The Fairmont West Virginian. (Fairmont, W. Va.) 1904-1914, 1904-06-17

lii M elAA ~
EDUC ED Hal,
aNew orleans Coin Factory viii De-
sss crease Its outP 81
WAsHINGToN, June The he
force of employees at5the New orleans cans:
4 4 rrnirt vim be reduced 50 per cent al
Sstfle begInning OF the new fiscal year
81 Ir,1ySS1 This decision of the Treasury
B { ,t.T,a rtI11ent will affect number OF
+ worthy persons for whom up to the:
q ast NON ent there was some hope Of
con tlnned employment, in view OF the
efforts which were being put torth #
stt,,ys friends to maintain the operation
iof the mint during the next hscaA
year with a full force
Two causes have contributed to
make this impracticable-on the
u S,n,niniou of the legal representatives
5grf the Treasury Departm ent that II
s was wi thout authority to purchase
silver bullion for subsidiary coinage
IN the absence of special Legislation
2$rr CONGRESS. as recomm ended in the
last annual report of the Secretary
ssllSr,fz the Treasury, and the other the
decision Of the Government of Pan
ANA in suspending action upoa the
b Ss pending coinage legislation, after
having tentatively consented to nave
ITS coinage done in the United States
IA official the Treasury Depart
uents to-day, while discussing the
prospects Of increasing the volume OF
subsidiary coins over the 100000
1000. as recommen by Secretary
shaw IN his last annual report, said:
s he Treasury Department will be
\ compelled ito wait until Congress re-
-cnnvenes and makes provision for
the purchase of silver bullion before
1t viii be able to see its way clear in
raising the limit Of subsidiary COIN
age above the amount of 100000
suu0now5 fixed by law. Besides, there
is now more small change than is
needed ito meet the demands OF
trade, If the financial Statement OF
the department may be taken as
guide According Ito that report,
there is now little more than S12,-
zoo, 900 in fractional currency in the
vaults of the Treasury for which
there is seemingly no demand. Add
led to this there is now in the Treas
/ ury, silver bullion to the value of
S5;403,156, which was purchased IN
rIersthe act of 1890 and which is avail
able for conversion into fractional
curTency.''
ssss$ twas learned from another official
source thatSw11ile this statement is
true the bullion is not available for
use by the New Orleans mint, as it
as locked in the vaults of~the Phila-
SdeIphia and San francisco minis,
and the department is unwilling to
defray the expense OF its transports
ton to the mint at New Orleans,
where it could be readily and quick
y4converted into small change.
I Friends of the New Orleans mint
had built up some hopes that the
Panama coinage would be done in the
Immediate future at that institution. 4
This hope has been swept away, how
ever, by the action of Panama itself.
Representative of which country
viii meet in Washington next Satur~
@S7ay5witbs$ a. view of conferring with
somcia1s of this government for de-
9eEnaining the character of their
coinage Even after this question
shall have been disposed of, it will
{ he necessary for. the enactment Of a
law by the Congress Of Panama, APP
proved by. the President Of that Re-
public, before the mint authorities of
es'United States can take action in
the matter When these fornlalities
shall have been complied with appli-
cation may be made by Panama
through the Department of State for
$sshe8 coinage Of its money in this coun-
Try that Government furnishing
Y proof at the same time Of the regular
Ity OF the act.
.'The Pi Line.'
11od OF +bn