New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1883-12-05

Of the Jaw uhGe The coinage OF Il began mas he
words The silver coins OF fe piece quarter
dollar or twenty ave-cent piece; nei ative propor
% metal and ALLOW in the trade dollar aI ~ The
vices and legends upon IT, shall DC III ct and later
otneT made III crime to counterfeit any OF our made
and az the trade dollar was decare "a made the silver
crime 10 counterfeit It. The act OF IL 80 ,c dollars
os of The United states aud hence the traao not
legal tender at their nominal vhe o tanSht the people
Got he trade dollar was coin OF their ri' their
for the redemption OF TTb e az real legislative purpose Is
to he blpdy sought for In TRADITION "a ne toint rcsO-
Ia Which TOOK away from this coin tne leg
tender quality OF IT, and held DOW" t t " bsv people,
Snding ihis coin afoa in the channels OF that IL
q coin of the United States, W0iu t and to he
Snd I Tho CoverT,rn mt the same "a Otner
ont by IT, From time to time us and cry is raised
ng3tnst II n il dscrcdted In the marts ana un"a'
suffer loss Ur Inconvenience r
suo1-ID BE CALLED N AND MELTED
A,s coin NJ the United states, having the image anu
orscrntion thereof sanctioned rs such 10y penIi. r
upon the counterfeng OF H. ana oo auid he restored
70 its Az state or called In at its nominal s Sid he
melted I'm the Judgment OF tIs ~ ~ First-It has
Tins called in and melted And why moi hnu,o crcu-
been claimed ofciay that did not go INTO n4U above
ation until after the passage Oh le of n was taken
from IT, Hence IL is said it is no duty 10 our bpilion
deem a! more b t ab 5 hand it asserted that the act
of 1873 gave back 10 IT the lesalteha9r qN' silver
9ct declares ' of four hundred and twelve and one
half grains. which; ,i wl'n , ~ AMI dneness,
heretofore c sba be- legal lender As to DC
tradedoar greater in weight ana S d1 he greater in
cIndcs the less IL il argued that the phrase o II
weight ana leJS for dcbts and dues and that there
needs hut declaration thereon by tns ,b standard
N sg a nd 40 there Is no need Of redeemng IT, me
frat of these contentious Is too techhc S en- which
in dealing with so practical matter ana Oh n NJ the
The nrine action and continued silent suneranSc y,
Government has been so mse b,osc ~ like
contentious Is not well founded Inc pni sot en- ony
weight and neness" may properly DC '1 60 and IS33
silver dollars issued under the acts Oh Te metal ms
They contained exactly the SAINT Hoa ana had no dis
fbe dollar authorized by the act OF lsIe' ana L
tinctve name srch as Inc on that correct legal
Interpretation OF that act IN eonneetoTh Wiz
resolution Of 1876, denies 10 the ua'e uo''''
# is nossble TO make an estimate Of the amouib sy
Nor GIVEN therefor The whole issue OF the con- n
bcen g35 96O 446 Some of that mas dsaPiet 20 two
mions II ia calculated that fycsixth Thereon Mil
abroad in the beginning and 1t Is believed ' W. held by
Pnr ncone int from five 10 eight millions Oh that ~,
abroad there oT ESSa chSa India
The melting not at the mint in Calcutta ana hS a
mr. thn by the side OF the Mexican ana
Spanish dollar with which 1t was cocuT,cit I'd e.tood
brought much of II the crucblc there ~ Is s d NV
e. G1sness circles that in China silver coin Is uSed W
Weight and not by count save in few ot PSr nv tale
Mexican dollars and few other CONS are ukeh w 81 4.
It is the practice Of Chinese banker ar 70 Se coin
reported to stamp with their own nlh coin ' tlms
Witch thcy take and pay out IAe con- i,,iin,,
defaced soon comes to the state aud ItPate OF
and the presumption IL that our trade ,oaiS h '''
| Of them been so treated and so suffered. ,o roors
Bear in mind, that from time 70 te tbr has bcen
pat u ~ n reship this coin from China hher because
II has been free I'm circulation III most Pls W "a uyep
ana St There is reason to believe then that besides the
sum Of II IN the hands OF our own peoPlr,u 'n
amount will not come upon us ffoih aOiohu'
A PLAN OF REDEMPTION.
