The progressive farmer. [volume] (Winston, N.C.) 1886-1904, 1892-08-30
COINAGE LAWS OF THE UNITED
STATES--A SUMMARY.

Act of August 8th, 1876, and ordinance
of October 10th, same year, established
the dollar as the unit of value, to con
tain 375, Ga grains of pure silver. Hav-
ing no mint, however, this dollar was
not coined.
The Constitution of the United States
adopted Sept. 18th, 1857, provided
that Congress shall have power to
coin money and fix the value thereof"
etc. An Act of April %, 1892, fixes
the dollar as the unit of value, estab-
fishes a mint, and provides for the coin
age of gold eagles, half eagles, quarter
eagles; silver dollars, half dollars,
quarter dollars, dimes and half dimes;
copper cents and half cents.
This Act fixes the weight Of the gold
| eagle C$1O) at 2475 grains of pure or 27O
| grains of standard gold. This would
make one dollar equal to 244 grains Of
pure or 81 grains of standard gold.
The silver dollars were leach to be Of
the value of a Spanish milled dollar, as
the same is now current, and to contain
3714 grains of pure or 416 grains IF stan
| dard silver" and that the cent should
contain II pennyweights of copper.
The same Act provides that The pro
| portional value Of gold to silver in all
coins which shall, by law, be current
as money within the United States,
shall be as Is to 1 according to weight
- ,,,yx-D Cs1r-r-, 4h04 10 +n CIV nvO4v I :
| pounds weight of pure silver shall be
Of equal value in all payments with
one pound weight of pure gold, " etc.
Act of january IS, 1887, declares that
the standard for both gold and silver
coins in the United States should be of
ten parts, nine parts should be pure and
one part alloy. The alloy of silver
should be copper, and the alloy of gold
should be silver and copper, with not
more than half the alloy silver.
This Act also fixes the weight of the
| gold dollar at 2545 grains, and the
weight Of the silver dollar at 412t
grains.
By this Act all gold and silver coins
were made full legal tender, but you
will see the standard weight of each
was reduced; the gold dollas from 81
to 254 5 grains, and the silver dollar
from 416 to Alp! grains, both nine tenths
pure.
Act Of March Sd, 1919, provides for
minting double eagles $50 gold pieces
and gold dollars, and declares them
full legal tender. 4 I
Act of March Sd, 1851, provides for
the coinage of a 3 cent piece, to be +
silver and I copper, and to weigh 125
| grains. Legal tender for any sum
under 80 cents.
Act of February 21st, 1858: THE
weight Of the half dollar shall be 1872
grains, and the quarter dollar, dime
and half dime shall be respectively one
half, one-ffth, and one-tenth of the
weight Of the half dollar, and be legal
tender for all sums not exceeding S..
This il 384 grains to the dollar, 49,
grains lighter than the standard solid
dollar. This Act provides for coming
"a s. gold piece, full legal tender, and
the 3 cent piece nov authorized shall
be of the weight of three ffteenths Of
the half dollar of this Act, and of same
standard of fneness,"
Act Of February 21st, 1857, changes
weight of the cent to 70 grains, to be
IS per cent. copper, II per cent. nickel
and discontinue coinage of the half
cent.
Act April 22d, 1864, changes weight
of the one-cent. piece to 48 grains,
and makes it IS per cent. copper and
5 per cent. tin and zinc, and authorizes
the coinage Of q 2-cent. piece of same
composition and twice the weight. |
Legal tender to 10 and 20 cents, re
spectively.
March Sd, 1865, authorizes a 3 cent
piece composed Of copper and nickel,
not to exceed2 5 per cent. nickel, weight
to be 80 grains. Legal tender to 60
! cents; 1 and 2-cent pieces legal tender
reduced to 4 cents.
Act of May 10th, 1866, authorizes a
scent piece of copper and nickel, not
to exceed 25 per cent. nickel, standard
weight to be ZIG grains, legal tender
to $1.OO.
Next comes the celebrated Act of
February 18Th, 1878, which provides
"that the gold coins of the United
States shall be a one dollar piece, which,
at the standard weight Of 25 s 10 grains
shall be the unit of value; 50 so piece;
$500 piece, and IS 90 piece, same Of
standard gold, and full legal tender.
THAT the silver coins of the United