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Home > History and Archaeology > History > Resumption and the Silver Question; Embracing a Sketch of the Coinage and of the Legal Tender Currencies of the United States and Other Nations. a Hand-Book for the Times
Resumption and the Silver Question; Embracing a Sketch of the Coinage and of the Legal Tender Currencies of the United States and Other Nations. a Hand-Book for the Times

Resumption and the Silver Question; Embracing a Sketch of the Coinage and of the Legal Tender Currencies of the United States and Other Nations. a Hand-Book for the Times


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Purchase of this book includes free trial access to www.million-books.com where you can read more than a million books for free. This is an OCR edition with typos. Excerpt from book: PART III. THE SILVER QUESTION. Upon the formation of the government, one of the earliest and most important measures engaging the attention of Mr. Hamilton, first Secretary of the Treasury of the United States, was the establishment of a mint, to correct ?to quote from his celebrated Report of 1791?the immense disorder which already reigns in so delicate and important a concern [as the currency], and the .still greater disorder which every moment is possible. The money in circulation, at the time, were coins from nearly every mint in the world; the greater part, however, being those of Spain and her colonies, at that time the chief source of the supply of the precious metals. A portion of the coins in circulation of different nationalities were, for a time, from the necessity of the case, made legal tender and receivable in the payment of the revenues. The greater part of the coins we're largely reduced in value from wear, while the amount of pure metal they contained depended upon the regulation of each mint. In the establishment of a system for the new nation, the first thing to be considered was the relative value of the two metals to be used? gold and silver?so that, with the two, there should be but one standard; the coins of each metal of similar denominations, or their multiples, to have equal values. In determining this point, it became necessary to decide upon the metal best fitted to serve as the unit to which the value of the other should be referred. Mr. Hamilton, with a sagacity which never failed him, at once adopted gold as having the most uniform value. That species of (silver) coin, the old piaster (dollar) of Spain ?to quote further from his report of 1791? has never had any settled or standard value according to weight or fineness, but has b...


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Product Details
  • ISBN-13: 9780217865333
  • Publisher: General Books
  • Publisher Imprint: General Books
  • Height: 246 mm
  • No of Pages: 64
  • Spine Width: 3 mm
  • Width: 189 mm
  • ISBN-10: 021786533X
  • Publisher Date: 11 Jan 2012
  • Binding: Paperback
  • Language: English
  • Returnable: N
  • Weight: 132 gr

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Resumption and the Silver Question; Embracing a Sketch of the Coinage and of the Legal Tender Currencies of the United States and Other Nations. a Hand-Book for the Times
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