was an American fifty-cent piece struck in 1925 at the Philadelphia Mint. Its main purpose was to raise money on behalf of the Stone Mountain Confederate Monumental Association for the
near Atlanta, Georgia. Designed by sculptor
on the obverse and the caption: "Memorial to the Valor of the Soldier
of the South" on the reverse. The piece was also intended to be in
memory of the recently deceased president, Warren G. Harding, but no mention of him appears on the coin.
In the early 20th century, proposals were made to carve a large
sculpture in memory of General Lee on Stone Mountain, a huge rock
outcropping. The owners of Stone Mountain agreed to transfer title on
condition the work was completed within 12 years. Borglum was engaged to
design the memorial, and proposed expanding it to include a colossal
work depicting Confederate warriors, with Lee, Jackson, and Confederate
President Jefferson Davis leading them.
The work proved expensive, and the Association advocated the issuance
of a commemorative half dollar as a fundraiser for the memorial.
Congress approved it, though to appease Northerners, the coin was also
made in honor of Harding, under whose administration work had commenced.
Borglum designed the coin, which was repeatedly rejected by the Commission of Fine Arts. All reference to Harding was removed from the design by order of President Calvin Coolidge.
The Association sponsored extensive sales efforts for the coin
throughout the South, though these were hurt by the firing of Borglum in
1925, which alienated many of his supporters, including the
.
A 1928 audit of the fundraising showed excessive expenses and misuse of
money, and construction ground to a halt the same year—a scaled-down
sculpture was eventually completed in 1970. Due to the large quantities
issued—over a million remain extant—the Stone Mountain Memorial half
dollar remains inexpensive compared with other U.S. commemoratives.
Background
The first European-descended settlers inhabited the land around Stone Mountain, Georgia,
today in the east Atlanta suburbs, around 1790. They called the large
outcropping, about 2 miles (3.2 km) long and 1,686 feet (514 m) high,
"Rock Mountain". Rev. Adrel Sherwood of Macon, Georgia,
first named it Stone Mountain in 1825. The town of New Gibraltar was
founded nearby in 1839; its name would be changed to Stone Mountain by
the Georgia Legislature in 1947. From about the time of the American Civil War, the mountain was used as a quarry; this would not entirely cease until the 1970's.
John Gutzon de la mothe Borglum (usually called
Gutzon Borglum), was born in Idaho Territory in 1867, to one of several wives of a Dane who had converted to Mormonism. As a boy, Borglum lived in various places in the Far West. Turning to art as a career, he attended the San Francisco Art Academy, the Académie Julian, and the École des Beaux-Arts. Greatly influenced by Rodin, whom he met, Borglum switched from painting to sculpture in 1901. His
Mares of Diomedes won a gold medal at the 1904 Louisiana Purchase Exposition in St. Louis, and became the first work of sculpture to be purchased by the Metropolitan Museum of Art.
Inception
In 1914, editor John Temple Graves wrote in the
Atlanta Georgian, suggesting the establishment of a memorial to Confederate
General Robert E. Lee on Stone Mountain,
"from this godlike eminence let our Confederate hero calmly look history and the future in the face!"
Others who called for the establishment of a Confederate memorial there
included William H. Terrell, an Atlanta attorney who believed that
while the North had spent millions of dollars on monuments to the Union,
the South had not sufficiently honored Confederate heroes. Also active
in the early days of the Stone Mountain proposal was Helen Plane
(1829–1925), who had been a belle from Atlanta before the war, and whose
husband had given his life at the Battle of Antietam in 1862. She devoted the remainder of her life to preserving the memory of the Southern cause.
The following year, the release of the film
The Birth of a Nation sparked increased interest in the Confederate cause in the South. Plane, who was lifetime honorary president of the Georgia organization of the United Daughters of the Confederacy
(UDC), asked Borglum to carve the image of General Lee on the mountain.
The Stone Mountain project was initially a UDC endeavor.
