Ellsworth American. [volume] (Ellsworth, Me.) 1855-current, 1896-08-20
FINANCIAL DICTIONARY.
MEANING OF TERMS NOW Ere
QUENTLY HEARD.
HERE Is A HANDY REFERENCE FOR
THE PERPLEXED STUDENT OF
THE COINAGE QUESTION.

be thick with arguments for and against
free silver. The following definitions and
explanation of current terms in the con-
troversy are given for the benefit of those
looking for information
Bullion-Gold or silver in bars, or in
gots, uncoined.
Kinds Of money In use-Gold coins of
go, $40, IS, and f2b; silver coins of 81, SO
cents, 25 cents and 10 cents; nickel five
cent coins; cents; United States notes
("greenb acks'o, treasury notes; United
States gold certificates, issued upon depos-
its OF gold coin; United States silver GER
titicates, issued upon deposits Of silver
dollars; United States currency certif-
Gates, issued on deposits Of United States
notes, to national banks only tissue now
suspended); national bank notes issued
by national banks.
Subsidiary Coin-Silver coins of SO
cents, 25 cents and 10 cents.
Minor coin-Nickel five cent pieces and
cents.
Money of the Constitution-The consti-
tuition gives Congress power "to coin
and of foreign coins and forbids the
states to coin money or make anything
but gold and silver tender in payment
Of debts"
Ratio Of IS to lin the proportion of
sixteen grains of silver to one of gold, or
more precisely Of 1888 to one; that is a
silver dollar contains 81 .25 grains of pure
silver, and gold dollar 23.22 grains Of
pure gold, there being sixteen grains in
the former to one in the latter.
Origin OF the Ratio-Fixed by law in
| 1892 at fifteen to one, representing the rel
alive commercial values of the metals;
changed to 1902 to one in 1884, and to
present ratio in 1887.
Grains in Gold Dollar-23.22 of pure
| gold and 2.5S OF alloy. No gold dollars are
now coined; but this is the proportion in
eagles, doubleeagles, half-eagles, and
quarter-eagles.
Grains in Silver Dollar-371.2 % of pure
silver, and 41.25 of alloy
Trade Dollar-AuthOrized by Congress
III 1873 for foreign use. Coinage discon-
tinued in ISIS by order of the treasury.
Contained 3ss grains of pure silver and II
OF alloy. By act OF 1851 it was for six
months redeemed in standard silver
dollars, and its further coinage prohit-
tied.
Free Coinage of Silver=Coina ge by the
United States minis of all silver offered,
free of charge to the owners of the
bullion, INTO legal-tender money.
Unlimited Coinage of Silver-Coin-
age of all silver bullion offered.
independent Coinage of Silver-Unre-
stricted coinage Independently of OF her
nations.
Seignorage difference between the
cost of tue bullion purchased by the
government and its face value when
coined. For example, the present com
mercial value of silver Is 50 cents per
ounce. One hundred ounces, cost ing S69,
! would coin S12929. The seignorage, or
gain of the government, would therefore
be about $50. Under free coinage this
profit would 90 to the individual owners
of the bullion.
Gold Reserve Cold held by the treasury
for the redemption of paper money. The
aim is to keep this fund up to 800, 900, 900.
,,.g,,,t ,,,g,.a,,,n,. ,,a,,,l
So. $780,. Co.. ,,.3.o
.'...,,
go, ,,t..',,-'1 ,.,,,....ie
-, ,,,..,. l,,...,. - -.
Finland, Germany, Great britain, Ii
IBERIA, Newfoundland, Norway, Portugal,
.,t.,.i.., ,,...; o-,,..;.
$50, -" ,,,i.,. ,,,.,...,..' I,s,s
49,. 1,,,. ~, d.. .,g0;,
,r.i,,,I;
,,.-.....
s.,,:
9'sii VS. $50 - - - ''- '"'"0 ~ '"N