The Indianapolis journal., 1902-02-06
REASONS FOR 4 NEW COIN.
What Led Mr.. Green to Propose a
Two-and-a-HaIf-Ce Piece.

New York Tribune.
Washington dispatches yesterday re-
ported that Congressman Amos j. Cum
mings. of this city, had introduced bill for
the coinage of a 215-cent piece, at the re-
quest of Andrew H Green, the author of
the bill When Mr.. Green was seen at his
Office. at No. 214 Broadway. yesterday, he
spoke freely of the reasons leading him to
propose such a measure.
'The indelibility of ancient customs"
said he, us remarkably exemplifed in the
tenacity with which the American people,
in spite of their decimal system of cur
rency, continue to reckon values in the
shillings of their ancestors. 1t is still very
prevalent custom, notably in the Eastern
States, but extending also into the Middle
West, to mark prices of goods in shillings
as, for example, 2-for two shillings, or
26 for two and sixpence, and the custom of
fixing prices at the shillingS equivalent in
our own money, as, for instance, 3712 cents,
is almost universal. In such cases, where
fraction the buyer is invariably obliged
to pay the extra half cent. This, in the ag-
gregate is no small burden upon the man
ual classes. This injustice was obviated for
many years by the coinage of copper half
cent pieces, which was suspended in 1857
In lieu of half-cent pieces to-day the pro-
pIIelOlS Oh some large stores III chicago,
am told, issue half-cent tokens. redeemable
in purchases at their counters.
while this old, hereditary reason for a
fractional cent coin has lost none of its
potency with the lapse of years, new and
more powerful reason, or group of reasons,
has been produced by modern economic
conditions. The progress of science and in
Venuon, resulting in cheapened production,
together with our marvellous growth of
population, massing itself in urban COM
munlCles. has revolutionizeG prices and
tod 1arra nx,1 r. 1fo,~w ,1s,.
tween the 1-cent and scent piece. Some of
the reasons leading me to believe that 212
cents Cor quarter OF a dime) is the pro-
per denomination for such intermediate
coin are as follows: Nobody ever makes a
single purchase of half a cent. Half-cent
pieces, therefore, are not needed for such
purchases. The half-cent, whenever re-
qulred by the old shilling system of prices,
is always part of sum of which 212 cents
and some other convenient amounts are the
components. The 21z-cent piece, therefore.
would meet all the requirements OF the
obsolete half-cent piece due to this reason.
Another fact pointing to the 212-cent piece
as the most desirable denomination between
l and cents is the marked and growing
tendency toward reduced street-car fares
a tendency which, L believe, the existence
of 212-cent piece would materially en-
courage. The almost universal street-car
fare in American cities is cents. But
economic forces are steadily moving to-
ward the halving of that amount for adults,
as 1t is now quite generally halved for
men going TO and returning from their
work would be a great boon to them.
American street railways, with their 5-cent
fares and large profits, cannot long remain
behind the railways of England and Scot
land. with their penny and halfpenny fares.
In New York city some progress has al
ready been made in this direction. Two
railroad fares across Brooklyn bridge are
sold for cents but the single fare, for
want of 212-cent piece is three cents.
When II is considered that fifty million
passengers per annum pass over this via
duct, TO say nothing of the immense traffic
over some OF the ferries, which require g.
cent fares during part of the day, one can
appreciate the great convenience of a PIP
cent piece in this city alone. In addition TO
the bridge and ferry fares. transfers from
the elevated TO the surface roads are
charged at cents, as the nearest amount
to a half fare.
The 215-cent piece would combine in a
single coin all the convenience once af-
forded by the old copper half-cent pieces
discontinued in 1850, the bronze 2-cent
piece discontinued in 1879 and the nickel
scent piece discontinued in 1890, and. as
we have our dollars. half dollars and quar-
ter dollars. the addition TO our dimes and
half dimes OF a quarter dime or 2l5-cent
piece, would seem TO be a logical and nat
ural subdivision of our decimal system.