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Power granted by Constitution, Act of April 2, 1792, establishing a mint and regulating

coinage - Act of May 8, 1792, copper coinage-Act of January 14, 1793, copper coinage - Act

February 9, 1793, in reference to foreign coins-Subsequent legal tender legislation as to foreign

coins-Act of March 3, 1795, regulating the mint and coins of the U. S.-Act of April 21, 1806,

punishment of counterfeiting-Act of June 25, 1834, gold coins of U. S.-Act of January 18, 1837,

coinage revision-Act of March 3, 1849, coinage of gold dollars and double eagles--Act of March

3, 1851, coinage of three-cent silver piece--Act of February 21, 1853, relative to half and quarter

dollar, dime and half dime-Act of March 3, 1853. new coinage, arraying and regulation of dies-
Act of February 21, 1857, legal tender quality of foreign coins revoked, nickel cent, purchase of
bullion-Act of April 22, 1864, coinage of bronze cent, and legal tender of minor coins--Act of
March 3, 1865, coinage of nickel tbree-cent pieces, limited legaltender--Act of May 16, 1866, coinage
of five-cent piece-Act of March 3, 1871, redemption of copper and other token coins--Act of
February 12, 1873, revising coinage laws--Act of January 29, 1874, coinage of foreign coins at the
mint-Act of June 22. 1874, Revised Statutes of the U. S.-Act of March 3, 1875, coinage of twenty.
cent piece-Act of April 17, 1876, issue of silver coins-Joint resolution, July 22, 1876, issue
silver coins, purchase of silver bullion--Act of February 28, 1878, to authorize standard silver
dollar, purchase of bullion, monetary conference--Act of May 2, 1878, coinage of twenty-cent piece
prohibited--Act of June 19, 1878, assaying of bullion--Act of March 3, 1879, transportation of
securities, coin certificates--Act of June 9, 1879, redemption of silver coins, legal tender of silver
coins--Act of May 26, 1892. gold coin for gold bullion--Act of August 7, 1852, transportation of
silver coins--Act of August 4, 1856, issue of silver certificates, transportation of silver coin--Act
February 19, 1887, retirement and recoinage of trade dollar-Act March 2, 1989, disposal of
"silver profit fund”--Act July 14, 1890, purchase of silver bullion, issue of coin certificates--Act
of September 26, 189), amendment of section 3510, Revised Statutes--Act of September 26, 1890,
discontinues the coinage of three-dollar and one-dollar gold pieces and three-cent nickel-- Act of
February 10, 1891, counterfeiting--Act of March 3, 1891, exchange of gold coins for bars--Act of

November 1, 1893, purchase of silver bullion discontinued.


Act of July 17, 1861, authorizing the issue of Treasury and 350,000,000 demand notes-Act of

August 5, 1861, form and manner of issuing Treasury notes,

Act of February 12, 1862, $10,000,000

additional demand notes-Act of February 25, 1862, issue of $150,000,000 legal tender United States

notes Act of March 17, 1862, demand notes made legal tender --Act of July 11, 1862, additional

issue of $150,000,000 United States legal tender notes-- Act of July 17, 1962, stamps received in pay-

ment of customs duties, fractional bank notes forbidden-Joini resolution January 17, 1863, non-

interest bearing United States notes authorized – Act of March 3, 1863, $150,000.000 additional legal

tender potes authorized, exchange of United States notes for interest bearing Treasury notes, issue

of gold certificates, $50,000,000 fractional currency-Act of June 3), 184, Treasury notes bearing

interest, redemption of Treasury and United States notes, temporary loan-Act of January 28,

1-65, issue of Treasury notes Act of March 3, 1065, conversion of Treasury notes into bonds
Act of April 12, 1865, retirement of United States notes--Act of March 2, 1867, is-ne of temporary
loan certificates in payment of compound interest notes-Act February 4, 18 8, suspension of
further reduction of the currency--Aci of July 25, 1868, redemption and retirement of compound
interest notes--Act of March 18, 1869, to strengthen public credit--Act of July 13, 1970, redemption
of 3 per cent. temporary loan certificates--Act of June 20, 1874, amount of United States notes
fixed-Revised Staiutes relating to currency--Act January 14, 1875, resumption of specie payments

--Actof May 31, 1878, further retirement of United States notes forbidden--Act of August 4, 1886,

issue of silver certificates.


