Coins For Universal Circulation

With the cornpliments of the author we have received a panphlet on monetary standards, being 'a "Memorial of Henry NelsonLoud, of xVu Sable, Mich., in Relation to Monetary Standards - Au Argument for a Universal Standard Dollar." It wasjntroduced in the U. S. Senate Jan. 28, 1897, by Senator McMillan, and ordered printed. Mr. Loud is an advocate of Symmetallism, which as we undcrstand it, is a i'öin containing both gold and silver, and this is the proposition: "ïhat all ations admit to free and unliuiited coinage a universal Standard dollar omposed of 0.8065 gramme of gold (oneïalf of a gold 5-franc piece) and 12)4 grammes of silver (one-half of a ilver 5-franc piece) 0.900 fine, raio 16)4 to 1, and that in the year 900 this be declared the universal tandard of money." Then Mr. Loud goes on to prove the necessity of some sort of bimetallism, y quotations from eminent authorities, and,by practical experience, from every ommercial nation on the face of th earth. The idea of universal standard coins s this : Gold, $10; gold and silver, $1; silver, oO cents, 25 cents or 20 cents, 10-cent ; 5cent nickel, 1-cent bronze, one-half cent, mili. The mints to be closed to all other coinage. The ten-dollar gold iece will come from the recoinage of ;old coins of foreign nations. "Thomas Jefferson says that 'the ;reatest safeguard against counterfeitng is fine workmauship.' I think this coin should be 2% centimeters (about 1 nch) in diameter and 3 millimeters about oue-eighth of an inch) thick. Ibis is of the size and thickness of two quarters of a dollar. Unless the difficulty of coinage prohibit, the face side should have a medallion head of the president or monarch in gold, the name of the country issuing the coin, and th& year. On the reverse, "Universal Standard dollar," the figure "1," and the sign of universal standard dollars, which is a U crossed by an S; also ".8065 grams gold" and "'2% grams silver." "We do not anticípate the universal standard dollar coinage is to imuiedately take the place of the old, but that it will be an addition to the present coinage of all nations in exchange for material furnished for service rendered to the silver and gold producing countries, or from debtor to creditor. Whatever premium gold may be in any country above this standard dollar, this premium will act as a bar to trade against that country or as a protective tariff in in favor of the debtor or consumingjcountry . ' '