The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1901-06-09
MEANS A MINT
FOR MANILA
Governments Plans for ORR
entail Money.
TO COIN 4 TOKEN
SILVER DOLLAR
Would Establish a Big Market
for Silver.

Denver. Colo, June S.-The Denver
Times today published an interview
with Mr.. George Z. Roberts, director
Of the mint, regarding the proposition
for the establishment Of a mint at
Manila
1T have heard nothing about the
matter since the adjournment Of con-
Sress." said Mr.. Roberts. 'bUt know
that il is receiving the attention OF
the war department, which is obtain
eng all the iufOrma ton possible on the
subject Army officers seem to faVo4
the establishment of q mint at Mania
and an effort To substitute American
coinage FOR the Mexican now in gen
eral use. There is considerable oppo-
SitiOn 10 this proposition, however, as
it is certain that to attempt to push
Che American dollar and redeem 1t in
gold would precipitate commercial
disturbances that might result in disas-
ter. Secretary Gage is opposed to it
and i am inclined TO think that this
plan viii not be adopted.
Two plans have been proposed. The
nrst OF these is to establish q free sniEt
at Manila for the making Of a Philip
pine dollar interchangeable with the
Mexican dollar and redeemable at
fixed price in sold. Under this plan
PRODUCERS of silver would sell their
product to establishments having
trade relations with the east, which
would have III 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
settlements and has so far been sue
cessful in competing with the Mexican
dollar and the rupee.
A Silver Token Coin.
THE second plan is to coin token
dollar about the size OF the Mexican
dollar with enough less silver to pre-
vent Il from going to the raelting pot
or out of the country 1nIercnangeaD
with the Mexican dollar and redeem
able in gold equally with Mexican coin.
Tti is the plan that at the present
a.-1le IS most in favor among those VINO
have made a special study Of the sit
uation.
secretary Gage fsvors the token
dollar. as do many others who have
given the subject attention, and some
of It's features are certainly attrac tive
But, whatever may be the plan
adopted, it Is certain that the estab-
1ishment Of a mint at Manila and the
coinage Of a dollar which viii not dis
turb the commercial relations OF the
country VIII have a most important
effect upon the market for American
silver. There is no doubt whatever
that the development of the Islands
will omen an enormous field for COM
rnerce. The currency of the east VIII
always be silver and the demand viii
constantly increase, and there seems
liltie IF any doubt that some plan WI!
.be devised whereby the American VIII
very largely replace the Mexican
coins.
Changing Market
Another important consideration in
the situation IS that eventually the
silver market viii be removed from
London to this country London has
the fixing of the price today because
England has control of the trade 20
the Orient and naturally supplies the
greater portion Of the circulating me-
dium. But the trade with this cOun-
cry IS Increasing with great rapidlty
and the time viii certainly come when
"a large proportion, If not the greater
portion of the silver shipments of the
world will be made from san Fran
cisco All indications point in this d.
rection.
ut is morally certain that q large
and increased proportion Of the trade
with the Orient will come to this coun-
try through our possession OF the phil
ippine islands, and when that time
comes fl is equally certain that the
United States viii at least divide tbs
honors with Great Britain In tne
event Of the adoption OF token sys-
TEN Of coinage the government would
necessarily be purchaser OF sllVel
bars and this fact would have me
effect of stin further increasing tht
demand for silver of our own proouc-
ton and of bringing the market e
this country. as there would be no nm
ftaticn "a the coinage
Mr. Roberts win be in the city unit
Monday and VIII then leave for Grip
Dle Greek and subsequently, visit some
of the most important mining camp
OF the state.
Washington. June 8--The total mum
Der OF immigrants arriving at MANI.
from July to November. 1900, was 6,So1
<,s whom 507 were females. OF the 90
tai number arriving $3.50 had been 2
the philippines before, 1882 could mel
Their write nor read and 1,5lt bIougn
$50 or more in money.