Act of February 25, 1791, incorporation of the Bank of the United States--Act June 27, 1798, coun-

terfeiting--Act of April 10, 1816, Second Bank of the United States--Act of February 25, 1863, to

provide a natlonal bank currency--Act of June 3, 1864, National Bank Act--Act of March 3, 1865,

formation of national banks--Act of July 13, 1936, tax on State banks-Act of March 2, 1867, certi-

ficates of temporary loans-Act of March 26, 1867, tax on county or municipal notes--Act of March

8, 1839, reports of national banks-Act of July 12, 1870, increase of national bank circulation-Re-

vised Statutes of the United States--Act of June 20, 1874, organization of national banks--Act of

June 23, 1874, destruetion of notes--Act of January 19, 1875, limitation of aggregate amount of na-

tional bank notes removed--Act of February 8, 1975, tax on notes other than national bank-Act

of March 3, 1875, printing of the notes--Act of February 14, 1880, conversion of national gold

banks--Act of July 12, 1882, corporate existence of national banks extended-Act of March 3,

1887, reserve cities--Act of July 14, 1890, 5 per cent. redemption fund.


Coins of the United States, authority for coining and changes in weight and fineness, total

amount coined, legal tender quality.





Gold-Silver-United States Notes ("Greenbacks")- United States Treasury Notes of 1890–
Gold certificates-Currency certificates-Denominations --Legal tender qualities - National Bank
notes-Issue limited ---Central redemption agency-Denominations-Shareholders' liability-Quasi-
legal tender-Number and Capital of Banks ---Tax on State Banks-Statement of circulation, Jan.

uary 1, 1995.


Double standard in England-Exportation of gold, 1785—Silver coinage prohibited, 1798-Gold

standard legalized, June 22, 1816- The Sovereign-Weight-Monetary Unit-Actual Circulation-

Right to have gold coined--Price paid for bullion sold to Bank of England-Silver coins - Denom-

inations-Weight-Limited legal tender-Ratio-Coined only for Government account - Bank of

England-Founded, 1694, by Montague-Present charter, 1811-Issue and banking departments-

Circulation-How guaranteed-Reserve may be one-fifth in silver-Actual issues made only against

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gold-Permanent debt of State to bank partial basis of issue -- Notes legal tender except in payment to
branches of the bank -Not legal tender in Scotland and Ireland-Joint stock banks- Banknote issue
in Scotland -- Uncovered issues - Ireland, banks -- Issue of notes --Statement of outstanding bank

notes, 1893—Estimated Stock of Money in Great Britain.



No gold coinage of her own-United States and Great Britain coins used-Amount of gold in

reserves-Silver coinage from 1870–Subsidiary in character-Total coinage, $6.300.000-Dominion

Notes--Limited to $15,000,000-Redeemable in gold-Secured by reserve, gold and securities-

Banks--Limit of note issue-Daily redemption- Elasticity of the system-Aggregate circulation,

November 1, 1991- Estimated Stock of money in the Dominion of Canuda.



Monetary system like Great Britain's - Banking in Victoria-Basis of present system-Sub-

scribed capital of £50,000, half paid up-Number of Banks and branches - Circulation and depos-

its -- Banking in Queensland-South Australia -Western Australia-New South Wales, New


British India,

Fundamental Monetary law-Standard-History of the Free Coinage of Silver-How rupees are

estimated-Legal tender value of rupee--Coinage charge-Ra'io-Gold not legal tender-Denomin-

ations, etc., of gold and silver coins of British India-Banks previous to 1:01 - Issues of present

currency notes--Geographical circles of issue.-Exchange gold or bullion-Reserve invested in Gov-

ernment securities-Maximum limit--Amount of circulation- Estimated stock of money.

Minor British Colonies


Except as noted monetary systems same as England's-The Bermudas—Turk and Caicos

Islands-Newfoundland - British Honduras, Banks of issue ; Recent suspension of specie pay-

ments -- Mauritius, Africa—The Gambia, Africa-Sierra Leone, Africa-Gold Coast, Africa-Gibral-

tar-Cyprus-British Guiana, Bank notes-Ceylon-The Straits Seitlements, silver, legal tender;

Bank notes, banks bound to maintain specie ; circulation--Hong Kong, silver dollar, Bani notes,

Banks, circulation-Cape of Good Hope.



Foundation of present system in monetary laws of 1871-74 - Retirement of old gold coins,

current silver coins - Gold coins-Effect of the law of 1873-Silver--Coinage limited-old coins

called in-Thalers-Sale o silver-Loss by abrasion-Denominations, weight and comparative

value of coius-Imperial Treasury notes, legal tender-Amount-Bank notes-Banks of issue-

Imperial Bank-Tuk on issues above limit-Renewal of charter-Total circulation-Estimated

stock of money in the Empire.



