Evening star. [volume] (Washington, D.C.) 1854-1972, 1903-05-23
MONEY FOR F|L|P|N0S
Is Now Being Made in Uncle
Sans MINIS.
PESOS AND CENTAVOS
ALTOGETHER THERE ARE SEVEN
VARIETIES OF COINS.
Larger Than Our Silver Pieces, but
Worth Only Half as
Much.
PESOS AND CENTAVOS

Copyright. 1903. by John Elfreth Watkins. jr)
Written for The Evening Star.
1t seems odd that Uncle Sam should be
coming pesos and centavos for his own
subjects doesn't it? His new Philippine
silver. nickel and copper coins bearing
these denominations will be anomalies and
curlosities of the numismatical world when
put in circulation. They will be the law
full money of people under the sovereign
ty of the United States. yet will not be
legal tender on this side of the Pacifc-nor
even in Hawaii nor Tutuila-
: Our Philadelphia and San Francisco
minis are already stamping out 25OO,O 600 of
these coins per month, and will continue
to manufacture them at that rate for a
year or more. The Philippine government
desires to inaugurate its new financial sys-
tenn Oh July 1, which is Uncle Sans fiscal
New Year day wherever his flag floats.
Congress authorized a coinage of 10 600 900
pesos for the archipelago. but it Is unlikely
that such a great number of the new coins
will be required in the near future. Forty
millions at the outside will replace the
Philippine coin now in circulation. Be-
sides these 40,O00,OO0 pesos, about 10000 900
of the new subsidiary coins. at the outside,
will be enough to last many years.
Perhaps you will never see one of these
odd oins-nine-tcnths OF us American citi-
zens probably will not. And, moreover. 1t
is very unlikely that you will see pictures
of them, inasmuch 1t is unlawful to pic
! torially reproduce any of Uncle Sans
money. I held one of each of the finished
denominations in my hand yesterday. They
were fresh from our new Philadelphia
money mill, and were In the desk drawer
of George E. Roberts. director of the mint
bureau of the Treasury Department.
What They Look Like.
. There will be seven different coins, four
of silver. one of nickel and two of copper.
! The four silver pieces. which have already
! been coined. are the peso. fifty centavos,
twenty oentavos and ten centavos The
nickel. not yet coined. will be a hve-cen-
pleted "a one-centavo and one-half- CEN
tavo piece. One hundred centavos are
equal to one peso. All will bear the same
designs. They will differ only in size, met
nj and UNCONVENTIONAL designation.
The diverse or head was designed by
n Filipino artist. A native Filipino girl,
barefooted and in the short, loosely draped
frock of her race, stands with her right
hand grasping a hammer which rests upon
an anvil in the left foreground Her loose
locks flow in the breeze and in the right
background smokes a formidable volcano.
This figure symbolizes the young Philippine
".
this design words designating the coin-as
"One Peso"-are archcd. Beneath. on all
OF the coins, is "FILIP1NAS." The re-
verse side of each coin has design en-
States. 1t is the American shield sur
mounted by the American eagle Above is
United States of America below 1903"
The peso is the size of the Mexican sill
yer dollar. Although larger than our silver
dollar and containing more silver it will
be worth just one-half as much on ex-
change. The fifty-centavo piece Is trifle
larger than our half dollar, but will be
worth only as much as our quarter The
twenty-centavo piece, while only a mite
smaller than our quarter. will be equal to
our dime on exchange, while the ten-cen-
tavo piece. also in silver. while larger
than our dime, will be equal only to our
nickel The nickel flve-centavo piece
about the size of our nickel. will be worth
only 21s United States pennies The one
centavo copper piece will be almost twice
I as heavy as our cent and worth just half
as much. The -half-centavo piece will
have nearly the weight of our penny, but
viii be worth one-quarter as much.
Buying Silver.
These new coins contain the same alloy rs
is placed In ours of similar size. The sill
Vcr pieces are now worth just about their
. Intrinsic value. Should silver rise consid-
erably these silver Philippine coins would
probably be sold for bullion melted up and
wrought into forks. spoons and what not
1t Is estimated that this would be the case
should the value of tho silver in one peso
reach "a cents as a result of a scarcity Of
the white metal But no one apprehends
that any such rise will take place In MANY
a day. The price of silver has advanced S
cents per ounce since our treasury COM
menced to purchase bullion for the new
coins. but Is still comparatively low, having
Just about recovered It's drop of last year
caused by the condition of affairs in China
smelling and mining firms are now making
tenders of silver to Director Roberts on
Mondays and Thursdays of each week
when he purchases much as he needs for
the Philippine coinage. After the silver ia
bought here in Washington 1t Is delivered
at either the Philadelphia or San Fran
cisco mint 1t Is coming in from Montana
and the adjacent regions all the way up
and down the silver mining belt Some of
that delivered at San Francisco is coming
from Mexico and some delivered at Phila-
delphia comes perhaps through the port of
New York Most of that coming from this
country Is being produced as a by-product
OF gold. copper or lead.
. The Philippine officials will not see these
new coins until about June /. The first
shipment was made from San Francisco
on May l. when the army transport Thomas
sailed out of the Golden Gate with !. 200 600
pesos. On the 18th instant $500, 900 pesos
ana 100000 of the subsidiary coin were
shipped by steamship from Philadelphia to
reach Manila by way of the Suez canal
Both of these shipments were fully COW
cred by marine insurance, as a provision
against a catastrophe such as that which
made the 1904 dollar famous, not to say
valuable.
MINIS Charge for Coming.
The Philippine government is paying
Uncle Sam one cent for each peso coined.
; What will be charged for turning out the
subsidiary and minor coins has not vet
been determined. but 1t will probably aver
age q cent each.
T We came into possession of an old Span
( ish mint in Manila and Congress left il to
/ the discretion of the Philippine government
whether its new coins should be manufac-
! tured there or in our minis. The Manila
mint is an old affair without the equipment
necessary for such an undertaking. 1t was
3 therefore. decided that 1T would be cheaper
/ In the long run for our minis to do the
. work. This they will do at a reasona BILE
charge until a new Manila mint Is COM
pleted. The new Philadelphia mint has
turned out the greater number of the new
coins thus far. but that at San Francisco
will do more than half the work In future