Little Falls weekly transcript. (Little Falls, Morrison Co., Minn.) 1894-19??, 1896-08-21

s,tliarv silver. gold certificates, silver Ger
tItlcatcs, treasury notes issued under the
act Of July IA, 1880, United States notes,
also called greenljacks and legal tenders,
national bank notes and nickel and bronze
coins These FORMS of money arc all avail
able as circulation. While they do not all
possess the full le""l tender quality, each
Kind has such attributes ns to give 1t cur
rency. The sta5us of e,lch kind Is as fol-
lows
Gold coin IL legal tender at its nominal
or face value for Ill 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 Its weight,
Standard silver dollars ere legal tender
at their nominal or fuce value in payment
of all debts, public and private, without
regard to the amount, except where other
wise expressly stipulated in tho contract.
Subsidiary silver is legal tender for
amounts not exceeding $40 in any one pay
ment
Treasury notes Of the act Of July IA,
18Ve, arc legal tender for all debts, public
land 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 oil sal
aries and other debts and demands owing
DIV the United States to individuals, cor
porations and associations within the
United States, except interest on tho pub
aio debit and in redemption CT tho national
currency All national banks are required
by law to receive the notes Of other ma
tional banks ut par
The minor coins of nickel and copper
are legal tender to the Q tent OF rs cents,
- Gold Coins.
The coinage of legal tender gold was au'
thorized by the first coinage act passed by
congress, April 2, 1909.
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, hal
eagles eagles and double eagles.
The total coinage of gold by the minis
of the United States from 1899 to June 80
1896, is 1914, 692, 1853, of which 1t Is esti
mated that S567, 931, 1923 is still in existence
as coin in the United States, while thu
remainder, S1,246, $50, 49O, has been ex
ported or consumed in the fine arts. Thu
cold bullion now in the United States
amounts to $50, 269, 955. It will be see1
that more than two thirds of the gold COIN
struck at the minis Of the United States
have disappeared from circulation.
r., Silver Coins.
The silver unit Is the dollar, which con
tains 412h grains Of standard silver 9O'
fine. The amount Of fine silver In the dol
lar is 971k grains and there are 41A
grains of copper alloy. The standard sill
yer dollar was first authorized by the &C
Of April Q, 1899. Its weight was 416 grain
$685. fine The total amount coined from
1899 to 1873 was $S,O31, 1888, and tn
amount coined from 1878 to June 30, 1896
vas $43c, 700. 041. The coinage ratio be