, .,.r,,,ob and effective redemption OF II can DC
nroht about In thi. way Let authority he gwen ! "
Congress to the Treasury DepaIent dopI dollars AT
their nominal value and melting tne uhue 'rine the
coin them into standard silver ~ The bullion
bIcb the act OF ls7s empowers and direct 10 po oos
aud coined 10 @ ~ 70 have Lost material part OF their
so yyciHht which is not much TO be appIe Z
Scinction might he made from the price ana m,S'oii
made in subsidiary aud minor silver con
The agitation OF this mnter has ed V S'i ~ "aard n
- reIorntiou above suggested. a. the rlAiunu ~
Iar became OF its unlimited legaltchder ihi!,y -
equal in its faculty Of domestic piI ts Ijke atTnfed
eg,Itcndcr quality q T. said MAJ mus 20 eloi' III
holders Of the M 70 se Ina e IN popular esteem
and in practical value To a per VIII ,6au a. brino
ars ana s S thn also to swe the volume Of lesae
der silver money In circulation ~ - ' rorr Ths ~
o. ~ nav hc prevented 10y setting bound 10 the ln'
IrcI hAa the cxcian e. may De- made. II la" an
during Mcn should run but for twclvcmonth
r. ~ Inc coin would make haste 90 Tld ten-'ly'7 o
~ and NJ the end ~ the time little OF II "oud DE- l3I
u, lii =" nd toot little would ia back TO IT. bu.o'
,,iuc and cca.. 20 disturb Ia TIE way hyI'h, 'u' -
@ ,,f.sl 10 incrra-r y this means the conAfr OF tl'
.t"uiar silver dollar. but a. the trail i"ar, .dI I r
mem meet by much the direction l" ohy S'' '''
for dollar coinage. .,.. ,h.r. ,rc,l,
NOT s inc lar j1r,e u,nux 81 tradcdoliars from
,r',d IN cost 10 the Government, u
tniop N has been stated above that there eisg iV
iIicf that much which ha- gone aDIon naa pa, t'
80 in inns gui.c a. come back for cAch3er. ~ nov
Cyrra .ci .ous apprehension o. I'l 'H'll VII ~ ~,
Tarrovpr limit, and Instead Oh tWeIN cmoh.h - g',i
OF 70 wear Doe tine period iiyrd. lhs D'u' ~ ir
r1th soc a thr trade dollars mat are hu"il any "'I
hfol-hl ~ ,l ~, ,i h.. I'D of d,.cgriltcd aud de-
eminent, u "l1 we ''' ,o Ia. IN .t,lI WIN wish tina
those IN the hands OF our pgor 6r nnirl'i ~, i
mode recommended, WIN ''l. ., , H. iIc .Iu, rc
tcf. viii be- loss 90 the Treasury iii rccoiniu
,ic dollars ~ bullion into standard dol4r- rathe
~! @ r,, iuion in Che m8rkct 40 ruling rate
and c1uug 70 under CN-luk Jaw, u, iiy ~, IA H. ,tir
manipulation; and again. mat IN 'lI- q" ', ~ Wv
now got from buying nhllo A. l"' ti,oi ,iol =,
standard ouucc and issuing tie sumo IN nominal 'oii
a te rate Of say no Al Ecr aai far IN me re2T
tior o thc coin which must Doe lppkrl lul am prov
for a- Ia sooner later come, the GOVT a.
rule take II back az the same hoihh' '"''' '' ""''
was put forth. ~, 49,, a., .,.d ,.v,,,u,c ~,
s of The standard dollars VIII DE enlarged ana not
them will Dee forced into circulation 70 ,hv lna,o %
nf contracts and the losng of values, 70 l. 10 De- sal
tua desirable part OF ne lMh SUI 7,gl sii ~
nm Increase OF the monthly purchase oi sivcr buho ~
uf tine coinage OF the standard dollar lhhl part ~ w
"a fic Trade dollar II taken IN for the standard doli
paid out the former be counted ~ so much slysl nn1
and Inv 50 much ahutc from The purchase III c ma h
ndcr line act of S7S. And II The receipt OF lne u'
dollars nv the exchange I'm any month shhll DC w l'
81 treated a. bullion more In sum man "oHF ue pulca
W nj Two millions worth OF bullion then the excess 'ce'
On can bc carried forward from month 10 month so I1l
need be 90 keep WITHIN inc uitlll ~ IL nv, H.
oo Tor monthly purchases. Aud this would he more Oh N
T icy To come play the limit oi timG iog REDEEM
Wv hon shorter OF longer H. indeed. no limit o the
30 GXcd or fl was made IA long as tWcNemohI
this department could be empowered TO rcIu-s rcdtu
ION I'M nue month oil a sum more than enough To me
w tLr ruremcLt OF that act, ana stu maze Iu leueh
on tio of ai thai Is likely 10 be brought In therefor
90 ,yor tApcrIYIS THE HANDS OF SPECTATORS.