The weekly Union times. [volume] (Union C.H., South Carolina) 1871-1894, 1891-01-09
DOLLARS FOR THE NEW WORLD
New Coins to be Issued for Eighteen
American Republics.

A new silver dollar will be created BY
the Pan-American Monetary Conference,
which meets in Washington, D.. c., in
few days. 1t will be a dollar circulated
not merely in the United States but
throughout all the eighteen republics of
the New World. What it will be like
remains TO be determined by the confer
ancc, but there is very little doubt IN
his point. In all probability 1t will re-
;cmble somewhat the United States silver
dollar, with portrait of Columbus to
takc the nlace Of the. Goddess Of Liberty
The eighteen republics in question de-
sired to establish the coinage of this in
ternational dollar when their representa-
tives met here year ago, but the dele.
gates appointed by this country-Mr.
Estee, of California. and Mr. T. Jefferson
Coolidge, Of Observation-Disclosures over
the question as to whether the coin should
be Of gold or silver, so that the confer
ence adjourned without reaching deter.
mination in the matter. All the othe,
nations of South and Central America
were in accord on the subject, and they
said that they would wait until the Uni
ted States had made up its mind as to
what it wanted. Undoubtedly the dol
lar will be of silver, and the general SEN
timeut is in favor of one that shall be of
the value of the Mexican dollar, which is
worth 90 cents, whereas ours is on'y
worth IS cents. All the countries con
cerned in the agreement will coin the
new dollar, each one in quantities pro-
portionate to its population, and the cir
culation Of the new piece will be made
compulsory by law throughout the Amer
icas. One face, bearing the likeness of
Columbus, or whatever other design may
be chosen, will be always the same-for
the United States Brazil and the Argeu-
tine Republic, Chill, Peru aud the rest
but the diverse will have the name and
insignia of the nation which issues the
dollar.
The object of this proposed coin is t,
facilitate commerce among the American
republics and to obtain security against
the great fluctuations in the price of silver
which have hitherto caused so much fl
nancial trouble. As remedy for the
difficulty Secretary Window suggested
that the United States treasury might is
sue certificates Of deposit in exchange TO.
silver bullion deposited, giving to the
certificates the market value of the bullio,
on the day of its deposit and redeeminy
it at the market price on the day of its re
demption. Taking into consideration the
varying value of the commodity in aues-
tion such an enterprise would seem to be
q g s,'sss 8 ~ Issss;.: : ssssss:
versai American trade dollar is to beses-
tablished aud it is likely that monetary
commission will be created for the pur-
pose of issuing the coin and establishing
It's circulation. The dollars having been
determined upon, fifty cent piece and
other subsidiary tokens of value will bt
added. 1t is expected that th.se CONS
SO distinctively American. will obta'r
very general recognition and circulation
abroad also. Silver has been called ''th'
pocket monoy of the world, and it Is ex
pected to be of the greatest benefit to tn
commerce which is beginning to develop
between the United States and the South
ern republics that there shall be singl
standard of value common among 12O,
900, 600 people.