The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1896-08-02
UNITED STATES COINAGE LAWS

miied SILVER dollar was the accepted mon
etary unit In commercial circles. In the
weeping OF accounts the English pound
Siu shIllng was used along with the
| dollar hut the shilling, having different
s-derable annoyance. The principal coins
| used We're those issued by England Snain
france and Portugal. and they had a gen
| orally uniform valuation throughout the
colonies up to the time the new govern
ment decided to issue a National coinage.
| The law creating the United States min,
and providing for National coinage was
passed April 2. 1922. According TO its pro-
| visions coins were to be made of gold
silver and copper. or the denominations
| OF eagles' haif- eagles and quarter eagles.
III so'a; doiiisrs h;ulf,dollars, quarters.
n.i.eS ana halt dimes. of SILVER cents and
unl cents. OF copper. The eagles con-
c r.,,ia af',2 graens of pure gold or 20
| COINS We're of proportionate weight The
dollar. or unit" az the statute denomi-
tateu that com, was of the value of the
| spanish mled dollar as then current. and
| II contained 371i. grains OF pure silver
or iib grains of standard silver The big
corner cent contained 26l grains. but was
reduced in weight the following year 10
zoS grains The relative value OF the two
neials, gold and SILVER. was fixed at a
the right to have god or silver cs'.r,ed
i ~ me ne mint without charge, though If
| me sdepS3s!or wished Immediately to ex-
change bis bullion for coin. a charge of y
par cent WAS deducted from The weight
OF inc bullion to indemnify the mint for
the exchange and for the time required to
| coin the metal into money.
IheSe COINS excepting the copper cent
| ana half-cent pieces. We're made legal
| tender in any sum. and 1t was expressly
| stated that the money of account Of me
United States shall be expressly in dollars
or 4nss' dimes $50, or tenths, cents or. hun
| dredths ana mills or thousand 1hs" and
all accounts In the public offices were
ordered kept In conformity with this reg
(,onuraes ccor ,P,orr.,-a ,,...ss = g.,
authorizing the director OF the mint to
| contract for the purchase of not more
than 100 tons of copper for the purpose
| of the one cent and half cent coinage, and
| upon the receipt OF copper coin IN the
| treasury to the amount of $4,000 notice
was to he given that no other copper coins
| should be lawful. and their tender there
| after would be Il misdemeanor suhjecting
| the holder to n fine of $40.
| The big copper cents still proved TO be
entirely too heavy. and by a presidential
proclamation the weight was reduced in
| 1875 to lGS grains. and that of the half
| cent propordonatoly.
| The law creating the mint located II at
the seat Of government, which was NJ
that time In Philadelphia, and subsequen,
legisla ,Aon permitted Il 10 remain there
for short periods of wears, until, N KS,
the law was changed as to permit the |
mint to remain in Philadelphia until
otherwise provided for by law.
No issue of silver dollars was made from |
The mint from 1905 to 1896 their coinage |
having been suspended by President jeff
erson. owing to the fact that the bullion
value of the silver dollar was greater than
its face value and It was being bought for
export. The bullion value of the gold cons
was likewise found 10 be greater than
their respective face value and gold coins
were disappearing from circulation. Con-
gress. In 1891. reduced the weight OF gold
coins from 40 TO 2S.2O granS OF pure goa
value of gold and silver in coinage from lo
A number of changes In the law regulat-
ing the mint and the coinage was made by
an act passed January IL lSi, whereby
the standard for both gold ana silver coins
was made nine-tenths pure metal the al
10y for gold coins being silver ana copper,
and for silver pure copper The sly silver d9i-
were declared to be legal tender for all
dents and for amy sum whatsoever,
Double .eaglss and gold doians were au-
In order to provide coin suitable FOR
change made n the postal rates; Gong silxer
the weights of the fractional silver coins
were reduced in 1853 and their 'HEr H. ,ei fres
coinage provision was suspended as 20
silver offered for coinage INFO the t,ac.
tonal parts of a dollar ~ lniS saihe IA"
the 50 gold piece was ordered struck AZ
the mint
been suitable to the public, ana acrorn-
ingy. in 1856, COIN composed Of COPPER
and nickel was authorized The coinage
OF the big copper cent and the man CENT
v-ls .4-. ~ltt,titt1 IN M. aud n.cktl tNni
authorized which. in turn, was discontinue,
ed In 1864, 20 give place to the bronze ecu.
of present issue 4 bronze cen, h'eee
was at the same time estahlishe1 but ~
coinage was stopped in 1878. Inc d en- en-
nickel coin was discontinued in Nv NJ. NJ
) cent nickel was ordered In lssb. me
authorized minor coins now are the >
cent nickel and the bronze cent Wy esA
lender limit Of these being % cents.
The next general revision OF tho Coinage
laws occurred by the act of congress
passed February IL. 1873, and is tainiiar'y
known as "the crome of 49,"
4ais roy sion OF the laws relating 10 .''o
mints, assay offices and coinage oil 'he
United States made the mint n hhred" VI
the treasury department. IL had been oi-
re civ under the Cou.f0. OF las J. -s.uN'1
PRIOR TO the passage OF TINS b.ii ~. S'ti
authorized by this act were tne no" and
eagle. eagle. half ana quirtet ~ ~ io,'ar
81 and 81 pieces Of gold; the irade u99nas,
half dollar quarter and dime, OF siNsl'
the 5-ccnt the 3-cent and the l-ceHV Po,'e,
of base metals The Legal te9dei tl"hhrs
of the silver coins was llmlleu ~ g. ,rha
this was subsequently raised % SV, oino
s-andarl silver dollar had weighed az -
grams, but in the trade dollar the "es"'
was .ncr. ascd to 40 grains ,,.i
The gold dollar was made inc st sitiln
OF value. and the free cc.hhse IL on,"s no
which had stood on the statute poohs ~
TO he passage of this act, was ulseo ~, ~
ued as to silver bullion, excepting "s "
the tnade dollar. o -. ,,,,,or
In 1873 the coinage OF the .v-cen. IL
piece was authorized. but this was ois.
10 m in7Ied in 1878. The mintage .enaIso
for gold was removed In the sahS so "a. |.
Congress. by Joint resolution IN iS'0' w. j.