Part 6

“WHEREAS, The foreign silver (coin) in daily use among the people of the Kwang Tung Provinces has long been in circulation, and is moreover admitted to be advantageous and convenient. In the 5th and 11th years of Tung Chih (1866 and 1872) the Hong Kong Mint coined a new Dollar which, upon comparison with pure silver, bore a proportion of fully ninety per cent., and as the Records will prove. Proclamations were issued notifying the people that it might come into general circulation. There has lately come to Hong Kong a newly coined American Eagle Dollar, called the “Trade Dollar,” and Sir Brooke Robinson, the British Consul, having requested that officers might be appointed to assay it, the Viceroy and Haikwan thereupon appointed officers to melt it down and assay it, in concert with (an officer from the British Consulate), when, taking the Haikwan Tael of pure silver as the standard, an outturn was obtained of fully 89.61—or Taels 111.6 of this new Eagle Dollar are equal to 100 Haikwan Taels of pure silver. Minutes of the assay were drawn up in proof thereof.

“For the convenience of Traders and people, therefore, this coin should be allowed to be tendered in payment of duties at the rate of touch obtained at the assay, and to come into daily circulation. It becomes the duty then of the Viceroy and his colleagues to issue a Proclamation on the subject for general information.

“This Proclamation, therefore, is for the information of you merchants, traders, soldiers, and people of every district. You must know that the ‘Eagle Trade Dollar’ that has lately come to Hong Kong has been jointly assayed by officers specially appointed for the purpose, and it can be taken in payment of duties, and come into general circulation. _You must not look upon it with suspicion._ At the same time rogues, sharpers, and the like, are hereby strictly forbidden to fabricate spurious imitations of this new Eagle Dollar, with a view to their own profit.

“And should they dare to set this prohibition at defiance, and fabricate false coin, they shall, upon discovery, most assuredly be arrested and punished. Let every one obey with trembling! Let there be no disobedience!

“A Special Proclamation. Tung Chih 12th year, 9th moon—day (October, 1873.)

“Translated by

“(Signed) WALTER C. HILLIER.”

JAPAN.

Perhaps the peculiar adaptability of the Japanese character cannot be better illustrated than by their late monetary revolution, especially as their coinage is hedged around with laws, with penal attachments of no doubtful character. In the small morocco case marked “Japan” are a few specimens of their original coin. Of this series the large gold plate, four inches by three and a half, is known as the “Gold Oban,” their most valuable coin, worth about seventy-five dollars. This coin is of perfectly smooth surface, with an elaborate black inscription of Japanese text, burnt in by a chemical process. To take the “Gold Oban” out of the kingdom is _punishable with death_; to remove it by mistake, subjects the offender to imprisonment for life. The other coins in this case are, in their composition and shape, as distinctive as the Japanese are peculiar as a people. The progressive character of the Japanese is exemplified by their recent acceptance of the United States system of coinage.

The mind of the Japanese proletaire has been much troubled in recent years with regard to the coinage of his country; not that he ever has much of the currency in question, but the Japanese proletaire has no pockets, and he finds it awkward to carry in his hands such coins as he contrives to possess. In ancient times his rulers were more considerate. They punched square holes in the centre of the coins, through which he passed a string, and was thus able to carry about his available capital tied around his neck or to his waistband, which in those days was his sole garment. The coins were not large in amount; it took a thousand of them to make a few shillings, while a cart was required to convey five dollars worth. But with civilization came an improved coinage, larger in value, and with no holes, and the pocketless proletaire naturally grumbled that civilization treated him hardly in this respect. Paper currency for small amounts partially satisfied him for a time; but at last his cries have been heard, and the Japanese Government has promised to issue a new coin specially for his behoof. Its value is rather less than one cent, and is to possess the indispensable hole, by which he can string it as a child strings beads, and he is probably content.

TURKEY.

Turkish coins often bear texts from the Koran on either side, so it may be said the tenets of their religion are their circulating medium. The piastres in this collection are generally those now in circulation.

