New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1878-03-12
4 coYEEEEycE Of COINAGE.
THE CAPACITY OF THH MiNrS-npw NIX. SHERMAN
CONSTITUTES THE LAW ABOUT SILVER CERIIFI-
GATES.


CONSTITUTES THE LAW ABOUT SILVER cEIIIrI-
IGrN2r' PRESS DirATCH.I
WASHINGTON, March 1.-THE Secretary of
t!e Treasury d the Director Of the Mnt were before
the Committee on Coiuagr Weights and Measures to-
da consultation ia reference To the silver coinage.
Mr. stephens wanted to know the construction WnicA
the Secretary the Treasury Iivius To tnc pro
vision recent act regarding The i.suc az ccriih-
cate, 10 The depositors oi silver bullion, whether
those certificate, were - b" for the coma
value OF the silver at the rate Of II FOR ll2is
grains O weight or whether they were 10 Dc Tor Inc ac
tuil market value Oi the silver
uhc,cs are TO he based Oh actual narket yaHc OF i
silver the day 81 deposit based upon the Lon Ion ava
Ncw-York quotations Of tna day II they shoud Ia
based on inc coinage Hatue o, the ""l"1 'iiIi'I
would be- presented FOR redemption until silver
rO-c 30 pence per ounce. The secretary also favored
the issue OF the" silver ceii'neai"S ana tue receipt o
the bullion on deposit I"r tn at ON! ono pDh' ana
market OF the country. lie seemed 10 think
that II the deposits were allowed 10 bo made
AZ san Francisco aud Carson city, the
bulnoulss would sell the silver. but would endeaNor
/ 20 corner" the Government ns tEey would
still reserving their silver; this could not so
well he done in New York, with is supplies coming
how already the or,nar, rule OF supply and demand
has been reversed ami mat s,Srr. Instead Of beiGg
Orleans than in NCwl0rk, in New Iork Than In Lon
don and in London than IN India, is highest III it,
best point OF pr0duc ton, aud so on. Both no and
tue Director OF the Mint seemed To think that there II
pretty neayy contest pending between tie Government
and the buoIirts aud that, therefore, should be
to legisato to the dc'fimcn al the Govern
mcnt in which view OF tho matter the committee seemed
10 coincide.
Both Secretary Sherman and Dr Llndorman put the
present capacity of their mut- AT from Two and half 10
thrcs million silver dollars month.
TO the question to The OF doubling the capacity
OF the mIls, both gentlemen replied III substance that
tho qucs ton or delay than OF cost,
and OF the supply OF blion than or the capacity
OF the minis. Dr. LIndcrndn, however. Thought that
two additional mint. with the establishment Of the
New-Orleans Mint, which he reg1idrd most
important, would be all thar would be needed, and
would about 81 100000 Secretary sherman gave
his opinion that under tho legislation II stands,
from bfty TO II hundred millions OF SILVER dollars
caH he put in circulation and Kept at par
with gold lie favored the dscontnuanco of the
trade dollar coinage, apt 10 Dc source OF emDar
rassment, and stated that he preferred nickel Scent
pieces to silver He favored thG3ooton OF the 20 cent
silver coin, whose only convenience IN IN paving
10 drinks ana suggested the restriction Of the
legal-lendcr quality OF subsidiary silver coin 10
SO and the redemption of II III cgatc hdcr when
presented at SubTreasIles III sums 81 500 The mem
bcrs OF the committee aud the Treasury officials seemed
10 haruOnizc In their views most, II not all questions
tizp tl.Sf,l