The Kinsley graphic. [volume] (Kinsley, Kan.) 1890-1940, 1893-06-30
THE UNIT OF MONEY.

1t Is Ideal. Abstract and Imaginary-The
Coin We Call the silver Dollar Is Nate
rial Embodiment of 1t.
In 1889 the constitution of the United
States was adopted, which specifically
gave congress the power ito coin
money and regulate the value thereof"
In consequence of this the act of 1856,
by the consent of congress, was ig-
nored, and another act conforming to
the suggestions of Mr.. Hamilton was
passed April, 1892. 1t will be noticed
in this connection that the dollar, or
unit of money is certain number of
grains of silver and its ratio is certain
number of grains of gold, both
having. the same debt-paying power
and the same rights to coinage and
circulation. That this has been
changed to our disadvantage will he
shown later on. In order that
this point may be clearly under
stood and the authority undisputcd,
reasons for this will appear further in
this work as discussion of: the sub
ject makes this proposition an impor
tant one in relation to our financial
system. This act established the orig
inal unit of money in the United States,
designated its material and weight,
and also made provision for its ratio in
gold and copper. 1t should be studied
with much care, as the whole monetary
system of the nation is founded pri-
marily upon it. 1t was passed after a
thorough discussion. and all the old
statesmen were entirely. satisfied with
the result. / quote the sections gov
erning the coinage of the first United
States dollar, with its ratios and subdi-
visions.
Sec O. And be 1t further enacted, That there
shall be from time TO time struck and coined at
the said mint coins of gold. silver and copper
OF the following denominations. value and de-
scription. viz: .Elgies-Each to be OF the value
OF ten dollars or units, and contain two hun
dred and forty-seven grains and four -eights Of
a grain OF pure, or two hundred and seventy
grains Of standard. gold Half eagles-Each
to be OF the value OF five dollars, and to contain
one hundred and twenty three grains and six
eighths OF a grain Of pure or one hundred and
thirty five grains Of standard, gold. Quarter
eagles-Each 10 be OF the value OF two dollars
and q half-dollar, and 10 contain sixty one
grains and seven-eights OF grain of pure, or
sixty-seven grains and four-eighihs OF
grain OF standard, gold Dollars,
or units-Each to be of the value Of Spanish
milled dollar the same IS now current and
grains and four-sixteeth parts OF pure, or four
hundred and sixteen grains OF standard. silver.
Half dollars-Eacn TO be of one-half the value
of the dollar or unit and TO contain
one hundred and eighth-hve grains
and ten-sixteenth part of a grain Of
pure, or two hundred and eighty grains Of
standard, silver Quarter-dollars-Each to be
of one-fourth the value Of the dollar. or unit
and to contain ninty-two grains and thirteen
sixteenth parts OF a grain Of pure, or one hun
dred and four grains of standard, silver Dimes
Each to be the Value of one tenth Of dollar,
or unit and TO contain thirty seven grains and
two-sixteenth parts of a grain OF pure. or forty
one grains and three hfths paris of grain OF
standard silver. HaH-dimes-Each to be OF
the value Of one-twentieth Of a dollar, and to
contain eighteen grains and nine sixteenth
parts of . grain Of pure, or twenty grains and
four-fiftfs parts OF grain OF standard, silver.
Cents Each to be OF the value Of the one-hun-
dredth part OF a dollar, and to contain eleven
pennyweights Of copper Half-cents-Each to
be o: the value OF half a cent, and to contain
i've pennyweigh:s and one-half pennyweight
Of copper,