The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1901-04-16
MONEY LIKE eDoUeHNurs.
Government TO Put Out Three-cent
Piece With Hole in It
lChicapo Chronicla ,

t~nlcaSo Chronicle.)
Z chicago sub-treasury officials have no
oinclal informal concerning the new
.S-eent piece which it's said the govern
ment viii soon coin for use in the west
Inc new coin is to be of nickel. and its
laaicaI dtfference from all Others coins
with Uncle Sans mint mark on flSs,,,
lies in the fact that it will have-a hoIe
IN the center. 1t is the superstition that
TINS mole in the middle will enable the
eurr1ed handler of the coin to detect ifs
Value by. the sense eef feeling. some
sucn safeguard Is considered necessary
LOT the reason that it is to be aboIIt the
size and weight of the present nickel X
cent piece The size Oft the center hole
IN the proposed coin Will he 1arge
enough to make IL merely a ring Of
metal, this hole being about one-half
the. diameter of the coin. IT win ne
vent onF of the difficulties which barid-
iers OF small silver coins were troIibIed
with when the metal money began TO
circulate after the era of paper money.
ne small coins which got into the
nahdS or children and some classes in
the remote districts were treated as
euriosities and great prizes To secure
their safekeeping a faYOrite method
was TO punch a hole in them and tie
them on string. This DESTROYED the
circulation value of the coins. and deal
ers who subsequently took them in had
70 stand the loss. fixed scale being
finally arranged for deduction for
punched dimes, nicl1els or other pieces.
Inc new piece can be strung without
in5uring it,
It is, the general opinion of govern
ment. officials that there is no crsIng
need for an additional subsidiary coin
of small, value and large bunk and
weight, the scent nickel piece and the
copper 1-cent piece being considered
ample TO meet the wants of the people
OF the west. Bank people and treasury
officials have a very lively conception
OF the bother there is in handling the
present 1-cent piece. the larger insti-
tHIOnS getting hundreds of pounds of
them sometimes on hand. The weight
as Well as bulk cuts quite a figure in
these cases. and the addition of another
intermediate between the scent piece
and the, csat piece would il is believed
but add to this trouble. Vault room for
storage purposes and draying facilities
would have. TO be provided in proper.
tion
The old Scent silver piece which was
coined several years ago did not meet
With popular favor. and It was found
impossible to keep it in circulation The
sub-treasury people fear that the at.
tempt TO put out a new one win be but
a repetition of this experiences.
In the west and southwest the 1-cenf
piece was slower in coming into favor
than the east and The coinage ofethe.
new piece is supposed to be to- meet a
demand which the 5-cent piece is too
large for and the 1-cent too small Thts
would Indicate If Il, is. correct. that the
western people are reiinquishing their
old idea that nothing less than 5 cents
was worth counting in business
transaction.
The scent nickel piece has been in
use for nearly fifty years. having been
first coined during the latter part of
the ciTh war or just after that Be-
fore chat time for many years the only