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Show SILVER DOLLAR IS NOVJ BEIHG COINED U. S. M!.TS RESUMES WORK OF COINING SILVER DOLLARS TO MEET SHORTAGE SINCE WAR 270, COO, CCO, Standard Silver Dollars Were Sold to Great Britain During Dur-ing War And Will Not Be Re-deemed Re-deemed by U. S. Ccvernment Wn-ilKiigioii. Coiiiiigc of silver dollars dol-lars hn.s In ! n resumed by tin; limit after :;c,vn e.n s and I he uoi'k of. replacing re-placing -lit,ty-x,)i) standard silver dollars dol-lars taken from the treasury during the war to sell to Croat Briaiu has started. Since March treasury officials aid Saturday, approximately 'JO.DDD.OD'I silver sil-ver dollars have been coined. Ill the same period corresponding amounts of .silver ceililicales were Issued and federal fed-eral reserve notes and treasury certificates certifi-cates securing them retired. This process, pro-cess, ol'IViiils said, will probably continue con-tinue live years, tint i 1 the treasury's roserve of silver dollars is back to Its prewar basis. . The mint, officials explained, ceased coining silver dollars iin 101 1, when the supply oi' metal purchased under the coinage act, was exhausted. Further jiuthurily to make She dollars was not forthcoming until 10 IS, when congress passed the Hitman act to enable the Kale of rieiled dollars to England for lie relief f the silver famine In India. In-dia. I'lider the act Director of the mint r.aker sold to Kngland 270,000,000 silver sil-ver dollars, amounting to 208,000,000 (cnices or silver, at $1.01 an ounce plus the market price of the copper content. con-tent. The 1'f,c he explained, pa-id for the cost of moling and transportation ii'id the cost of recoinage. The work of refilling the hole left In the treasury's vaults, Mr. Baker said, was well ruder way, the mint, striking i'T silver dollars at about S.000,000 to 11 0"ii CCO a month. S'li. e May 1020 the mint has bought n'.ont .",." 000.000 ounces of American ."liver at $1 an ounce and will continue to purchase at this price until the treasury's stock is replenished. Although the Hitman net requires tic mint to pay $1 an ounce for its silver. Mr. Baker declared inquires are rocdved demanding why the government govern-ment pays ':o much more than the mar-Hi mar-Hi urice. The price was fixed by the act he slated, to stablize the price of silver sil-ver when there were indications of its rea hing unheard of heights during the war. As a result of confining the treasury's purchases to silver both pro-dit""d pro-dit""d and reduced In this country, the Ani 'i-ican silver mining industry was pre'ced from foreign competition, Mr. Bn'-ep said was sold to England, the go'-oniment Is breaking a little better th"'i even, he added. T' history of the Hhnan net sales. nfT'c-als recalled, wa.s what former Sec-refarv Sec-refarv ofTicias recalled, was what former for-mer Secretary Class described as one of the "romatic incidents of the Avar." Tn IMS, officials said. Great Britain's Me Mi-otamian campaign was tbeatened by the silver famine in India. Silver was hoarded and hidden by the natives Ceiian propaganda, seeking to block England's plans, was spreading the report re-port that the government could not redeem re-deem its paper currency. The British nmbassador laid his country's plight before this government. govern-ment. Mr. Baker suggested that the standard silver dollars lying idle In the treasury could be used nnd certificates certifi-cates outsfandng against them replaced replac-ed by federal reserve notes. The Pitt-man Pitt-man act was passed in six days. Silver Sil-ver began, to move from the suhtreas-uries suhtreas-uries at once. |