The evening times. [volume] (Washington, D.C.) 1895-1902, 1902-09-01
NO MORE MEXICAN
MONEY IN PHILIPPINES
Island Currency to Be Used
Within Short Time
Six New Coins to Be Issued and Sent
TO Archipelago, Half Mil
lion a Month.

Plans for the new Philippine currency
are about completed. and merely await
the approval OF Governor Taft At Ma
nfIa and Secretary Root at this end TO
be in effect. It has been determined
that new coins. of distinctly Philippine
type, shall be poured into Manila from /
the United States al the rate Of $25e,00o /
month, the stream to be kept Up until /
il has driven out a large part OF the /.
Mexican money. which now moDopoiizes /
the field
Governor Taft brought with him TO the
United States when he visited this coun-
try last spring several sets OF designs
for proposed Filipino coins They were
the work OF native artists. and were
pleasing TO the Washington authorities
Secretary Root signified his willingness
to approve designs for two Of the Drin-
cipaI coins, and these viii doubtless De
accepted By the Philippine Commission
/ also One is very ornamental hgurs
/ OF a Filipino woman. attired IN grace
! fully flowing robes. The other repre-
/ SCENTS a brawny native with a hammer
at a forge, IMPLYING the Filipino ham
mering out the destinies OF the Islands
/ The law requires that each coin sinai!
/ bear device and inscription 20 express
The sovereignty Of the United states. al
though in other respects they may .be
as strongly pro-Ph:lipplne as the de-
signers can make them.
Six coins are to be issued by the new
government. The subsidiary coins viii
be of the following denominations, hity
centavOs worth about as much as our
Il 25-cent piece. twenty centavos toT the
vaIHe Of our dime) and ten centavos
. equivalent 10 our scent piecei- ne
/ minor coins viii consist OF one-halt cen
tavo. one ceut2vO and five Centavos- Inc
War Department has sent csolegraI n
TO Governor Taft asking If S25g,0vV
worth Of currency 4 month VIII be SUI
6cTenr Ior the wants OF the islands and
also how long he will want this supply
continued The idea of the Washington
authorities is to satuTate the Islands
! with the new moFev so as 10 do away
with the use Of t3e Mexican dollar as
( much as possible. There are several
reasons for wishing to get rid Of the
q Mexican money. chief Of ven is It's
= constant ard varied 1UCtuatiOn IN value
= due 10 its alternating abundance anC
!. scarcity.
: At the present time the total eur
= rency Of the Philippines amounts 20 be
tween So. 000. GOO and so coo eco alEaOs
: all Of which is the output Of the Mex
g lean government Ultimately. q Gov
eminent mint VIII be eSIaDIISneu SOM
= place in the Philippines. but the new
lot OF currency will be manufactured a
one Of the minis IN the United states
probably a san Francisco
Ii has not yet been determined whsT
= the stock Of silver to furnish these coin
Z shall be purchased. but II VIII be boush
where il can be had the cheapest Dl
] rector Of the Mint Roberts was asked
. the purchase of quarter OF a Milo
. dollars worth OF silver each month %
II a yea or more would affect the DTice c
~ this commodity. He replied that h
Id thought II would not have any induenc
m on the price whatever The Unite
~ States exported S64. 000, 900 worth Of sil
as yer last year. and the purchase Of 81
~ 900 600 worth during the next year wOul
Is hardly be enough TO make itself felt !
4 the worlds markets. Had Congress M
changed the Philippine government bi
at the last moment by striking out Il
provision for a Philippine silver dolla
/" the legislation would have had a yer
Of aDpreciable effect on the silver maTke
ii It was al first claimed that the Rspubl
< cans proposed 10 pW the Philippines c
81 a silver basis for the purpose Of fur
J." nishing sop to the Republicans OF Il
Western silver States This progra
-. was changed at the eleventh hour, how
ever. and only the subsidiary and mine
silver coins were authorized.