EGYPT.

Egypt’s antique coins were of Greek or Roman workmanship, of which the very finest is in the case marked “Selections,” and has not its superior for interest or beauty in the world. It was the work of some Greek artist, and presents the head of Arsinoe, wife of Ptolemy. It was found in 1868, and bought by the United States Government at a high price; but as only three had been found, its market value may be named by thousands, though its metal value is not more than twenty dollars.

This notice of Oriental coins may conclude with suggestive reference to the “Cufic coins,” of which there are some valuable specimens. The first is the silver dirhem of Walid, the eccentric caliph of Damascus, A.D. 713. There is also in case XV. a coin of the reign of Haroun Alraschid.

FRENCH COINAGE.

The French have the credit of making the greatest improvements in modern coinage. The French coins are a history of that nation, from the small coin issued in the reign of Louis “the Meek” to the last currency of the republic of France, spanning a period of one thousand years.

In design and execution the French coins bear the impress of the national character, and also give assurance of the art patronage in which her rulers, failing in much, have never wavered, but brought all their power and cunning to bear on securing the best artists, as in the instance of Francis I. beguiling from the holy father that exquisite artist Benvenuto Cellini, or the later _enterprise_ of Napoleon Bonaparte. No. 83,—a medalet of the unhappy Mario Antoinette,—which is in itself very beautiful, and from its tragic association attracts general interest.

GERMANY.

The collection of Germany is very large and divided and sub-divided by its kingdoms and principalities.

One of the most interesting coins of any age, and excelling in beauty as well, is the gold medallic ducat on which are the heads of Martin Luther and Philip Melanchthon. This coin is very generally admired by visitors to the Cabinet.

COINS OF SWITZERLAND.

Switzerland is modestly represented in all her cantons, each, like the classic Greek town, enjoying the coining privilege. There are several pieces of commemorative and artistic worth, especially the two issues of the republic of 1796.

RUSSIAN COINS.

The double rouble, with a magnificent draped head of Peter the Great, is unexcelled for strength of outline, and valuable as a correct portrait of one of the very greatest and most self-reliant of modern rulers. Turning to another rouble, the features of Elizabeth II. are recognized. It may be assumed, with all due deference to royalty, that this portrayal is the most laughter-provoking figure ever stamped on metal. She is so fat as to have the effect of “spreading herself” all over the coin. Another rouble presents the majestic Catherine II.

Of the coins marked Denmark, Norway, Sweden, there can be only the copper half-daler of Sweden mentioned. This coin is four inches square, weighs about twelve ounces, and is equivalent to a United States silver half-dollar. The daler of Sweden, thaler of Germany, dollar of Spain and America, are all synonymous terms.

ENGLAND.

The first coins of Great Britain were of tin, according to Cæsar’s authority, who mentions the “tin money of Britain,” which has lately been sustained by the discovery, in some work of excavation, of coins of that metal in antique design. These coins are, however, of little use, by reason of the obscure inscription, or rather the frequent absence of all device.

The English collection in the Cabinet begins with a coin made after the stater of Greece, presenting the head of Minerva, with Greek helmet on obverse, while the reverse gives the figure of a woman most crudely drawn. It is supposed this rude attempt at art was coined about the time of the Roman invasion. Note the contrast presented in placing this relic by the side of the Victorian sovereign, where, on the obverse, is the queen’s head superbly cut; on the reverse, Wyon’s inimitable figure of Una and the Lion. These two coins are the Alpha and the Omega of British coinage, while the thousands issued between them are progressive links to civilization.

Two small coins are placed here, thought to be contemporary with the Christian era, having no device, but an attempt to portray the sun on one side. No. 2 is the skeattae of Ethelbert I, king of Saxony, and is the first Saxon coin which has yet been appropriated. It bears upon the obverse the head of the king; on the reverse is the figure of a bird.

