Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-12-28
DOLLAR OF AMERICA.
4 Standard of Value That Will be
Used by 12O,OOO,OOU People
CT ALL THE AMERICAN REPUBLICS
To be Decided on at the Monetary Con-
ference This Week.
CHARACTER OF TIE PROPOSED COIN
+ ALL THE AMERICAN REPUBLICS
CHARACTER OF THE PROPOSED COIN
TrRoM A STAFF CORRESPONDENT,


WASHNGToN, Dec. 27.-Next week an
international difference will begin in this
city that is the of-shoot of, and only second
IN Importance to, the Pau-American Con-
gress of last and this year. 1t is called the
Monetary Conference, and its duty will be
Ia arrange for the issue of an international
dollar and Inferior coins, which viii be the
Dollar of the Daddies, not only of the
United States, but of all the Republics OF
the two Americas.
No end of designs have been suggested,
principally bv persons who were ready to
make suggestions about everything under
the sun, but nearly all of them have been
either grotesque or lacking in that SIM
plicity which is the first principle of art.
Waiting for the United States.
The Is Republics which are interested de-
sired to establish the coinage of this inter-
national dollar when their represeu utatives
met here a year ago, but the delegates ap-
pointed by this country-Nr. Estee, of Cali
fornis, and 7. Jefferson Coolidge, OF Massa-
chCsetts-tought over the question as to
whether the coin should be of gold or silver,
90 that the conference adjourned without
reaching determination in the matter.
tral America were in accord on the subject,
and they said that they would wait until the
United States had made up its mind as to
what i wanted. Undoubtedly, the dollar
viii be OF silver, and the general sentiment
is in favor of one that shall be Of the value
of the Mexican dollar, which is worth 90
cents; whereas ours is only worth rs cents.
Character of the Dollar.
All the countries concerned in the agree
meEI will coin the new dollar, each one in
quantities proportonate TO its population,
and the circulation of the new piece will be
made compulsory by law throughout the
Americas. One face, bearing the likeness
OF Columbus, or whatever other design NAV
be chosen, will be always the same for the
United States, Brazil and the Argen-
tile Republic, Chill, Peru and the rest, but
the diverse viii have the name and insignia
Ct tile nation which issues the dollar
The object of this proposed coin is to
facilitate commerce among the American
Republics and to obtain security againstthe
great fluctuations in the price of silver
which has hitherto caused so much financial
trouble. as remedy for the difficulty,
Secretary Window suggested that the
United States Treasury might issue certi6-
Gates of deposit IN exchange for silver bull
ion deposited, giving TO the certificates the
Its deposit, and redeeming it at the market
price on the day OF its redemption.
Tindom's Idea Not Popular.
Taking into consideration the VARYING
value OF the commodity in question, such an
enterprise would seem TO be rather OF the
nature of a gamble on the Government )
part, and members of the Pan-Americai
Conference were not inclined to approve OF
the idea. So universal American trad.
dollar Is to be established, and it is likely
that monetary commission will be created
:or the purpose of issuing the coin and es-
tablishlng its circulation.
The dollar having been determined upon,
5O-cent piece and other subsidiary tokens
OF value will be added. 1t is expected that
these coins, SO distinctively American, will
obtain very general recognition and circuIa-
ton abroad also. Silver has been called
the pocket money of the world" +" and it is
expected 10 be of the greatest benefit to the
commerce, which is Beginning to develop
between the United States and the Southern
Republics, that there shall be sinre
standard ofvaIue common among 120 000, 90
of people. LIGHTNER.