Evening star., 1937-08-26
OFFICERS ELECTED
BY NUM|SMAT|STS.
J. Henri Ripstra Of Chicago
Heads Group-Mrs.
Ross Talks.

J. Henri Ripstra OF Chicago today
was elected president Of the American
Numismatic Association at the con-
cluding session of the organization s
twenty fifth annual convention at the
Washington Hotel.
Other officers elected were: First
vice president, Herbert w. Walker,
Warren. Ohio; second vice president,
Ernst r. Wernstrom, San Francisco;
general secretary, Harry T. Wilson,
Chicago; treasurer, George H. Blake,
Jersey City, N. j.; librarian and
curator, William S. Dewey, Mount
Vernon, N. Y; board Of governors,
Nelson T. Thorson, Omaha, Nebr +;
Harry Boosel, Washington; L. w.
Hof1ecker, Ell Paso, Tex: Martin r.
Kortjohn, New York. and William A.
Ph1lpott, jr., Dallas, Tex.
Ripstra succeeds T. James Clarke,
jamestown, N. Y. The board of gov
ernors will meet next Winter to select
the 1898 convention city. The session
here was the largest in the history Of
the association, which was founded in
1891 and incorporated by Congress
under Federal charter in 1912
Speakers at last nights banquet
of the association were Mrs. Nellie
Tayloe Ross, director OF the mint
and former Governor Of Wyo-
ming; Alvin w. Hall, director OF the
Bureau of Engraving and Printing, and
Theodore T. Belothe, curator OF his
tory. Smithsonian Institution. Thomas
H. Chapman of the Washington Nu-
mismatic Society presided.
Today's program called for 4 busi-
ness session, election Of officers and
selection of next years convention
city.
Subsidiary Coinage.
Subsidiary coinage-such as nick
els. dimes and quarters--never has
been given the degree Of importance
1t deserves, despite its important role
in the everyday economic life of the
world, Edward F. Kelley, former sec
retary of the Kemmerer Commissions,
told the convention.
It Is hopeful sign, Kelley said,
that numismatists are exerting a
growing influence In the formation
of public policies behind modern
currency reforms.
The attention Of currency ex-
perts has generally been directed to
the major problems Of monetary
standards, metallic ratios, reserve re-
quirements. velocity of circulation
and other purely economic aspects of
those subsidiary coins which make
possible the innumerable transactions
Of our daily lives and directly affect
every individual citizen" said Kelley
He is now employed as adviser on
coinage to the International Nickel
Co., Inc.
New Sizes and Weights.
THE result OF failure by govern
ments to devote due attention TO
subsidiary coinage may be observed
in the heterogeneous systems that
seem to be the rule throughout the
world today" he continued. I'm re-
sponse to sudden emergencies caused
by violent rises in the prices OF
component metals, or because of a
large theoretical profit to be de-
rived from seigniorage, new denomi-
nations, new sizes and weights Of
coins were thrust into an already
confusing system, with utter disre.
gard of such practical considerations
as the convenience of the public, long
run economy. or uniformity, which
should be the principal criteria.
1T is not unusual. therefore, to
fnd score Of coins comprising sev-
eral different alloys in circulation
in a given country, when this same
monetary work could well be done
by four or five coins of adequate de-
nominations and sizes, made of a
single metal or alloy"
Discussing scientific currency re-
form, Keeley cited four factors:
Reduction in diameter and weight
Of all fiduciary coins.
Uniformity through the use of a
single metal or alloy for the entire
SJSSNAAJ SckNSAoAAy al SOuAtl lCS NlVOSS
mints are equipped to handle the en-
tire operation, from melting the
metal to striking the coin.
Abandonment of the precious
metals because OF their wide price
fluctuations and higher cost.
Adoption Of utility rather than OF
relative intrinsic value AS the basis
for selecting the metal to be used
Utility, Keeley defined as including
appearance. durability, saleability. Sc
curity against counterfeiting, low
relative cost and stability of price.
OF the 79 countries, inundated ter
ritories, protectorates and other en-
titles authorized to issue coins, 70
are using nickel, either in its pure
state or as a major alloy, In their
coinage systems, he said.