Next in interest is No. 6, the penny of William the Conqueror. The bust of that famous monarch is attempted; 1068 is about the year it is supposed to have been made. During the three centuries following, the condition of England, whether she was at peace or war, is plainly indicated by her coinage. Every added province is memorialized in coin. The rose, thistle, and fleur-de-lis, all tell in strange language for flowers of bloody battles, long sieges, perils by the sea and land; at last all resistance bowing before the ever-increasing power of Great Britain.

The first coin of English issue was dated in 1553, being either the close of Edward VI.’s or the beginning of Queen Mary’s reign. This is claimed by many to be the first coin dated, though old medals of the preceding century have been found with date.

In 1558, the ryal or royal of Queen Elizabeth was issued. On the obverse the queen is grandly enthroned, while the reverse is a large rose, in the centre of which are the Danish arms of Britain, and the arms of Anjou quartered. This coin and the pound sterling of Charles I. are in Case XV., “Selections.”

This pound sterling is one of the famous “siege pieces” of that unhappy king,—which were often made on the field with hammer and anvil out of the family plate brought to the closely-pressed Stuart by his faithful followers. It is to be regretted that so much valuable family plate of no mean workmanship was thus sacrificed. This “siege piece” is the largest silver coin known. The legend upon it, rudely inscribed, is, “Let God arise; let his enemies be scattered;” above are three fleurs-de-lis, with date, “1642.”

In 1684-88, during the short reign of James II., several varieties of new coins were introduced, notably, “Maundy Money,” a small coin made to be distributed by the king on “Maundy Thursday.” Beggars, on that day, received from his majesty bags containing as many maundy pieces as the king had lived years.

King James II. also had issued “gun money.” This variety was made out of old cannon, after the suppression of an Irish rebellion. Though not even giving a glance towards the interesting series of Queen Anne, it is impossible to pass unnoticed the beautiful bust of George IV., by Chantrey, upon a pattern five-sovereign piece. This well-executed bust of “the handsomest man in Europe,” was said to be the means of Sir Francis Chantrey being knighted. That vain monarch was as careful about how his face would appear to future generations as was Alexander of Macedon; and Chantrey well knew if he placed upon the shoulders of sixty years the head of forty years, he had given the cabalistic words which would be the “open sesame” to royal favor.

The gold sovereign of Victoria, Nos. 183-184, has, on the reverse, an evidence of coins as a deposit of law archives. The shield surrounded by a crown, and bearing the arms of Great Britain quartered; but the arms of Hanover _are omitted_. Although Victoria was next heir to William IV., she was prevented by the Salic law from assuming the sceptre of Hanover. On this coin, it may be remembered, are very beautifully presented the rose, the thistle, and the shamrock.

A recent addition has been made to the Mint Cabinet of a very fine sovereign of the times of Oliver Cromwell, purchased at the coin sale of May 14 and 15, 1885.

Scotch moneys of any variety, are very much prized by collectors (see, in Case XV., “Selections,” “Groat of Robert Bruce, 1602.”) A very rare coin is the penny of Robert II. of Scotland, said to be the only specimen in existence of that monarch’s reign. In the seventeenth century the coinage of Scotland merged into that of England.

ENGLISH SILVER TOKENS,

issued in England, Scotland, and Ireland. During the long suspension of specie payments, occasioned by the wars with Napoleon, the minor currency of England was supplied, not with small paper notes, but with silver tokens, issued by banks and traders, and made redeemable in bank notes. They were of reduced weight, to keep within the premium, and to prevent hoarding. They continued to circulate until the return of better times and of regular silver coinage. There were many varieties, most of which are here.

PORTUGAL AND SPAIN.

