The Bennington banner. [volume] (Bennington, Vt.) 1858-1894, 1890-01-23

the future as 10 the past. 1t is for Yer
monters to say what the future Of Ver-
mont shall be.
GOOD SILVER IN NSPURIOUSUUINS.
Macy people have rrmaI k-d, says the
Sunday Press. that counterfeit coins of
the dollar, half and quarter-dollar de-
nominations are not nearly so frequently
met with as they were few years ago.
A belief prevails that this comparative
rarity of cOunterfeits is apparent rather
than real. The heavy decline in the
price of silver and the increased coinage
of that metal are currently believed to
have something to do with this contem-
pnraneous disappearance of the formerly
familiar lead, glass or composition quar-
ser, half dollar and dollar,
With a legal silver dollar in which
the intrinsic value OF the metal has fuc
tuated from 20 to 30 per cent. below the
face value of the coin it is pointed out
that the counterfeiter need no longer
resort to the base metals for his mater.
,al. How are we 10 know that much |
Df the silver coin that passes through |
our hand and over our counters every |
dty is not false as to the assumed stamp |
of the government, while genuine enough |
a. To weight, fineness and purity of the |
si yer it contains. There is certainly a |
handsome profit in making silver coin |
that NAV be passed at from tweDty-nine |
to tnirty-six cents more than il cnsrs
In recent article in Frank Leslie s |
Illustrated Newspaper on Our Snver |
Coinage" by Gen, raj F E Spinner, ex.
Treasurer OF the United States, this pos |
Ilbilry is suggested in somewhat strik- |
ing way. The veteran financier is e. |
pecially savage in his deDunciatlon Of |
he silver certificates, now forming 30
large part of our currency, which he
sarcasticalIy denominates warehouse
certificates"
According to the monthly report OF
the Treasurer of the United States for
the month ending with October 81
1885," writer General Spinner, 'tht
mount outstanding of these govern
msnr warehouse certificates was over
$277 900 900 Both the coin and the GER
fl at-s m isquerade about among the
pt uple with The dollar mark on theil
faces but strip off the mask from their
face, and their real value, seventy onr
c-nts. appears. These government ware
hou ,e cer ificates differ from the ordinary
honest warehouse certificates in thIr,
hat while the one represents truly the
amount of goods in store, the govern
ment warehouse certificates states an
amount in excess of the amount that the
wares cost the government.
"When country banker l took a lol
Of Spanish doublOons into Wall street
for sale, One was pronounced to b.
couU erfeit. Experts IN the United
States Assistant Treasurer's Office AMI in
the Custom Hou confirmed the decIs-
Ion, had the COIN assayed and 1t yield.
ed SIS 20-nomiual value SIG. Here
was a counterfeit that was a real cOun-
lerfelt made for less than per cent. o.
the investment, while in the making OF
an imitation silver dollar, that would in
Il respects be equal to one from tht
United States Mint the profit would b.
light times as great. If any persons
hink that the outside silver coin could
he distinguished from the one emanst-
ing from the United States Mint l will
state a fact that will dIsabuse their Minds
in that regard.
While treasurer of the United States
| became suspicious that large part ol
the nickel five cent pieces were made
| butSlu6 vi Inb OulItu Otdlco hiubs
directed that a lot of them be selected
and sent to the Mint for its decision on
their genuineness, and | was informed
by the Director of the Mint that they
we're couterfeIts, but that he was uDabl'
10 ascertain the fact, except on an assay
IF the coins, when it was found that the
proportion of the fferent metals com
posing them varied from the composition
If those issued from the MINT The
MI aused these fa' t. to be published
N Philadelphia newspaper, stating the
component parts of the ge iuine coin
t1us giving the counterfeIter the very
information that he needed to make hl-
coin exactly like the coin from the N NJ,
80 that no one can by any test tell the
counterfeit from the genuine five CEN
coin, II is my opinion that the greater
part Of the nickel five cent pi c's now
IN circulation came from other mints
han that of the Uuited States.
Bearing these facts in mind. can any
pne doubt that our deprecated silver
coins will not be manufactured outside OF
rhe Mint and be deposited in the govern
ment warehouse and warehouse certifi
Gates issued thereon for circulation
among our people? Our silver coin is
standing invitation to outsiders 10 manu-
facrur. it, as it would yield an enormous
profit and defy detection. The fraction.
al silver coin is even worse than the full
dollar. The half dollar is worth only
thirty two cents, the quarter dollar s'x
teen cents and the dimes less than Six
and half cents. There is scarce
doubt that spurious coin is already in
circulation. Well, what If it is? 1t is just
az valuable as the genuine coin.
"When the time shall come that the
government shall honestly redeem, as il
should do, its silver certificates in gold,
the certificates that were issued 10 other
cheats may also have to be redeemed,
Can there ever be conviction tor coun-
terfeiting our silver coin when by no
test whstever can IL be distinguished
from that issued from the Government
Mint The intrinsic value of the two be-
ing the same, could any jury be found
! that would convict for passing such
, cnuntarfeits? The silver mines of our
county, that was intended by a beDeh
cent Providence as blessing to man
kind, are being transformed, by the Gu
; pldity of the selfish few, into an abso-
: ute curse to the masses of our people
IL will not be long before all will realize
; the fact that silver is no longer necessary
AS a coin for clrculatisn, and that the
warehouse silver certificate is but poor
substitute for an honest, redeemable
PAPER currencyr
To acrrtain how the actual experience
# those who know most about the melb
: dds and operations of the ''pushers OF
, The queer" a Press reporter called at
he uffice Of Secrel Service Bureau for
! the federal district of Southern New
: York. in the Post Office building, and
questioned d-tecuve, who for twent,
yeas has been fereting out and convict
ing counterfeitrrs with large measur.
{ 4 success He was naturally reluctant
20 talk about the business Of the Secret
! Service Bureau for publication. Bu'
/ General Splnntr's assertion that there Is
a great deal of spurious coin In circu!a-
| ii N which defies detection. because
/ made of geuuire silver, caused the detec-
: tive to smile derlsively.
> THAT shows how little General Spin