The Telegraph-courier. [volume] (Kenosha, Wis.) 1888-1946, 1895-05-02
HISTORY OF U. S. COINAGE.
A valuable Reference for Study of the
Financial Question.

History OF United States Legislation
in the matter Of gold and silver cur
rency from the first act of congress in
1856 to the last in 1898:
In 1856 congress adopted the plan OF
national coinage. Gold coinage. The
eagle, $40, containing 2464 grains of
fine gold; the half-eaele in proportion.
SilUer c0i9adge. The dollar contain
ing 375 grains of pure silver, half-dol
lar, dime and double dime in proper
ton.
In 1892 code Of laws was enacted
under which, with slight amendments,
the coinage was executed for forty-two
years.
Gold coinage. The eagle to weigh
27O and 11-12 grains, % carats fine;
the half and quarter eagle in the same
proportion.
SllUer. The dollar Of 100 cents to
weigh 416 grains, half-dollar, quarter
and tenth in same proportion. Ut will
5e seen that under this act both gold
md silver coins were increased in
veight)
1884. The weight of the eagle was
reduced to 258 grains, parts in proper
ton. Silver unchanged.
1887 The silver dollar was reduced
to 412B grains, parts in proportion.
Gold unchanged.
In 1888 an important change was
made in the silver coinage. Pre-eX-
listing laws had made gold and silver
coins, except the three-cent piece, a
legal tender for any amount At the
ratio of 16 to l our silver coinage was
m2adervazated, and in accordance with
the Gresham law, was. either melted
down or largely exported.
To remedy this, the weight of the
half-dollar was reduced from 2O64
grains to 1872 grains, and the smaller
coins in proportion, thus preventing
their expectation. These were made a
legal tender only for sums not exceed
ing SIS.
Another important change was made
by this act; the mint ceased coming
silver for individuals that is, stopped
the free coinage of silver-but pur
chased silver at the market price and
made the coins for government ac-
count. This is the same policy that
Was adopted in England in 1917.
In 1843 the Spanish pillar dollars
and the dollars Of Mexico, ETC., of not
less than .879 in fineness and 415
grains in weight we're made legal
tender at 100 cents each. And the
five-franc pieces of France, 900 in fine
ness and 1874 grains i'll weight, at 50
cents each.
In 1873 the following law was en-
acted: The gold coins shall be gold
dollar, which at the standard weight Of
25.6 grains, g fine, shall be the unit OF
value in the United States, other gold
| COIllO III Ul1O OCCIL1O 1oUAO'
The SiIver coins. The trade dollar
420 grains, the fractional silver coinage
the same as in 1853. No provision was
made for the coinage of the 412b grain
silver dollar. The trade dollar was not
intended for circulation in the United
States, but for purposes of trade with
China and Japan.
} In 1878 we now come to the cele-
, brated Bland bill, in which it was en-
} acted that there shall be coined at the
several minis of the United States sill
yer dollars of the weight of 4l23 grains
which shall be legal tender for al
debts, except when expressly stipu
: lated in the contracts. Nor were they
to be used in payment of gold certiti
l Gates. 1t also provides for the pur
} chase of a sum not less than two mil
, lions nor more than four millions o
silver monthly, this to be coined, an.
S gain or seignorage to be made into tn
e treasury. The holder of this coin wa
7 authorized to deposit any sums not les
j than $40 with the secretary of tn
b treasury and receive certificates, whicl
e shall be received for taxes and all pub
J. lie dues. This act also instructs th
}, president to invite other nations t
n conference to adopt some commo
s ratio between gold and silver.
is This act was vetoed by Presiden
IS Hayes, but was passed over his veto.
n 1890 The act of this year direct
o the secretary of the treasury to pun
,e chase silver bullion to the amount {
b four million, five hundred thousan
if ounces, or 50 much as may be otfere
J. in each month, and to issue in pay
'e ment for such purposes, treasury note