During January 1923, companion bills were introduced in the House of Representatives and Senate that called for the striking of half dollars "in commemoration of the three hundredth anniversary of the settling of New Netherlands the Middle States, in 1624, by Walloons, French and Belgian Huguenots, under the Dutch West India Company." Fred Benjamin Gernerd (R-PA) was the sponsor in the House; David Aiken Reed (R-PA) handled matters in the Senate.
The House bill was referred to the House Committee on Coinage, Weights, and Measures. The Senate bill was referred to the Senate Committee on Banking and Currency.
The Senate Committee moved quickly, and reported the bill in early February without amendment; it was subsequently passed in the Senate without debate or objection and sent to the House. The House Committee also moved promptly, but reported the bill with an amendment - it added language to specify the party that was to be financially responsible for the coins (a provision lacked by the original bills).
When the bill came up for consideration in the House, Representative Gernerd rose to lead the discussion:
"Mr. GERNERD. Mr. Speaker, I would like to substitute for the House bill the [Senate] bill."After Gernerd made a statement affirming that the Senate bill was "identical" to the House bill, no objection was raised regarding the substitution.
[The Clerk read the Senate bill.]
After the bill was read, Representative Gernerd continued with a request to amend the bill by including the amendment proposed for the House version of the bill by the House Committee on Coinage, Weights, and Measures:
"Mr. GERNERD. Mr. Speaker, I move to amend the bill by inserting after Section 2 a new Section 3 in accordance with the amendment which I sent to the Clerk's desk.
"The SPEAKER pro tempore. The Clerk will report the amendment.
"The Clerk read as follows:
"At the end of the Senate bill insert a new section as follows:
"SEC. 3. That the coins herein authorized shall be issued only upon the request of the Fifth National Bank of New York, and upon payment of the par value of such coins by such bank to the United States Treasury.
"The SPEAKER pro tempore. The question is on agreeing to the amendment.
"l\fr. [Thomas Lindsay] BLANTON. Mr. Speaker, I reserve a point of order for the purpose of getting some information. Why should this particular bank handle the matter?
"Mr. GERNERD. Because the Treasurer of the United States wants some responsible depository to do business with.
"Mr. BLANTON. Is this particular bank going to give this enterprise that the gentleman is fostering the benefit of the premium or bonus at which these coins will sell?
"Mr. GERNERD. The bank gets no interest out of it at all, except that it must make itself responsible to the United States Treasury, and being a member of the clearing house of New York City.
"Mr. BLANTON. It will reap no benefit whatever, but carry out the purpose of this act?
"Mr. GERNERD. Yes; and I wish to say that the President of the United States is the chairman of the celebration."(Nothing like the ultimate name drop!)
With that, the amendment was agreed to and the bill was passed. With both chambers of Congress in agreement, the bill was sent to US President Warren G. Harding and signed into law on February 26, 1923 - about six weeks from introduction!
Representative Blanton sure seemed suspicious of the bank's motives!
1924 Huguenot-Walloon Tercentenary Half Dollar
For a bit more on the Bank's involvement, see:
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1924 Huguenot-Walloon Tercentenary - RevisitedFor other of my posts about commemorative coins and medals, including more stories about the Huguenot-Walloon half dollar, see:
Commems Collection.
Posted 02/18/2025 1:29 pm
