Mexico weekly ledger. (Mexico, Mo.) 1855-1956, 1893-08-03
VOL. XXXV.
COINAGE LEGISLATION.
EX.State senator Heast0n Traces the
Development or Silver and G0ld.

BETHANY, Mo-, July 25.-At thi
time, when the discussion of the sill
yer question is so prominent, th
following brief synopsis of the legis
lation of Congress in reference to tn
coinage of gold and silver should b
interesting and instructive:
| The first law of Congress was tn
act of April 2, 1892, over 100 year
ago, entitled Gan act establishing
mint and regulating the coins of tn,
United States" Amongother thing
it provided:
"Sec. 8. That there shall bt
from time to time struck and coineG
at the said mint coins of gold, silver
and copper of the following denomi
nations, values and description, viz.
Eagles-each to be of the value O
ten dollars or units, and to contain
247 grains and four -eighths of a grain
of pure or 27O grains of standard
gold" (and half eagles and quarter
eagles to contain half and quarter
the amount of gold, and these were
the only gold coins provided for)
"Dollars or units-each to be of the
value OF the Spanish milled dollar as
the same is now current, and to con-
tain 81 grains and four-sixteenths
parts of grain of fpure or 416 grains
of standard silver (and also pro-
vided for coming half dollars, quar-
ter dollars, dismes and half dismes,
to contain respectively one-half, one
fourth, one-tenth and one-twentieth
as much silver as the dollar or unit)
"Sec. II. That the proportion
al 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
quantity in weight of pure gold or
pure silver; that is to say, every Is
pounds weight of pure silver shall
be of equal value in all payments
with one pound weight of pure gold,
and SO in proportion as to any
greater or less quantities of the re-
spective metals"
Sec. -. Provided that gold
coins should have II parts pure gold
to part alloy of silver and copper,
and the silver not to be more than
half.
Sec. 13. Provided that silver
coins should have ,4S5 parts silver
to 179 parts alloy, the alloy to be
copper.
In February, 1893, an act was
passed regulating the value of for
eign coins, which provided that
Spanish milled dollars of not less
weight than II pennyweights and Z
grains should be legal tender in any
payment of all debts and demands
at the rate of 81, and in proportion
for the parts of a dollar.
The act of June %, 1884, con-
cerning gold coins, provided that the
gold coins should contain metal as
follows: Each eagle shall contain
232 grains of pure gold and 258
grains of standard gold, and the halt
eagle and quarter eagle shall con-
tain one e-half and one-fourth said
amounts, and shall be legal tender
when of full weight for $40, SIS and
$2 so, respectively, and when Of less
weight in like proportion.
Here it will be noticed the weight
of the gold coins was reduced, and
has since remained of the weight
specified in the law of 1884.
The act of January IS, 1887, con-
tinued the gold coins as above, and
provided that the silver dollar should
be of the weight of 412ha grains,
and the half dollar, quarter dollar,
dime and half dime should be in
proportion thereto, and that both
gold and silver coins should be of
nine-tenths pure metal and one-tenth
alloy, and that all such coins when
Of full weight should be legal tender
of payments according to their nom-
inal value for any sums whatever.
The act of March 3, 1S49, provid
ed for coming the double eagle and
one dollar gold piece. This was the
first time the gold dollar was author