The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1883-09-29
WHERE TRADE DOLLARS ARE.
locked Up for False Pretenses"-views of
Bank Cashier.

Philadelphia Record
''What has become of all the trade dollars7" in
quired reporter, as he rubbed up against the
cashier of one of the largest banks in the city
yesterday
locked up for false pretenses," was the brief
answer.
"False pretenses?" exclaimed tho scribe
"N0w, You see the trades paraded around and
made people believe they were worth fun dol
lar, hut at asE the citizens tumbled, and the
trades were locked up for So cents. but hope
not for eighty five ears" continued the cashier.
"The loss does not and will not fall upon the
banks, because they had but n small amount of
the dollars on hand. You the bankers
ceived friendly tip of what coming, and
they unlOaded SO far they could. OF the
whole $500 national banks in the country L do
not believe any one Of them has larger pile
than 10000 of the trades in its vault which it
will be Obliged to wait to realize upon."
''But the banks have plenty OF the dollars hid
den away" said the reporter.
BLESS you, yes; but not on their own account"
replied the cashier. Just as soon as the scare
came the tradesmen who had the pluck to axe
them at par sought the banks ana deposited
them, as cash representing eighty-five cents.
For. instance 10000 of the trades entitled the
deposition TO draw from the bank upon his usual
account So, 800. Then other persons whose credit
was known negotiated loans, and put up the
trades collateral. The usual interest was gem
orally charged. but in many Of the cases the
percentage was small. Just what is TO be
done appears to know, because con-
certed movement has heSn made looking to-
ward the redemption of the trades par.
One gentleman, who Is out of active business,
chased AS low as eighty cents. he merely hired
a space in safety deposit company, aud mad
them locked up Until Congress speaks Two
large brewing firms in this city have, one so 600
aud the Other 10000 of them, clothing house
has 10000, and SO 1t is all through the list,
coming down to the person who has 5000, and
so on. Probably one of the largest individual
holders is the Reading Railroad Company. This
concern continued TO receive the trades until
the last horn blew. l guess they were current
up the Schuylkill Valley for some days after
they had been called in by the popular cry in
the largo cities. One bank in POttsvllle has 90
900, which IL would gladly turn ont at par.
Nearly every miner and trader has some in the
coal regions especially those of "A frugal dispO-
sitiOn who did not deposit in bank, but kept
their little savings in the old stocking at home.
"Here's apOint on this question that will not
charge extra for have heard people say: we
won't vote for this that candidate tor Congress
unless he promises to have our trade dollars
deemed at par Now, suppose he says yes to
the demand. 1t would be bribery, because he
would be paying fifteen cents vote, as the mar
ket value stands now. But there are more ways
of killing a dog than choking him TO death with
butter, and If the people refuse TO vote for man
unless they know he will help to remove the
nuisance, you bet all your trade dollars it will be
done"
At the Unired States Mint a few of the Ohjec-
tiOnable coin have been received for melting up,
but the figures small
United States Treasury official says that
there at least 100000 trade dollars in the
New York banks, and that il Congress can be in
duced to legalZe the coin there is at least profit
of So, SOC, 900 in the scheme.