A History of Currency in the United States; With a Brief Description of the Currency Systems of All Commercial Nations Volume 3 (Paperback)

This historic book may have numerous typos and missing text. Purchasers can usually download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1915 edition. Excerpt: ...of which assembled in March, a free coinage measure, reported by A. J. Warner (Dem., O.), passed the House by 114 to 97, 6 Republicans favoring and 8 Democrats opposing it. An attempt to limit the coinage to domestic product was defeated by 105 to 130, and one to provide for a 460-grain dollar by 52 to 176. A proposition to make gold and silver certificates legal tender was negatived by 73 to 135. In the Senate the free coinage bill was sent to the Finance Committee, from which it was reported adversely by Senator Bayard at the following session, and a resolution by Senator Vest (Dem., Mo.), declaring free coinage necessary to supply the needed volume of money, was sent to the same committee, for burial, by a vote of 23 to 22, 4 Eastern Democrats voting with the majority. The House passed a resolution, by a vote of 143 to 79, with considerable support from the Republican side, directing the Secretary of the Treasury to pay out the silver dollars in the Treasury the same as gold. A bill was passed at this session (June 9, 1879), for the redemption of subsidiary coin in lawful money and for its issue in exchange for lawful money in sums or multiples of $20. This action was due to the existence of a troublesome surplus of such coin caused, not by excessive coinage, but by the return from abroad of pieces of the old coinage banished during the war period. At this time a bill proposing a solution of the silver question by the minting of a "goloid" dollar containing both metals, was favored by Stephens (Dem., Ga.), formerly Vice-President of the Southern Confederacy. It proposed, also, to adopt the system for international use by coining a four-dollar piece. The measure, however, never got beyond the connnittee stage. In his report...