The sun. [volume] (New York [N.Y.]) 1833-1916, 1912-05-13
DEALERS ALARMED BY
PROPOSED SMALL COINS
Corporations Also Excited by
Prospect Of 3 Cent and
Half Cent Pieces.
STREET RAILWAYS ROUSED
Fear Expressed That Bulkley
Bill Will Cut Cost Of Beer,
Fares and other Articles.

WASHINGTON. May i2.-The prospec-
tive enactment into law Of the Bulkley
bill authorizing the coinage Of . three
cent piece and half cent piece has
thrown dealers in small wares and many
corporations into a state Of excitement
Beer, carfares and articles Of commerce.
that are placed on the market at . mini
mum Of S cents may cost only cents
IL the Bulkley bill reaches the statute
books. The bill also menaces the copper
cent Tho copper 10 said to corrode and
collect dirt and accordingly endangeri
the health Of those who handle It. II ID
proposed that the cent OF the future shal
be composed In large part Of nickel and
will to some extent resemble the S cent
piece now in use.
Tho idea Of reintroducing the cent
piece to American currency originated In
Cleveland, where q cent carfare 10 i'm.
posed by city ordinance. The bill author.
izing the issue was introduced BY Repre-.
sentative Bulkley Of Cleveland. 1t passed
the House after being considered BY the
Committee on Coinage. Weights and
Measures.
Secretary Of the Treasury Macveagh
and Director Of the Mint Roberts recon-
mended the passage Of the bill, suggest
ing that's provision be adopted requiring
3 cent and half cent pieces to be made in
sizes that would not conflict with coins
now in use.
1t is the intention to have the cent
piece made Of a composition Of which
nickel will be the base and the half cent
piece Of copper and zinc.
All the street railways Of New York
city have filed a strong protest against
the passage of the bill and the Ameri-
can Railway Association is also waging
an active warfare against it.
In general the banks seem to be op-
posed to the bill and . most determined
fight is to be made against II before the
Senate by those who failed to get in their
work while the bill was pending in the
House.
Cash register manufacturers claim
that II the bill is enacted into law 1t Will
cause a complete recasting Of their ma
chimes. but representatives Of the slot
appear to favor it. having been assured
by the Director Of the Mint that the coins
can be produced in such form that they
cannot be used a. substitutes for l
cent or cent pieces.
Altogether the proposition has aroused
many people and the Senate Finance
Committee. which has the bill under con-
has been asked from numer-
Gus sources to grant extended hearings.
Mayor Newton D. Baker OF Cleveland
and Mayor Brand Whitlock Of Toledo
summarized the reasons for the 8 cent
piece in the following statement, sent TO
the Committee on Coinage, Weights and
Measures:
First. a three cent niece will be Of meal
culabie immediate advantage TO the COM
munities wherein prices. fares. &c. Of
various commodities and service are on
three cent basis. or multiple thereof. viz.
three cent fare in Cleveland. Toledo and
elsewhere on street railways: three cent
art ticles on bill OF fare. three cent amuse-
ments, &c.
Second. a three cent piece will provide a
smaller medium with which to purchase
hundreds OF articles which are now arbi-
trarily sold for nickel for want OF a smaller
coin. thus establishinsla juster and more
rational relation between value and price
Third. a three cent piece will enable the
masses to purchase commodities in smaller
quantities. as in European countries. thus
encouraging economical buying.
There are no valid. substantial objections
10 the coinage of three cent piece. On the
other hand the advantages to be gained
are many and substantial and We believe
careful consideration Of them will win
your confidence and appro val and indorse-
ment Of the bill.