New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1880-12-07
SILVER DoLLA


In compliance with the provisions OF the act ~ Fen
ary 2s 1873. 6u the lat fiscal year "a 26231l3S
ard ounces SILVER bu lion costing F2491z IOl 81
tan average OF S20S1Cl3 i Der MONTH were our
chased OF which 2i00J5G6 IL ounces were coined INTO
2 9S $50 stand ard silver dollars TIE total coinage oil
standard SILVER dollars since tae passage Of the act up
to November l. 1880. ms been S'Z,Ni''JV,a' ~E!cn
s470sl 451 were IN ,he sGy; OF me latrrr
SILVER certificate roe mpun; III actual circulation al
t0at daic being S25 .763.29l
issued numerous c1cuaraFnd noucc' 10 toe pnIlc IN
winch IT has offered every hicehent Ehth ~ n"u' f
unae. The law, 10 facilitate the II '.a al'ion oh ana
crn alton oi these CONS. L mas required Uhtf odtrS
slrT.j1@ one r, To- nav ~ N On ~ paymrlt for sal
aries and for other current obga0ns aui has offered
to place silver IN i1c hands n the pe'lt br u~out
when by express and a an Np'us" Tor REGISTRATIONS
fee only. when +cnt ~ reg,st'lcd m"l 90. .,
Notwithstanding ta's citJrS, rs Iglnd 10 Dc iilhcnt
to main am clCu atUn mne than 30 per cent oI Ihe
amount coined. Mhne at SPECIAL seasons o. lhe year,
ami cil purposes ms com j. - HeHIn1 many
in the sou H. u G-an to the esu y, ANA ts
rel involves ~ Np.n.c Tor lr"hSpoii'll' ~ I'D
aycraEc rate ~ onci!rd obi per GEN r'c" tt 'lar
gold coin cd states notes. doe. 1"t - the same
extent, rrla Dar ! hr permanent ciItu t',It
acceptable ann, "th loving in'o th' ira uI5
easily paid oui WIZ lltlr or ho c. 81 transpoftatyl'
The for hls popular discrimination against tue
Isl l. is 100 bulky FOR large ira slrous, and i's use
IL niutd manly 10 payments 9f M na a. y a,d 90, or
market purposes &C ior change lhe tnoun hrrHeu LOT
these purposes already III excess u ihc probable de-
Iii, l.gown to contain quantity OF silver OF less
marRet ya ue than abe aod IN Goiu com. ihi' ii'l
Of
cXpcrtcnCr oVs To- j.. coNrHeu' OF nv nu IL us
prrycn lis heing ld or hoar1ed 90. reserve. Or rN-
ported AMI pushes ID mo &C We cL'u"il" un.h re-
turns 10 the Treasury, as he Icis NauaDie ana rloie
money }. us. .,,,. ,,
earnestly recommend nat the 'uiic' cOm'u'"Ih c'iu
az OF ~. sly.r dour bc -usprdcG, or an aiterna-
i've. that tho numb Il grains "i siVI IN me u" ar re
increased as go make 20 rqua Ih IA iHe' l"t q" ~.
old dollar. and ma 49, coinage te 70 'S ot"tI iiS,
Mini t. .cud upon tEc deiuard for II bJ the pubhc
~ Go' igcd cae Of the silver dollar necessarily
involves the expenditure c S2OG0OOH per month OF Tie
current rrvc.ue. the proceeds Of Wh.ch Wuat Hs cA
iro a laryc rxprIse for storage and custody. Nncn
ISSUED. considerable eXucuse Tor ltS ilanaporm09 Is
som returned 10 the yauls tue Treasury. IA" ten
dpucy OF tbis process S % cOhVc I'M" 7liFcr con" rue
t,i. I,. 80 for a Jew wears moro VIII be
m g,d coin IRRESPECTIVE D the silver on hand, or to
>" 60 tic s,i'ee silver standard for All Govern
'""' W. 'i7 r... .l.i.ct tuqrif..flv d,4f,1,cd
IN me p1s,l.. If te act fur the cOI-e OF the
4 % t 10 ne people OF the lted states Inc
Dredis ,f a Iu.t Inc Standard Of value. 10 iorc
Div ufocd I. C.nonrtz- silver WOnd increase the
burden Of deDis ana me yaue oi property uprn
iutcHtiou 0f the ramcrs OF the oct - demon ~ gpO
nuf to maintain b1th gold ami SILVER - standards Of
value iLi- has done for IN usan Of years; but
only by aoOg NJ, as ucaiy as pvsSlpt, thr irIhuNc
akeI value OF the two metal a. The ratio Tor couage
period OF years II WAS demonstrated MAJ the market
rduo mad changed The United states has CON
fr ned 10 flls riecfa Of clyinz paons. and Con
sftution retoyaz by authorizing Congress to coin
nancy. aud 10 regulate Its value.
