The Cape Girardeau Democrat. (Cape Girardeau, Mo.) 1876-1909, 1895-12-21
THE DAY OF THE PENNY.
Importance of the Little Coin to the
Economics of the People.

States is enjoying an increased popu-
lar demand. 1t is significant fact
that the coinage of this piece has of
very recent years taken up more of
the time of the Philadelphia mint than
ever before. Three presses are now
At work thers on copper coinage. turn
ing out 10000 cents day. This
rate has before been equaled or ex-
ceeded, but it is worthy of remark
now in view Of the previous great out
put of the copper coins within the past
dozen years. Since the foundation
of the mint in 1893 1,066, ,677.50S lc
pieces have been struck. and it is es-
timated that some 10000, 900 pieces
are now outstanding.
But the great bulk of this coinage
has taken place lately. From 1913 to
the beginning of the civil war the coin
age of the cent piece did not average
much above 3d., 200 worth 4 year. or
$500. 900 pieces. Just prior &c and
during the war the coinage became
unusually large. but fell off during
tn" time of inflated prices to a marked
extent. But in 1880 the penny coin
age rose suddenly to an unusually
high figure. and has kept there ever
since. Within the past fifteen years
almost onc-half of the entire penny
coinage of the whole country has been
executed OF the amount outstanding
of 80, 900. 600 pieces. no less than 504,-
100. 900 pieces have been struck in the
fifteen years. And the public demand
for the coin appears to be una baird
and rather on the increase.
The explanation of this is doubt
practice Of cash payments in the re-
tail trade. and the great fall in prices
which has come about in the past
twenty years. Not long ago the small
est coin known in the general circuia-
tion west of the Mississippi River was
the nickel II piece. Only within a few
days the larger st. Louis papers were
charging IL a copy for their issues.
when Sc. 2c and even lc were the pre-
vailing rates father east. Now pa
pcrs costing only the fraction Of Il
nickel are the rule rather than the cX
ccption in the West The growth of
the country and the competition in
business wOuld of themselves finally
bring the cent into active use there: !
but the downward course of prices has
operated all over the country to make |
ii much more active coin than ever
before. odd prices are now frequent |
even where purchases are for round |
amounts or considerable sums Penny |
bargain counters in some of the big !
stores have lately been in
treduced. y Be- street car fare Is not |
unknown: and no doubt is To heceme |
better known.
In fact. so closely is the trade of
the country calculating its prices that
a demand may not be far of for the !
Of the half-cent piece. |
Fractional par; of Il cent are now /
very common il, even retail quotations. /
England finds sc for such 4 coin in |
the bronze fartIing, France in the sou, |
which is, howe .er, more nearly the |
value of Il cent than a half-cent. Our |
own coinage laws have authorized the |
coinage of a half-cent piece. and from
1893 to 1911 large number of these |
piecies were struct. At two other pc .
riods before the war there was some !
coinage of this coin: but i'll 1861 it was
and has not been since |
revived. The e piece was dropped |
in 1873, and the 3c piece in 1890.
The growing Importance of the pen
ny or more properly. the cent, has an
bearing on the economy of
the people. 1t gives to the nickel. the
dime. and all pieces of money Il high
er value in the eye OF the pOssessOr
than they had before, and teaches
care in all expenditure. No one now !
needs to feel ashamed To wait at the I
store for the change to be brought
back amounting to only Ic. That |
penny has come to possess an import /
ant purchasing power, greater than it
has ever had before. And it is in the |
way of being advanced to second |
place above the lowest in the divisions |
of the monetary circulation.-Sprin /
fold Mass ! Ranublican