The coinage of Portugal and Spain in the fifteenth century, held greater sway than that of other countries. Of their coins, there are many fine specimens in the Mint Cabinet. The “joe and half-joe[12]” of Portugal are known of all nations, while the Spanish dollar, with its pretentious two globes under a crown, did not claim too much, and only tells the almost limitless rule of the great Philip. The coins of these nations became, through their possessions in the New World, the circulating medium of that portion of the earth. Spanish and Mexican dollars were almost synonymous, while the real and joe of South America was patterned after that of Portugal, which fact can be learned in this Cabinet. As nations decay it will be seen their coins become inevitably less trustworthy; even a glance at the cases marked “Portugal,” “Spain,” will give this lesson. In the Mexican collection there are issues which seem to contradict this assertion, for the “Mexican dollar” has, for generations, had a position in the monetary world of almost unchallenged credit, yet not by reason of the recognition given Mexico, but because of the _United States using it so extensively_; for, until the introduction of the “trade dollar,” this country had _no currency_ that would meet the demand of the Oriental market.

MEXICO.

The Mexicans use only gold and silver, and their national series is full of tragic interest, embracing, as it does, three and a half centuries of Mexican history, from Cortez to Maximilian. The “pillar dollar,” “windmill dollar,” “cast dollar” (the Mexicans are the only nation that cast money), and the “cob money” (a series so called by reason of its clumsiness), are all to be seen in this collection.

COINS OF BRAZIL.

One coin, a gold “half-joe,” issued in 1832, with the infant head of Dom Pedro, is very beautiful. By the side of this, in every way a contrast to it, is a series of copper coins of a late issue with the head of the “child” now seated on the throne. The coins of Bolivia proudly present the bust of Simon Bolivar. Among the West Indies are many samples of “cut money.” The law permitting money to be quartered had to be repealed, because the traders of the West Indies made the wonderful mathematical discovery that _five quarters_ make a whole!

* * * * *

Leaving both the eastern and the western world and their coins, there is a single piece, of small commercial value, which is yet a light-house in mid-ocean. This is the one cent of the Sandwich Islands, the only venture of that kind made by the enterprising little kingdom. The inscription is “Kamehameha III., one hundredth, Hawaii.” The name of the king being interpreted signifies “the solitary one,” which is singularly well adapted to the coin.

COLONIAL COINS.

In 1684, the charter of the Massachusetts Bay Company was revoked, and the governor recalled; one of the alleged grievances by the crown was a colonial law concerning the Mint. The currency used by the colonies was chiefly from England, Spain, and Portugal, but the supply was limited from these sources, and the mother-country was jealous of any infringement of her prerogative of coinage. There are various specimens of the “pine-tree” money of Massachusetts in the Cabinet. Some doubt has arisen as to the species of tree intended, but it is generally accepted as the emblematic pine. This is claimed to be about the second colonial issue, a kind of semi-official coin. The first was from the Bermudas.[13] It is a shilling piece, stamped by one John Hall, silversmith, of the city of Boston, 1652, who made a very good speculation of the privilege. There has lately been added to the Cabinet a sixpence of this rare money. The work on this species of coins is so exceedingly simple as to present little save a planchet. On the obverse, a double ring around a pine-tree; legend, “Massachusetts in;” and on the reverse, a double ring also, containing the legend, “New England An Dom.[14]”

Charles II., it appears, was easily deceived in regard to the significance of the “pine-tree shilling.” Sir Thomas Temple, a friend of the colonies, adroitly presented one of these obnoxious coins to the irate monarch, explaining that the tree was the “royal oak” which had saved his majesty’s life. Whereupon the king, laughing, denominated his trans-Atlantic subjects “honest dogs,” and allowed the coinage to proceed.

