The sun., 1883-12-05

tho period fxed. This. department would
rather see ali the trade dollargg that arc anoat
rid OF a discredited and lebased coin; but II
the The hands Of our, people be redeemed in the
mode recommended, with safeguards against
iGrSn Il re w be ss 10 Gs
Treasury in rec9ining,, tie tradf dollars rs
bullion into standard dasrs ella snrEs raser IT than In
rates and coming 4 under existing law, It may
bo answered that the excess Of silver in the ons
over that in tho other will be nearly IL not
tuIly enough 70 pay the cost Of tho manipulation.
and again. that the seignioraRe or profit now
90 $40 por standard, ounce, and issuing the
same In nominal dollars. at the rate OF say.
id,u i pr5t pst Si ,Re s ior the
dempiion Of the coin. which must he looked
for and provided for ms to sooner or inier come
the Govern mo Mt must. as u rule, take IT back at
the same nominal value at which II was pu'
forth.
change tho sum OF tho standard dollars will h
enlarged. and more OF them Will be forced inte
disturbance Of the re ative bearing OF exceutori
contracts and the jostling OF values. 1t is to ~
said tat %, tho Of pSSe Se msss
purchase of silver bullion and OF the coinngeo
the, standard dollar. That part is. % Tint as & "a,
M much silver bullion. and BY SO much abatt
the iiU act tt Of is7s. And il the receipt Of the
trade dollars by the exchange in any month
than would be a purchase OF two millions, worth
of bullion. then the excess thereon can be car.
need S.w' be- TO kSsp V Within The direction c the aci
Of 1878 for monthly purchases: And this thus would
be more or less likely to come into = plays PLY as the
longer. II. indeed. no limit Of time was fixed.
9ri was made ls long as twelvemonth. this
deDRrtment could be empowered to refuse re-
enough 10 moe, tho requirement Of that act
s,.N fsaIl damn tim NJ n In
il il be said that much Of this coin. diseredited
specnlators who haye taken It at a discount.
and that they would profit by Legislation which
may not be denied that lamentubly this is too faI
tho cnss. still II Is to bs answersd that such is
ns last isA i is s'fS i"rPs fedsamsd @ vii
make by derrecaiion and io,lo%inG ,o% aGpre.
oda LAY tho S. a u to- sas
who q deserveit The fault is not much sort
with the speculative trader than with the legis
slightly for attention. because, of the gres
s1SdH to eoeass ssR efa
this coin unredeemed and by and BY
will be once more set aioat at nominal value
to 10 in fniGess OF time once more discredi,ed
"'I O! good ifpe penpc M Moreover. ' The inormaton
which have G from practIsni and reliable men
most Of the working peoplc not in, In straits M un.
or s By Sss Ssv. ea S e dSrhk %n the sras
looking an, waiting for action by the Govern
ment; and that the amount stored BY broken
!ook them At ia lace lace for labor AND in trafpc il
Legitimate and honorable dealing. 1t Is best
once for ALL to call it in and put 1t out OF posi-
bic use.
legal tender quality be again given to the trade
dollar. to the sudden increase OF the Legitimate
e M n yh s4s
real value and OF different devices: yet Of equal
| value In payment OF debts and OF purchase oil
properly. It recommends that authority be
given for the redemp,i9n Of the trade dollar io i1
so received into q standard silver dollar to ao-
tion Of the amount OF silver bullion resulting
| from the exchange from the quantity OF bullion
o. Of the Of
| In the judgment OF this department th at legis-
Is SAFE Is , 9y the ter
relief from tho confusion and exposure to re-
curing loss caused by its presence In the
monetary system OF the country.
SILVER CERTIFICATES.
| The amount OF silver certificates outstanding
The amount outstandins a, the dale in
r&Ssss s III: 4rs..ary is'of
| lnbSe HkuTtS BLOW an lucTeuSo Vi inc bllSUt
| certificates in the hands OF the people OF $l9.-
1881. Figures given above show like in
| crease of silver dollars of 81 136, ,32l.
Yet it is apparent that any demand that is
likely to arise for liver dollars. or for the sill
| vef certificates based upon them. may be read.
iiy met without further immediAte coinage OF
| tho dollars or preparation of the certificates
for issue. II IL a lso aplarcnt that to keep np
rate OF over twenty-four millions of dollars
each year. is n needless waste Of public money
| and OF the taxing power to supply them. IN
curing needless loss Of the interest ON the
sum thus expended and the expense OF the
| manipulation. Apart from any consideration
Of the policy underlying the coinage at all Of
the standard silver dollar. as now Authnrized.
ury and its mints. for which there is no imme-
diate call might be- at least temporarily sus-
pended.
GOLD CERTIFICATES.
Under the act OF Congress Of 1882, gold cor
tilicates have been prCpared and have been