Officials originally contemplated a monument of perhaps 20 feet (6.1 m)
by 20 feet (6.1 m). Putting that on Stone Mountain, Borglum supposedly
stated, would be like putting a postage stamp on a barn. He proposed a
much larger sculpture, 200 feet (61 m) high and 1,300 feet (400 m) long,
and drew up plans in his Stamford, Connecticut, studio.
He envisioned a huge depiction of the Confederate army, including
artillery and infantry, as well as 65 Confederate generals, five to be
nominated by the governor of each Southern state.
In 1917, the Stone Mountain Confederate Monumental Association (the
Association) was founded to publicize and raise funds for a colossal
sculpture at Stone Mountain.
Samuel H. Venable and his family, owners of the land, agreed to deed it
over for a monument, on condition that if the project was not completed
in 12 years, title would revert to them. A formal dedication took place
in May 1916; the preliminary work was interrupted by the US entry into World War I in 1917. Another organization which took an interest in the Stone Mountain work was the recently revived Ku Klux Klan,
of which both Venable and Borglum were members. The Klan, through much
of the 20th century, held regular encampments on or near Stone Mountain. Plane, in a 1915 letter to Borglum, stated that the original Klan had saved the South from "Negro domination" in the Reconstruction era, and suggested that the design include a small group of Klansmen in robes, seen in the distance, approaching.
Beginning in 1920, the project slowly came under the control of
Atlanta businessmen, brought in to aid with the massive fundraising, and
the UDC became marginalized.
The work on the sculpture resumed on June 18, 1923, when Borglum began
carving Lee's figure into the mountainside; he planned for General Stonewall Jackson and Confederate President Jefferson Davis
to be close by Lee. Borglum's plans were for a huge sculpture depicting
the Confederates, a memorial hall hewn from the granite at the base of
the mountain in which artworks and artifacts could be displayed (as well
as rolls of honor listing the contributors) and a giant amphitheater
nearby. He estimated the total cost at $3.5 million. Instead, the scope
of the project was scaled back, though different sources give varying
cost estimates and dimensions. Borglum signed a contract to complete the
group of Lee, Jackson, and Davis within three years for $250,000.
The work was expensive and by November 1923, the Association decided
to advocate for a commemorative coin which it could buy from the
government at face value and sell at a premium as a fundraiser.
Two men each sought credit for coming up with the idea for a coin.
Daniel W. Webb, executive secretary of the Association, said he had
thought of it after finding an Alabama Centennial half dollar at home; journalist Harry Stillwell Edwards made a similar claim and apparently collected a reward from the Association.
Borglum's design for Stone Mountain
On November 16, 1923, Edwards wrote to Bascom Slemp, secretary to President Calvin Coolidge (the previous president, Warren G. Harding,
had recently died). Edwards arranged a meeting between the President
and himself, association president Hollins N. Randolph (an Atlanta
lawyer and direct descendant of early president Thomas Jefferson), and Borglum. President Coolidge agreed to support authorizing legislation for a Stone Mountain coin.
Borglum later stated that the Association asked him to write to
people in Washington because of his contacts in the Republican Coolidge
administration. He wrote to the powerful Republican Massachusetts senator, Henry Cabot Lodge,
urging him to support legislation for a Stone Mountain commemorative
coin; the appeal apparently worked, as late in 1923 the committee
chairmen having jurisdiction over coinage, Reed Smoot in the Senate and Louis Thomas McFadden
in the House of Representatives, introduced legislation for a Stone
Mountain Memorial half dollar. McFadden later wrote that he sponsored
the legislation because of his friendship with Borglum. With the threat
of sectional opposition if the coin only honored the South, the bill's
sponsors included language making the new half dollar also in memory of
the recently deceased Harding (an Ohioan), during whose presidency the
renewed work had begun. The bill passed by unanimous consent in the House on March 6, 1924, and in the Senate five days later; Coolidge signed it on March 17. The bill authorizing the coin read:
Be it enacted by the Senate and House of Representatives of the
United States of America in Congress assembled, That in commemoration of
the commencement on June 18, 1923, of the work of carving on Stone
Mountain, in the State of Georgia, a monument to the valor of the
soldiers of the South, which was the inspiration of their sons and
daughters and grandsons and granddaughters in the Spanish-American and
World Wars, and in memory of Warren G. Harding, President of the United
States of America, in whose administration the work was begun ...