During the reign of George I. a new species of coin was issued from the English Mint, denomination half penny, and it is asserted upon good authority that this was the only issue ever authorized by the home government for general circulation in the colonies. It was a coin of mixed metal, resembling brass. The head of the king was on the obverse; inscription, “Georgius Rex.” The reverse, a large double rose under a crown; legend, “Rosa Americana.” Upon a scroll, “Utile Dulci.[15]”

“Peltry,” we learn, was one of the principal articles of currency, and was known as “pelt,” or Massachusetts currency, and was extensively used in trading between Indians and whites, sometimes called “Beaver Money,” “Corne, Wheate, Barley, and Rye;” and a still more quaint currency was established, as will be found in an old Massachusetts court order, as follows: “_It is likewise ordered that muskett balletts of a full boare shall passe current for a farthing a peece, provided that noe man be compelled to take above 12d. att a tyme of them._”

In Maryland, not only cattle, tobacco, and other produce was accepted as currency, but powder and shot were also included. Lord Baltimore, in 1660, sent over to Maryland the “Baltimore” shilling. In the colonial case there is a series of these exceedingly rare coins. They were a shilling, sixpence, groats, and are all of the same design, differing only in denomination. They were coined in London, and compare favorably with any minting of that age. The bust of Lord Baltimore on the obverse is very well cut; his name “Cecil,” is the legend. On the reverse, the coat of arms of Cecil, Lord Baltimore, is given; this device has been re-adopted by the State of Maryland. The substitution of any legal tender seems to be fraught with danger, and at best is jealously scanned by the people; and there was trouble to put this coin into circulation. The people, though demanding coin, did not yield their old currency of “_wheat, corn, tobacco, powder, and shot_,” without a demonstration. The Carolinas, Virginia, and New Hampshire all followed Maryland in the introduction of a colonial coinage.

In the interval of the Revolution, known as the Confederacy, the growth of the spirit of independence in the people is plainly written on their coins, especially upon their tokens or individual coins. We notice one inscription attributed to Franklin, “_Mind your business_;” and others, such as “_Good copper_,” “_Cut your way through_,” and like characteristic expressions. The “New York Doubloon” was coined in 1787, value sixteen dollars. This coin is highly esteemed by reason of its rarity, and its market value to-day is about five hundred dollars, as only three or four are known to be in existence.

The Washington cent of 1791 (so-called) was not a coin of the United States, but was struck at a private mint in Birmingham, England, (Boulton’s), partly, no doubt, to bespeak the “job,” and partly to _please Americans_ generally.

It has been said that Washington objected to putting his head on the coins, and it may be true; but it was also objected that no man’s head should appear on the coin of a republic, which, whether good doctrine or not, is still the prevailing idea. The “cent of 1791” is of two types, one very rare and costly, with a small eagle. The other, with a large eagle, is more common, and perhaps sells for about five dollars at a public coin sale.

UNITED STATES COINS.

The first copper coins made by the United States Mint were one cent and one-half cent issues, of which there were four designs: 1st, the “chain cent;” 2d, the “wreath cent;” 3d, the “flowing hair;” and 4th, the “liberty cap,” which was used for a number of years. The “chain” device was not acceptable to the sensitive American mind, and of consequence the accidental breaking of the die was not a subject of regret, but “quite the contrary.” The pattern sections of United States coins are very beautiful and varied, especially those in gold.

THE TRADE DOLLAR.

This coin bears on the obverse a female figure seated on bales of merchandise, holding in her left hand a scroll on which is the word “liberty.” At her back is a sheaf of wheat; this and the bales of goods indicate the commercial character of the coin. Her right hand, extended, offers the olive branch. On a scroll beneath the figure are the words “In God we trust,” and the date below, “1873.” The reverse has a circling inscription, “United States of America, Trade Dollar.” In the centre is an eagle, in his claws three arrows and a sprig of olive. On a label above are the words “E Pluribus Unum.” Below, “420 grains fine,” very beautiful in design.

HISTORY OF THE TRADE DOLLAR.

The coinage of the Trade Dollar was authorized by act of February 12, 1873, and was not intended for circulation in the United States, but for export to China.

It was designed to compete with the Spanish and Mexican dollar. That empire, having no mint for the coinage of gold or silver, depended upon foreign coin for its domestic circulation, and until the institution of the Trade Dollar the principal shipments of coin to China were in the form of Mexican dollars.