NEW SILVER CARTWHEELS ONLY TEMPORARY MEASURE

"The new silver dollars which are just appearing in Cambridge are a temporary expedient occasioned by unusual circumstances," said Professor A. A. Young in explaining the little-known reasons for their coinage to his class on Money and Banking yesterday. "Secretary Mellon does not intend the silver dollars as a permanent addition to the circulating medium."

Bureau of Engraving Swamped

Professor Young explained that the Bureau of Printing and Engraving in Washington, which prints the government paper money, has been swamped since the war with more work than it can do.

"Upon it fell the printing of Liberty Bonds and Victory Bonds. The rise in prices, moreover, occasioned the issue of large additional quantities of paper money."

Professor Young went on to say that added to these causes of congestion in the Bureau, there has been a shortage of the special paper stock used for government notes. Instead of 100 per cent linen paper formerly used, the Treasury has had to resort to cotton paper stock. Money printed on this inferior paper deteriorates rapidly in circulation, and when sent into Washington to be replaced cannot be successfully laundered and reissued as could be the higher grade linen paper.

He pointed out that this makes another demand upon the already over-taxed Bureau of Printing and Engraving. To relieve the congestion Secretary Mellon ordered the coinage into dollars of some of the silver bullion stored in the Treasury vaults.

"Under these circumstances," said Professor Young, "I think one shouldn't object to carrying around a few silver dollars, even though they do disturb one's equilibrium and center of gravity."