Omaha daily bee. (Omaha [Neb.]) 187?-1922, 1896-10-17
PLAIN TAELS FROM CATHAY
Funny Stories of China's Trials with Silver
Money.
DUMPING GROUND FOR CLIPPED COIN
White Metal from All Over the World
UnIondcd There, nnd the Poor
Must Ultimately Pay
the Piper.


an opportunity for the study OF economic
conditions in China, India, Japan and Egypt,
Is spending several days in Washington.
He is known in the State department as one
of the ablest contributors during his con-
sular service to the reports relating to trade
and economic conditions which that depart
ment has for years been publishing for the
benefit OF commerce. DR.. Bedoe is an
earnest opponent of silver monometallsm.
lie declares that the free coinage of silver
by the United States means nothing else,
and he insists that the experience of the
civilized world, as well as conditions exist
ing in the Orient, offer every argument
against such a change in our monetary
standard. DR.. Bedloe said in an interview
with Major Carson, Washington correspond
ent of the Philadelphia Ledger.
Theoretical discussions are never as good
as practical demonstrations. China has
been silver country from time immemorlal
Its trade transactions are measured in taels
A 'tael' Is about equivalent OF one troy
ounce. Where we say that coin shall con-
tain so many grains of pure silver and the
remainder shall be alloy, the Chinese sys-
TEN is based upon just so many grains Of
the pure metal. What is the result OF this
system after centuries OF use? First, there
is no coinage. They have tried 1t, but the
rise and fall in the value of silver has made
the coins Of different value from time to
time. They. therefore. accept all coins and
make none Of their own.
MONEY BY WEIGHT.
"They also accept as currency slugs, in
gots, and bars of the white metal, and meas
ure them in what corresponds to ounces and
pennyweights. The value OF silver coins
depends partly upon their weight and partly
upon their fneness-that is, the amount of
pure silver contained in the coins The
standard coin of the countryside coin in
which accounts are kept-is the Spanish dol
lar. Strange as II may seem, the Spanish
dollar is as rare in that part OF the world
as a SO gold piece is in this country. Its
weight and fineness have caused 1t to be
bought up by jewellers and put into the
melting pot. Next to that Is the American
trade dollar, which is to be found in every
part of the Chinese empire. The COM
monest coin is the Mexican dollar, OF which
there must be several hundred million in
use in China. Besides these there are Pc
ruvian soils, sucres of Ecuador, pesos OF Co
lombia, boivianas of BOLIVIA, Japanese yens.
Canton dollars, Indian rupees. Central Amer
can pesos, English crowns, half crowns and
shillings, and French, German, Spanish, and
American subsidiary coinage. None OF
these coins pass for their face value. Every
coin is weighed, and, to prevent counter
feiting, is tested not with acid, but with
hammer and anvil. A good silver coin
stands this tough treatment, and becomes
bent into rounded or concal shape called
chop dollar Most counterfeits under this
treatment crack or even break to pieces.
The result Is that nearly all coins in the
east are chopped and disfgured Out of 100
silver dollars you get at the bank at least
ninety-ive are chopped, and range in APP
pearance from the shape of a watch crystal
to that Of sharp cone. In making de-
posits nearly everything becomes fractional.
You send to the bank what you think is 500.
and the banker, money changer, or merchant
finds 1t is worth 1913 and a fraction, or 500
and fraction. In similar fashion the un-
fortunate workingman Is always deprived
OF a small part of his wages. In that coun-
try he gets from. 81 to Sc per month, and is
paid in chop Mexican or chop trade dollars,
which are really from l to 10 per cent below
par.
VARIATIONS IN VALUE.
"On account of the variations in value OF
the white metal. although 1t is tho nominal
legal standard Of values, 1t is really meas
uIed in terms of little brass and copper
coins called cash One thousand of these
are supposed to make a normal dollar, but
they vary almost from day to day. When
silver goes up in price, say 10 per cent,
dollar is worth $1,100 cash. When it goes
down in value 1t is worth as low as 5000
cash. 1t is very much as IL our government
should coin or stamp these copper disks to
mills. These mills would be the
real monetary unit Oh our country, just dS
the cash is the real unit of 400 600, 900 of
human beings in China. On this basis our
silver dollar today, we will say, is worth 100
cents or 1000 mills Free coinage of silver
at the existing intrinsic value of the white
metal say SO cents to dollar, would change
it's value in mills from 900 to only $50.
ION one occasion our consulate at Annoy
had to oversee the payment OF $4,000 in a
litigation in that part of China The payers
gave notice fcrty-eight hours in advance
and the payees engaged special accountants
to receive the money. On the appointed
day and hour the money was delivered. 1t
was brought in bags like potatoes, each
bag weighing about fifty pounds and car
rled by two men. There were nineteen
bags of silver, thirty-eight carriers, five
The bags were deposited in the pay room,
or silver ROOM and the carriers then re-
tired. The secretary and guards then
opened one bag and poured its contents
into a great scale. 1t was weighed care
fully and the weight recorded by the sec
rotary and the receiving teller. The lat
ter's clerks then went over every piece OF
metal, throwing out those which were ques-
tonable or of a very low standard of quality.
This WIS done with the nineteen bags sue
cessively and took nearly two hours. At
the end of that time the account was found
correct, with the exception Of eight ounces
and three pennyweights of material which
had been rejected by the counters. There
was quarrel over this, which resulted
in the receiving teller accepting one-half.
The secretary then made good the other
half, securing receipt from the teller, and
went away. This closed the transaction,
which in our own land, or in any other
land upon a gold basis, would have been
done in few minutes with piece of paper
in the form of a check or draft, or in ten
minutes If 1t had been in gold coin, and
would not have required more than a man
and small boy to accompany him.
THE HIRED MAN CARTS THE CASH.
when you go out shopping in that coun-
try you must have with you twenty or
twenty-five pounds Of silver and five or six
pounds of copper cash These are usually
carried by your man servant, who, in many
instances, gives bonds before he Is intrusted
with anything of value by an employer. In
every large store the bulk of the silver rem
ders safe of no use and necessitates the
setting aside of a great silver room, with
scales and special clerks and guards.
Banks In the far east and great mercan-
tile houses have storerooms or silver rooms
frequently 20 by 30 feet in size, and a force
of clerks and guards OF from ten to thirty
TO take charge of the treasure. The wear
ana tear of silver is hardly noticeable in
our country. but out there in the far east,
where 1t Is the sole currency. 1t is a very
important item. The sulphur which Is CON
tanned in ordinary Illuminating gas, or even
from kerosense lamps. in wood burning and
coal. attacks the white metal and forms a
thin coating OF the black sulphnret. which
ruDS off or is knocked off nv tho shall. inc