Maryland independent. [volume] (Port Tobacco, Md.) 1874-current, 1883-08-03
WORE aJOd The TRIE DOLItR.

The trade dollar is no, money Ia
the words Of Assistant United s,,,..
Treasurer Acton they were ma, mad,
as money, were never LOCALIZED and
were never rccongized as monev The
Government cannot redeem than 4 il
wanted To do So" The Government
"nly puts its stamp on 40 grim. Of
900 fine silver. and thus certi6es 10 n,
fact that it coatains 40 grains which
are 900 fine. For years the trad. b..
tween America aud the Eastern n.,;.,.
principally China, was carried on large.
Is through the medium Of the oh Msr;.
can dollar, which contained only about
tl2 grains Of 900 fine silver The
'Hited States Government saw Ina, il
could dispose Of about S35 900 600 Of
silver at profit by coming and s,,np.
ing these dollars for China winch acre
TO take the place Of the Mexican doll,r.
So the trade dollars were mad. and
stamped. Any one who wanted them
could buy them from the Government
for i2O grains Of 90O-6ne silver. ina,
was all They were not put GU, as nancy
~ matter Of fact, there are now ,hon,
), GOO, 900 of these trade dollars IN cir.
czlation in the United States and The
loss to those who have paid 100 cents
fIr them al their intrinsic or bullion v,lus
would be S750.OOO. These s 600 600
dollars arc part Of che IS 600 600
at the mints, which never reach. |
I'd China, because Of popular CRY here
for silver dollar before the Bland dol. /
ars we're authorized. Although con.
aiming y grains less of 0OO-6ne silver
han the trade dollar. the Bland dollar
passes at par. This is the result ef The
heap silver cry of 1873. Mr.. Bland
Missouri Congressman, succeeded in
getting bill passed through Congress.
uthorlzcd the coinage of a legal tender
liver dollar containing only 4l2I grains
4 900 fine silver. This was 1.-The dol
.~>,sf our dadies. authorized BY an act
+ 1887, but ccssgonetized BY subse-
uent act of 1878. Thefewssr 1854.
9g of these coins turned out by mints
etween 1887 and 1878. The act Of
87S authorized the coinage Of 2, O00.-
90 of the "Bland dollars" per month.
nd there have been 145, 900. 900 Of
hem turned out, Of which about 35 :
90 600 are in circulation. The rea-
on why they. although OF less intrinsic
alue than the trade dollar" are taken
,r 200 cents is that debtor is compell-
d. to lake them in payment. They are
lkcn BY the Go, e-nn snt itself for duties
nd for all obligations due the National
treasury. Business circles, however.
which regulated all values, W.. not be
ats6ed with these Bland Dllars."
nd will not use them, In consequence
hey are left to accumulate in the United
tates Treasury to such an extent as TO
ause great uneausiness TO the Treasurer
department. Assistant TreaureF Acton
ays that there is an easy remedy for
he nuisance Of the trade dollar. He
Idvises that the Government shall call
n all the trade dollars" in circulation
It their full face value, ald melt them
Town into subsidiary coins-haf dollars
quarters. etc. and they will not oBly
over all expen ses but actually make
/ profit to the Government For in
stance, a trade dollar contains APO
gains 900-fne, while two silver half
dollars together contain 3S5 grains 500
inc, difference of thirty-fve grains
profit of 8 cents, much more than
,nough to cover the cost Of coinage.
~--~-~=~~-~~~--@-=--z~=~@