Interview of John Jay Knox President of the National Bank of the Republic New
Interview of John Jay Knox President of the National Bank of the Republic New
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It is quite true that the silver dollar, being more valuable than 2 half-dollars or 4 quarter-dollars, will not be used as a circulating medium, but only for cabinets and perhaps to supply some occasional or local demand ; yet I think there is no necessity for so con- siderable a piece as the dollar to be struck from metal which is only worth 94 cents. When we speak of dollars let it be known that we speak of dollars not demonetized and reduced below their intrinsic value, and thus avoid the in...troduction of contra- dictory and loose ideas of the standards of value.
Mr. George F. Dunning, formerly superintendent of the United States assay office in New York, proposed that the law in regard to the silver coinage should be in the following language : SEC. 11. And be it further enacted, That the silver coins of the United States shall be a dollar, a half-dollar, a quarter-dollar, a dime or tenth of a dollar, and a half dime or twentieth of a dollar; and the standard weight of the silver coins shall be in the proportion of 384 grains to the dollar and these coins shall be a legal tender in all payments not exceeding $5.
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You can find similar books in the "Read Also" column, or choose other free books by Knox, John Jay, 1828-1892 to read onlineMoreLess
To quickly assess the difficulty of the text, read a short excerpt:
It is quite true that the silver dollar, being more valuable than 2 half-dollars or 4 quarter-dollars, will not be used as a circulating medium, but only for cabinets and perhaps to supply some occasional or local demand ; yet I think there is no necessity for so con- siderable a piece as the dollar to be struck from metal which is only worth 94 cents. When we speak of dollars let it be known that we speak of dollars not demonetized and reduced below their intrinsic value, and thus avoid the in...troduction of contra- dictory and loose ideas of the standards of value.
Mr. George F. Dunning, formerly superintendent of the United States assay office in New York, proposed that the law in regard to the silver coinage should be in the following language : SEC. 11. And be it further enacted, That the silver coins of the United States shall be a dollar, a half-dollar, a quarter-dollar, a dime or tenth of a dollar, and a half dime or twentieth of a dollar; and the standard weight of the silver coins shall be in the proportion of 384 grains to the dollar and these coins shall be a legal tender in all payments not exceeding $5.
What to read after Interview of John Jay Knox President of the National Bank of the Republic New?
You can find similar books in the "Read Also" column, or choose other free books by Knox, John Jay, 1828-1892 to read onlineMoreLess
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