Address Delivered At the Twenty-Second Annual Fair of the Washington County Agricultural Society, September 16th, 1896
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In our eReader you can find the full English version of the book. Read Address Delivered At the Twenty-Second Annual Fair of the Washington County Agricultural Society, September 16th, 1896 Online - link to read the book on full screen. Our eReader also allows you to upload and read Pdf, Txt, ePub and fb2 books. In the Mini eReder on the page below you can quickly view all pages of the book - Read Book Address Delivered At the Twenty-Second Annual Fair of the Washington County Agricultural Society, September 16th, 1896
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The standard dollar, or unit, was fixed at 24I grains of pure gold, and also at 37 1^ grains of pure silver. These two units were declared of equal value ; both were unlimited legal tender, and there was free coinage. Hamilton's system was the most perfect system for the estabUshment of the double standard which had ever been for- mulated, but the result did not justify the expectation. Gold was exported as fast as coined, because there was a profit realized by sending it to Europe. The commerc...ial ratio did not remain the same as the legal ratio.
Silver dollars were also sent over to the West Indies because of a small profit made by exchanging them for Spanish dollars. In 1806 it was found that the United States silver dollars were sent out of the country as fast as coined. The mint was kept busy to no pur- 1 1 pose. In view of this fact Thomas Jefferson, then president, gave an order through his secretary of state, James Madison, to discon- tinue the coinage of silver dollars. The demonetization of silver dates back to that order made by the authority of Thomas Jefferson in 1806.
What to read after Address Delivered At the Twenty-Second Annual Fair of the Washington County Agricultural Society, September 16th, 1896?
You can find similar books in the "Read Also" column, or choose other free books by Hazard, Rowland, 1829-1898. [from Old Catalog] to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
The standard dollar, or unit, was fixed at 24I grains of pure gold, and also at 37 1^ grains of pure silver. These two units were declared of equal value ; both were unlimited legal tender, and there was free coinage. Hamilton's system was the most perfect system for the estabUshment of the double standard which had ever been for- mulated, but the result did not justify the expectation. Gold was exported as fast as coined, because there was a profit realized by sending it to Europe. The commerc...ial ratio did not remain the same as the legal ratio.
Silver dollars were also sent over to the West Indies because of a small profit made by exchanging them for Spanish dollars. In 1806 it was found that the United States silver dollars were sent out of the country as fast as coined. The mint was kept busy to no pur- 1 1 pose. In view of this fact Thomas Jefferson, then president, gave an order through his secretary of state, James Madison, to discon- tinue the coinage of silver dollars. The demonetization of silver dates back to that order made by the authority of Thomas Jefferson in 1806.
What to read after Address Delivered At the Twenty-Second Annual Fair of the Washington County Agricultural Society, September 16th, 1896?
You can find similar books in the "Read Also" column, or choose other free books by Hazard, Rowland, 1829-1898. [from Old Catalog] to read onlineMoreLess
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