Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1902-04-03
Senator Allison Has a Plan for
Coming Money for Phil
ippines.
Would Establish a Mint at Ma
Mia to Coin Silver
Dollars.
The Measure Likely 10 Be Re.
ceived With Favor in the
Silver States.
Special to Times-Republican.

Washington, ~. e., April 5.-lne OIL
lust reported from the subcommittee
on coinage, of the Philippine COM
mittee of the senate, relative to the
coinage of a new dollar for use in the
far east, is considered by able states
shrewdest and politically far-reachine
and wisest measures introduced In
congress in many day. This bill will
be of general interest turnout the
country and the world, for that matter
but it will be of particular interest to
Iowans. The bill may be known as
the "Allison BILL" at any event il
should be SO designated. Senator Al
ison is chairman of the sub committee
which for weeks has been at work up
on this proposition and In It's every
line and sentence may be distinguished
the steady, wise and substantial work
| of Senator Allison. The other mem
bers of the sub committee are Senaors
Beyeridge and Dubois. Without any
other two gentlemen, it does not re-
auire a severe strain of the Imagination
to picture the leading spirit IN the
councils leading up to the perfection
of this bill.
The bill provides for the establish
ment of mint at Manila, Philippines
where coins shall be made. under
United States laws. The coin shall be
of practically the same size as our sill
yer dollar, containing 416 grains, nine-
tenths fine. Upon the dollars there
shall be Inscriptions In English, Fill
pino and Chinese languages, also SYM
bols of appropriate character and 1nd-
eating the sovereignty of the United
States.
The owner of silver bullion may de-
post the same at the mint In the
Philippines to be coined as provided
without expense, save one cent for each
piece coined.
This dollar may also be coined at the
mint in San Francisco upon request OF
the government of the Philippines
upon the same conditions, the same die
being employed. Provided, however
that such deposits of silver In the san
Francisco mint shall be confined to Sill
YER produced in the United States
The Philippines government may
also coin subsidiary coins OF the de-
nomination Of so cents, 20 cents and
10 cents.
The purpose Of the trainers OF this
Ibill is understood to be that this silver
dollar shall simply take the place Of; she
Mexican dollar which is now largely
current in the Philippines and IN Chi
ma. 1t is expected that this dollar viii
circulate very largely in China. Its
value will appear upon the coin IN Chi
nese characters. The coin Will be &C.
tually worth it's bullion value, but 1t is
understood that it will be redeemed on
the basis of two dollars for one colo
dollar. making it's commercial value 81
cents.
1t Is expected that great numbers OF
these coins will be circulated in the
Orient and that they will never come
back; will become the standard OF
value In these countries much as, the
Bombay dollar now is in certain quar-
ers. 1t is expected this dollar will prac-
tically drive out the Mexican dollar;
that is that free coinage Of silver in the
Philippines will result in the sale ii as
bullion of practically all the silver coir
now In circulation In the islands. siI
There Is political feature to the bill
which should not be lost sight Of. The
bill is expected to find great favor with
the silver producing states in the union
in fact it is expected to make Colorado
Nevada and Idaho republican states IN
future. -
1t is not thought there can be great
opposition to the passage of the billir
any quarter, and its ultimate enactment
into organic law is confidently predict
ed. -