Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1883-07-13

1t would he well il those who assume to
speak confidently about the trade dollar
would learn the real history of the coin, or
would at least tell all they know about it.
The Cincinnati Commercial Gazette says that
the dollar twas trick dollar from the Begin
ming" And Mr.. New. the assistant secretary
of the treasury, says that Congress twill
have to take care of the trade dollars out
standing. They were coined as dollars. They
have the Governments stamp upon them,
and the Joint resolution Of Congress taking
from them their lcgal.tcndcr quality was Ia
gratultously bastardze its own child" This
is the worst kind OF nonsense, because il
leaves wholly out Of the account the most
| essential facts of the case.
The trade dollar was authorized by the
coinage act of February 10, 1873, the same
which ''denonctized" the old silver dollar
1t was authorized for perfectly
legitimate purpose, namely, for ex
port to China and Japan. On the day
when that act was signed the silver in al
old silver dollar was worth-provided tina
one single specimen of that very rare coli
could have been found 10 value-$l.0la II
gold. That fact alone ia sufficient to dis
pose of the assertion that there was an 10
tention to '.jugglc the American people on
of the legitimate use of silver" ne the Gin
cinnati Gazette says there was. The &C
merely recognized fact, which was tina
silver was not in use, and that the value o
the Two kinds of dollars was different. Tn,
silver in trade dollar on the day the Law
was passed would have been worth thre
and a half cents more than gold dollar
And, as gold was at premium OF IA pc
cent on that day it Is pure folly TO speak o
the act as If it had any present or future ref
erence to the circulation OF the trade dollar
When it was first authorized ii was not onl
an honest dollar but II was worth as bullo
, more than auy other dollar in our coinage
1t is queer 'trick" in coinage to "palr
: OFF, dollar which Is worth more than an
other kind of dollar upon an unsuspcctin
public.
But the --LATEST nonsense that has bee
spoken and written on this subject is that |
which 1t is insisted that, as the governmeI
! made this coin legal tender, it is bound
, redeem them for more than their bullion va
. ue. They were authorized, as We have sait
' In 1878, when they were worth In greenbacl
10 per cent premium. None of them can
into circulation then or for long time ate
ward. They had not begun to circula
when, in 1876, in the resolution In which COZ
= gress authorized the secretary OF the treasui
v To issue fractional coin, II was provided tn
3 the trade dollar should no longer be q leg
tender. When that resolution was passt
!. the use Of specie east Of the Rocky mou
y tains was quite unknown. The trade doll
= has come into circulation since, in open dl
!, regard of the fact that 1t is not legal tende
u No man has been under the smallest Oblig
y ton for seven years to take one Of them.
y this part of the country they have not be,
. taken to any considerable extent. Every hol
u or Of them took his risk, and there is Meth
~ good sense nor justice in the demand tn
% Congress shall make provision for their !
y dpmDtion