[Congressional Record (Bound Edition), Volume 148 (2002), Part 3]
[Extensions of Remarks]
[Pages 3311-3312]
[From the U.S. Government Publishing Office, www.gpo.gov]




            THE SEPTEMBER 11TH, 2001 COMMEMORATIVE COIN ACT

                                 ______
                                 

                         HON. STEVEN R. ROTHMAN

                             of new jersey

                    in the house of representatives

                        Thursday, March 14, 2002

  Mr. ROTHMAN. Mr. Speaker, today I introduced the ``September 11th, 
2001 Commemorative Coin Act'' which calls for the introduction of a 
circulating commemorative coin that would honor the victims of the 
events of September 11th.
  A generation ago, the events of December 7th, 1941 became not only a 
day of infamy, but also a reference point that no one has forgotten. My 
father knows precisely where he was on that Sunday in December, just as 
I suspect nearly all Americans know what they were doing when the World 
Trade Center and the Pentagon were attacked.
  Events of cataclysmic proportion, as well as epic struggles, have 
long been commemorated on the coinage of various countries. Canada's 
tombac nickel, for example, issued in 1943, contains a new reverse 
design from the famous Churchill ``V'' for victory over the Nazi Axis 
war machine.
  America's circulating coinage is not so different. The heraldic 
eagles utilized on the reverse of our coinage has had the beak of the 
eagle pointed, variously, to olive branches of peace, or towards the 
talons holding arrows of war.
  Nonetheless, important historical personages, as well as historic 
events, have long been common on coinage. That's precisely the reason 
why the destruction of the World Trade Center in New York, a 
galvanizing event if ever there was one, deserves permanent 
memorialization on our nation's coinage.
  Striking such a coin would permanently memorialize, for all time, the 
event that occurred, and to offer some numismatic assurance that it 
will not be forgotten. It affords a permanent memorial to the more than 
3,000 innocent victims--a tribute that they richly deserve.
  An article suggesting this was published shortly after the events of 
September 11 in Numismatic News, a coin collector's periodical. The 
author is my Mayor, my neighbor and friend, David L. Ganz, of Fair 
Lawn, New Jersey. David is a former member of the Citizens 
Commemorative Coin Advisory Committee, and a past president of the 
American Numismatic Association, and I would like to have the article 
reprinted in its entirety in the Congressional Record.
  Mr. Speaker, the events of September 11 call for a distinctive 
tribute to honor not only those who perished, but also those who 
remain. I believe that coinage, as it has been for thousands of years, 
is an appropriate response and urge prompt consideration of the bill 
introduced today.

                [From the Numismatic News, Oct. 2, 2001]

               Put World Trade Center on New Half Dollar

                           (By David L. Ganz)

