The Ketchum keystone. [volume] (Ketchum, Idaho) 1885-1899, 1896-01-18
THE PENNY Is POPULAR.


popular Oem8QQ. IL Is q 6lgnlnC80C
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 there on copper coinage, turning
out 10000 cents day. This rate has
before been equaled or exceeded, but
it is worthy of remark now in view Of
the eprevious great output of the copper
coins within the past dozen years.
Since the foundation of the mint in 1893
1,066, ,677,50s one-cent pieces have been
struck, and it is estimated that some
780, ,00O, 900 pieces are now outstanding.
But the great bulk of this coinage
has taken place lately. From 1898 to
the beginning of the civil war the coin
age of the cent piece did not average
much above $25,0O0 worth a year, or
$500, 900 pieces. just prior to and dur
ing the war the coinage became un-
usually large, but fell off during the
time of inflated prices to marked ex-
tent. But in 1880 the penny coinage
rose suddenly to an unusually high
figure, and has kept there ever since.
Within the past Is years almost one
half of the entire penny coinage Of the
whole country has been executed. OF
the amount outstanding of 780,00O,000
pieces, no less than 504, ,7o0, 900 pieces
have been struck in the Is years. And
the public demand for the coin appears
to be unabated and rather on the in
crease.
The explanation of this is doubtless
to be found in the more general prac-
tice of cash payments in the retail
trade and the great fall in prices which
has come about in the past 20 years.
Not long ago the smallest coin known
in the general circulation west OF the
Mississippi river was the nickel Scent
piece. Only within few days the
larger St. Louis papers were charging
cents copy for their issues, when 3
cents, cents and even cent were the
prevailing rates farther east. Now pa
pers costing only the fraction OF a
nickel are the rule rather than the ex-
ception in the west. The growth OF
the country and the competition in
business would of themselves finally
bring the cent into active use theree
but the downward course of prices has
operated all over the country to make
it a 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 de-
partment stores have lately been intro
duced. A Scent street car fare is not
unknown; and no doubt is to become
better known.
In fact, so closely is the trade of the
country calculating its prices that de-
mand may not be far off for the rein
PRODUCTION of the half-cent piece. Frac-
tional parts of a cent are now very
. common in even retail quotations.
England finds use for such a coin in
the bronze farthing, France in the son.
which is, however, more nearly the
value of a cent than half-cent. Our
own coinage laws have authorized the
coinage of half-cent piece, and from
1893 to 1911 large number Of these
pieces were struck. At two other Pc
riods before the war there was some
coinage of this coin; but in 1857 it was
discontinued, and has not been since
revived. The 2-cent piece was dropped
in 1873, and the Scent piece in 1890.
The growing Importance of the
penny or, more properly, the cent, has
an important bearing on the economy
of the people. It gives to the nickel,
the dime, and all pieces OF money o
higher value in the eye of the possessor
than they had before, and teaches care
in all expenditures. No one now needs
to feel ashamed to wait at the store
for the change to be brought back
amounting to only cent. That penny
has come to possess an important pur-
chasing power, greater than it has ever
had before. And it is in the way OF be-
ing advanced to second place above the
lowest in the divisions of the monetary
circulation.-Springfeld (Biass.) Re-
publican.
DINING IN ENGLISH STYLE.
Every Man Pays Hts Own Score When In
vited to the Club.
"Americans are supersensitive," re-
marked an Englishman lately. "and
they lose thereby much rational enjoy
ment and pleasant intercourse. For
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