New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-02-04
"THE TRADE DOLLAR NUISANCE"

"The Trade Dollar Nuisance considered at
n meeting of the New-IOrk Mercantile Exchange
Yesterday no,n az their rooms in tn Erie Bulldlng
The nrrsident Washington WlusOr, occupying the
char Mr. WinsOr said We are O0nged 10 take
trade dollars at par from the grocer and retail
TO receive them from the public;
then we have TO sell them to the silver huckstets
or brokers. at a discount. Inc IattGr sell llen 10
large factories at a discount, and the factory pr'-
pretOrs pay them TO their workinen AT par 30 they
come back to u.s.
basits wings clipped aud this VIII e-liveTcd tmng.
despite its Endorsement by the nlted
States Government Is not esteemed nS
h Ino tie silver interest Of the Western
States want their products boosted along. The dol
lars lie stored in vaults until the walls are break
ing vet the silver men want the coinage contnu
and if more storage is needed, want vaults Dui IN
the Mississippi Valley to mol me supply h ne
taken away. although it is worth more than the
standard. All we have to do TO put an END 70 thls
state of things is to stand no ana say we VII n9i
take these coins. by their use we are snaeyq All
around, and it is the lnlqult0ls system wh'cn we
arc thus helping to build up, more than
The petty losses, which we object TO-
If we do not sell our goods for par money we
can never know where we stand. We should take
decided position in this matter for the butter ana
cheese trade need not be AFRAID OF anyone"
l. C. Malr stated that the poultry 'alcrs h9d re-
fused take trade dollars, and had carried Ihril
roint j. H. Seymour said that the lahorng people
were great sufferers by the ere lanon ol the com
in o1e,C0n Receiving from S3 10 Fl3 week; they
upra maid dollars al var, anu SoL
only s7l2 cents worth of goods for them
The employers who pald thelr heIp
in these CONS did not fnlil Their
contracts HcsoutiOns we've offered by Ben
iamin I'iner the superintendent OF the EX-
change W ich ftcr some discussion and amendments
were unanimously adopted. These declared that
tbe present status of the trade dollar caused 1t to be
a nuisance t. the people and disgrace to the
nation. and they characterized the dlscrmnation
between the trade dollar and tht standard
dollar in favor of the latter as absurd.
The resolutions add thai as the trade dollar was
issued with view to expiration, III the interest OF
the PRODUCERS os silver, made lcgal-tender and
then rcpudatcd in favor OF the standard SILVER
dollar issned in the special interest, the mem
hera of the Exchange are approheuslve that me
Government NAV pursue the same yaclilaiing policy
with the standard that IT dd with the trade dollar.
In conclusion the resolutions respectfully urge
congress: first TO authorize the issue of no money
that is not made full legal tender; second, TO
restore to the trade dollar its legal-ender junction,
and 70 cause the Treasury 10 receive II aud issue
silver certificates for il, as is now done with the
standard dollar and "that House bill No. 4,G71,
now or recently pending in the United states
Senate does nor fully meet the necessities OF the
case in relation to the trade collar, as 1t makes u
receivable only at n few mints Of the United States"
The resolutions suggest that House bill No. 1895
mir Cox's bill, restoring the legal tender TO the
trade dolIarl should be added to the first BILL with
n further addition providing for tho issue OF silver
certificates for the trade dollar. clause asking
The retiring of silver and the issue of greenOacks In
its place, " VIXEN necessary, was objected TO ana
withdrawn.