       America's tragedy that is personified by the destruction of 
     the twin towers of the World Trade Center in New York City, 
     through a vicious, criminal assault on its sovereignty on 
     Sept. 11 in a suicide bombing, is deserving of a lasting 
     tribute.
       Coinage, since the time of Caesar, has served the 
     simultaneous purpose of doing the business of commerce and 
     remembering historic events that are worthy of commemoration. 
     In ancient times, coins of that ear were utilized to pay 
     homage to the emperors, to celebrate victories on the 
     battlefield.
       Two members of Congress, Rep Elliot Engel, D-N.Y., and J.C. 
     Watts, R-Okla, are evidently planning to introduce 
     legislation creating a ``Spirit of America'' coin to 
     commemorative the victims of the attacks. Engle, from the 
     Bronx, and Watts, from Oklahoma City, have seen their 
     neighborhoods fall victim to terrorism.
       The idea of using the medium of the Caesars to mark our own 
     catastrophe is a good one. Events of cataclysmic proportion, 
     as well as epic struggles, have long been commemorated on the 
     coinage of various countries. Canada's tombac nickel, for 
     example, issued in 1943, contains a new reverse design from 
     the famous Churchill ``V'' for victory over the Nazi Axis war 
     machine.
       America's circulating coinage is not so different. The 
     heraldic eagles utilized on the reverse of our coinage has 
     had the beak of the eagle pointed, variously, to olive 
     branches of peace, or towards the talons holding arrows of 
     war.
       The heraldic eagle on the reverse of the silver dollar 
     (1798-1804) is one example of this (pointed toward arrows of 
     war), while the Seated Liberty dollar of 1840-1873 had the 
     eagle's head pointed toward olive branches, as does the 
     Morgan dollar (1878-1921).
       In the 20th century, the first circulating commemorative 
     was struck for the centennial of the birth of Abraham 
     Lincoln, in 1909. The Annual Report of the Director of the 
     Mint simply noted that, ``With the approval of the Secretary 
     of the Treasury the new design for the bronze one-cent coin 
     was adopted in April 1909. On the obverse the head of Lincoln 
     appears instead of the Indian head which this piece had borne 
     since 1864. The engraver of the mint at Philadelphia was 
     instructed to prepare dies and coinage of this piece was 
     commenced in May. . .''
       In March 1931, Congress enacted legislation overturning a 
     portion of the Act of Sept. 26, 1890 (limiting design changes 
     to no more frequently than once in 25 years on circulating 
     coinage) and specifically authorized and directed the 
     Secretary of the Treasury ``for the purpose of commemorating 
     the 200th anniversary of the birth of George Washington, to 
     change the design of the 25-cent piece so that the portrait 
     of George Washington shall appear on the obverse, with 
     appropriate devices on the reverse. . .''
       Following President Roosevelt's death in 1945, the Mint 
     produced a Roosevelt memorial medal, and also introduced a 
     new circulating commemorative coin design for the dime (dated 
     1946). Vermeule terms the coin ``the logical memorial for 
     Franklin Roosevelt in the regular coinage.''
       After the assassination of John F. Kennedy, Congress 
     enacted the law of Dec. 30, 1963, directing that the Franklin 
     half be replaced with a design ``which shall bear on one side 
     the likeness of the late president of the United States John 
     Fitzgerald Kennedy,'' a motif which Vermeule terms a ``hasty; 
     emotional advent'' even though the design is ``a tolerable, 
     staidly handsome coin.''
       The One Bank Holding Company Act of 1970 required a coin to 
     ``bear the likeness of the late President of the United 
     States, Dwight David Eisenhower, and on the other side 
     thereof a design which is emblematic of the symbolic eagle of 
     Apollo 11 landing on the moon.''
       In 1973, Congress passed Public Law 93-127 which directed 
     the Treasury Secretary to commemorate the Bicentennial of the 
     American Revolution with a reverse design change for the 
     quarter dollar, half dollar and dollar coin, all of which 
     were intended for circulation, but of which only the quarter 
     dollar really achieved circulation. The colonial drummer boy 
     on the quarter, dated 1776-1976 (and produced in 1975 and 
     1976 by the Mint) still can be found occasionally in 
     circulation today, a reminder of our Bicentennial celebration 
     a generation ago.
       The half dollar (bearing Independence Hall on the reverse), 
     and the dollar (Liberty Bell imposed on the lunar surface) 
     never really achieved circulation. Occasionally, examples of 
     the half are found in circulation. The dollar coin never 
     really entered circulation in the first instance. Collector 
     versions of the coins were struck in silver-clad material, as 
     required by law.
       More recently, in 1979, a dollar coin commemorating Susan 
     B. Anthony was produced by the Mint. The reverse was directed 
     to have ``a design which is emblematic of the symbolic eagle 
     of Apollo 11 landing on the moon.'' Its design was identical 
     to that of the Eisenhower dollar authorized in 1970. The coin 
     did achieve partial circulation in some areas of the country, 
     and in that sense is a circulating commemorative coin, but 
     never archieved general circulation success.
       Nonetheless, important historical personages, as well as 
     historical events, have long been common on coinage. That's 
     precisely the reason why the destruction of the World Trade 
     Center in New York, a galvanizing event if ever there was 
     one, deserves permanent memorialization on our coinage.
       There is a danger, from the close proximity of headlines, 
     to suggest what will become history. But in the same sense 
     that President Roosevelt termed the attack on Pearl Harbor a 
     day of infamy, so, too, the attack on the twin towers of the 
     World Trade Center marks the start of a 21st century war that 
     is unlikely to be over quickly, or events that will be 
     quickly forgotten.
       The very metal that the coins are made of is the reason 
     that they should be struck--to permanently memorialize, for 
     all time, the

[[Page 3312]]

     event that occurred, and to offer some numismatic assurance 
     that it will not be forgotten. It affords a permanent 
     memorial to more than 5,000 innocent victims, a tribute that 
     they richly deserve.
       Unlike other issues, this one should have no surcharge at 
     all. Even if numismatic versions are authorized, they should 
     be available to the public on the basis of cost plus a modest 
     profit for the Mint.
       What should be considered, however, is directing the use of 
     the seigniorage, which, if a half dollar is chosen, would 
     constitute about 46 cents for every coin. If the Mint were to 
     produce 750 million of such coins in a year's time, the 
     seigniorage would be a remarkable down payment on the 
     rebuilding of the World Trade Center, which cost an estimated 
     $350 million per tower to construct when completed in 1973.
       To accomplish this, a bill would have to be introduced in 
     the Senate and House, passed by both chambers, and approved 
     by the President. Modestly, here's my proposal to do just 
     that:

     

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