144
-they shall be coined only to meet the export
demand, and leaves no discretion as to their
coinage for any other purpose" An Act was in
fact passed in July 1876 depriving Trade dollers
o
their limited legal knder character.
In his last Report, Dr Linderman, on
discuping
at length the position of the Trade
dollar, states that in the latter part of 1877 ° from the appreciation of United States Notes as
compared with gold,
of
silver, a
charge
gold
and the decline in the value
hade dollar added to it
Coinage
became of less intrinsic value than the
value
f
a dollar note, and holders of
silver bullion deposited the same at the links
for returns in trade - dollars, and placed them
in circulation at a profit to themselves . "The
amount held by the Californian banks, and
in circulation as money within the United
States, he estimates at about $5,000,v v o
Finally while insisting upon the advantages to be derived from the continued) coinage of trade- dollars for commercial mo
Dr Linderman shews that succesful
purposes,
thare
attempts had been made to place coins in
domestic circulation, and that, if they should
a
again succeed in acquiring
legal- tender character, large quantities of them would be
brought back from Foreign countries, and he reports that in February 1878 the Secretary of
the Treasury directed that the receipt of deposits of silver for coinage into hrade - dollars should be entirely discontinued.
These statements seem to show that it is
doubtful whether the comage of trade - dollars
will