Preparation and design
Illustration of the Children's Founders Roll medal from the application form
Borglum was busy between the passage of the bill and the end of May
1924, first working on the Children's Founders Roll medal, and then the
half dollar. The Children's Founders Roll was open to white children up
to the age of 18 who contributed one dollar to the building of the
monument. Borglum must still have been fine-tuning the monument's
design; Jackson's posture on the medal differs from that on the coin.
Unlike the issued coin, Borglum's models showed the front part of
Davis's horse, although the Confederate president is unseen, and
marching soldiers appear in the background. Borglum met with Treasury Secretary Andrew Mellon who questioned first why
"In God We Trust"
appeared directly over Lee's head; Borglum responded that it was to pay
tribute to the Confederates' faith. Mellon then asked what the thirteen
stars on the obverse represented; Borglum replied that those on the
north side of the Mason-Dixon Line
could consider them to represent the thirteen original colonies (those
south of it, the implication was, could consider them to be a tribute to
the Southern states). Mellon laughed and gave preliminary approval. On July 2, Mellon showed the designs to President Coolidge; they were then sent to the Commission of Fine Arts for its members' opinions.
Borglum's original models for the half dollar
According to numismatists William D. Hyder and R.W. Colbert,
"Borglum, to put it mildly, was a temperamental artist who managed to
offend most everyone with whom he worked".
They note that "Borglum's past insolence had not left him in the good
graces of the art community" and his designs met a hostile reception at
the commission. Sculptor member James Earle Fraser, designer of the Buffalo nickel,
rejected Borglum's initial design on July 22, eight days after they
were received. The inscription on the reverse included a tribute to
Harding; Fraser deemed it inartistic. Borglum submitted a second set on
August 14, this was again rejected; the commission criticized the
design, which seemed to be only a segment of a larger one, rather than
specifically designed to fit a half dollar. Borglum wanted to ignore
what he deemed "damn fool suggestions", but the Association threatened
to fire him if he did not complete the coin. Borglum was concerned the
reverse was still too crowded, and proposed leaving off the eagle, but space was saved when Coolidge did not like the reference to Harding, and it was omitted. With the eagle still in place on the reverse, Fraser finally approved the designs on October 10, 1924. In all, Borglum made nine plaster models for the design.
Even though all necessary approvals had been received, the Philadelphia Mint
refused to proceed with preparations because of the lack of the mention
of Harding, which it believed was congressionally mandated. Borglum
wired Coolidge on October 31, notifying him of the problem; the
President confirmed his approval of the design the following day. Despite the support of the federal government for the coin, the Grand Army of the Republic (GAR), an organization of Union
Civil War veterans, tried to prevent the issuance of a coin they
believed honored treason by lobbying in late 1924 and early 1925.
Work on the sculpture slowed (the head of Jackson was then being
carved) because of the sculptor being distracted by designing the coin,
flaws in the rock on Stone Mountain, and the fact that the Association
had ceased fundraising efforts in anticipation of a campaign to sell the
coin. Revenues from the medal were not sufficient to meet expenses.
The obverse of the half dollar depicts Confederate generals Lee and
Jackson, the latter with head bare, mounted on horseback. Although both
Lee and Jackson were respected in the North, Davis would not have been
acceptable on a federal coin, and he was omitted, although he appears on
the Children's Founders Roll medal which Borglum adapted for the
obverse of the half dollar.
