The Jasper weekly courier. [volume] (Jasper, Ind.) 1858-1922, 1878-02-08
THE UNIT or VALUE.
History Of the Legal American y
Dollar from f776 to 187S--
The Gold Dollar Born Ia
1879.

si' ioiiuNiH iHe ~ iue HISTORY OIL tnf
)l"dollar' in this country from its estab
} Ilislncnt by the Colonial Government tt
the present time:
The Congress Of ihc Confederation
'lby act passed Aug. 3. 1876. ana ordi.
nance passed Oct. l6 1916, authorized
and established as s'ihe unit Of account
a silver dollar, 10 consist OF 375.6f grain.
Iof pure silver. hut none Of these coin.
Were ever made.
The constitution Of the United States
was adopted Sept. II, 1887. On the
subject OF money II provides as follows
.l"Congress shall have power 10 coin
mone, aud regulate the value thereof
and OF foreign coin !" also. that ''no state
shall coin money. emit bills Of credit. or
make anything but gold aud silver coins
tender ~ payments OF debts" fhereb,
plainly rcserving this latter right 10
Congress.
Now commences the history Of the
dollar under The present Government:
Tie act Of April 2. l7a2. provides fnr1
l"doIIars. or units" which shall contain
81 o.. 3 grains OF pure, or 4i6 grains of
standard silver. II also declares that
every fifteen pounds weight of pure sill
YER shall he Of equal value in all paw
menis with one pound weight Of pnre|
gn'd that the money Of account in thcl
United States shall be expressed in dol
hrs ~ uniis" ana dcrimi!s thereof li
rrcair- gold coins. which are enumerated
y follows: ~ glcs. half eagles and
anar'rr rsgles. the value of which ID ex.
presses va dollars ~ uniiS.- IL does
nus nroyi!c Tor a gold dollar.
The ~ of Feb =. l7s3. declares thar
all foreign ccins. except Spani>h milledl
dr'lri'~. shall cease 10 lpe iryal tender.
iur rfi or April ~. 1905. establishes
rates ~ y llich certain foreign gold and
SiiNrf r"ins shal' las~ current rs money!
AMI be 4 legal tender tor the payment o.
hrtf>.
T'he acf Of Janc q. 1894. makes Tho
silver dollar 81 Mexico. l., ru. Chill and
Lrnirfll Amciiri legal tender when
fI5 grains each.
i ~ aci of Ian. is 1887. provides thad
THE standard fpr both gold and silver
rvir> Of The United States shall here.
i''er bc such that of l.OJ0 parts h,
"clHht 'Oy shall be pure metal, aud l0p
n'allnv. md tie alloy Of silver CONS
'slill ~ ~ com cr. aud ihc alloy OF ihel
spli rniiis shall be D. copper and silver:
i'ovi1ed ilnl The silver 10 not cxceedlo
'nr-halt The alloy" II then fixes ,hcIlj
a"igllt of tie silver dollar II 4i2g grains N
n q iiltc. nill subsidiary silver coins i,,l,,
'roporiions. 10 wit. dime Al grain. n
I then declares that all the silver coin. Il
rom dollars ~ halt-dimes. shall be Legal h
enders Of payment according 10 theirp
value Tor any sums whatcvcrb
liter which u makes The same PROVISIONS
rsrccfing the gold eagle. hali-cagle anln
that they shall be Il IeQal-,
endcr for all sums. IN
The aci Of March 3. ls49, provided Cor
lie first coinage OF two new coins thelJ,
ouble eagle and the GOLD DOLLAR. bothhy
? bc legal fender Tor All sums. and ,oel
e oi the respective value of 'twcntvlm
ollars. or init. snd lone dollar. Of
nit.' This j. The tirsr gold dollar.
The act Of March 3. 1851. created al6.
CIV silver coin. 70 be Of the legal tcndc, !.
aloe 81 cents. and 70 Be a legal tender
y MI suns OF 80 cents aud under. u,
The act Of Feb. p 1853, reduces thcl>I
eight Of the subsidiary silver coins
'um the hsIt-doIlars down. and limitsto
leir legal tender functions to sums M,
$5. II also creates a new goldw
Din. 70 be Of the value Of three dollars. "a
+ units" m,
The aci Of Feb. 2l. 1857. rcpcals al
'rmer acts which made foreign cold orro
ivrr coin a legal tender.
Tie act Of April -. 1854, makes lie
cent coin q legal tender To The amoun,m
10 cents, and the 2-ccnt coin for 2oI
nis. h,
The net Of March 3. 1865. provides FOR
Scent piece OF copper and nicklc ~
hich shall be legal tender 10 thevc
Mount Of cent. aud limits the lcyadr
ndcr functions Of the aud 2-ccntga
cccs 10 sums not exceeding cents. Nh,
The act Of MAY 10. 1866, creates a 5.pla
NJ coin Of nickle and copper, and
axes il a legal tender to the amount
81. ,
The act Of March 8. 1871, provides ~,
hat the Secretary Of the Treasury isof
qni-rd 70 redeem III lawful money allcal
ppcr. bronze, coppcr-nicke. and base
Nial coinage. Of every kind hitherto ",
tl.ori2ed by law. when presented in,h
ms ~ moi less than 500. ~
The act or Feb. IL. 1873 (commonlv ~,
own a. the Dcmonctizing acD. prn. u,
les that 'ihc gold dollar OF tile United !.
ntc- Of twenty-five and ciglt-tcuths
aims shall be The unit Of value" INK.
,atrs The trade dollars Of 42O grainsI1',''
light. 900 fine; aud changes tho weight, /"
the haf-dollar. quarter-doIlar, and (
me-. ~ use Of the French wordlbu,
ram making the haf-dollar lalou,
'n-, which i said to be about Ieitin