Monetary system established, 1857-1858, 1967, 1870-1891-Coinage of silver suspended, 1879–

Legally single silver standard --Practically no metallic money in circulation-Paper money-

Premium on silver up to 1878 Currency reform-New system gold monometallic--Coins of new

currency-Gold, denominations, weight, etc., of coins-Silver coing-Coinage charges-Ratio-

Coinage of silver--Limited legal tender-Monetary agreement between Austria and Hungary-

Coins of the new system-Staie Treasury notes - Mutual guaranty-Maximum issue-Circulation

-Denominations --Legal tender-Bank notes-One bank of issue-Loans to the State-Bank pays

taxes--Debt of State to bank-Circulation-Must be covered above certain limit-Xotes above

metallic reserve must be guarauteed-Legal tender-Renewal of charter-Estimated stock of


THE LATIN UNION (France, Belgium, Italy, Switzerland and Greece)


Previous union - The money syftem-Ratio-Increase in supply of gold-Causes substitution

of gold for silver in the monetary systems-Formation of the Latin Union, 1865– To maintain

double standard --Each State to receive the coins manufactured by the others--Legal tender value

-First convention--Greece joins the Union - Union of last 15 years--Provides for free coinage of

both metala--Bimetallic--Depreciation of silver limits coinage--Compact prolonged five years-

Coins of each country to be received by the Treasuries of the Union-- Union terminable upon one

year's notice--Balances due after termination of Lnion to be paid in gold or bills of exchange on

the debtor State--Latin Union cha to goll standard-Coinage of gold unlimited, silver

suspended--The ratio still 1814 to 1--Coinage charges-Legal tender.

France-Bank notes, Bank of France and branches-Foundation charter, 1800-Renewal of-Capital

--Note limitation, 4,000,000,000 francs - Legal tender--Estimated stock of money in France. 69

Belgium--National Bank of Belgium-Only joint stock company to issue notes--Individuals and

associations free to issue bauk notes-State receives a share of bank profits-Government may

veto any measure - Branches and agencies-- Note limitations--Amount of bank notes- Estimated

stock of money in Belgium


Italy --State notes - Bank syndicate--Government borrows $200,000,000—Banks issue notes in repre-

sentation of amount loaned-Syndicate dissolved - Notes become a state debt-$70,000,000 siate

notes outstanding - Bank notes- No state bank-Six banks of issue--Limitations on pote issues

Legal limit - Forced currency abolished- Additional notes to be covered by a second metallic

reserve-A fusion of banks in 1893--New bank of Italy-Limit of bank circulations--Notes beyond

livnit may be issued when covered in full by metallic reserve-$235,000,000 bank notes outstand-

ing-Estimated stock of money in Itals.


Switzerland - Bank notes - Recent banks-Oldest banks - Federal law on issue and redemption

of bank notes--Bank of issues must have government authority-Amount of issue regulated by

the Federal Assembly-Metallic reserve Circulation-Redemption of notes, The Confederation

hereafter to take charge of note issue-State bank decided npon, 1894-Plan of the bank-Incor-

poration of present baks as branches-Obligatory acceptance of bank notes not decreed by Con-

federation except in case of war - Estimated stock of money in Switzerland.


Greece-Bank notes-Forced currency-Metallic reserves merely nominal-Irreleemable paper

money rules-Amount of bank notes-Government notes-Gold at a premium-Estimated stock

of money




Monetary system that of Latin Union, with gold 25-peseta piece added-Gold coinage free-

Delay in getting coins-Silver coinage only on account of state-Ratio 154 to 1--Legal tender

coins--Bank notes - Bank of Spain-State no share in, but may require advances-Metallic re-

serve of 25 per cent. - Its notes legal tender-$185,000,000 outstanding-Premium on gold

Estimated stock of money in Spain.

SCANDINAVIAN UNION (Sweden, Norway and Denmark).


Monetary union--Convention 1873-1875--Gold standard-Gold and silver coins--Coinage of

gold unlimited-Silver coined on account of State only-Limited legal tender-Exchange of frac-

cional coins for gold at the public treasuries.


Sweden-State bank of issue- Banks of issue may be established by joint stock companies-Char-

ters-Liability of shareholders unlimited - Right to issue poteg - Capital of Bank of Sweden-

Legal currency guaranteed by the Constitution-Circulation limited-Private bank notes not legal

reuer-The limit of their issue elastic--Statement of notes issued-Uncovered notes of both



Norway-Bank notes-Central bapk of issue-Bank of Norway, founded in 1814–Capital and

organization-Circulation limited-Notes legal tender-Reserve-One-third placed with foreign



Denmark - Bank notes-National bank, founded in 1918—-Only bank of issue-Capital—Note isgue

over metallic reserve limited-Aggregate circulation--Estimated stuck of money in Scandinavian





Adopts double standard, 1816-Silver standard, 1817--Double standard, 1875— Monetary unit-

Gold and silver coins-Only standard gold and silver coins are unlimited lezal tender-Coinage

of silver suspended in 1877 - Colonial monetary system the same-Bank notes-Bank of Nether.

lands-- Chartered in 1814–Renewed three times—Terminates 1914–Not a State bank-Monopoly

of issue-Surveillance over Bank by Government--Note issue not absolutely fixed-Security or--

Metallic reserve, 40 per cent.--$80,000,000 of notes in circulation-Government notes-$3,000,000 in

circulation - Estimaied stock of money in the Netherlands.



