The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1893-06-14
THE COINAGE Of silver,
Secretary Carlisle Reviews the His
tory of Coinage Since the
Days Of Hamilton.
The Silver Handled by the Govern
ment Has Increased Fifty
Times Since 1878.
Carlisle Says That Bonds issued wiz DC
to Procure. Gold to Pay f'r :
Bullion,

WASHINGTON, Juno ga representative
OF the Associated press had n chat to-day
with Secretary Carlisle about tho silver at
nation. In the course of tho conversation
tho secretary said that from 1872 to 1873 a
reriod Of eighty years, the total
amount of silver dollars coined WAS s,oso''
SSs. In 1879 coinage Wal stopped by nj
act of congress-, but was resumed In 1910
uude. the Bland Allison act, under which,
up TO July IA, 1890, something over twelve
wears, there was coined $SIS, 166, 1913; also
from trade dollars S5.07S.47a, and from
seicniorage of bullion S6.6tl, 1e9. making
an aggregate Of $3.50 SS6. s74 in full leEa'
,ends. silver money issued BY the govern
msns since 1875. OF this amount only
SIS, Ole ol9 we're in actual circulation on
the first day OF the present month. the
remainder being held in the treasury az
part OF the assets OF the government repre-
sentsd by outstanding certificates. Under
the act OF july H. 1890. thsre '
been coined SO, Hos. 46l. which makes
total coiuase of silver dollars since 1919
aggregate S4l9. 1A, SA. or more than nifty
times as much as during the previous eighty
one years. In addition to this coinage, the
secretary has purchased under the u" CT
July IA, 1880, and now holds in the ~ >"
of the treaau;y uncoinsd, l24, 292, 53a hne
ounces Of silver bullion which cost the
people OF she United States $l1i, 29o,92o.
and Is worth to-day at the market price OF
silver SlO3, All. 3s6. thus showing a loss OF
SO. Sss. 534. BY the terms OF the aos the
secretary was required to pay for all silver
~ 49, rura 0S nAW Initial SFQEac
notes payable in coin. and that upon de-
mand OF the holder of such notes thsy be
redeemed in gold or silver, at tho discretion
of the seci etary. it being understood in the
Language Of the act that the established
policy OF the United States 10 to maintain
the two metals on q parity npon the present
legal rntio. or such as may be provided by
iav. In execution of this declared policy
of congress. ii 10 the duty Of tho secretary
when the necessity arises. to redeem the
obligation in such coin as may be de-
manded.
The records of the treasury department
show that during the thirteen months be-
ginning May l, 1892, and ending May 81,
1893. the treasury notes issued for the pur-
chase OF silver bullion under the act OF July
II, 1890, amounted to $40. 961, 1874, and dur
ing the same period the amount Of such
notes paid In gold vas SAT. 745, 173. 1t thu
appears that all silver bullion purchased
during that time. except 81. OIL worth
was paid for In gold, while the bullion
itself is In store IN the vaultH of tho treas
ury aud can neither be sold nor used TO
payment Of my kind of obligation. III !
evident" said the secretary. that il thi
policy is continued and we are compelled
to issue bonds or otherwise increase the in
terest- bearing public debt. it will be don
for the purpose of procuring gold wit
which to pay for silver bullion purchase
under the act referred to-" Tn net Rol
in this treasury has increased from $50
O0O, 900 to $9], 800, 900.