The Rutland daily globe. [volume] (Rutland, Vt.) 1873-1877, 1877-08-06
Chr 8atIana daily Slohe
MONDAY, AUGUST 0, 1877.
SILVER COINAGE OF THE UNITED
STATES.

In considering the silver question, we
have frequently had occasion to say that
the coinage act of 1878, by which 1t is
claimed that silver was "demonetized,"
worked no substantial injury to tue coun-
try, or to any class of the people, and that,
therefore, the demand for its remonetiza-
ton was more of matter of sentiment,
than of practical Importance. This we
have endeavored to show by a reference to
the difference between the law Of 1858 aud
1878, and by the fact that, under the law
of 1858, the coinage of the silver dollar
practically ceased. In response to hume
rous enquiries, aud in compliance with the
request of several of our readers, we will
endeavor TO make this a little clearer by
reference to the several laws authorizing
the coinage of silver and making 1t legal
tender-and we will endeavor to be as
brief as possible.
The dollar was established by a resolu-
ton of the congress of the confederation
July 6, l785-before the adoption of the
conatitution-and was made the money
unit of the United States, and was origin
ally represented by silver piece, the coin
age of which was authorized by resolu-
ton, or law, of congress-, August 8, 1855.
Under this act, however, no money was
coined, and it was not until after the act
of April 2, 1902, establishing mint, that
any coinage was effected; and the fret
dollars were coined in 1904 The law pro.
vded for the coinage of "dollars or units,
each 10 be of the value of Spanish milled
" dollars, as the same were then current,
and to contain three hundred and seven-
"ty-one grains and four-sixteenths part Of
"a grain of pure silver, or four hundred
and sixteen grains of standard silver"
The Spanish dollar known to our legisla-
ton, 1t IS proper to say, was the dollar
coined in Spanish America and was album
dant in our currency, and the term was
used in contrsdstinction to the dollar COIN
ed In Spain, which was rarely seen in this
country. The weight and flneness of the
"Spanish milled dollar was eight and one
half pieces to Castilisn "mark, A" or nearly
four hundred and eighteen grains Troy. In
the law of 1906, the weight and fneness Of
our silver dollar was reduced to four hun
dred and fifteen grains, so as to meet the
loss by wear and abrasion and still keep 1t
of the came value with the ordinary Spanish
milled dollar in circulation in the United
States. From 1902 to 1886, the standard
fneness of United States silver coins was
fourteen hundred and eighty-five parts of
pure silver in sixteen hundred and sixty
four parts of the whole COIN so that coin
weighing four hundred and fourteen grains
the weight of the Spanish milled dollar
called for in many an ancient contract
would contain about three hundred and
sixty-nine and one-halfgr OF pure silver.
In 1887, the weight of the silver dollar
was again reduced, and it was provided
that thereafter it should weigh four humid.
red and twelve and a half grains, and thai
of one thousand parts by weight nine hund
red should be of pure metal and one humid
red parts OF copper. And since that time
the weight and fineness of the dollar haI
not been altered, although that of the lesser
coins has been, but, as must be remem
bered, its coinage has entirely ceased-tha
Ia to say, it has been demontized.
The act If 1902, before referred to, pro
vided for the coinage of half dollars, quar-
ter dollars, "dismes" and half "dismes," Il
be respectively one-half, ope-quartcr, one
tenth, and one-twentieth the value of tn
A1ll nnff ha hal AOll 20
tain one hundred and eighty -four grain
and ten-sixteenth parts of grain of pure
silver, or two hundred and eight grains o
standard silyer-the fineness being 500
thousandths of pure silver. The small coin
were of the same fneness and of propoi
tionate value. In 1887, tho weight an
fneness of the silver coins were changed
the weight of the half dollar being place
at two hundred and six and one-quarte
grains and It's fneness nine hundred part
of pure silver to one hundred parts of cor
per--thus making it correspond with th
hneness of the Coinage Of France and moi
other nations. But, under this act as III
der that of 1909, the relative weight an
1reness, and, consequently, value, Of II
dollar. half dollar, dime and half. din
was preserved, so that two half dollar
four quarters, ten dimes, or twenty ha
dimes were Of exactly the same value
one silver dollar.
BY the act of congress of February Q
1853, a radical change was made In Il
weight of the silver money-the finsne
still remaining the same as under the act
1887. The silver dollar, however, remain,
unaltered, 1t still being of the weight
-four hundred and twelve and half grain