Fundamental monetary law 1895–Unit the silver rouble - Coinage ratio, 154-Gold coins--

Coinage of gold unlimited--Mint Charges--Silver-Coined only for State account-Bank notes-

National Bank of Russia, a State bank, capital and reserve fund furnished by Government-State

cannot touch these--State shares profits-Paper money of Russia issued by Bank - Denominations

of credit roubles-Amount of notes depend on exigencies of the Government-Estimated stock of

money in Russia.


Monetary system established, 1854 – Gold monometallic--Unit-Gold coins, weight, fineness

and vilue in U. s. gold coin--Silver coins--Bank notes--Bank of Portugal and several others to

issue notes--Not legal tender, except to public treasuries--Bank notes to represent gold ex-

clusively and be paid in that metal-Estimated stock of money in Portugal.



Monetary system--Gold coins--Mint charges--Silver--Coing--Weight of coins--Ratio of coin.

age lowered--Coinage of silver suspended--Bank notes-Imperial Ottoman Bank sole bank of

issue-- Notes payable in gold-Reserve generally greater than circulation--Estimated stock of

money in Turkey.



Latin Union system introduced-Double standard abrogated -Single gold standard 1890—

Bank potes-National Bank of Roumania-Notes issued by law of 1890 – 40 per cent. metallic re-




Monetary system like that of Latin Union-Coins-Silver limited legal tender-Country gold
monometallic-Bank of Issue-National Bank of Servia-Location and branch-Issue three times

metallic reserve-Circulation - Metallic reserve.



Monetary unit the silver kran-Coins-Gold-Unit-Circulates only as a commodity-Value of

the toman in United States gold coin-Bank notes-Imperial bank-Head offices at Teheran-

Branches-Incorporated under an English charter-Note issues limit.d to $4,000,000—Coin reserve

at first 50 per cent. - Reduced to 3343.



Silver standard country--Actual currency is cash-Varieties of cash-Depreciation of, measured

in taels - Silver hy weight, medium of exchange in large transactions- Assay of coins-Denom-

inations used in indicating weight of silver-Variat ons in ditferent parts of China-Banks numer-

ous-Capital small and not under Government control-Circulation limited to immediate vicinity.



Currency before and after admission of foreigners-Silver and gold - Early ratio, 1 to 4Ratio

soon changed - The legal money-Basis of new monetary system 1871 the Mexica dollar-Double

standard established-Gold rated too high--Change in coinage, 1872–Actual Japanese standard now

silver-Attempt to drive out the Mexican dollar-Japanese trade dollar discontinued - The silver

yen made legal tender-Drives ont the Mexican dollar -Japan established as a silver country by a

silver loan-Government and bank notes-Gold and silver reserve-Bank votes outstanding.



Single silver standard-Provisions of the monetary system-Mints open to all for coinage of

gold or silver-Charges Government dues payable in any legal coin-Circulation of Mexican sil.

ver dollar-Denominations, fineness and weight of gold and silver coins.



Accounts in Costa Rica, Guatemala, Honduras, Nicaragua and Salvador kept in silver dollars-

Circulation silver supplanted by paper-Guatemala circulation of bank notes, Luncovered-Costa

Rica --Circulation- At par with fractional silver-Honduras–One bank—May issue notes which are

legal tender.



Chile - Legally double standard-Gold all exported – Really on silver basis-Real medium de-
preciated paper - Monetary unit-Coinage restricted to account of State-Free coinage of gold au-

thorized - Actual circulation paper currency and bank notes-Nominal value guaranteed to the ex-

tent of 50 per cent.-Gold at a premium of 250 per cent in 1893-Paper currency to be redeemed in gold

July 1. 1896–Cease to be legal tender after January 1, 1897 – Banks consolidated into Bank of Chile

--Similar to Bank of England - Argentine Republic-Attempt to establish a coinage system. 1875 –

Attempted in 1881 with more succesw-Gold coins full legal tender-Coinage and use of silver re-
stricted - Actual currency depreciated paper-Amount in circulation - Bolivia--Silver standard-
Bank of Bolivia --Circulation-Reserve--Brazil-Gold standard 1819–Gold coins, weight of - Silver
legal tender limited - Present money inconvertible paper-Specie payments suspendel, 1864-bis-
tory of paper issues Banks of issue -- Banco do Brazil - Banco da Republica-- These two united as
Banco da Republica do Brazil-Ultimate liability with the Government-Columbia-Uruguay-Ven-

ezuela-Banks of issue private.




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