Word: tokenized
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Last Sunday ended the first year of Bishop's Pence. Out of the banks, it was estimated, 2,700,000 pennies had jingled, as token of 2,700,000 prayers of grace in Chicago homes. Half the $27,000 had been returned to parishes, for such uses as a new roof over St. Martin's and a debt liquidated for St. Bartholomew...
Significant point about the announcement was that none of this silver was bought under the Silver Purchase Act. Some of it was received as token payments from foreign governments on their War Debts. Some of it was bought at 64? per oz. from U.S. silver producers under the President's proclamation of last December (TIME, Jan.1). Some of it came from melting down old coins. But how much, if any, silver the Government had bought in the open market, in the U. S. or abroad, remained a dark secret...
...fine thing to say in London last week that not since Edward III had a British Government defaulted. His Majesty's Government has considered it worth while to make "token payments ' on its war debt to the U. S. only because President Roosevelt, after receiving each token, has always expressed the personal view that it wiped away the stain of technical default. Last week it was the painful duty of the Chancellor of the Exchequer, hawk-nosed Neville Chamberlain, to explain to the House of Commons that President Roosevelt was no longer able to gild tokens with their...
Rheumatic Chancellor Chamberlain magnanimously paraphrased last week's British note to the U. S., the text of which had leaked out prematurely in Washington "due to a misunderstanding for which the United States Government is in no way responsible." While announcing that no token payment would be made June 15, the note declared: "The attempt to transfer amounts of this magnitude would as its immediate effect cause a sharp depreciation of sterling against the dollar, which as His Majesty's Government understands would not be consistent with the monetary policy of the United States Government...
...class of 1908, being the last class to graduate under Dr. Eliot as President of the University, has presented him with a mahogany desk as a token of their regard...