The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1900-11-18
5 III Bundred. -.
5 800. Years Ngo.
How the People Lived When the
{ Country Was Young.
ARTICLE NO. II.
MONEY.

In Virginia during colonial DAYS 6
shillings made a dollar; in New Jersey,
pennsylvania, Delaware and Maryland. Z
shlllinSs and pence; in New York and
North Carolina, S. in South Carolina and
Georgia, 4 and pence. There was very
little gold or even silver coin in general
circulation. Trade was largely by barter
or exchange of commodities. When the
revolutionary war began in 1775, the is
sue of paper money by several colonies,
and by the continental congress became
necessary. The paper used for the bills
was so thick anl coarse that the British
called 1t the ''paSteboard currency of the
rebels" Cart loads of counterfeits were
sent out over the colonies and put in
circulation by the British government,
winch every month was hanging men for
committing the same crime against it's
own country. At the end of eighteen
months from the first issue, 500 00C, 700 had
been struck off by congress alone. and lit
tie depreciation had been noticed After
this. the value of the currency declined
so rapidly that, in 1871, a paper dollar
was worth less than 11@ cents. Congress
resolved that the bills Ought to pass
current in all payments, trade and deal
ings, and be deemed equal in value to tie
same sum in Spanish dollars;' but this
made nc difference, as. before the war
closed, the money was worthless 1t
would not buy food or clothing, or pay
the soldiers. and the whole country Was
distressed With good money, the war
might have been closed sooner-perhaps
IN four or five years.
The plates of the continental currency
We're engraved by Paul Revere, of Bos-
ton, Mass The question of a national
coinage came before congress under the
constitution, Jan. 2S 1871, at PhiIadel-
phla, which resulted in the passage in
April of a law authorizing the making Of
ten different coins, as follows:
Eagle, gold, 270 grains .....S1O OG
Half eagle, gold, 1875 grains .........' 90
Quarter eagle, gold 6712 grains $50. so
Dollar, silver, 416 grains ..... / 90
Half dollar, silver, 2OS grains ........ 50
Quarter ,S dollar silver, 1O4 grains...... Is
half dime, silver POS grains. ....... 05
Cent, copper, 264 grains ......,...... OF
Half cent, copper, 49, grains. 90. y
Many changes and additions have since
been made.
The first coin struck off by the United
States mint was the silver scent piece
1t was originally intended to add star
for each new state on coins as on the
flag, but the idea was abandoned and
thirteen was adhered to. The first coins
had the portrait of Mrs. Washing ton,
which disnleased the president, and SO
the design was changed to the present
liberty head. No mans face has ever
appeared on a United States coin. The
first recognition Of God by the United
States was in 1864, when "In God We
Trust appeared on the copper 2-cent
piece. In 1866 it appeared on the double
eagle, half eagle, silver dollar half dol
lar and nickel 5-cent piece, in lieu Of the
long-eXisting "E PIuribus Unu1l" On
the trade dollar of 1879 both notices APP
peared. The use of the "E Pluribus
Unlun" on coin was never authorized by
law. Its first known use was on a New
Jersey cent struck off in 1776 The word
dollar comes from the German, thaler,
Dutch, daalder; Danish, Raler, and Ital>
ian, tallers. The word dime is from the
French diXieme G. tenth), expressing the
tenth part OF the standard dollar, and
first appeared on sample coins. made for
congress, and spelled "disme.' When our
coinage took the place of Spanish ccir>
age the dime supplanted the real, known
as a shilling in New York, in Virginia as
a levy. and in Louisiana as a bit The
word cent comes from the French cen,
time Q1undredth) derived from the Latin
ccntum, per hundred