Q. David Bowers
"It would appear that the director of the Mint, in attempting to comply with the request of the ANA committee for such acoin, combined the commemorative feature with a new design for a regular issue, which resulted in a coin that apparently pleases only a few.
"But it was out of the question to get the kind of a coin the ANA asked for, it would have been possible, even with the limitations and restrictions imposed on the designers of coins, to get one more truly commemorative of peace. Much of the dissatisfaction with the design of the dollar selected was probably due to the fact that the competing sculptors were allowed so little time in which to complete their models.
"The coinage law requires that there shall be on one side 'an impression emblematic of liberty.' This does not restrict the designer to the use of a female head, even if such a head has often been used for the purpose. We must consider this head not solely as belonging to a female, but as the head of the goddess 'Columbia.' The head of a female in itself is not emblematic of liberty. Females do not enjoy as much liberty as males. Therefore, if the head of one of the sexes is to be used as emblematic of liberty, it should be a male head. The use of an Indian head on our nickel is entirely out of place. The Indian in these days has little more liberty than the inmates of our penal institutions.
"The female head was used on our $20 gold coin for over 50 years. Saint-Gaudens discarded the head entirely with his design for 1907. Weinman and MacNeil both followed his lead in their designs of the half dollar and quarter dollar a few years ago and gave us a 'Liberty' in a different and more attractive form.
"A design 'emblematic of liberty' can be interpreted as an artist in many ways without approaching the allegorical type. Allegory belongs to the medal rather than to the coin.
"There can be no serious objection raised to the provision of the law requiring that on the other side of the coin shall be a figure or representation of an eagle. It has always occupied a place there, sometimes in a more natural pose than at others. When this provision was enacted-130 years ago-the eagle was more numerous than he is today. Perhaps its selection as a fitting emblem for a coin was because he was the king of birds rather than because he was more or less a bird of prey. The eagle does not enjoy any more liberty than other birds except that appropriated by him by virtue of his size-a characteristic we condemn when exercised by an individual.
"But the provision of the law that he shall occupy a place on the reverse on a coin does not necessarily mean that he shall be the whole reverse.
"The United States is a different nation from what it was when our coinage laws were framed, but these laws have remained practically unchanged so far as designs are concerned. Our coins have not kept pace, until invery recent years, with our advancement in other respects. At times there has seemed to be actual retrogression in the types. Is this not an opportune time, when so much dissatisfaction is expressed with our latest emission, to make a concerted effort forsome changes in the laws affecting the types or designs?"
No Design Change (March 1922)
The Numismatist, March 1922, advised readers of the following:
"No Change to Be Made in Design of the Peace Dollar. "The report of coinage at the United States mints for January shows that no silver dollars were coined during the month. As a matter of fact, the report shows that no United States coins of any denomination were struck except the one cent piece-a rather unusual thing.
"This fact, as well as the fact that silver dollars had been coined each month in fairly large quantities ever since the resumption last summer, gave rise to press reports that further coinage of them had been suspended for the purpose of making some changes in the designs as the result of criticism made in the press. A dispatch from New York on February 2 said:
" 'Future financiers, now operating as' messenger boys in Wall Street, have started a drive to corner the newly coined 'Peace' silver dollar, it was learned today. The coins, of which slightly more than a million were minted, are selling at a premium of 25 to 50 cents each-the youthful buyers playing a 'hunch' that the issue will be recalled because of criticism of its design and its general make-up, which does not admit of easy stacking.'
"It is hardly likely that messenger boys or anyone else will be able to corner an issue of over one million pieces. Writers of press dispatches should also know that the government does not 'recall' coins after placing them in circulation.
"Another dispatch from New York, dated February 3, said: "'Distribution of the silver 'Peace' dollars bearing the date 1921 has stopped at the government agencies, and while Treasury Department officials here have no information on the subject, they are under the impression no more of the Peace dollars will be issued. They command a slight premium. A total of $1,006,473 of the series of 1921were coined, of which $75,000 were distributed through the Federal Reserve Bank of New York. It is reported the die may be entirely changed because of criticisms of the dollar. The principal criticism is that the wings of the eagle are close by the side of the bird instead of outstretched, as in every other coin on which the American eagle is reproduced.'
"So far as our observation goes, there has been little or no criticism voiced through the press on account of the wings of the eagle being close to its sides. The writer of the above is also in error in stating that this is the only coin on which the eagle is shown with its wings in that position. The $10, $5 and $2-1/2 gold coins have the eagle with its Wings close to its sides.
"The rumors of a change of design were set at rest, according to a dispatch from Philadelphia on February 9, by a statement from Director of the Mint Baker, as follows:
" 'There is no foundation for the report that Peace dollars will be withdrawn,' he said. 'Dies for the coinage of this piece are about finished and everyone of the three coinage mints will be ready shortly to make them. Many people do not seem to realize that this dollar was designed and put out under the provisions of the law. Designs for dollars or any other form of currency are not made up to suit the arbitrary whims of the director. The federal law says that the design of the dollar may change every 25 years, with the approval of the director of the Mint and the secretary of the Treasury. Designs were submitted by eight of the leading sculptors of the nation, and were passed upon by a committee of artists.'
"The mints are now coining silver dollars, the director said, to reduce the Federal Reserve bank notes and the reissuing of silver certificates backed by silver dollars, under provisions of the Pittman Act. All mints are now on an eight-hour basis, he said."
PeaceDollar Mintage (October 1922) The Numismatist, October 1922, carried this item:
"Director of the Mint F. E. Scobey as quoted as saying that it will probably require two more years to recoin the silver dollars sold as bullion during the war, at the rate purchases of silver being made under the Pittman Act."