Saint Mary's beacon. [volume] (Leonard Town, Md.) 1867-1983, 1878-03-15


The following Is The history Of the
"dollsr" in this eouairy from lie es,sb-
lishment by the Colonial Government
TO- the present times ~
The Congress Of the Confederation
BY oct passed August 9Th, 1776. and Or
dinance passed October 18th. 1855, au-
thoFised and established as "the unit Of
account" q silver dollar 10 contain
375 "a grains Of pure silver. bot none
Of these coins were ever made. frsa
The Constitution Of the Uasted States
was adopted September 17th, 1857.
On the subject of money il provides as
follows: Congress shall have power
20 coin money and requisite the value
thereof, and Of foreign coin" also that
"no State shall coin money, emit bills
ofcredit. or make anything but gold and
silver coins . tender in payment Of
debts" thereby plainly re,erving this
latter right 70. Congress. :, ,@..,.....
Now commences the history Of the
Dollar under the present Government.
The act Of April 2. 1792, provides for
"dollars, or units" which shall contain
3S1 25 grains Of pure, or 4l6 grains OF
standard silver. u also declaxeauAhaiI
every fifteen pounds Of pure Silt, shsif
be OF eqcal value in eli payments with
one pound Of pure gold. that the money
oi account in The United States shali be
expressed in dollars, or units and dec
imals" thereof. u creates gold coins.
which are enumerated ~ follows: Ea-
gles, hall eagles. and quarter eagles. the
value Of which Il expresses In ''dollars
or units" II does not provide for o
geld dollar.
The act Of February 0th, 1893. de.
clares that all foreign coins except Span.
ish milled dollars shall cease 10 be Q le.
gal tender.
The act Of April 10, 1909. establishes
rates at which certain foreign gold and
silver coins, shall pass current ~ mon.
ey aud be- legal tender fos the pay.
meat or debts. he4 1cfils ID sts i. 57e155
y The oct of June a5, 1854. makes the
silver dollars cf Mexiee, Peru. Chill,
and Ceutrsl America, Q legal tender.
-skea weighing 4iS grains each. ''sr =
The act of Jauuary 10, 1887, pro-
'vides that "The standard for both gold
and silver coins Of the Omitted States
shall hereafter be such that Of one
Thousand parts by weight nHne hundred
shsil be Of pure metal, and one hun
dred Of alloy, end alloy Of silver coins
shall be OF copper aud silver, provided
that the silver do not exceed one-half
the alloy." Il then fxes the weight Of.
the silver dollar at 412 1.2 grains 800
fine, and the subsidiary silver coins.
from dollars 30 hall dimes shall Be legal
tenders of payment aecording- TO their
nominal value for any sam whatever.
after which ID makes the same prosis-
ion respecting the gold eagle. half ea-
gle. quarter eagle. that they shall be
legal tender Tor all sums.
The act Of March :. 1sl9, provided
Tor The FIRST coinage Of two new gold
coins, she double eagles and the gold
dollar, both 10 be legal tender for al
sums, and 10 be Of the respective vslue
Of .tWenty dollars OF units. and ''one
dollar OF units." This i the 6rst gold
dollar.
The aes of March ., 1851, created =
new silver coin % be of the legal value
Of three cents, aud 70 be legal tender
for eli sums of thirty cents and under.
The ace og February 90, 1883, re.
daces the weight of the subsidiary 81
YER coins from the half dollars down.
and linits their legal tender fanetica
10 sums net exceeding Eve dollars. %
also creates new ecid coin, 20 be Of
the value Of s'thres dollars, or units. %
The act of February %. 1851. fepesls
all former acts which made ioreign gold
and silver eoin legal tender.
The act of April ., 1854. makes the
one cent cola Q legal tender 10 the
amoant Of Zen cents. snd the two cent
cola fos twenty eeats go tassalif !.
The sct Of March3. 1855. prOsides
for u three cent piece Aof copper and
nickle, whish shall 'es q lsxal tender
20 The amount of sixty cents. and lim-
its The legal-tender fenction Uf the one
and two cent pieces not exceedsng icnE
cents.
The aet of May r6, fe6e. efeases .
| Eve ermt coin uf nickle and eopper. and