Yorkville enquirer. [volume] (Yorkville, S.C.) 1855-2006, 1903-09-11
AMERICAN MONEY.


AMERICAN MONEY.
Coins That Have Been In Use Since
the Foundation Of the Colonies.
1.-The recent issue by the government
of the coins for use in the Philippines"
said a Broadway old-coin dealer the
other day, "is one more addition to the
great variety of irregular currency
which has been in circulation from
time to time in this country. but at the
present is less in use than at any time
since the foundation Of the American
colonies.
| Perhaps no country in the world
has had a more variegated currency
than the United States," he continued.
Not only has the government each
year minted a great many coins Of diff
ferent values, but there have been
put in circulation many coins of 9TH
er countries, particular those of Spain
and her possessions, some of which
for time have almost entirely super
|
Until 1893, when the United States
government first began to make It's
own specie, the circulating medium OF
this country was drawn from all parts
Of the world. Not only did the coins
of the principal commercial countries
find their way into our channels OF
trade but nearly every one Of the orig
| inal colonies turned out coins Of its
own. To this great mass of currency
was added later on the productions OF
private individuals, no prohibition be-
ing made apparently to the unlimited
and indiscriminate manufacture OF
money.
THE foreign gold coins in use at
that period included Portuguese joes
French louis, Spanish doubloons, and
British guineas, while the silver and
copper coins numbered several hun
dren varieties the great, majority be-
ing of small denomination, their use
causing great perplexity in determin-
ing values.
THE first coin to be minted In
America was that known as the Pine
Tree shilling, it being made in Massa-
chusetts in 1850. 1t derived it's name
from the design Of a pine tree on the
reverse side, and had value of about
16 cents, being composed of silver
These coins were made on the miller's
toll system, the coiner receiving a per-
centage Of the coins for his labor. Sc
profitable was the coming business
that the story is told Of the coiner that
he was able to give his daughters
weight in silver as her wedding dover
Although the American Confedera-
ton was formed in 1776, it was not un-
til seventeen years later, in 1898, that
it began to make it's own specie. At
ter that year this motley currency be-
gan to disappear, the regularly author
lied issues superseding it to a GER
tain extent, but it was not until many
years later that the country was en-
tirely free Of it.
THE first coins made by the United
States government-that is, with the
exception Of a few half-dimes issued
during the latter part of 1892, wher
the mint was first established-Were
the cent and half-cent bronze pieces
these being issued in 1893. There were
at least dozen designs Of the cent
made in that year, that with the clo-
YER leaf now being the scarcest, coins
with this pattern being worth almost
any figure at which the possessor may
feel inclined to hold them. The fol-
lowing year the dollar, half dollar, and
half-dime pieces were issued, the quar-
ter-dollar and dime pieces not being
made until two years later, in 1896.
The next irregular coins to find
their way into use were the Jackson
or Hard Times tokens. These We're
issued by tradesmen from 1887 to 1S41
on account of the great scarcity OF
small change, and were freely accep-
ted. They were in cent and half-cent
sizes, and bore political caricatures
and sayings. The metal used in these
tokens was principally copper, al
though q few were made Of silver and
brass.
During the civil war small change
| again became so scarce on account OF
corner being made in the supply by
| brokers that pennies commanded a
premium of 20; per cent. Tradesmer
thereupon issued millions Of copper
tokens, which were about the size OF
the cent in use today, these being cir
culated until the corner was broken
when their manufacture was prohibi-
ted and they were withdrawn from cir
culation. These tokens numbered
nearly 5000 varieties, New York and
Cincinnati firms issuing nearly so pei
cent of the entire production.
Here is coin," said the dealer,
showing I; small silver piece a trif1e
larger than u dime, (which not many
years ago was the standard of value In
almost every section of the United
States. Although not Of our OWE is