Companion bills to "authorize the coinage of 50-cent pieces to commemorate the tercentennial of the foundation of the city of New York" were introduced by Representative Abraham Jacob Multer (D-NY) in June 1953 and by Senator Herbert Henry Lehman (D-NY) for himself and Senator Irving McNeil Ives (R-NY) in July 1953.The House bill was referred to the House Committee on Coinage, Weights, and Measures; the Senate bill to the Senate Committee on Banking and Currency. Multer was a strong advocate for the proposed coin and worked diligently on behalf of the coin's sponsor, Committee for New York City's Three Hundredth Anniversary Celebration.
The Committee was established under the authority of NYC's then-current Mayor, Vincent R. Impelliterri, in 1952. The Committee had grand visions of a celebration that would "commemorate an important historic occasion...dramatize and emphasize the developments that have taken place in New York during three centuries; to stimulate interest in our [NYC's] rich heritage, and to call attention to the vital forces in all fields of endeavor that have contributed to the city's growth."
To implement its grand vision, the Committee realized that it would also need a grand budget, and set about raising the necessary funds through private channels as the celebration was not to be financed by the city. It explored many fund-raising opportunities - some more successful than others - including a commemorative coin that it could sell as a fundraiser.
The bills introduced on its behalf called for up to five million (!) half dollars of standard specifications, with an initial mintage of at least 200,000 coins. The bill did specify an expiration of coining authority two years after its enactment, but did not place any restrictions on which US Mint facilities could be engaged, the date to appear on the coins or the size of follow-up coin orders. Based on the mid-year introduction of the coin bills, the Mint would have felt the pressure of trying to get the initial batch of coins produced during the 1953 anniversary year.
The Senate bill was the first to be reported out of Committee. The Committee reported the bill without amendment and recommended that it pass. In its report, the Committee noted the initial mintage provision for 200,000 coins and stated that it "is sufficiently large that it precludes the issue from acquiring an artificial-scarcity value." It was a "tip of the hat" to the sponsor.
The bill was then considered in the Senate in August 1953. The bill was immediately objected to by Robert Clymer Hendrickson (R-NJ) , but Senator Ives requested that he be able to make a brief statement. Hendrickson held his objections and Ives offered an interesting perspective:
"My colleague [Mr. Lehman] and I have introduced this bill at the request of the people of the city of New York. I dare say that all Senators, at least those who have been here for a reasonable length of time, have been importuned now and then to introduce this type of legislation.
"A question of policy has arisen. For a long time I have turned down such requests from my constituents. I have understood that since the late 1930's It has been an executive policy not to approve such special coinages; consequently, when this proposal was first made I turned it down. But, lo and behold, the House of Representatives now has seen fit to pass House bill 1917, which is Calendar Order 730, and which would authorize the coinage of 50-cent pieces to commemorate the sesquicentennial of the Louisiana Purchase.
"That being the situation, and as the House thus has deliberately, to use the common vernacular, passed the buck to the Senate, with the idea presumably that the Senate is not going to pass the House bill, I feel it is high time that we reach a determination of policy with respect to matters of this kind. If it is to be the policy of the Senate to turn down coinage legislation, let it be the Senate's policy, and not merely the policy of a single committee. If we want to take the matter into our own hands and say that we, as one of the two bodies of the legislative branch of the Government, are going to frown on legislation of this type, that is all right. But I think we should accept the challenge of the House and pass the matter on to the President of the United States. I believe the Chief Executive is quite as much concerned as are we and I feel that we should pass the three coinage bills now on the calendar. They all should stand or fall together."
Note: The three coinage bills referenced by Senator Ives were the Louisiana Purchase Sesquicentennial, the Northampton, Massachusetts Tercentenary and the New York Tercentenary. (See links below.)[Upon the completion of Ives' remarks, Senator Hendrickson renewed his objection and the bill was passed over. It resurfaced in January 1954 - more than five months after its original consideration - with Senator Lehman taking point this time. In his comments supporting the bill, he remarked: "New York City has for three centuries played a very prominent part in the history of our country. It has been a Dutch city, a British city, and for the past 180 years an American city. It has been active in industry and commerce and in the - cultural, educational, and spiritual life of the Nation. The issuance of the special coinage is a small but very appropriate recognition of the great part which New York City has played-in the life of our Nation and of the free world."
No objection was raised to the bill's consideration, so the Senate considered it, passed it and sent it to the House.
The story concludes here:
What If? 1953 New York City 300th Anniversary - Part IIFor more of my topics on commemorative coins and medals, including more What If? stories, see:
Commems Collection.
Posted 03/17/2023 05:37 am
