not the Coinage Act Of
1879 passed the United states would be compelled
10 pend the coinage OF silver dollars tue Latin
nations did Oh ~ sI the sole coin standard OF
YaIuc.
EFFECT OF I HE BLAND BILL.
Since February 1873. great changes have occurred ia
the market value silver Prior 10 that time the silver
in the old dollar was worth than gold dollar,
while AT present is worth about 90 cents II by law any
holder Of silver bullion might deposit In the mint aud
demand full legalender dollar for every 4i2l2 grains
As estimated by MI Yreen kDle, deputy OF the
ROy a. MIDt, December, 1910.