The Washburn times. [volume] (Washburn, Wis.) 1896-1976, 1909-12-30

There Are Ten KINDS on Uncle
Sans Official List.
ALL ARE NOT LEGAL TENDER.
Some CT the Most Imposing of the Pa
per Currency May Be Lawfully Re-
fused When Offered In Payment of
an Obligation of Any Kind.

fused When Offered In Payment of
an Obligation of Any Kind.
Officially there are just ten kinds of
money in circulation in the United
States. Could you name them all off
hand? Do you know which of those
besides gold coin are legal tender and
in what amount? 1t may be that ''all
money looks alike to you," but there's
a difference. and below is the list:
Gold coins. standard silver dollars,
subsidiary silver, gold certificates. sill
yer certificates, treasury notes $500.
United States notes (greenbacks). ma
tional bank notes. nickel coins and
bronze coins.
Looking upon this formidable classi-
fcation of United States money as
made by the treasury department, it
becomes more formidable when it is
considered from the highly technical
point of view as legal tender. Some
of the most imposing of the paper cur
rency is not legal tender at all, while,
as to the minor coins. they are legal
tender in such small amounts as to
startle the average layman. 1t may be
we'll to recall TO this layman that the
term legal tender" owes it's signif-
canoe to the fact that in payment of
debt or obligation of any kind it can
be forced upon the creditor lin full of
all demands"
Gold certificates, silver certificates
and national bank notes. of which
such enormous numbers circulate
every here. are not legal tender. Ii
you have plenty of money and if you
have forced Jones to sue you in order
to get judgment. Jones can turn down
every one of these bills rendered in
payment and force you to dig up some
thing better.
Should Jones do such thing you
might conceive the idea of fixing him
by unloading a whole lot OF silver coins
upon him But you want to know
what you're doing there. too. for he'll
take only SO worth of halves. quarters
and dimes. while of nickels and cop
per cents only % cents value is legal
tender.
But as to the standard silver dollar.
there's no limit upon your shoveling
them out to Jones. This old ,dollar
of our dads still is the real thing in
all business transactions unless some
clause in contract has provided 9TH
erwise Jones may refuse the silver
certificate. but when you dig up the
metal dollar they go unquestioned at
their face value. And 1000 of them
weigh 1892 pounds.
Treasury notes of the act of 1890 are
legal tender to their face value in pay
ment of all debts. public and private
unless expressly stipulated in the con-
tract.
Strictly speaking, the United States
notes or greenbacks are legal tender.
with the exception of duties on i'm
ports and interest on the public debt.
Practically. however. since the resump-
ton of specie payment in 1879, green
backs have been received freely and
without question by the government,
though the law respecting them hasn't
been changed.
While the gold and silver certificates
are not lega tender as between indi-
viduals. both issues are receivable for
all government dues of whatever kind.
in this respect legally more acceptable
than is the greenback.
National bank notes. while not legal
tender and not receivable for duties on
imports, still may be paid by the gov
eminent for salaries and all debts OF
the government except interest dues
and in redemption of national currency.
By especial enactment no foreign
coin of any kind or denomination shall
be legal tender in the United States.
so that if some time the street car con-
ductor does balk at the chance Cana
dian dime fished from your pocket
keep cool and dig for something that
is United States. It's your move.-Chi-
cago Tribune