Lancaster daily intelligencer. [volume] (Lancaster, Pa.) 1864-1928, 1883-07-02
Hanraster f1ltellige1lcer.
MONDAY EVENING, JULY 2. 1888.
The Trade DOMar Craze.

MONDAY EVENING. JULY 2. 1889.
The Trade DoNar Craze.
The trade dollar crusade is the excit-
ing topic just now; it is the topic not
only because it touches everyone's pocket,
but even more because no one can un
derstand just why there should be raid
made on the innocent coin. It has passed
current for great many years, and there
is no greater reason for refusing it now
than there has ever been. 1t has not
been a legal tender and no one could De
forced to take it who did not want it. 1t
was taken because it was current and
it has been current probably because the
common sense of the people could not dis
cover any reason for refusing a coin
as a dollar that was intrinsically worth
eighty five cents, when they had to take
another coin as a dollar that has seven
and a half grains less of silver in it than
the trade dollar. The legal tender
Bland dollar has 4l2A grains of silver,
while the trade dollar has 420. If the
Bland dollar could be refused it would
be eagerly done and then there would
be reason for rejecting the trade dollar.
1t is evident that the present sudden
raid in the trade dollar is not caused
by any especial objection to it, as none
exists. The man who refuses a trade
dollar will accept less intrinsicaliy
valuable Bland dollar without objection
He does SO because he can pass it. He
cannot pass the trade dollar, because its
currency has been destroyed by sue
cessful raid upon it of New York money
changers. There is safe speculation at
the bottom of the movement. The idea
is to buy the coin in at the intrinsic
value, at which no loss can be incurred.
Then the popular excitement against the
unfairness of the government in selling
a coin for dollar which it refuses to
redeem at dollar is to he used to com
pei Congress to redeem it.
But that measure of justice will cont
too late when Congress meets. Then
the trade dollar will be mainly in
the hands of those who have paid
but eighty-fve cents for it and
whose speculation should not be made
profitable by Congress. The required
remedy should be applied now, and it is
quite within the power of the president
to give it. There are tons upon tons of
Bland dollars i'm the treasury vaults,
which cannot be got rid of. Why should
they not be offered i'm exchange for tite
trade dollar? Does the president not
have the authority? Can he not offer +"
exchange 4l2l grains of silver for a,and
thus make i profit to the treasury Who
will object TO his doing so good stroke
of business for the country ? Not the
people, who get Il current dollar for an
uncurrent one; and not the citizens gen,
orally, who exchange 412 grains OF sill
yer in the treasury vaults for 40. 1t is
an operation by which both parties gain
and no one loses.
This is Il remarkable result, but it
comes from the unnatural state of Oul
currency. The law cOmpelS the mint tC
manufacture more Bland dollars than
can be disposed of. If the treasury
could get rid of its dollars it would make
a large profit on their manufacture bui
they are dead stock and their manufac
ture is sheer folly. There isa chanc-
now offered to get more for the Blanc
dollars than they cost, and at TIE
same time to do just thing to the
people by giving them legal tender
dollar for one that the government issuct
without this fat attribute.
This trade dollar furry shows the value
that can be given subsidiary currency
by the Hat of the government thai i.
shall be money. The government could
make its dollars out Of cast iron and CIV,
them the value of Il dollar within the
country, if it was not for the great pre-
MUM that would be offered the counter
felter by the use of SO cheap Il metal
And certainly when the government lia:
this power, and when it has received Il;
dollar i'm value for its trade dollar, it i:
in the highest degree unjust to those wh'
nDw hold the trade dollars that they
should be permitted to be heeced out o1
any part Of the value they gave for them