CO129-186 - Public Offices & Others - 1879 — Page 146

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United States notes have appreciated nearly to par

other Countries will be found advantageous

>

not only to the Chinese but to foreign resident

at the different port

with gold,

holders

of silver bullion have been

The American

Trade dollar has been well received in that

Empire, and

if this trade

coinage should incidentally afford protection

to our mining interest which have already

been injuriously affected by the fall in the

value

f

silver it could hardly be regarded otherwise then as sound national policy."

In his Report for 1876-77,

J Linderman

shews that this view of the Trade-dollar

adopted by the United States Government.

His statement is as follows : __

was

4

The Trade- dollar how of

late entered to

some extent into domestic circulation, and this

the reason that, from time to time since

United

for

*-

able to have the same manufactured into these

coins, and exchange them at par for United States Notes with a small profit. This fact on

becoming known was regarded

regarded as indicating

that the trade dollar coinage.

for the

time being (October 1876) in excess of the export demand and led to the issuing of. an Order by: the Secretary of the Treasury to temporarily

intermit the receipt of depozit at the Mink for

theee coins. There are weighty

weighty reasons why the

Trude-dollar should not be coined.

coined for

domestic)

circulation, but it is hardly worth while to stak

them, since the law provides very clearly that

The fact, as stuted ; would appear hardly to have warranted this assumption, as the operation was presumably undertaken not in consequence of any decrease) in the export demand, but because profit

on it.

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the

They