Barton County democrat. [volume] (Great Bend, Kan.) 1885-1915, 1899-09-29
TREASURY STOCK DRAINED
Because of the Demand for Small
Coin Abraded Dimes, Nickels
and Pennies Are Sent Out.
CONGRESS ALONE CAN FURNISH RELIEF
Silver Dollars, of Which There Are Now L.
100000 Coined Every Month, Are
Drug the Market, WhiI- Fractional
Currency Is Being Eagerly Sousht-De-
mand for More Railroads In Cuba

Washington, Sept. 26.-Never in the
history of the country has there been
SO much small coin in circulation.
There is now in circulation about $751;
600, 600 worth of half-dollars, quarters
and dimes. There has been much COM
plant recently of the circulation of
old, worn coin, and nearly everyone
W no receives small change nowadays is
compelled to examine it in order to es-
cape receiving that which will not pass
current The reason for this circula
ton of abraded coin is the draining of
the treasury stock. Much of this old
currency was presented for redemption
in gold under the resumption act of
1879 and has been held in the treasury
ever since. Under the stress of the
tremendous demand for small coin this
has been going out and is again doing
duty.
The treasury, of course, redeems all
of this worn coin and great deal of it
has been recoined, but the minis are
not able to keep up with the demand.
The demand in the retail trade for
nickles and pennies has also brought
out old coin of that description. Cents
of the mintage of 1862, and even before
that date, have been met with in con-
sidera BILE quantities lately. They are
thicker than the penny pieces now
min ted and of lighter color.
At the treasury department it is re-
garded as rather strange that congress,
without any question, should have au-
thOrized the coinage of 1, 500, 900 silver
dollars every month, as it did in the
war revenue act, and make no provision
for increasing the stock of fractional
silver coin. The silver dollars are a
drug on the market, as, of the 400, 000,-
600 standard silver dollars, there are
only SCI. ZOO. 600 of the actual coin in
circulation, the balance being repre-
sented by the paper certificates issued
against the coin dollars.
Director of the Mint Roberts believes
that authority should be given to in
crease the stock of fractional coin to at
least S125, 900, 900. If the demand for
this small change continues for the
next six weeks as it has in the past six,
the supply will be exhausted, and the
government will be unable to give re-
lief to the retail traders of the country.
Congress will be appealed to next ses-
sion to remedy this condition.
Cubans Want More Railroads.
Washington, Sept. 26. - Railroad
building is becoming an acute issue in
CuOa. Inc war department. anu the
administration are subject to much
pressure to begin a policy which will
permit the construction of new lines
A large amount of capital is represent
ed to be awaiting the opportunity to
engage in enterprises of this kind.
Most of the American military COM
manders have recommended that some
steps be taken to encourage these
projects because of the industrial ben
eft which will result and the work
which will be opened to the laborers
! on the island.
The war department believes that
advantages would result from railway
building, both in giving employment
to labor and in developing the resources
of Cuba. However, in spite of the pres
sure which has become stronger every
day, there is little probability that the
| policy heretofore followed will be
changed. This policy is against grant
ing new franchises or concessions dur
ing military occupancy and most of the
| old franchises, alleged to have been
granted under Spanish authority, are
SO clouded that no official sanction can
be given to them.