The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-09-21

Mr.. Posey s. Wilson Thinks Congress should
Meet In Extra Session to Discuss 1t.


To THE EDITOR OF THE SuN-Sir: In the
! imperishable STORY OF the BARRIERS Fifth
) Brother" the fellow who has been conducting
Z the fy-by might affair between Prince Camar-
| ALBANIAN and beautiful Badoura. Princess OF
! China, asks some other fellow: DO you hap
/ pen to have pair OF scales Ihave just come
| from Persia and have brought with me five
hundred pieces OF gold. and am anxious 70 see
| II they are OF the proper weight"
| Now. as the renowned Jack Bunsby would
say: The bearing OF this observation lies in
the application OF It," and Secretary Gage
being man. like the Psalmist. not high-mind-
| ed and having no proud looks. would doubtless
| listen to them were to say all this to him-as
| / did. in fact, a year ago-by the living voice.
! The money OF every nation measures against
| that OF every other nation by the weight OF the
pure metal in It. That fixes the value. or rather
proclaims the value to all nations.
3d. whom we acquired Louisiana, Florida.
Texas. California and Alaska. the foreign coins
| in use there were ratod at the nne metal in
them: and they were gathered up and recoined
here or exported. The foreign coins were
som etlmes slow In disappearing wholly but go
they did at last and such OF them as woro un =
derrated, whom referred to our money and our
system. went away right early. Porto Rico fell
to us at a time when silver was far lower in
price than when the above-pamed territory
came into our hands.
Spain had coined a special coin for her. equal
In weight and fneness to the money in use at
home. ret not legal tender there In any sum.
small or great. 1t was called peso, but was in
fact monopoly coin. as 10 the British Hong
Kong dollar. and the Dutch dollar or two and
half guilder inten de d for local use only.
monopoly DIN works very we'll until the
DAY OF reck oning comes. and the nation which
! has issued them announces that they are pill
Rrims and strangers on the earth. and that she
Then they fall to their bullion value. and hav-
ing no standing. eIcent In the colony for which
they either stay there or return again and
again. II they can be paid out. The people for
hsys Ss
what 1t means that they are out OF tune In the
se 81 Fes .6a6 d9 o
c esssy sn s1 9hy ia' lot tho '0F''s" OK
Her silver coinage has been less than million
countries OF the Latin Union, Of which she is
sv.4 .nse rss
and European use, she has coined sS,5oo0UU
peso, for Porto Rico in monopoly, style.
spanards are both careless and tricky. Ger
tainly Il was sore temptation to the Spanish
eBh-cent peso. and make the seigniorage for
themselves, if they could; or, L not for their
Our Peace Commissio ners we're very remiss
in that h'g ad nj 4; Tor
it should 90 back to her as 80 much Of the
twenty millions We we're to Pay her and have
poor Porto Rlcans So per cent shrinksse
which is bound to fall upon them. unless this
much OF the seienioraGe which 1t usually
$500. 900 pesos. and. indie cd. there is some me
ground for an argument in favor OF the latter
While the deprscation Of their monopoIy
coin may be said to be part OF the price which
the Porto Rica9s must pay for liberty and its
that their stuaton ia in no wise Of their own
MAKING We managed the whole matter and
ing medium worth four or five millions less
than 1t seems worth.
Secretary Gage has made an effort to save
wondering 1t received at 90 cents Creditable
"a Is his intention. he yet has no right to do
TINS. There ia no common law OF the United
Statos. as there is OF England and there has
never been word OF legislation in relation to
Porto Rico. save the treaty: so. In regard TO
There is only martha law
an extra session Of Congress. and clearing ont
the peso. II the Porto Rico peso is a foreign
sushoty perksT IN sks thu sse same at sx ns
cents But Whistler he is or not. Congress
ought TO protect him in bis praiseworthy
Efforts to bring order out OF chaos. when the
situation there is without precedent in our
history. and filled with difficulties
These difficulties are the result OF Congresses
adlournnR asst spring. bout. at least. putting
colonial business in train for an extra session,
understand that the same situation exists in
the Philippines. where n $50 grain monopoly
dollar clreulates. and must eventually share
the fate OF the 347 grain peso OF Porto Rico
II we should undertake to retire Porto Rico
pesos at par. we would have to do il Quickly-at
one deal" or new issues might be rmne in
- PoSEY s. WILSON.