'Under tins authority Congress provided, 10 1893 hat
me rao shoud he one ounce of gold DO fl teen ounces
Of yer ana on tue Is # June, SD II cnang-d tine
ratio TO on. ounce Of gold sixteen 'uncc' oi liver
| wlulc appear thai Congress somcwha. oNerra.ed
s,v,r i'm 7g3 and undrrra'rd in 1884. but u
crraiu that iX ounces ~ sllNe: are i worm one
ounce uf gold i If silver were coined WI hou mint on
that basis II waud evehtIaly Drl5 Us 30 ..igI, s''F,r
Standard and reduce cod 10 commod'ty or dFc o. u
foreisa countne--" result not INTENDED ny the ACT Oh
ihr aycr.ae 81 Of the silver in standard dollar,
showH by ,la ucha-es for tne Government FROM The
oar. ol Inc Resumption act 10 tins TIM" measured ~
gold standard, = SO9O6, or Do a IA no ~ 10 lEGi
vtluc to "a -oid dollar. should contain 4553 grains A
inc expense % coming silver dolnr 'quh To the value
dderty b.. i.v-d that o silver dollar cOni1luins 400
grams, based upon ratio OF one oi s,i TO "t0ut re
rXpnrta ION. without deu0nctK ROd or DISTURBING
c0ir.c.s or business ami ~i Great advantage % ihe
silyrr mining Interests country Upon the facts
stated IL would som % b. pocy nov. ~ the spirit
Of the Cons ulOn. Iate oy la" ne 60 value OF
Ito Two metals to con nm to tle market ratio
Thc co i rcc3nine tIc silver dollars already issued
into dollars Of The wceht So 'ges'et - estimated at
ab ,u p-r cent o. 1928 AZ 80 Nue. confusion AID
DEUS hdv, arisen from fcd! hs - rloh ihe an -
cucc between the cost o. the SILVER union coined mo
SILVER collars and tue lace value OF ine Dc Il r. coined
fheIeigom THIS difference from February p, 1873 the
da of the Act authorizing their CO!ag, 10 ven b r..
1850 is rs $40 s7l 49, FROM TINS suou be deducted
TIE txp,nar already incurred III distributing the coin
anj 6y wasas wnieh anon Us 10 800 o " ie.tlhA
As The net ncl'1 profit the sum q" SOS 500 ~, OF
which - 1873 29l 80 nave oren deposited ~ m Treas
ury, and $1,000 5os - remi1 ~ ne mint lis nom,
ma prOht Durlened VIII! thr necessary oil receiving,
red Cmlfg. tnb-t doIdiS al thcf
uominal value i'm god coin, and 81 reis~ug transport
IN aud maiu aiming them IN Circulation. This buren
VIII SOON tXnah-t the nominal prom. wen heiu Nv
the oyernen the cOus of 10 more real value than
an equal weight Ot standnid SILVER bullion TO the e1-
tenn u the ference wccn Their bullion ana nominal
vauc taey are purely nat mOhel' ms n"h'hh Piom
applied 10 the purchase 81 silver Ouon wOnd NJ sum
Client L. entire cost o. covering me present
dollars INTO au equal number OF The proposed dOllars
or in Ler u the pfeson dolars were converted
INTO The less number o the proposed dollars the homl
nal loss would fully covered by the nominal pr III now
IN the Treasury ana thc minis
IL may better Congress ut the present tme con
Ace action to the ssprusl0h OF the co1ase oil 81
yer dollar NEGOTIATIONS wlnforelgu powers
for the adoption OF an lnternatlOnal rai p conpeir
duty report upon TINS subject the secretary
feels bound to his conviction hat IL Is Tor me
OF silver - III great canse th has occurred
iu the relative market value Of silver ana god III the
chief mars OF tue world, to adopt ratio or c"nage
based upon market valur, aud 10 conform al t1Sung
coinage to rauo while ma nainlng the gold eagle
of oar onsgc at It's present. weight ana hneness. he
confidently bcevrs tnat the fleet Of biS measure WOud
bc make our god ava silver coins the btst inlerna
oual standards o. value known Already the double
eagle issued without cost Tor coinage, ana IN greater
than other god COIN ana OF edl' vaue 70 any
whether measured by weight or tac, Is re-
ceived without question III all COMMERCIAL countries "s
the most convenient medium OF 'XcIdnSe. IL is be-
-yeo hat a SILVER dollar t1e weight aud ratO OF tue
opposed would he the test SILVER standard 1of
Oua exchange, and that II wOJld tend 10 fix the
market value OF silver bullion at he RADIO proposed aud
would thus. ~ lar as pIacucabi' avoid tae changing
realivc value Of the two metals, while giving stead
market for the product Of our country
In rbs connection, the aer ton OF Congress Is respect
fully cd to the operation OF the aG approved Jun.
o. 1879 requiring the redemption IN lawful money, AT
tue olcc OF Treasurer OF any assistant treasurer Of
lie United States Of IN silver coins OF The united states
| of snal ier denominations than one dollar.
When fractional silver coins were aIi horized by the
act approved February 81, 1898. they we're made &
contain 3s4 grains OF stan a,d SILVER To the dollar 1h
was subsequently changed by the Coinage act 81 1873 10
% grnmuIes or 355S grains. ihry mus contain 20
ans or ucary Ga per cent l.sS inan he standard dbl
lar Pu0r 10 1853. D. reason OF ID" large pr duction
gnId in Cor.ta, standard-HvcT dollar AID IT. frac
1inp,l uars had market vsur above par IN gold
AID ere largely exported TO prevent tcir exIo "a
! ton aud tu accordance with the cX tfnpie of Grra
Irilu tue policy sdpptrd, ny thar ici, OF reducing
me wcIgIt of MINOR silver c1lu ~ ths ppiIcy op
q a cd Vel until ~ IN spring Of 1852 both goid
siy.r ceaseI crcuiite as money During the 5uspcn
.lon of specie pty rcuHrAIDle decrease In th
ralre of ii ycr occurred ana now the market va us -
The silver In dollar OF thc fractO la CON IA only s2l
| cents. ,,-....., 1000 - .
the nr0yslons III the L. sumption act, when btituie
yer 60 I'D for fractional CURRENCY, WAS s4SDa4 OIL 4
I'm, mas been added "A very large sum Is u before "a
war AMI gain introduced mo circulation since Tue
sumption nf specie aymeats IL Il dIloult Ia deiermu
mo amount OF such old coinage IN circulation, bnt II
believed 10 1cccd S2200O 900 Pier 10 the act o. Jun