Griggs courier., 1891-07-03
THE SILVER DOLLAR,
The Cabinet Decides Against Its
Continued Coinage.
A Constant Demand for small Coins. Pr,n
clpally Dimes-secretary Fosters
Plans-Some Interesting
--.s, Statistlcs:
SILVER COINAGE.

cabinet meeting. They had counted
on decision to continue the coinage
Of silver dollars after July 1, and this
they believed would send the white
metal upward. But Secretary Foster
found that additional circulation could
be secured for while at least in a
better way, and this way will be fol-
lowed. The act of March 8, 1891, re-
quires that the secretary of the treas
ury shall, as soon as practicable, coin
the trade dollar bars into silver dollars.
Secretary Foster also finds that $3.50, 600
has been appropriated for the recoinage
of the subsidiary silver coin into such de-
nominations as will best serve to give
it circulation. There is constant demand
for small coins, principally dimes,
which the mints have not been able to
supply. The secretary has decided that
his first duty in this matter is to obey
the direction of congress. Coinage of
trade dollar bars will transform into
standard dollars IS, 14S,2s1. It will re-
quire perhaps four months to perform
the work of ceining trade dollar bars
and recoining the subsidiary silver.
Therefore the question of the con-
tinued coinage of silver dollars is not
deemed practical one at present. The
cabinet was helped to this decision by
the figures prepared by Director
Leach, which showed that the act of
July. 1890. was practically taking
care of the whole silver product of
the United States and was add
ing steadily to the circulation. By
the time the trade dollars and the sub
sidiary coins are recoined the meeting
OF congress will be close at hand, and
with the possibility of legislation ahead
the treasury department is apt to
continue the coinage of silver dol
lars unless directed by the law
making power. So this propo.
sition may be looked upon as settled
adversely.
The demand for dimes continues un-
abated and most of the recoinage for
the present will be of that denomina-
tion. although twenty y-fve-cent pieces
may also be coined at San Francisco
The coinage of dimes during the
last three years has been So, 3,176, AL,
or 81, 764,71O pieces, the principal part
of which was executed at the Philadel-
phia mint, taxing that mint with its
cramped space to it's utmost capacity.
It is proposed to distribute this coinage
between the mints at San Francisco,
Philadelphia and New Orleans.
By law the coinage of minor coin
one-cent and five-cent pieces-is con-
fined to the mint at Philadelphia. This
coinage has been very heavy for sew
eral years past. During the last three
years tho coinage of five-cent pieces
amounted to S., ,09s, 161, and the coinage
of one-cent pieces to 81, 49,, 1854, making
total coinage of It's. .4s7,43O pieces.
This has all been absorbed by
the public. and there is every indi-
cation that the demand for these coins
will continue large fer months to come,
and add. considerably to the work of
the Philadelphia mint. The coinage at
the mints at San Francisco and Carson
City after July will be confined to
gold pieces and such e-coinage of sub
sidiary silver coins as may be required
on the Pacific coast.