Maryland independent. [volume] (Port Tobacco, Md.) 1874-current, 1883-07-06

ihe War ON The Trade Dollar. -Thc
'e'l'on Of the New York Mecautile Exchange
Ho' 70 receive the trade dollas after July
I'''ng been adopted by lug e proportion Of
'"e business corporations and wholesale and
'e''' merchants Of New York aud various
''''e' cries. sort Of panic has been inaagu-
'"'ed among holders Of that coin. Uutoriun.
"Fl' The whole history Of the creation and in
'ouuction int this country Of the trade doll
'"' is uusavory. Its existence ls a memento OF
"'"l corrupt period otour politics ten years
ago when private individuals were able TO
'"u'ce The government Of the United States
w. ~, cooperate with them to SECURE in India and
Ou'na market for product Of their silver
MINES and, it may be added. The activity OF
'le same interested parties is IN large part re-
sP0nsioie for the lamentable silver act Of 1873
Wh'ch has caused our treasury authorities to
invest ol44,0O0, 900 10 silver, to be stored
away TO purpose in the government vaults -
III November, 1872, Mr.. H. r. Liuderman
director Of the mint, in view of the demon.
euz''ioni Of $3.50, 600, 900 worth Of silver by
Ne "erHian empire, its decentralization also
W I"pan, aud its entire or ptrtidl expulsion
rom circulation in other counties by paper
money urged that 'the true policy Of this
country was 10 seek market in China for
silver bullion, aud in order to do this pro-
posed that our bullion should be put into
loe shape Of a coin slightly more valuable
IMAM the Mexican dollar already in circua-
non in that country. The idea was that the
new coin, for which Linderman proposed the
name "siver union, weighing APO grains
ana containing 31s grains Of pure silver, hav-
ing ITS weight and fitness guaranteed by the
stamp OF our mint, would "be accepted as a
medium OF exchange in our trade with China
ana very soon supersede the Mexican dollar
Inc American dollar contains about 37I
grains OF pur silver; the Japanes ven 374-lO
grams the Mexican dollar, 3734 grains, while
the proposed 'siver union. now known AS
the trade" dollar, was to contain, as said
before. 37s grains. Hence it was claimed
mat the intrinsic value Of the new coin would
enable IT in the trade between San Francisco
ana china to drive out all competitors. 1t.
coinage commenced in July, 1878, and up tc
Tue close Of the last fiscal year 80 $50 3GC
pieces were struck. The standard dollars
weighing 4l29 grains, and containing al
grams OF silver, is worth to-day but "a 9;
cents referred to gold, while the trade dollar
containing 37s grains Of silver, and having a
gross weight Of ago grains, is worth Sc ;.
cents. When it is recalled that in Noyembe
1872, the market price Of silver was 60 penc,
per ounce, and the price of the same amour
OF that metal is to-day but 90 Lie pence pc
ounce, the reader is enabled to understand
why the trade dollar is less serviceIhle abroad
now and formerly This slme fact of tn,
large decline in silver IN the last ten years eN
plains the popularity of silver among adyo
Gates OF "cheap money and emphasizes tn
folly and danger Of our continuing TO coli
standard dollars far below the rell stand
ard, which is Il gold dollar worth 100 cents
San