Saturday press. [volume] (Honolulu, H.I.) 1880-1885, 1884-01-05

Page 7oj,
The value u foreign coin as expressed in the
money Of account Of the United States shall be
that Of the pure metal Of such coin Of standard
value and the values of the standard coins
in circulation Of the various nations Of the
world shall I've estimated annually by the
director of the mint and be proclaimed on the
Isl day Of January by the secretary of the
treasury.
Page s79
All duties upon imports shall be collected
in ready money, and shall he paid in coin OF
coin certificates or in United States notes
payable ON demand, authorised to be issued
prior TO the 2sth day OF February, 1902, andby
law receivable in payment Of public dues.
Page 7os.
The gold coins Of The United States shall be
a legal tender in all payments at their nominal
value when not below the standard weight and
limit Of tolerance provided by law for the sin.
gle piece, and, when reduced in weight below
such standard and tolerance shall be a legal
tual weight. The silver coins Of the United
States shall be a legal tender at their nominal
value Tor any amount not exceeding five dol
lars in any one payment. The minor coins d
the United States shall be a legal tender, al
their nominal value for any amount not eS
ceedng twenty-five cents in any one payment.
The Bland Bill approved Feb
ruary 2S, 1873 reads Essentially a,
follows: "Therc shall be coined, at the
several mints OF the United States, sill
yer dollars Of the weight of four hun
dred and twelve and a-half grains troy
of standard silver, as provided in the
act OF January eighteenth, 1897, or
which shall be the devices and super
scriptions provided by said act (r,
which CONS together with all silver dol
lars heretofore coined by the United
States, of like weight and fneness
shall be legal tender, at their nomi
nal value, for all debts and dues public
and private except where otherwise
expressly stipulated in the contract"
The silver certificates of the us,
lhat Is those issued Tor dollars, read as
follows
'fThis cert6es that there have been deposited
with the treasurer of the u. S. at Washington,
payable at his Office TO the bearer on demand,
- silver dollars. ton the back) ;
United States Silver Certificate dollars. "
This certificate is receivable for customs,
taxes and all public dues, and when so re.
ceived may be re.issucd. tThe certificates are
signed by the treasurer and by the register of
the treasury of the United States, and arc
numbered but no, dated.l
The above is printed for the partial
information of some worthy gentlemen
who seem TO he proninp in tbe dark in
their efforts to solve the currency oues-
ton. But those who believe in the
" "double standard" and admire the
system Of the JTnited states unouest;on.
;nolv mnst remember tba, ,lrnadv thore
are more silver doll,rs in ,be iTn;ted
S,otes than can he c;rcrl,ted conve.
nicntlv and os consequence cold is
leaving the countrv ahont os fast ne il
nours in ro,w;thst,pd;no the bolopce
~ troda in favor of tbe ITn;ted States
,s aoainst ali other countries Rut tbe
fact is merely history repeating itself
Gold and silver conno, circulate side Inv
side NJ mar The moor currency IN
voriablv =" drives ont " ,he GOOD In
other words the Moor currency nnr.
chases the GOOD and exports it or to
mi il still another wov. imnorters who
buv in \ pold-currencv market must
shin oold ,o nav for tber Goods LET
MS look at il in another lig6t If cold
commands premium ot American
hanks whether nominallv selling for
mar or no--tbe importer who must
nav cold nu,s the cost of exchanqe on
to the selling price of his goods and
the consumer paws il. If gold be the
standard of value everybody who is
selling to solvent debtors can have gold
when he needs il. So long rs the
balance of trade is in favor Of a coun-
try il can have all the gold il needs.
w
country the sooner it ceases over-impor-
ing the better it will be off. But even
then ii is manifestly better that a coun-
try should pay a premium for gold
something tangible that it can compute
than that IL should suffer the evils Of
a deprecated currency which 1t cannot
use abroad when 1t has balance in its
favor and money to spend The
trouble with this community is that it
does not understand the ABC of f.
nance. We wish we could afford to
publish, chapter by chapter, Graham
McAdam's Alphabet of Finance
'''os' oon,l''sN Vi .noue'n .. subjects nu'
VIC e'iiho' 10 oe''e' 'na'' MAKE one o''e'
Vuota'ion