Capital journal. (Salem, Or.) 1893-1895, 1894-12-03
AN UNFORTUNATE COIN.
The sorrowf'd History OF the Souvenir
Half Dollars.

The HoFrOWhtl iiihtofy oh Nue SouftAo1
Half Dollars.
The order Of Secretary Carlisle Il
use the Columbian souvenir silver coini
as cash is the closing chapter in the his.
tory Of an unsuccessful venture. In spite
Of the efforts OF the promoters of the
exposition TO sell these half dollars al
double theiI face value, with the gen.
eral cooperation of the banks, the news.
papers and number of leading stores
In Chicago, New York, Boston, Phila.
delphia and elsewhere, about 1000, 00C
remain unsold and in the hands of the
treasury authorities
At first the Chicago people pleaded
with Secretary Carlisle to hold the coins
ill they could raise a fund to redeem
them at their double price in the hope
Of saving the value of those already
sold, which would be bound to decline
as soon as the remaining coins were
thrown into the ordinary channels of
trade. This was done, but the attempt
was fruitless, and few days ago the
projectors Of tho scheme notified the
secretary that they could not do any
thing, and that they would not ask him
any longer to carry the load of unavail.
able silver
Mr. Carlisle shrewdly decided to do
something which would make the coins
pay for part of the trouble and delay
they had caused So he ordered them
paid out at par, but in exchange for
gold coin. This would have the effect,
he believed, of stimulating few enter
prising retail shopkeepers to buy up the
lot and advertise that they would use
them in making change for their custom
ers. The treasury would by this means
add little gold to its balance, while at
the same time the coins would probably
be held as souvenirs by the customers
attracted by the advertisements, and
thus would be prevented from passing
into general circulation.
The collapse of the souvenir coin fad
recalls the fact that a syndicate was
formed during the summer Of 1898 for
the taking and disposing Of 100, 900 of
the half dollars. Some large jewelry
houses were interested in the enterprise,
which might have grown to larger pro-
portions II any encouragement had been
received
IL seems that a leading American
ieweler, while on a journey abroad saw
some Of the British souvenir coins struck
In honor of Queen Victoria's Jubilee
beautifully decorated with enamel and
mounted as watch charms, brooches,
etc. He took a number of Columbian
half dollars to London with him last
year and had them treated In the same
way.
Ono device was 10 cover all tho body
u tho obycrso Of the coin with trans.
lucent enamel, leaving tho head of Co.
lumbus and the inscription uncovered.
In another the reverse side was treated,
the carayol being colored on the field
igairt which II was projected. No two
Designs were alike, and the coins were
agcrly snapped up at 90, Ss and even
90 gpieco by curiosity seekers
But no sooner WAS the formal promo,
iilion made 70 take the 100, 900 coins
out Of the custody 0f the treasury for
the purpose mentioned than the soOret
service people pounoed upon the inter
esied parties mud warned them that ey.
CRY coin thus treated and opposed for
sale would ba Goizod.
No law against the mutilatlon Of
coins appeared 10 stand IN tho way, but
the argument of Chief Dpmmond, as
well 40 it could be understood WDs that
some Owl minded pers0n mipht sernna
of the enamel from the decorated coins
Ahd pass them upon unsu8poC,ing poor
persons, who would thon find themselves
With . coin IN their p0sseision bearing
ln ~ faoo tho Yalno OF 90 oonts, but on
account ~ iis mpiilati0n commanding
~ tho market only iia bullion value.
which Win silver ai ila present depro-
llailon, would ho only o quarter " a
lollar Tho opposition ~ Chief Drum,
mona, supported Ny Secretary Carlisle.
broke W tho plan, ~ Washington star