Show COINAGE OF SILVER DOLLARS carlisle speaks on the practice of the treasury department washington sept 17 secretary car lisle expressed himself today oncoming once ming the coinage of blirer dollars dundei this administration the coinage belne under the portion of the sherman act it shows that since the administration came into power standard dollars bare been coined of which hare been the secretary says while the laar provides that redeemed treasury notes may by reissued it also imposes an ex press limitation upon the power to reissue by declaring that no creator or less amount of such notes shall be outstanding at any time than the cust of silver bullion and the standard silver dollars coined and beld in the treasury purchased by such notes when euch notes are redeemed in gold there is no obstacle in the way of the reissue of the same because buch redemption does not affect the stock of liver held in the treasury under the act of july 14 1890 but when they are redeemed with stiver coined from the bullion purchased under that bet they must be retired and cancelled for otherwise there would be after redemption and reissue a greater amount of notes outstanding than the cost of the silver originally purchased and held in abo treasury and Is expressly prohibited by the statute the purpose of congress was to prevent the duplication of currency which would be the case if tho notes and the silver purchased with the notes could be outstanding at the same time treasury notes received in the ordinary course of business are redeemed in gold or exchanged for silver dollars not coined from bullion purchased under the act of july are not retired and canceled all such notes are reissued prior to the first day 1880 allver dollar to the amount coined from the bullion purchased the so called gain in arising from the coinage was which was paid into the treasury as a miscellaneous receipt leaving to be held as a fund to provide for the redemption of the treasury notes as provided by law attebe adain admin the sum of was detill jn the treasury and standard silver dollars to the amount of has been coined since that time of this last sum however was leaving to be held in the treasury it appears therefore the whole coinage under the act has been and that the amount to be held in the treasury for redemption of the notes and that amount has been retired and canceled no treasury note has been redeemed in silver unless silver was demanded the policy and practice of the department having always been to redeem in the kind of money demanded by the holders of a not the presentation of treasury notes for redemption demp tion in silver aegan in august 1873 when there was great scarcity of currency of all kinds and there was redeemed during that month which Is the largest amount that has been presented during any one month As shown above there were held in the treasury at the beginning of this administration tra tion in silver coined from the bullion purchased under the act of july 14 1890 notwithstanding the fact abut has been coined since that time there are now on hand only |