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Show SILVER DOLLAR IS NOW BEING COINED U. 8. MINTS RE8UME8 WORK OF COINING 8ILVR DOLLAR8 TO MEET 8HORTAQE SINCE WAR 270,000,000, Standard Sliver Dollar Wero Sold to Great Britain During Dur-ing War And Will Not De R deemed by U. 8. Government Washington. Coinage of silver do!, lnrs has been resumed by tho mint after soven yours and the work of re-placing re-placing 270,000,000 standard silver dol-lnrs dol-lnrs taken from tho treasury during Uio war to sell to Great Hrltnln has started. Slnco March .treasury officials said Satunlny, approximately 20,000,000 silver sil-ver dollnrs liavo been coined. In tho snmo period corresponding amounts of sliver cortincntes were Issued nnd fed-oral fed-oral reserve notes nnd treasury certificates certifi-cates securing them retired. Tlds process, pro-cess, offclnls snld, will probnbly con-tlnue con-tlnue llvo yenrs, until the treasury's reserve of silver dollars Is back to Its prewar basis. The mint, officials explained, ceased coining sllverdollnrs In 1014, when Uio supply of metal purchnscd under tho colnngo net was exhausted. Further authority to mnko the dollars was not forthcoming until 1018, when congress passed tho I'lttmnn net to cnnblo tho salo of melted dollars to England for tho relief of tho silver fumlno In In-din. In-din. Under tho act Director of tho mint Raker sold to England 270,000,000 silver sil-ver dollnrs, amounting to 208,000,000 ounces of sliver, nt $1.01 an ounco plus tho market prlco of tho copper content. con-tent. Tho lc ho explained, pnld for tho cost of melting nnd transportation nnd tho cost of recolnago. Tho work of refilling the holo loft In tho treasury's vaults, Mr. Hnker said, was well under way, tho mint, striking off silver dollars nt nbout 8,000,000 to 10,000,000 a month. Slnco May 1020 tho mint has bought nbout C5.000.000 ounces of American silver nt $1 an ounce nnd will contlnuo to purchnso nt this prlco until tho treasury's stock Is replenished. Although tho Plttinnn act requires tho mint to pny $1 an ounco for Its silver. Mr. Hnker declared Inquires nro received demanding why tho govern ment pays ko much moro than tho market mar-ket price. The price was fixed by the act ho stated, to stabilise tho prlco of silver sil-ver when tlicro wero Indications, of its reaching unheard of heights during the war. As a result of confining tho treasury's purchases to silver both pro-duccd pro-duccd and reduced In this country, the Amerlcnn silver mining Industry wns proteced from foreign competition, Mr. Hnker snld was sold to England, tho government Is brenklng a llttlo better than even, ho ndded. Tho history of tho Pltmnn act sales, officials recalled, was what former Secretary Sec-retary offlclns recalled, was what former for-mer Secretary Olass described as ono of tho "rotnntlc incidents of tho war." In 1018, officials snld, Great Hrltnln's Mcsopotnmlnn cnmpnlgn wns tlieatened by tho silver famine In Indln. Silver wns honrded nnd hidden by tho natives Gorman propaganda, Reeking to block England's plans, was spreading Uio report re-port thnt tho government could not redeem re-deem Us paper currency. Tho HrltlRh nmhnssndor Ink! his country's plight before thin govern-ment. govern-ment. Mr. naker suggested thnt tho standard silver dollars lying Idle In the treasury could bo used nnd certificates certifi-cates nutstnndng ngnlnst them replaced replac-ed by. federal reserve notes. Tho Pitt-man Pitt-man net was passed In six days. |