The National tribune. [volume] (Washington, D.C.) 1877-1917, 1895-05-30

when il was reported back to the House
without amendment. 1t was then debated
for two days, under the five minute rule.
The main objection made 10 the bill was
that it created new Offices with large sala-
ries 1t was finally recommitted to the COM
mittee, which reported it back to the House
Feb. Is with some changes. Among these
was clause providing for silver dollar OF
3Sf grains, to be used as subsidiary"
coin, and not to be legal tender for more
than 50. The bill was taken up April Q, and
debated at length by Messrs Clarkson n. Pot
ter, of New York; VIM. ID. Kelley, of Pennsyl-
vania; Thompson W. McNeely, OF Illinois;
Fernando Wood, of New York Aaron A. Sar
gent, of California; james Brooks, of New
York; William L. St1ughton, OF Michigan;
James Il. Beck, of Kentucky, and Samuel j.
Randall, of Pennsylvania. Nessrs Hooper,
Stoughton, Potter, Kelley, and McNeely ex-
planned very fully to the House the reasons
for dropping the silver dollar as a unit Of
value, and the necessity of having only one
standard, and that standard the one in use
by the civilized world. No one opposed
their statements. Mr.. Kelley said that
certain bullion dealers in New York were
making from $50 900 10 S15O, 900 u year out
Of our continuing to coin the silver dollar
of 412.5 grains.
May 81, 1872, tie bill was again taken up.
discussed, and finally passed by vote of
ITO to IL. 1t was sent to the Senate, read
twice and ordered TO be printed, referred TO
the Committee on Finance, where il remained
till the next session.
Dec. is, 1872, Senator Sherman, from the
Committee on Finance, reported the bill
back, saying that il was substantially the
same as that passed by the Senate two years
before. The bill, with its amendment, was
ordered printed.
Jan. z, 1873, Senator Sherman reported
back the bill with amendments substituting
n trade dollar of 420 grains for the " subsid-
larry dollar" of 3S4 grains in the House bill
Jan. II, 1873, the Senate. as In Committee
of the Whole, considered the bill by sec
tons There was n long debate upon the
sizes, denominations and metals Of coins
under dime, upon the designs and inscrip-
tons, etc. Senator Eugene CasserIy was
especially anxious to retain the eagle upon
the halves and quarters. The substitution
of the trade dollar for the subsidiary dol
lar" was explained "a an EFFORT TO work our
coinage into japan and China in place Of
the Mexican dollar.
The ball was finally passed without divis-
ion. The House non-concurred in the Senate's
amendments, and Committee of Confer
ence was appointed, consisting Of Senators
John Sherman and John Scott (Republicans),
and Themas y. Bayard (Democratl; and
Representatives Hooper and ". l.. Slough
ton (Republicans) and T. W. MeNeely
(Democratl, which reported back the fol-
lowing clause, which was passed by both
Houses without division:
Sec. ID. That the silver coins of the
United States shall be trade dollar; half
dollar or 50-cent piece; quarter-dollar or
25-ceut piece n dime or 10-cent piece; and
the weight Of the trade dollar shall be 420
grains Troy; tie weight of the half-dollar
shall be IL grams and One-half OF a gram
the quarter-dollar and the dime shall be,
respectively, one-half and one-ifth of the
weight of said hslfdollar; and said coins
shall be a legal tender at their nominal
value for any amount not exceeding So in
any one payment"
The bill was approved Feb IL, 1873. This
shows how little secrecy and triekery"
there was about the passage of the bill 1t |
was under consideration for over three years, I
and by two Congresses. 1t was generally |
discussed in the newspapers and Congress |
ional publications concerning it, occupying |
over 15S pages. Everybody interested in |
financial matters discussed it, and nowhere /
was there raised dissenting voice. One |
feature of the bill attracted the widest at l
tention: 1t was the substitution of the trade /
dollar for the old-fashioned dollar. We ex-
pected big things from this, In the way of /
trade with Japan and China, but /
the expectation was not realized.-EDITOR
NATIONAL TRIBUNE.