, 1879-06-21

Tile following IL the text Of the bill 'at1opt-
cd by the House Of Representatives, without
division, relatiye to tho so-called Trade Dol.
lars:
- ~ II tnacfea, ETC., That the Secretary OF tho
Ireaaury shall cause to 10 exchanged at the Treas.
nry and at oil Sno.Tseasns;es OF tho United statca
lcgal-tcnder svcr dollars for Trade Dollars at mar,
provided the weight Of aaid Trade Dollars has not
becn reduced below tic standard weight aud limit
Of 8ulerance provided by INV for the s,ne1o p!ece
ana shall recoin said Trade Uo!1asa Into loyal
dollars ~ now provided by Inv, and ahatt stop
further coinage of tho Trade Dollars; provIdtd.
that tho Trade Dollars fecofnad under this act shall
not bc counted part Of tho cotnags OF silver "a.
sntted by tho act Of FcG: 2s. 1873; and, prorlded
.farsheF that tho Trade notIara that have been
chopped or ssstamped:'lor ctsculntion il. China
Or othor foreign countries shAtl be excluded from
the provisions OF this act. r.
The faot that there was no call for tho yoas
aud nays on thia billHshows TINT thoro was
no desire on the part Of anybody in tho
House to go on the record In opposition to
the measure. TLis,I circumstance, III turn,
indicatss that the proposition Is almost uni.
Torsally supported without regard to partisan
division. Tho fact that tho bill il 80 re-.
garded should gocura prompt and roatly con.
curronce FROM the Senate. A similar propo-
etton WAS made In tho sonate on tho first
day Of tho extra session, but 1t made no Aead-
way; now, however, the bill should be passed
without delay. We presume that Mr.. Bay
ARD could smother 1t in committee just as le
did tic WARNER bill, and that the Democratic
apprehension Of party disacnsion would, In
this rs In tho other case, prevent tho minority
from taking the matter out Of lis hands but
1t is to be hoped that the sontimont Of ins-
tieo underlying tho bill will secure for II dr.
forent treatment ut the hands Of the Senate.
Tho coinage Of tho Trade Dollar was au-
t''orized at time when its weight was auro
to load to It's expectation, and 1t was designed
to further commercial intercourse with
China. The subsequent restoration Of the
standard ailVer dollar to it's lega1-tendor POSI-
ton In our monetary system aud tho decline
in tho bullion value Of silver operated to.
gother to keep considerable proportion of
the Trade-Dollar coinage IN this country, and
the relative intrinsic and legal value OF tho
Trade Dollar aud the Standard Dollar pro.
duced palpablo solacism and much euabar-
1asEment. Trado Dollars wore extensively
emitted by the bankers and brokers. and tho
people took them at par; then they aoprocl-
ated because they were not logql-toailer, and
"aro bought up at q discount by tho very
people who had issued them at par, There
ta no doubt that tho recoiuage Of those dol
lass into standard dollars will ba beneficial 10
d large nnnll,ar Of epeculators, but this fact
Should not presont such fac07nHgc; 6ccat.so
TINT courae is tho only ono which can prevent
new speculation, disturbance, and injust;co
In tho fntnre. The Govorninont will loso
nothing by tho operation, sinco the differ.
enee in actual weight In favor of tie Trade
Dollar will moro than pay the cost O. recoin.
ing. The whole work will not 10 very iul-
portant, for there are less than $4,000, 600 Of
Hose dollars whlcl. will como unlor the pro-
Visions Of this act. The total amount Of
Trade Dollars coined by tho Government ia
about $a0,000, 600; Of this amount about
WI, ,ooo, ,0N' hayo gono 10 China, and havo
Ehere bsen re.stamred 40 as to bo excluded
from recotnnga under tho act; the re.nain. |
na $4,000 600, or loss, constitute tho entlra
mud. We shall thus get rid OF llle bastard
'oin, and the Government will be sparel! |
Fha humiliation Of having ons Of its own
'oins at taiscount. though actually contain-
ng mora metal tllan it's standard coin,
Those people who have Trade Dollars which |
hoy accepted ut par at tune when theae
lollars circulated frssly will recoiye full |
'alue for them, md tho country will be woll |
iii OF about tho Last nnisanca in tho loug
rn 6f iaprccf0ta3 ou.4,un,,