Evening star. [volume] (Washington, D.C.) 1854-1972, 1890-12-27
DOLLARS FOR THE NEW WORLD.
New Coins to Be Issued for Eighteen Amsei
can Republics.

New Coins to Be Issued for Eighteen Ansri.
can Republics.
A new silver dollar viii be created BY the
Pan-American monetary conference, which
meets here in Washington next week. Il win
be dollar circulated not merely in the United
States, but throughout all the eighteen re-
publics Of the new world. What it will be like
remains to be determined by the conference,
but there is very little doubt on this point In
all probability it will resemble somewhat the
United States silver dollar, with . portrait of
Columbus to take the place of the Goddess Of
Liberty on one side, the diverse varying.
THE DOLLAR WILL PROBABLY BE OF silvia.
The eighteen republics in question desired to
establish the coinage Of this international dol
Lar when their representatives met here . year
ago, but the delegates appointed by this coun-
try-Mr. Estee of California and Mr.. T. Jeffer-
son Coolidge Of Massachusetts-fought over the
question as to whether the coin should be Of
gold or silver. so that the conference adjourned
without reaching determination in the mat
ter: All the other nations of South and Gen.
tral America were in accord on the subject, and
they said that they would wait until the United
States bad made up its mind as to what it
wanted. Undoubtedly the dollar will 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 ninety-six cents, whereas
ours il only worth seventy-eight cents. All the
countries concerned in the agreement will coin
the new dollar, each one in quantities propor-
tomato 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 de-
sign may be chosen will be always the some
for the United States, Brazil and the Argentine
Republic, Chilli, Peru and the rest-but the OBJ
verse will have the name and insignia of the ma
ton which issues the dollar.
TO FACILITATE COMMERCE.
The object Of this proposed coin is to facili-
tate commerce among the American republics
and to obtain security against the great fuctu-
atoms in the price of silver which have hitherto
caused SO much financial trouble. As remedy
for the difficulty Secretary Window suggested
that the United States Treasury might issue
certificates of deposit in exchange for silver
bullion deposited, giving to the certificates the
market value Of the bullion on the day OF its
deposit and redeeming it at the market price
on the day of its redemption. Taking into con-
eideratlon the varying value of the commodity
In question such an enterprise would seem to
be rather OF the nature of gamble on the
government part and members Of the PAN
American conference were not inclined to ap-
prove Of the idea. So universal American
trade dollar is to be established and it is likely
that a monetary commission will be created for
the purpose of issuing the coin and establishing
its circulation. The dollar having been deter
minedupon 50-cent piece and other subsidiary
tokens of value will be added 1t is expected
that these coins. so distinctively American,
VIII obtain very general recognition and cir
culation abroad also. Silver has been called
1.-THE pocket money of the world" and it is ex-
pected to be of the greatest benefit to the COM
merce which is beginning to develop between
the United States and the southern republics
that there shall be single standard OF value
common among 120 900 900 of people.