The Abbeville press and banner. [volume] (Abbeville, S.C.) 1869-1924, 1896-09-23

sidiary silver, gold certificates, silver cer-
tiflcates, treasury notes issued under the
act Of July IA, 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 as 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 its 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
oil 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 arc 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 20 cents.
Gold Coins.
The coinage of legal tender gold was au-
thorized by the first coinage act passed by
congress, April 2, 1792
The gold unit of value is the dollar,
which contains 25.8 grains of standard
gold 900 fine. Gold is now coined III de-
nominations of $3.50, s., $40 and $50,
called respectively quarter eagles, half
eagles, eagles and double eagles.
The total coinage of gold by the mints
Of the United States from 1892 to June 80,
1895, is 81, s14, 692, ,253, Of which it is esti-
mated that s5G7, 931, 1928 is still in existence
as coin in the United States, while the
remainder, s1,246, 760, 43O, has been ex-
ported or consumed in the fine arts. The
gold bullion now in the United States
amounts to S32, ,26S,95 1t will be seen
that more than two-t thirds Of the gold coins
struck at the mints of the United States
have disappeared from circulation.
Silver Coins.
The silver unit is the dollar, which con,
tains 412h grains of standard silver 900
fine The amount Of fine silver in the dol
lar Is 371H grains, and there are Az
grains of copper alloy. The standard sill,
yer dollar was first authorized by the act
of April 2, 1892. Its weight was 416 grains
S92. fine. The total amount coined from
1899 to 1878 was $S,O3l, ,23S, and the
amount coined from 1878 to June 30, 1856,
was $3.50, 790,041. The coinage ratio be,