There are thirteen stars in the upper field of the obverse; they
represent the thirteen states which either joined the Confederacy or had
Confederate factions. Borglum's initials, "GB", are found on the
extreme right of the piece, near the horses' tails. The reverse depicts
an eagle with wings stretched, representative of liberty, perched upon a
mountaintop. There are 35 stars in the field, supposedly to represent
the number of states at the start of the Civil War, although there were
in fact 34 in 1861, and there were 35 states only from 1863 to 1864,
between the admissions of West Virginia and Nevada.
Art historian Cornelius Vermeule,
writing in 1971, noted that the half dollar represents an unusual
circumstance in American art, where a designer uses a coin as a
bozzetto
or small-scale model of a work to be completed. Vermeule considered the
children's medal a better work of art, due to the inclusion of Davis.
He believed that Borglum's original design, before its rejection by the
Commission of Fine Arts, was superior, as it included a sense of motion
through the depiction of marching soldiers in the background, balanced
by the inclusion of the head of Davis's horse, though the rebel
president himself is unseen. According to Vermeule, the original design
"would have made a magnificent coin, an unusual compression of
monumentality and power into a limited and unorthodox historical space".
Production and conflict
Borglum at the White House, 1924
The Medallic Art Company of New York converted Borglum's models to coinage dies. The first 1,000 Stone Mountain Memorial half dollars were struck on a medal press at the Philadelphia Mint
on January 21, 1925, the 101st anniversary of General Jackson's birth;
Borglum and officials of the Association were present. The first piece
struck was mounted on a plate made of gold mined in Georgia for
presentation to President Coolidge. The second was mounted on a silver plaque, and presented to Secretary Mellon.
The remainder of the first thousand were placed in numbered envelopes;
some were presented to officials or those involved in the Stone Mountain
project.
Between January and March 1925, that mint struck 2,310,000 of the
authorized mintage of five million, plus 4,709 pieces reserved for
inspection by the 1926 Assay Commission.
Except for the first thousand, for which Randolph paid in gold, the
pieces were sent to the Federal Reserve Bank in Atlanta, which advanced
the funds to purchase them from the government.
Although the Association unveiled the completed head of Lee on
January 19, 1924 (the general's birthday), within months, relations
between itself and Borglum had become strained. Technical problems over
the medal and the work on the mountain caused tensions, and political
differences between Borglum, a Republican, and Randolph, an active
Democrat, led to poor relations between the two. Borglum, Venable, and
Randolph backed different KKK members for national leadership.
Both Borglum and the Association accused each other of graft; the
sculptor proposed that he form a syndicate to purchase the half dollars
from the Mint and sell them with the profits to be applied directly to
construction costs. Randolph ridiculed the suggestion, stating that it
would allow Borglum to carve "whatever he pleased on the mountain". Borglum accused Randolph of using donations for his own benefit, and spending freely on an expense account. These dissensions became public, and in February 1925, the Association fired Borglum.
Randolph stated, as one reason for dismissing the sculptor, that
Borglum had taken seven months to design the coin, when, he said, any
competent artist could have done it in three weeks. He accused Borglum of delaying so that the Association would be embarrassed.
According to Freeman, "despite all the points of conflict between
Borglum and the committee, it was actually the commemorative coin that
ended his career at Stone Mountain."
Upon being dismissed, Borglum wrecked his models for the monument;
the Association sought to have him jailed for destruction of property.
Borglum was addressing the ladies of the Atlanta chapter of the UDC
when his assistant, Jesse Tucker, burst in and hurried him out the door
with a minimum of explanation, only moments before a sheriff's deputy
arrived to serve the warrant. He left the state, but was arrested in Greensboro, North Carolina, though quickly allowed bail, and the Association abandoned extradition proceedings. Freed, the sculptor soon took up a project in South Dakota, Mount Rushmore.
The publicity surrounding these events hurt the Association's
fundraising, as did allegations that the Association had misused
hundreds of thousands of dollars put aside for the project.
Marketing and distribution
The Association hired Augustus H. Lukeman as replacement sculptor; all of Borglum's work was eventually blasted away.
Despite the dispute with Borglum, the Association proceeded to market
the half dollars; it hired New York publicist Harvey Hill to run the
campaign.
