The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1878-01-30
THE TRADE DOLLAR.

REFUSED AT THE OFFICE OF THE sUD-TBEAs-
| URx-NoT TO BE RECOGNIZED AS A LEGAL
| TENDER.
The latest embarrassment in the silver line, both TO
the government officers IN this city and those who
been receiving what they supposed to be legal
| tender silver coin, Is the rejection OF the
trade dollar by the Post Once, custom
House and United States sub-Treasury. com'
munications have for some time reached the HERALD
from merchants. shopkeepers and miscellaneous
class OF persons complaining that they could not pur
chase butter, cheese bread with The trade dollar
without submitting to discount; mat pu'cners'
bakers and candlestick makers wore going back
hard money ana that even Uncle Sam refused
al the windows OF the Post once the cumbersome
but some attractive coin. reporter, therefore,
called at the government building named apd rendered
a bright trade dollar In payment Tor package OF
postal CARDS. when the following conclusive convcrsa-
tion eDsued -
"Can't receive this. said the clerk.
''Why not; is It counterteit2"
s'No It's orders."
"From whom7n
"Our superior officers. You we took 'em
dollar orawo time from customers, but We
couldn't pay lem out. When offered one to a man
on Saturday he put his fingers 10 his nose and said,
You can't play that l AMT smart,
but / know better than 10 take ninety
two cents tor a dollar and no walked away
with the air OF man whom somebody
Why l remember only littlo while ago the people
were grabbing trade dollars and keeping them lor
pocket pieces; now you have 10 the RESTAURANT
and saloon keepers to Change one Tor you. We used
TO pay out few on money orders, but they woDI so
now, and when we oier them 10 cnange for bill,
box rents are being paid, they are almost nvar-
POSTMASTER JAMES EXPLAINS
NnCtm star YAr rad n o.
ments from his duties 10 answer the inquiry of the
reporter reference 10 the question ''We have re-
OF envelopes, stamps or CARDS. Tor The very sim.
pie reason tnat the United States sub-Treasury,
posit "I our receipts has rufusea to take the
CO n named from u.s. HAD no exact knowledge why
treasurer to make inquiries ana govern himself ac-
cordingy. He reported TO me The result, which was
that although as matter OF accom- oassion Inc
from DIS well as from the Gus ON House, ihey
would do so no longer alter Saturday last
''Was this action based on specific orders from
Washiugtou?"
Il cannol say, but presume So"
..Does II net seem strange That coir made by the
United states government should be repuaiated in
United States Office?
III would seem sou answered Postmaster James,
'but a tod that The trade dollar a legal
tender; indeed am pretty sure IL is not.''
Mr. Harvey Major, the general treasurer of the
Post ONCE called stated that upon apply
ing 10 Me- WhIte the assistant SuD-Treasury agent
THIS city, Tor the reasons why The trade dollar re-
that Treasury ORDERS from Washington made IL I'M
possible; the trade dollar was ISSUED Tor u special
pui pose ana MOI legal leader. y
GgNERAL HILLHousE REFUSES THE DOLLAR.
When visit 10 he United states Sub
Treasury, General Hhouse, the Suu-Treasury agent.
SAID to reporter, ''Thcre has been general and
widespread delusion regard 10 the trade dollar IL
was, as you will see by the law to which shall presently
refer YOU issued ior specific purpose Tor trade as It's
name implies, and rs not legal tender in any sense
OF The word. refer you TO TIL JOINT resolution OF
Congress for the issue OF silver colu, passed July %
n
egisators who framed the law by wnich the trade
dollar has been demonetiZed. II reads as tollows:-
That the trade dollar shall hereafter DO legal
der and secretary tho Treasury hereby authorized
. INIT time to time the coinage thereof to such
amount
referring Of TO the ten millions OF dollars
nuned In the introduction to the act"
WHAT PEOPLE ARE CIRCULATING.
In order " arrive IL very interesting estimate OF
the silver coinage, which me people OF TINS country
circulating assisting TO circulate General Hill
bou 50 showed writer official report ued by
the government, and showing tue Coinage OF the
various denominations OF silver from 1898. The re-
port ended the fiscal year June go 1871 In this IL IL
that the total legal tender SILVER In circulation
was iOlOwS:-
DoIiars-ss VAS, s3s; half dollars Sis sG9 $40 5O
Quarter dollars, $34 TIA, III 90; twentyceut pieces
$40 S5S; ten cents, SIC, 1855 30; i've cents,
81 006 948 %; three cents, SIPS $50 20. This
ate OF couisc, did not include The com called tho
trade dollar about which there IS AT present much
trouble.
THE DEPRECATED SILVER TOKEN
From the time Of the formation OF the United
St.tes Mint up 10 1874 there was no coinage OF the
trade doAaE Below Will DO found the dates aud
amounts coined OF what must now be considered v
giittering gen erality:-
Date. AmounG Ddte amounts
1874. ST., 800 lS16..... So l32, 050
1S75............ 569I, 500 lS7L......... 0l62,90O
-