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 II
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
ance, but there is very little doubt IN
his point. In all probability 1t will re-
scmble somewhat the United States silver
dollar, with portrait of Columbus to
Take the. nlsce o.. the. 2oddesa Of Liberty
The eighteen republics in question de-
sired to establish the coinage of this in
| tcrnational dollar when their representa-
uves met here year ago, but the dele.
gates appointed by this country-Mr
lIstee, OF California. and Mr.. r. Jefferson
Ioohdge, OF MISUNDERSTANDING over
inc question as to whether the coin should
oe or gold or silver, so that the confer
ence adjourned without reaching a deter.
mlnation i'll the matter. All the otbe,
'atlons of South and Central America
were in accord on the subject and tbev
said that they would wait until the Uni.
tcd States had made up its mind as tn
what it wanted. Undoubtedly the dol,
lar will be of silver, and the general SEN
,iment is in favor of one that shall he of
the value of the Mexican dollar. which is
worth 06 cents, whereas ours is on'v
worth 7S cents. All the countries CON
cerned in the agreement will coin the
new dollar, each one in quantities nrn.
portionate to its population. and the cir.
culation Of the new niece will he nod.
compulsory by law throughout the Amer
lcas, 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 Aro.n.
tine Republic Chill, Peru aud the rest-
but the diverse will have the name and
insignia OF the nation which issues the
1ollar. '"'
The object of this proposed coin is f.
facilitate commerce among the America,
epublics and TO obtain security apains
he great fluctuations in the price of silver
which have hitherto caused so much 4
lancial trouble. As remedy for tb,
litficulty Secretary Window suoeesten
hat the United States treasury miSbt is
ne certificates OF deposit in exchange fo.
& '.ves ou'ii0h deposited, giving to the
the mar kct value Of the bulio,
n the day of its deposit and redeeminr
'h",NoI price On the uay OF Its re |
emPtlon. Taking into consideration the
arying value of the commodity in oues.
on such an enterprise would seem to be
at nattsGs sqf a 4 Sgamhle- 90 the
ined TO approve OF fhesi4S&, soia ~. 1 +
ersal American trade dollar is to bo'es-
.blishcd aud it is likely that monetary
commission will be created for the pur-
ose of issuing the coin and establishing
S circulation The dollars having been
ctermincd upon, a fifty cent piece and
ther subsidiary tokens of value will be
dded. 1t is expected that tn sc coins.
o distinctivcly American. will obtain
cry general recognition and circulation
broad also. Silver has been called ''tbe
ocket monoy of the world, and it is ex-
ectcd to be of the greatest benefit to the
ommcrce which is beginning to develop
'etwecn the United States and the South
IN republics that there shall be single
tandard of value common among 120,-
|00 600 people.