The Newberry herald and news. (Newberry, S.C.) 1884-1903, 1894-07-04

ofstapdard gold.
Dollars or units-Each to be of th'
value of Spanish milled dollar as tn
same is now current, and to contain
three hundred and seventy-one grain
and four-sixteenths of a grain of pur
or four hundred and sixteen grains 0
standard silver.
'Half dollars-Each to be Of half th'
value of the dollar or unit, and to con
tain one hundred and eighty-fiv'
| grains and ten-sixteenths part of ;
grain of pure or two hundred and eigh
grains of standard silver.
"Quarter Dollars-Each to be Of one
fourth of the value of the dollar O
unit, and to contain uinety-two grain
and thirteen-sixteenths part of grair
of pure or one hundred and four part
of standard silver.
"Dimes-Each to be Of the value o
one-tenth of q dollar or unit, and tt
contain thirty-seven grains and two
sixteenths parts of grain of pure Of
forty-one grains and three-fifths part
Of grain Of standard silver.
Half Dimes-Each to be of the
value of ene-twentieth of dollar, anC
to contain eighteen grains and nine
sixteenths parts Of grain Of pure Of
twenty grains and four-tifths parts O.
grain of standard silver.
"Cents-Each to be of the value O
the one bundredth part of dollar, anC
to contain eleven pennyweights o
copper;
OF half a cent, and to contain five
pennyweights and half a pennyweigh'
of copper"
The above named coins are the only
ones authorized by the act to be struck
and coined for the first sixty years
and more after the passage of the first
mint act.
It will be observed that there is no
gold. dollar among them. The gold
dollar was not coined until alter the
act of March 8, 1919, which authorized
the coinage OF double eagles and gold
dollars. The dollar or unit called for by
the act was a silver dollar containing
81 IA grains of pure silver or 4le
grains of standard silver of the value OF
the Spanish milled dollar which was
and had been the money unit, the
dollar of account since 1904. There
was no change in the value of the
coins until the following act was passed
June 2S, 1884:
"Be it enacted by the Senate and
House of Representatives of the United
States of America in Congress as
sem bled, That the gold COINS of the
United States shall contain the follow
ing quantities of metal, that is to say:
Each eagle shall contain two hundred
aud thirty-two grains of pure gold or
two hundred and 6fty-eight grains OF
standard gold; each half eagle, Que
hundred and sixteen grains of pure
gold or one hundred and twenty-nine
grains Of standard gold; each quarter
eagle shall contain fifty-eight grains OF
pure gold or sixty-four and half
grains Of standard gold" etc.
1t will be seen that the pure gold in
the gold coius have been reduced by
this act. No mention is made Of the
other coins.
On Feb. Is, 1887 an act was passed in
regard to the establishment of mint
and regulation Of coins of the United
States, from which lquote the following
extracts:
Sec. s. "And be it enacted, That
the standard for both gold and silver
coins of the United States shall here
after be such that of one thousand
parts by weight, nine hundred shall be
of pure metal and one hundred OF
alloy; and the alloy of the silver coins
shall be of copper and the alloy of the
gold coins shall be of copper and silver,
provided that the silver do not exceed
one-half of the whole alloy.
Sec. 9. sand be it further enacted,
That of the silver coins, the dollar
shall be of the weight of four hundred
and twelve and ouc.half grains; the
half dollar, of the weight Of two huM-
dred and six and one fourth grains; the
quarter dollar, of the weight Of one
hundred aud three and oue-eighth
grains; the dime, or tenth part of a
dollar, Of the weight of forty-one and a
quarter grains; and. the half dime. or
twentieth part Of dollar, Of the weight
of twenty grains and fve-eights Of q
grain; and that dollars, half dollars and
quarter dollars, dimes and half dimes
shall be legal tenders Of payment
according to their nominal value fol
any sums whatever.
Sec. l. "And be it further enacted
That of the gold coias the weight O.
the eagle shall be two hundred and
tifty-eight grains; that of the ball
eagle, one hundred and twenty-niue
grains, and that of the quarter eagle
sixty-four and one-half grains. AND
that for all sums whatever the eagle
shall be legal tender Of payment foI
ten dollars; the half eagle, five dollars
and the quarter eagle for two and
half dollars.
Sec. II. "And be it fur her enacted
That the gold and silver bullion
brought to the mint for coinage shal
be received and coined by the proper
officers for the benefit of the depos'
itor"
It will he observed that the parity
between gold and silver that we hea
so much about was established by tb'
law of April =, 1892. It was adjusted
by the act of June %, 1884. by reduc
ing the pure gold in the gold coins ant
readjusted by the act Of January IS
1887, by slight increase of pure go!c
in the gold coins and making eli th'
coins of both gold and silver nine
tenths fine. While the grains Of pur'
gold in the gold coins have beer
changed twice, the pure silver in tht
silver dollar has never been disturbed
to the present time. The silver dolla
contains to-day the same number o
grains of pure silver that it contained
on April 1892, when it was estab
lished as our money unit, the same a:
the old Spanish milled dollar, th'
money unit for centuries
The act of Jan. IS, 1887, made per
feet the equality Of gold and silver
Both were given the same rights o
coinage and the same debt-payin!
powers, both were given free and un
limited coinage and the coins o
each were made full legal tender alike
From that day to this there has beer
no change by law in the value of th'
gold coin and the standard silver dol
lar. our money unit.
On the third of March, lS49 an Ac
was passed authorizing the coinage o
gold dollars and double eagles. thread
as follows:
HPe II enacted hy the Senate an(