The Association hoped for the opportunity to present the first coin to
President Coolidge in person as a means of overcoming the bad publicity;
White House officials warily declined, writing that "no good purpose
would be served by a formal presentation". The half dollars were officially released on July 3, 1925 (though some were displayed as early as May); they were sold at a price of one dollar. They were sent to 3,000 banks by the Federal Reserve, with the proceeds from sales credited to the Association. White Southerners applauded the piece as symbolizing sectional
reconciliation, the federal government paying homage to its Confederate
heritage.
The coins were to be distributed through banks, and the Federal
Reserve System cooperated by moving coins as needed, though at the
Association's expense. The Association set up local affiliates, with
organizations throughout the South, as well as Oklahoma and the District
of Columbia. Each state's governor served as nominal head of the
organization within his jurisdiction; on July 20, 1925, at a meeting of
the Conference of Southern Governors
called for the purpose, they (or their representatives) resolved that
the Association allocate sales quotas among the states on the "basis of
white population and bank deposits".
The pieces were to be sold at the price of one dollar, and local
organizations were to generate promotions for selling them. The overall
drive to sell half dollars was dubbed the "Harvest Campaign" and began with the governors' meeting in July 1925. Georgia Governor Clifford Walker
told his colleagues that the "South would be eternally disgraced if it
failed to accept the challenge" of meeting the sales goal of 2,500,000
coins; nevertheless, the governors devoted little time to the campaign.
Although volunteer enthusiasm was essential to the Association's
plans in the Harvest Campaign, it did not rely on it at the higher
levels; the state chairs were compensated, both by salary and
commission. J.W. Gibbes, clerk of the South Carolina House of Representatives,
was hired as that state's executive director; he undertook to sell
100,000 coins and received just under $3,500 in salary and commissions,
all paid in 1926. Local volunteers organized Chamber of Commerce
luncheons to sell coins throughout the South; chapters of the UDC
purchased pieces to present to surviving Civil War veterans.
Mrs. N. Burton Bass of Atlanta was reported to be the leading seller,
once disposing of 233 coins in an afternoon. A series of dance balls
honored the UDC members who sold large numbers of pieces. Nevertheless,
Hyder and Colbert suggested that there was "a general lack of more
ladies such as Mrs. Bass"; many municipalities had trouble finding local
chairs. Outside the South, sales were promoted by three professional publicists hired by the Association.
To keep public interest high, the Association released Lukeman's
conceptions for Stone Mountain, which were on a smaller scale than
Borglum's. Lukeman conceived a scaled-down concept, of the three Confederate leaders on horseback. Despite the campaign, sales were slower than expected.
In late 1925, the Association offered Northern banks a commission of
seven cents a coin; it is uncertain if any took up the offer. The continuing opposition of the GAR to the coins dampened sales in the North.
One means of fundraising that Harvest Campaign administrators decided on was to counterstamp
some of the coins for sale at premium prices. The letters and numbers
are believed to have been punched by the Association, as they are almost
entirely uniform. Some were given a state abbreviation and a number,
and were sent to be auctioned in various towns. Gibbes reported that the
counterstamped pieces sent to South Carolina sold for an average of
$23, ranging from $10 to $110, and recommended that the auctions be
preceded with the account of the sale of one in Bradenton, Florida for $1,300.
Which town got which number was the luck of the draw.
Others were marked with "U.D.C." and a state abbreviation, together
with a number which probably represents a membership or chapter number.
These were intended for presentation to members deserving of special
honor, such as an outgoing president. They did not sell well, as the
Association had alienated many UDC members over the firing of Borglum.
The Association also announced a program for sale to the Sons of Confederate Veterans, although whether any coins were sold under this program is unclear, as none have been identified.
Pieces marked "G.L." and "S.L." were puzzled over by collectors for
many years; A. Steve Deitert in the January 2011 edition of
The Numismatist
identified the markings as "Gold Lavalier" and "Silver Lavalier". These
coins were given to county winners and runners-up in a selling
competition for young ladies.
