Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1877-07-26
History Of Silver Coinage

So much is being said upon the
subject, our silver coin, that the
following will be read with interest:
The National Coinage Act was
approved April 2, 1892, and provided
for the emission of gold, silver and
copper coins. Copper was first
issued in 1893, silver in 1894 and
gold in 1895. Up TO 1888 all coins
were struck off at the Philadelphia
mint. In 1885, branches of that
mint were established in New Orleans,
La; Charlotte, N. G; and Dahlone-
ga, GA. In 1854 branch mint was
established in San Francisco, snd in
1870, another at Carson. Gov
eminent assay Offices were also estao
lished 10 1854 at New York: in 1864
at Denver. and in 1872 at Boise City.
Coinage operations at the branch
mints Of New Orleans, Charlotte
and Dahlonega ceased in 1861, at
the outbreak of the rebellion, and
have never been resumed. In 1873,
the term branch mint was abolished.
and "the mint Of the United States"
substituted in each case. No silver
was ever coined at the Charlotte and
Dahlonega mint, and only small gold
was emitted from these institutions.
Tho total coinage of the Southern
minis to January -, 1862, was as
follows:
New Orleans Mint
Sl0, Jas, $40 ~
29764, 353-$69,9i 3,O9S
5olS ,652-- 5O1s,e52
Dahlonega Mint
Totals .ss1 ,O77.e74 sSl,O77,e74
The gold coinage at the Charlotte
and Dahlonega minis was confined
to half eagles, three dollars, quarter
eagles and dollar pieces, tbout 80 per
cent of the whole amount being in
halt eagles. The act of 1892, made
silver coins to contain 371i grains
of pure silver to the dollar or unit.
by an act Of January Is, 1887, the
metal used in silver coins was re-
duced to 900 fine. By this operation
the number of grains in Silver coins
was increased to 4121 grains, equal
to 3714 grains. 1000 fine. By an
act of February 81, 1853, all silver
coins less than the dollar were pur-
posely overvalued by reducing the
number of grains to 1884 grains. The
act of February II, 1873 changed
the standard of subsidiary silver coin
to 3S5. s grains 900 fine to the dollar,
and demonetized the dollar of 412
grains. Up to 1853, all silver coins
were full legal tenders for any
amount, and the same rule applied
to the dollar while it remained in
existence The limited amount of
silver coin then in circulation, and
its equal value with gold made such
a condition of things satisfactory to
both debtor and creditor. The de-
basement of oil silver coins below
the dollar in 1853, was necessary
to keep such denomination of coin in
circulation. To provide against any
depreciation in silver and the unfair
use of such coin, Government re.
stricted tho legal tender limit of sub.
sidiary silver to five dollars in one
paym and reserved the right to
issue such silver only in exchange
for gold, dollar for dollar. The act
of February, 1873, provided for the
issue of what is known as the trade
dollar of APO grains, 900 fine, to be
coined in exchange for fine silver
aad on private account. The next
depreciation in silver 10 1875 made
it necessary to Introduce an amend
ment to the act, combining the coin
age OF trade dollars to fill orders for
export only. Very crSde notions
exist ss to the functions of the sill
yer dollar, 412l grains, 900 fine.
Very few of the coins have entered
so little into circulation. The exer
cution of these coins was confined
to The MINIS at Philadelphia, New
OrIaons San Francisco and Carson