Audubon Republican. [volume] (Audubon, Iowa) 1894-1925, 1896-08-20

sidiary silver, gold certificates, silver GER
tificates, treasury notes issued under the
act of July H. 1890, United States notes.
also called greenbacks and legal tenders,
national bank notes and nickel and bronze
coins. These forms of money are all avail
able rs circulation. While they do not all
possess the full legal tender quality, each
kind has such attributes rs to give it cur
renCy. The status of each kind is as fol-
lows:
Gold coin is legal tender at its nominal
or face value for all debts, public and pri-
vate, when not below the standard weight
and limit of tolerance prescribed by law,
and when below such standard and limit
of tolerance it is legal tender in proportion
to it's weight.
Standard silver dollars are legal tender
at their nominal or face value in payment
of all debts, public and private without
regard to the amount, except where other
wise expressly stipulated in the contract.
Subsidiary silver is legal tender for
amounts not exceeding $40 in any one pay
ment.
Treasury notes of the act of July IA,
1890, are legal tender for all debts, public
and private, except where otherwise ex-
pressly stipulated in the contract
United States notes are legal tender for
all debts, public and private except duties
on imports and interest on the public debt
Gold certificates, silver certificates and
national bank notes are not legal tender,
but both classes of certificates are receiv-
able for all public dues, while national
bank notes are receivable for all public
dues except duties on imports, and may
be paid out by the government for all sal
aries and other debts and demands owing
by the United States to Individuals, cor
porations and associations within the
United States, except interest on the pub
lie debt and in redemption of the national
| currency. All national banks are required
| by law to receive the notes of other ma
| tional banks at par.
The minor coins of nickel and copper
are legal tender to the extent of % cents.
! Gold Coins.
The coinage of legal tender gold was au-
thorized by the first coinage act passed by
congress, April 2, 1893.
The gold unit of value is the dollar,
which contains 25.S grains of standard
gold 900 fine. Gold is now coined in de.
nominations of $3.50, IS, $40 and $50,
called respectively quarter eagles, hall
eagles, eagles and double eagles
| The total coinage of gold by the minte
of the United States from 1899 to June 80
1895, is 81, S14, 500, 1853, of which it is esti
mated that s567, 931, 1913 is still in existence
as coin in the United States, while the
remainder, $1,246, 76O, 43O, has been ex
ported or consumed in the fine arts. The
gold bullion now in the United States
amounts to S32 1868, 955. 1t will be seer
that more than two-thirds of the gold coin!
Struck at tho minis of the United State.
have disappeared from circulation.
/ Silver Coins.
The silver unit is the dollar, which con
tains 4l2H grains of standard silver 90t
fine The amount of fine silver in the dol
lar Is 37iA grains, and there are 41A
grains of copper alloy. The standard sill
yer dollar was first authorized by the &C
Of April 2, 1899. Its weight was 416 grain
J 800. fine. The total amount coined from
1792 to 1878 was $s,O31 1888, and TIN
apnount coined from 1873 to June 80, 1895
was $3.50, 79o,04l. The coinage ratio be