The Honolulu republican. [volume] (Honolulu, T.H.) 1900-1902, 1901-06-18
The PHILIPPINES AID
AMERICAN SILVER
MINT DIRECTOR ROBERTS TALKS
or TIE ORIENT AND IT'S
MARKETS
Thinks That ar American Silver Trade
Dollar Can Largely oisplare the
Mexican Coin = Believes United
States win Sc Controlling Factor.

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DENVER. June s-The Denver
Times today published an Interview
with George E. Roberts. director OF
the mint, regarding the proposition
for the establishment Of a mint az
Manila
Il have heard nothing about the
Congress. said Mr. Roberts. but
know that il is receiving the attention
OF the War Department. which is OBJ
tanning all the information possible on
the subject. Army officers seem to IA
vor the establishment OF mint az
Manila and the substitution OF Amer
lean coinage for the Mexican, now in
general use. There is considerable OPP
position 10 this course, however. as 1t
is certain that TO attempt 10 push the
American dollar and redeem il in gold
would precipitate commercial disturb
anees that might result in disaster.
Secretary Gage is opposed TO il and |
am inclined TO think that this plan
will not be adopted.
Two plans have been proposed. The
first of these is TO establish a free
mint at Manila for the making OF a
Philippine dollar interchangeable with
the Mexican dollar and redeemable at
fixed price in gold. Under this plan
producers of silver would sell their
products to establishments having
trade relations with the East. which
would have il coined at the Manila
Mint and put in circulation This is
the plan adopted by the British gov
eminent, which coins an Indian dollar
which is circulated from the Straits
cessful in competing with the Mexican
dollar and the rupee.
The second plan is 10. coin token
dollar about the size of the Mexican
dollar, with enough less silver to pre-
vent it going to the melting pot or out
of the country, interchangeable with
the Mexican dollar and redeemable in
gold equally with Mexican coin This
is the plan that at the present time is
most in favor among those who have
made a special study of the situation.
Secretary Gage fayors the token
dollar. so do many others who have
given the subject attention. and some
of its features are certainly attractive
But whatever may be the plan adopted.
it is certain that the establishment of
a mint at Manila and the coinage of a
dollar which viii not disturb the com
mercial relations of the country will
have a most important effect upon the
market for American silver There is
no doubt whatever that the develop
ment of the Islands will open an enor-
nous field for commerce. The curren-
cy of the East viii always be silver.
and the demand will constantly in
crease. and there seems little Ii any
doubt that some plan will be devised
whereby the American dollar will very
largely replace the Mexican coins.
Another important consideration in
the situation is that eventually the
silver market will be removed from
London to this country. London has
the fixing of the price today because
England has control of the trade to the
Orient, and naturally supplies the
greater portion of the circulating me-
dunn. But the Oriental trade with this
country is rapidly increasing. and the
time will certainly come when large
proportion, il not the greater portion,
of the silver shipments of the world
will be made from San Francisco AL
indications point in this direction. II
is morally certain that a large and in
creasing proportion of the trade with
the Orient viii come. to this country
through our possession Of the Philip
pine Islands. and when that time
comes 1t is equally certain that we viii
| at least divide the honors with Great
Britain. In the event Of the adoption
of a token system of coinage the gov
eminent would necessarily become 9
purchaser of silver bars. and this fac
would have the effect of still furthel
increasing the demand for silver o.
| our own production, and Of bringtnl
! the market to this country. as therf
would be no limitation to the coinage
Z Mr. Roberts will be in the city un
til Monday and will then leave fol
Cripple Creek and subsequently visi
the most important mining camps o
the State.