The Association sold coins through other means. They asked companies to purchase them: the Baltimore & Ohio Railroad, the Southern Fireman's Fund Insurance Company, the Coca-Cola Company, and a number of banks, purchased thousands of pieces, many of which were given away as promotions. Those outside the South could obtain coins by orders passed through local banks.
The Association called an end to the Harvest Campaign as of March 31,
1926, most likely because the sales did not justify the continued
salary expenses. Coins remaining at banks were to be sent to the Federal
Reserve, and any credit balances remitted to the Association.
Thereafter, coins were available either through the Association or the
Federal Reserve at an increased price of $2. With a price increase and
the end to the campaign, sales plummeted. Total sales from the Harvest
Campaign were about 430,000 pieces. One exception to the drop in sales
was a drive in New York under the sponsorship of Mayor Jimmy Walker, which succeeded in selling 250,000 coins in 1926, though at the original price of one dollar. Bernard Baruch,
then a prominent investor and later a counselor of presidents, was
honorary chairman of the organizing committee, and personally subscribed
for some of the pieces.
Aftermath
Card accompanying half dollars formerly owned by Bernard Baruch
The Atlanta chapter of the UDC in 1927 published a brochure accusing
the Association of wrongfully firing Borglum and wasting between a
quarter and a half million dollars.
An audit of the Association's books was performed in 1928; the
examiners found its records in good order, excepting those regarding the
Harvest Campaign, which were inadequate. The audit found that for every
three dollars of revenue brought in from the half dollars, two were
paid out in expenses, a ratio Hyder and Colbert called "incredible". Of the total sum raised by the Association, only 27 cents of each dollar went to the carving. Venable stated that the Stone Mountain monument had "developed into the most colossal failure in history".
The Association was discredited by the results of the audit; the
Georgia Senate voted to accuse it of gross mismanagement of funds.
Randolph resigned when Venable made it clear he would not negotiate an
extension of the twelve-year deadline unless he did. The Atlanta lawyer
had begun a political career; the scandal finished it. With funds drying
up, the Association stopped work on Stone Mountain on May 31, 1928, and
when negotiations failed, the Venable family successfully sued to
regain the property. Borglum was now a folk hero in Atlanta; he was
called upon to return to Stone Mountain in the early 1930s, but busy
with Mount Rushmore, he did not. At the time of Borglum's death in 1941,
no work was being done on Stone Mountain. The State of Georgia voted
funds to purchase Stone Mountain in 1958 and five years later selected Walker Kirkland Hancock
as architect. The sculpture, which depicts Lee, Jackson and Davis, and
bears only a resemblance to Borglum's original design, was dedicated in
1970. At 90 feet (27 m) by 190 feet (58 m), it is the largest relief sculpture in the world.
In 1930, Secretary Mellon reported that although no Stone Mountain
Memorial half dollars were held by the Mint, it was his understanding
that large quantities of the piece were in the possession of banks.
Eventually, arrangements were made to return a million half dollars to
the Mint for melting. In spite of this, the State of Georgia still had
Stone Mountain half dollars for sale at its exhibit at the 1933 Century of Progress Exposition. Many more were dumped into circulation in the 1930's.
A quantity of half dollars once owned by Baruch were sold for $3.25
each through a Georgia bank in the 1950's to finance a building in honor
of Baruch's mother, a Southerner, in Richmond, Virginia. A total of 1,314,709 Stone Mountain Memorial half dollars were distributed, after deducting those pieces melted.
Due to the large quantities extant, Stone Mountain Memorial half
dollars remain inexpensive in comparison with other commemoratives. The
2014 edition of
A Guide Book of United States Coins lists the piece at $65 in Almost Uncirculated condition (AU-50) with pieces in near-pristine MS-66 at $335.
External Links
A Guide Book of United States Coins
Augustus H. Lukeman
Assay Commission
Philadelphia Mint
Source: Internet
