Arizona republican., 1921-06-20
 RESUME COINAGE. |OF J. ]. SILVER |DOLLARE AF TER 7-YEAR LAY-0FF
Must Replace 270,009, 900 Coins Taken from < he, Treasury and Sold to' England During War
[RepubIIe.n \. 2. Lea.ed wIrel

WASHINGTON. June 1e-CoinaEe i of silver dollars has been resumed by 1 the mint after several years and the work of replacing 270.000.0oo standard silver dollars taken from the treas ury during the war to sell to Great Britain has started
 Since March treasury officials said tonight. approximately 20 million silver dollars have been coined In the same period correspc ndinE amounts of silver certificates were issued and federal reserve notes se- curing them retired This process, officials said. would probably con- tinue five years until the treasury's reserve of silver dollars is back to it's pre-war basis
 The mint. officials explained. ceased coining silver dollars in 1914. when the supply of metal purchased under the coinage act was exhausted. Further authority to make the dollars was mot forthcoming until 1918 when congress passed the Pittman act to enable the sale of melted doi- lars to England for the relief of the silver famine in India.
 Under the act. Director of the Mint
 Baker sold to England 2Te.000. 900 t'lver dollars. amounting to POS. .o00.- 000 ounces of silver at $1-01h an ounce plus the market price of the copper content The half cent. he ex- plained. paid for the cost of melting and transportation and the cost of recoinage.
 The work of refilling the hole left l in the tre3sury's vaults. Mir. Baker | said. was well under way, the mint | striking off silver dollars at about | s.o00. GOO to 10000. 900 a month | Since May, 1920. the mint has | bought about 55.000.000 ounces oi | will continue Its purchase at thi'
 price until the treasury's stock is re- | plenished.
 Although the Pittman act reouirei | the mint to pay $1 an ounce for it' Il silver. Mir. Baker declared inquiries are received demanding to know wh, the government pays so much nor
 than the market price. The price wa
 fixed by tie act. he stated. to stab
 ilize the price of silver when ther' were Indications of its reaching un heard heights during the var As
 result confining the freasury's pur chases to silver both produced an' reduced in this country the Amcricai silver mining industry was protectei
 from foreign competition. Mir. Bake said
 \ Because of the price at which silve was sold to England. the governmen
 is breaking a little better than ever he added
 The history of the Pittman as
 sales. treasury officials recalled. wa
 what former Secretary Glass descrit
 ed as one of the romantic incident
 of the war" | In 1918, officials said. Great Brit aims Mesopotamian campaign wa
 threatened by the silver famine in Ir
 dia- Silver was hoarded and hidds . by the natives. German propagand !, seeking to block Bngland's plans. wa { spreading the report that the go' a ernment could not redeem its pap
 currency.
 The British ambassador laid h n country's plight before this goverI . ment.
 . MT. Baker suggested that the stan' e ard silver dollars lying idle in u q treasury could be used and certif d cates outstanding against them IT n placed by federal reserve notes Tl l. Pittman act was passed in six day o Silver began to move from the su IT treasury at once