New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1902-06-02
PROPOSED FILIPINO COINS.
PEssIMIsTIC VIEW OF A CORRESPONDENT
ON THE EFFECT OF PENDING BILL.

To the Editor of The Tribune.
Sir Counterfeitng is d serious charge to make
against any nation. particularly against ones own.
On Tuesday next June 81 the Senate will doubtless
vote for the issue of coins Of the United
States, to wit another silver dollar another fifty
cent piece, a twenty cent piece. another ten cent
piece another nickel five cent piece, another bronze
and half cent. But the United States Gov
eminent will nowhere receive the dollar for
dollar the fifty cent piece for half dollar, nor
the twenty cent piece for one-ifth OF dollar. nor
the ten piece for dime, the five cent piece
for half dime nor the cent for a cent nor the
half cent for half cent. The metal in these queer
coins will be the in the present pieces Of
similar denominations In none will the weight be
less: in the dollar and cent it will he more. The
new coins will be practically identical with the old
However. the United States Government will not
receive them in payment outside of the Philippines
they will really be frauds in America counterfeits
of United States con and none the less so because
the government will be the counterfeiter
AS soon as the United States Government shall GO
business Of CONTRIBUTING private counter
letters will change their methods. They viii no
longer expose themselves to severe penalties of fine
and Imprisonment by secretly counterfeiting United
States coin, but with perfect safety procure these
counterfets which the government Will make and
put them into our circulation. The new pieces being
coined for use the Philippines where the govern
ment will receive the dollar for the value of
the silver in it NOW 40 cents), and the other COINS
In proportion these reformed counterfeters and
Others will be able TO procure there through brokers
at the rate of 40 cents the dollar
In my letter published in The Tribune on April a.
1902 attention was called to the new trade dollar
proposed by the Senate Committee on the Phihp-
mines The currency of the other trade dollar coined
under the act of 1873 and its final redemption under
the act of 1887 show that such piece will enter
into our circulation large extent and that after
neonle have suffered from its intrusion for a num-
her of years Congress will grant relief by authoriz
ing and directing its redemption. This will surely
he the outcome the coinage Of the new pieces ana
their introduction into our domestic circulation.
ducing the new dollar for people, remembering the
ANNOYANCE and loss which the other trade dollar
accustomed may be somewhat their guard. There
are on the other hand, three of the new pieces
which will enter into circulation II creased.
rrhev are the fifty cent piece and ten cent piece;
which will contain silver OF the weight ana
lent niece containing the same weight of nickel as
oIr current nickel. Who is going to stop and OK
ua,na Every ,talf dollar dime and nickel rendered
90 see If in be marked Filipino? These the
,iaeas tbat will be necessarily pushed upon with
~ ereateat Industry. Brokers will get the fifty
the int niace in the Philippines for 20 cents the
e,1t iiece Cor four cents, the nickel for cents
-. Ut tbero into circulation here a profit of
20 her cent Every 81 ,ot0eo introduced will mean
~ 90 SEQ CoO 10 private parties and profit
70 the government, but only shame disgrace and
c,rses For IFS stupidity in issuing such counter
ssits ., 81 own coin There will also be vexatous
nnno,a,ns from palmng off the twenty piece
90 ousrter and the half cent for cent. The
800 tTirds larger than our current cent thus
sndicatine a substantial difference in weight, will