The Newberry herald and news. (Newberry, S.C.) 1884-1903, 1894-09-19
COMING SILVER.
Mr.. Carlisle Has the Mints Running on the
Sesgnorage-NesrlyT Three Quarters OF q
Million Coined Last Month. The
Existing Law.
ISpecial to Atlanta Constitution. ]

Especial to Atlanta constitutional
WASHINGTON, September 10.-Sec-
retary Carlisle's heart seems to be
warming again toward bis old love-
silver. Mr.. Carlisle is now domonstrat-
ing that he ia decidedly more favorable
to silver than he was few months
ago. was at the treasury department
to-day and learned officially that be is
now rapidly coming the silver bullion
purchased under the Sherman law.
The seigpiorage he is covering into
the treasury. But here Is full state
ment, which explains what the secre-
tary of the treasury is doing. 1t is
from a high official of the treasury de-
partment and may be considered
official: .
1.-The mints at New Orleans, Phila-
delphia and San Francisco are engaged
in coming standard silver dollars from
the bullion purchased under the act OF
July Il, 1890, commonly known as the
Sherman law. During the month of
July $430,O00 was coined and during
the mouth of August SIPS, 900. About
the same amount will be coined during
the present month, September, and
thereafter such amount will be coined
as the secretary may consider advisable
under eli the circumstances. The third
SECTION of the act of July "A, 1890, pro-
vided that the secretary of the treasury
should coin each month into standard
silver dollars 100000 ounces of the
silver bullion purchased under the pro-
| visions of that act until July !, 1891
and thereafter he should coin of the
silver bullion purchased under the
| provisions Of the act as much as might
be necessary to provide for the redemp'
| ton of the treasury notes issued IN
payment of the bullion, and that any
gain or seigniorage arising from such
coinage should be accounted for and
| paid into the treasury. The coinage
now going on is done under the
authority conferred by this. section o.
the law and the seigniorage derived
from it is paid into the public treasury
as required by law and used for the
ordinary purposes of the government;
| but the remainder of the coins are held
in the taeasury in order to provide fol
the redemption of the treasury notes
issued in payment for the bullion
During the last eleven months $3.50,
727 standard silver dollars coined frou
the bullion purchased under the act o.
July IA, 1890, have been paid out in tht
redemption of treasury notes and tht
notes so redeemed have been retired
and conceled. This process is still
going on daily. Prior Of Mr.. Carlisle's
connection with the department nt
silver had been paid out for redemption
Of such notes and none of such note!
had heen retired and Cancelled"
The above would indicate that Mr.
Carsile is more favorable to the white
metal than the general acts of tn!
administration would Indicate. Though
Mr.. Cleveland vetoed the bill to coir
the seigniorage it will be observed from
the above that Mr.. Carlisle holds be ha
the authority to coin it and turn IT int
the treasury, and he is doing it. have
1t officially that he will go right aheac
coming silver bullion until every ouncs
purchased under the Sherman law ha:
been coined. All over and above al
amount sufficient to redeem outstand
ing coin certificates, dollar for dollar
will be covered into the assets of th'
treasury and used for the regular ex
penses Of the government. In othe.
words, the seignorage will be the gov
ernment's gain, and was contemplated
in the seigniorage bill which congress
passed and Mr.. Cleveland vetoed.