The Kimball graphic. (Kimball, Brule County, Dakota [S.D.]) 1883-1905, 1896-08-22
Ahoutour 1.onex.

ABOUT our y. Osley.
The statement recently issued by the
treasury department giving descrlp-
tion of our different forms of money is
particularly desirable at this time. Tho
three particular points most sought for
are the facts concerning the differ ent is
sues OF money, their legal tender powers
and the terms governing redemption Of
representative money:
There are ten different kinds of money
in circulation iu tile United States
namely, gold coin, standard silver dol
lars, subsidiary silver, gold certificates,
silver certificates, treasury notes Issued
under the act Of July a, 1890, United
States notes, also called greenbacks and
legal tenders, national bank notes and
nickle and bronze coins. These forms OF
money are all available as circulation.
While they Go not all possess the full
legal Gender quality, each kiEd has such
attributes as to give it currency. The
status Of each kind is as follows:
Gold coin is legal tender at its nomi-
nal or face value for all debts, public
and private. when not below the stand
ard weight and limit of tolerance pre-
scribed by law. and when below such
standard and limit Of tolerance it is
legal tender in proportion to its weight.
Standard silver dollars are legal ten
der at their nominal or face value in
payment Of all debts, public and private
without regard to the amount, except
wherc otherwise expressly stipulated in
the contract.
Subsidiary silver is legal tender for
amounts not exceeding $40 in any one
payment.
Treasury notes OF the act of July ii,
1890. are legal tender for all debts, pub
lie and private, except where otherwise
expressly stipulated in 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 re-
ceivable for 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
salaries and other debts and demands
owing by the United States to indlyidu-
ais, corporations ard associations within
the United States. except interest on
public debt and in redemption of the
national currency. All national banks are
required BY law to receive the notes of
other national banks at par.
The minor coius of nickel and copper
are legal tender to the extent OF %
cents.
Gold coins and standard silver dollars
being standard coins of the United States
are not "redeemable."
Subsidiary coins and minor coins may
be presented in sums or multiples OF $40
to the treasurer OF the United States or
to the assistant treasurer for redemption
or exchange into lawful money.
United States notes are redeemable in
"coin" in sums not less than $50, by the
assistant trcasurers in New York and
San Francisco.
Treasury notes Of 1890 are redcemable
in coin" in sums not less than $50, by
the treasurer and all assistant treasurers
Of The United States.
National bank notes are rcdecmable
in lawful money Of the United States by
the treasurer, but not by the assistant
treasurers. They are also redpemable at
the bank of issue. In order.to provide
for the redemption Of its notes when
presented, every national bank is re-
quired by law TO keep on deposit with
the treasurer sum equal to 5 per cent
OF Its circulation.
Gold certificates. being receipts for
gold coin, are redeemable in such coin
by the treasurer and all assistant treas
urers of the United states.
Silver certificates are receipts for
standard silver dollars deposited, and
are redeemable in such dollars only.
Coin" obligation of the government
are redeemable in gold coin when gold
is demanded and in silver when silver is
demanded.
i This makes q condensed and concise
library Of information. A careful read
! ing and keeping for ready reference
will do much to correct many popular
, mistakes.
William E. Curtiss, the Chicag,
Rncord's we'll known sDeciaI contributor