The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1903-05-24
The Peso and Centavo Pieces Have q
Strange Look Coming from Amer
lean MINIS.
DESIGNS MADE BY A NATIVE
COINS WORTH ONLY ABOUT HALF As
MUCH As OUR SILVER MONEY.
Why This Coinage II Not Done mt Ma
Mia Mfnt-Hovy the silver Is
Handled and shipped.
a, the Indianapolis Journal.

Correspondence OF the Indianapolis Journal.
WASHINGTON, May 24.-It 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 curiosities OF the nu-
mismatical world when put In circulation.
They will be the lawful money of a people
under the sovereignty OF tive United states
yet will not be legal tender on this side OF
the Pacific-nor even in Hawaii nor Tu-
tuila
Our Philadelphia and San Francisco
minis are already stamping out 100000 OF
these coins per month and will continue to
manufacture them at that rate for year
or more The Philippine government de-
sires to inaugurate its new financial system
on July /, which is Uncle Sans fiscal new
year day wherever his flag floats. Congress
authorized a coinage of 100000 pesos for
the archipelago. but il Is unlikely that such
a great number OF the new coins will be re-
quired in the near future. Forty millions
at the outside will replace the Philippine
coin TOW in circulation. Besides these
10000. 900 pesos. about 100000 OF the new
subsidiary coins. at the outside, will be
enough to last many years.
Perhaps you will never see one of these
odd coins-nine-tenths OF us American citi-
gems probably will not And, moreover, 1t
Is very unlikely that you will see pictures
OF them, inasmuch as IL is unlawful TO pic
torially reproduce any Of Uncle Sans
money. 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 z. 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 so centavos, 20
centavos and 10 centavos. The nickel, not
yet coined. will be a 5-centavo piece. and
the coppers-also uncompleted-a 1-centavo
and h-centavo piece. One hundred centavos
are equal to 1 peso. All will bear the same
designs They will differ only in size. metal
and UNCONVENTIONAL designation.
The diverse, or head" was designed by
q Filipino artist. A native Filipino girl.
barefooted and in the short, loosely draped
frock of her race, stands with her right
hand grasping hammer, which rests upon
an anvil In the left foreground. Her loose
locks flow to the breeze, and in the right
background smokes a formidable volcano.
This figure symbolizes the young Philippine
government working out her destiny. Above
this design words designating the coin-as
s.One Peso''-are arched. Beneath. all of
the coins. Is "FILIPINAS." The reverse
side OF each coin has a design emblematic
of the sovereignty OF the United States. 1t
As the American shield surmounted by the
American eagle. Above Is United States
of America" below, 1903"
The peso IS the size OF the Mexican silver
dollar. Although larger than our silver dol
lar and containing more silver. II will be
worth just one-half as much on exchange.
The 50-centavo piece is trifie larger than
our half dollar but will be worth only as
much as our quarter. The 20-centavo piece.
while only a mite smaller than our quarter,
will be equal TO our dime exchange,
while the 10-centavo piece, also in silver,
while larger than our dime. will be equal
only to our nickel. The nickel 5-centavo
piece about the size OF our nickel, will be
worth only 21z United States pennies. The
1-centavo copper piece win be almost twice
as heavy as our cent. and worth just half
as much. The 1A-centavo piece will have
nearly the weight OF our penny. but will
be worth one-quarter as much.
BUYING SILVER
These new coins contain the same alloy
rs Is placed in ours OF similar size The
silver pieces are now worth just about
their intrinsic value. Should silver rise
considerably 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 the 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 5 cents per ounce since our
treasury commenced to purchase bullion
for the new coins. but is still compara-
lively low. having just about recovered its
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 Thurs
days of each week. when he purchases as
much as he needs for the Philippine COIN
age. After the silver Is bought here in
Washington IL Is delivered at either the
Philadelphia or San Francisco 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 Philadelphia comes, perhaps,
through the port OF New York Most of
that coming from this country is being pro-
duced as by-product OF gold. copper or
lead.
The Philippine officials will not see these
news coins until about June l. The first
shipment was made from San Francisco
on May /. when the army transport Thomas
sailed out of the Golden Gate with / 300 OoO
pesos. On the 18th instant 100000 pesos
and 10000 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 saw
valuable.
MINIS CHARGE FOR COMING.
The Philippine government is paying
Uncle Sam I cent for each peso coined
What will be charged for turning out the
subsidiary and miner coins has not yet