New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-07-01
THE TRADE DOLLAR MUST GO
CONCERTED ACTION AGAINST THE COIN

| CONCEhlED ACllOS hOAtNSt a. ne NOA-N
HISTORY OF THE DEsPrsEp PIECES OF SILVER
METHODS OF GETTING RID OF THEM
About decade ago the United States Gov
crnment wishing TO find market for the Increasing
production o, the Nevada silver mines. hit on an Id
geuos scheme for getting rid OF 1t to advantage u
coined $4,000 900 pieces containing 42O grains OF
silver and OF attractive appearance and shipped or
rather b., gan shipping them TO China and the isast
Indies The suppositOn that traders In those couh
tries where the Old Mexican dollar was the recognized
| trading medium would be attracted by larger anu
handsomer cou and that therefore the piece OF silver
niuted by the United States Government In the FORM OF
,Sin would bring more than n II had merely been cast
! into square lumls Unfortunately the scheme du hoV
work well. The Inhabitants of the Western seabo&rd
detained much of the bullion ana passed IL into general
circulation. Then those for whom the coins were III
tended did not such affection for them AS
hal been anticipated. and quantities of tho so-caeu
trade dollars were constantly lin ing their way back 20
the home of their birth In ls1G Congress passcd o
which robbed the coin Of any shadow Of status ms legal
tender, and in October 1877, stopped Its coin'ge
| altogether.
This anomalous position of Affairs despite the almost
yearly introduction and immediate shelving OF DIS pro
vdimg :or It's adjustment continues at theprescnt une
There has for time been ten feeling o. dssas-
faction in the public mind in regard the presence Oh no
obnoxious coin. The consequence has been tha' Tue
manifesto OF the produce merchants last week. "hlcH
match applied 10 powder magazine: popular eXplo-
sion amusing its universally took place almost imme-
dately and for the last two three days minor pop
pings and erupons have been Of almost hourly occur
renee.
Yesterday the exchange brokers were doing rushing
business Streams OF OF all sorts aud descr
tons, from sharp-eyed Hebrew uchins to trembling ola
danes swathcddespte the heat in black wooen shawls
trOnged the counters, bearing with them canvas bags,
leather yaises. and newspaper parcels, out OF
which poured trades in lots OF from one or two
TO three hundrc and sold at - cent discount
On Friday night enterprising persons did stroke
of business by boarding Third Avenue surface cars.
handing trade dollar to the conductor receiving %
I'm change and promptly getting OF Another car
would then be borne down upon and the thing re-
peatedr piles Of trade dollars ~ the compauys
Offices began TO grow larger and lare e authorities
determined that the game about P ed, and told the
conductors that after twelve o'clock no trades" worh
be received. Yesterday printed notices placed at
each end OF the making the familiar announcements
"ND Ira lie Dollars or MGtIlattd Com k-cciycd.'
The smart sat.oncr Win helped 10 pnsh the agitation
by printing tie announcement copied In Fridays
TRrnNr has found The bread be cast upon the waters
returned 10 him Indrcdfod lie 'od Tie placars To
the astute gans IN large Quantities at two aud three
cents apiece and the youthful merchants shrrl ucty
retaied them five cents. working with such VIII that
there il scarcely retail shop which Inns not the
shoes reaIus ~ paper vegetables Joints ~ meat ns
the might be-. A. might be expected some stores,
fare. tried to get ahead ~ th'r ucgno4 nud dy 10y
displaying the counier-announccment. Trade Dollars
Received" one of tie LARK .hfoauway c!oiblnc L.in7
also tried 10 make capital aud attract customers ia this
The dairy aud country produce mcrcAants Who were
the first enter the ll-i- have uuio iluuder IN
gard to which they feel rather soro The Statement
ONeru hundred prominent nin- attached their nia at
first aud 70 which naar- are constantly beng Edited.
the public has taken mp tno cry and n- The merchants
have considerable supply arcadi on hand. tnAcu az
the extent OF H. cents Oh the dollar NAcn they come 60
A numlcr Of prominent busiuc-a nrrra employing IN
the aggregate some thousand OF voraucn. were seen
yesterday ot 81 IHihtNL rtpoii'i, .Au "-"cn whether
they werr going 10 pay any portion of tlc wasca due io
their hands ~ trad dolars la O, case tle reporter
only medium used Tor this purpo.' but several Of mo
slnact ''H''.H ma ' " '" ''' ''t " '"' 'I.'t'
10y ptnlhs oh thr lirk" lrh'rI "i 'Atu-A tuc "o4A-
mems statement are % lc cictit'd.
-. a t a.1 I'm ' ~, 'i.'' '' ''' ,,
the TACT "I-o ina th'i - -I"L ''iiS iIi' ''I
ought To- take the mater M The best course e De
coin and the c-IaHiinE Cd. N .atn Subsidiary coinage.
when. pointed ont IN the IEnrS- oi Friday. proht
sidcr the benefit 20 the public ~ having lager supply
Of hall dollars and qnnrtcr- Assistant Treasurer Acton
said yesterday: What snil Go yol tAe othgr day s
urli,rot. com. and re- MINI fn,g rer ar, MI money.
they oull silver ga oranlc foTp A. 80 is tie oas
v LIZA, d c,,1 Of '' non reor ir ,b ,orrII All
yesterday bringing trade dollar, 10 redeemed TLey
had got IL notion ~ some mrgiuta'c fashion inht to
Government would redeem them 90 par until JulF 7.
The amount OF general ignorance on tho subject Is
amazing"
Already Police Justice ha- had 70 arbitfate tho
question. Yesterday carpenter named Isna SCHNEIDER
appeared Ia the lorkgir Police court. and said that
he had done WORK Tor William Eosenuauiu, Third
ave storckcrper ON Friday l.o-rnoaia laid iiH
trade dollars. which he accepted. but when
later IN the day ne rendered them across Ho-onbauu
counter. that w soD o Israel shrugged hls sAoIlders
and remarked: do not daAe dfade tours bcrc i-h
dsugouut OF fifteen per rAfut. s'hr!p me gracious.
SCHNEIDER though - poor rnlo which T"nld ro. WORK
both ways. aud Sc cordlncy summoned Eu~suhaun be
iSI' u'tee ~n,'e ~o n1,11a iN. ~, mae, cine, iIS
def tn tIu md
thefeupOn discharged.