The old Abe eagle. (White Oaks, Lincoln County, N.M.) 189?-189?, 1894-06-07
SHORT CHAPTERS on MONEY.

During the period embracing 1892 1898
there was $127.149,0565O in half dollar
coined and s44,901 1880 in quarters,
There was also $29, 1883 40 in dime,
coined, S4,8S0,21940 In hall dimes, anc
S271 600 in twenty cent peices. Thes,
latter were all coined between '75 and '7S
the only years in which their coinage wa
provided for by law. The half dime wa
dropped from the coinage In 1873. The
nickel s cent peice, authorized in 1866
takes its place.
The standard, subsidiary and mino
COINS Of the United States, since 1890
are
GoLD.
Double Eagle, Eagle,
Halt Eagle, Quarter Eagle.
SILVER.
Dollar. Half-Dollar,
Quarter, Dime.
OTHER Coins
Nickel, One Cent Piece.
The total amount of gold coined from
1892 to 1893 was $l,612, ,4O5,415, OF which
$1,536, ,063, ,975 have been coined since the
discovery OF gold in California Q848).
The amount of silver dolla RS coined in
the same period has been 1927, ,378, ,28s
or about one fourth the amount OF gold
only $8,045,SSS of which were coined
prior to 1878. But during that time
there was much larger proportion OF
half dollars coined-the amount up to
l973.having been s99,si5, ,235 so. $4,000,
900 in columbian" half -dallars were
coined under the act of 1892, and $4,000
in quarters OF the same design under ACT
4 1898.
There have been coined since the "De-
monetiz. ton of silver in 1873, 4l9332,
450 dollars of that met Al, and S59530, ,154
80 in halves, quarters, twenty cent pieces
and dimes.
There was also coined between 1879
and '78 $35,965,9 in Trade dollars,
coins of 420 grains, produced for export
to China and Japan. These were for th,
irst three years that they were coined
.egal tender to the amount of $5. The
greater part OF these which remained il.
the country, or came back from the Ori
ent, were recoined into dollars and sub
sidiary coins. They now have only their
bullion value.
The coinage of gold and silver were
both free and unlimited during tn,
whole period prior to 1873. In that year
June l2) gold was subjected to charge
Of mills in the dollar for coinage But
The coinage was again made free by art
OF 1875 (Feb, ~. The act of 1873 added
a gold three dollar piece to the coinage,
but this was dropped by act Of 1890
Sept. 26)ss was also the gold dollar al
thorized ia lst9.
The act Of 1890 (July l4) directed tht
Secretary of the Treasury to purchase
monthly 4,t00.00 ounces Of fine silver
bullion, or as much as might be offered
up to that limit, and to issue in payment
for the same Treasury notes in dcnomi
nations OF not less than 81 nor moro than
$1,000, These notes might bo redeemed
in either gold or silver coin at the discre
tion of the Secretary, and after redemp.
tion the notes might be re-issued. Un-
dor these conditions they were equivalent
to and passed as gold.
1t was provided in the purchase act
that the price paid for silver bullion
should not exceed 81 for 37l 4 grains the
amount OF pure silver in a coined dollar
The same act provided that during the
fiscal year enIing July 1st, 1891, $1,000,
OO0 ehold be coinod each month; aftor
hat datv the dollars were to be coined es
needed to redeem the Treasury notes ia
sued in payment for the bullion.
A clause in the act declared that il was
the established policy OF tho United
States TO maintain gold and silver on o
parity with each other, and to do this the
Secretary Of the Treasury construed the
redemption clause to mean that the
holder of the note might demand which
he preferred, which Of course meant gold
Under the operation OF this act l6S,674,
6S2 ounces OF puro silver we're purchased
by tue lreasvry, at cost Of Sl55, 1881 ,0O2,
on which was issued the same amount in
Treasury notes. Tho aot was repealed
in 1893 NOV, u.
Tho Treasury notes aro now redeemed
In gold and rs.issued; or, II redeemed In
silver, are cancelled.
There was at the end OF 1909 enough
silver bullion in the Treasury vaults to
coin about $1,000. 600 dollars. This sil-
yer cost the government sl20,750,2 $50 In
Treasury notes. The difference between
these figures represents the government :