United States Notes a History of the Various Issues of Paper Money By the Gover
United States Notes a History of the Various Issues of Paper Money By the Gover
Knox, John Jay, 1828-1892
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427- 429. Norwich, Conn. : Tke Henry Bill Publishing Company. L-*84. CHAPTER X. THE SILVER DOLLAR AND THE SILVER CERTIFICATE. THE act of April 2, 1792, for establishing a mint and regulating the coinage of the United States, authorized the free coinage of a silver dollar of 412. 5 grains, and this provision remained in force until 1873. The act of June 28, 1834, which reduced the gold standard about six and one-fourth per cent. , practically demonetized the silver coinage. Previous to the date ...of the passage of that act American gold and silver coins of all denominations were equally a legal tender, and the silver coins of less denomination than one dollar were chiefly in use, only $1, 369, 517 in Silver dollars having been issued from the mint at that date. The act of 1834 overvalued the gold coinage, driving from the country the full-weight silver coins previously in circula- tion ; and it may be confidently stated that from 1834 to 1873 no silver dollar-pieces had been presented at any custom-house in payment of duties.
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