The sun., 1883-12-05

Loan of July aud Anau,, isoi q per ceup, 2sS noS
H"n. r"rg ., ssa Ssaen ~ is q per taSo
hSsn az s.r 2. 'my olt ana Antas' aasooo
Loan q March s. 1888 continued at as per
pSsded loan Of it6i, continued at sH per -, .os ia
Loan Of GuIy "a 6 per cent? $3.50
Total s7b $50
The reduction in tho annual interest charge
by reason Of these changes to Nov l. 1888. is
on bonds redeemed Or interest oeasea 50 20 40 90
on bonds exchanged Into per cent bonds 23i'os 10
81 aus sos IS
issped e Se ,'''. on p4.'" pe. .. 4s2 20
Ne, reduction. ............ sopsS o2i rs
STANDARD SILVER DoLI.AEs.
On Nov. l. 1883. under the act Of Feb, 2s. 1873
hsa SsG s Se1s were
tho Treasury at tbnt date SIT .3s8.Ol7. There
account Of profits on the coinage not yet de-
posted r. ihe Treasury s4osSt s.2 aJn There sss
and the same date in 1888 had Increased
tae amount L. elreyatipn 3, 90, Ter the
amount ready to DO supplied and the domand
department
TIE TRADR DOLLAR.
Hero may srenk OF ''the trade dollar" tho
debased coin 10 which attention has beon
Doubtless the iegisatiyo purpose in croa,ing i
was to make u piecc OF money that would lind
ut home. That purpose was not made known.
however, by the letter of tho law under which
whieS the '% coinage aye Of It began has It these e Words
Tho silver coins of the United States shall he
trade dollar; u half dollar. or ili'y-cent piece;
dime. or ten-cent piece" The act further de-
ciares that the relative rr2Por.ion Of pure
vices and legends upon 1t. shall be the snDIe
those those OF tho other coins Of the IN United States:
crime to counterfeit any of our coins, and as the
trade dollar was declared to be- a coin. made
iis7s made the silver coins Of tho United
States. and hence the trade dollars. II
nny sE onn asasr not a sr dSsr Ss S"1a GaI % ThSs s
tho reading Of the laws taught the people that
the trad, I dollar %asa coin Of Their Their soyereiEn
nnted value. their Government WAS bound
The real Legislative purpose is TO be biindiy
@nt rSs"luien Of s6 Which sa took away y @
down tie coinage OF it to the cali for it iar ex-
pnrtation. 1t i plain thnt a busy people. find
STYLED a coin OF the United States. would read
ily believe that 1t was an authentic issue OF the
ernmcnt tho same as other money put out by
| it, From time to time however. rs 1t suits
n 1nsas nh he hue n and
marts, and unwary holders suffer loss or incon-
| ventnHce.
As it is u coin of the United States. having the
image and superscription thereof. sanctioned
as such By penalties upon the counterfeitinG OF
ment o! debts and dues. 1t should be restored
to its first state; or called in at its nominal
partmenL it should be thus called in and melt
Ad hy that nat d Fs h%s bsn Sssn
circulation until after the passase Of the Joint
eS.s e. whssb sa% the
a il IL N I n r.aln m
1t at more than the value of it as silver bullion.
Secondly; On The hs. other hmm. hnnd it is AS asserted
Ss ,ss$ ssas "s aaS sfs; s$
"A silver M doiar;S ohereioiore coInod ,v, q
anaen and As trade saa be
Eroatsr in weight and MS great in tinsness as
sreater gre Includes tho less. il Is argued that tie
phrase :, Of like weigh: and linsncss" takes IN
the trade dollar. makes II again legal tender
declaration thereof by this department. to put
IL in thG sane, same rank and i'd aScsntah,y as the
is too technical and close for use in
whe we the Prms ACTON aei eonl
tinued silent snfIeranee OF the Government has
ten,ions is not VOL founded. Tho phrase '' OF
like weight and ilneness" may Drorerly be said
nc Of i7os and % isS Tney % consanad Iesr exncs
the same amount of pure metal as the do lar
nnth2rzed by the h act OF 1875 % ana md n" Nils His,
department has boon and still is OF the opinion
that a correct legal Interpretation OF that act.
in connection with the JOINT resolution of 1876.
denies to the trade dollar lceal-tender quail
i'y; :. ,ossih,o 70 ,,,,a =, .st,,,o,o -, Cha
amount that would come to the Treasury for
redemption il authority we're 4 ven therefor.
446. some OF that has disappeared in manu-
lnetureh articles; IT is estimate. from ono to
hereof went abroad in the beginning. and it is
believed that but a small part Of that has come
but from lve to eight millions. OF that which
remained abroad there is good authority for
Csa to ndn % and no the I9G mating ms way na m rn th
mint in Calcutta and has been there cast into
I tne coin IN Of annt rI eInniry % The oyerTsght and
Mexican and spanish dollar. with which ii was
c"-cnrrcpt in China, brought much Of it to the
circles thnt in China silver coin is used by
MciEnt ,A an and not by count. save in a few ports.
are taken by tale. 1t IL the practice of Chinese
bankers. SO it is reported, 10 stamp with their
own mark the coin which, they take and my
out. Tn. coin thus defnc-d soon comes to the
state and repu'e Of bullion, and the presump,
them been SO treated and so suffered.
son.. Hear In mind too thnt from tune to time for
date. there has been inducement to reshfp, this
coin from China hthcr. because it has been
and ar Of II The Tine i ps4 of Fl
gold and silver money. There is reason to be-
licve. then that nrsides the sum OF IL In the
hands OF our own people. ian embarras ssing
amount will not come upon us from abroad.
thorough and effective redenp ption of II can
, he brought nbout in this way Lot authority
De given by Congress TO the Treasury Depart
lnent To barter Tor trade dollars at their nom.
, inal value. standard dollars ut their nominal
value and melting the trade dollars to recon
, them into standard silver dollars. counting tho
trade dollars got in this way as n part OF the
silver bullion which the act Of 1873 empowers
, and directs to be bought and coined monthly
/ Should the trade dollars have been SO abraded
IN use as to have lost considerable part OF
, their original weight. which is not much to be
) apprehended. a deduction might be made iron