Money and Legal Tender in the United States

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G. P. Putnam's Sons, 1877 - Currency question - 173 pages

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Page 7 - The United States in congress assembled shall also have the sole and exclusive right and power of regulating the alloy and value of coin struck by their own authority, or by that of the respective states..
Page 7 - ARTICLE II. Each state retains its Sovereignty, freedom and independence, and every Power, Jurisdiction and Right, which is not by this confederation expressly delegated to the United States in Congress assembled. ARTICLE III. The said states hereby severally enter into a firm league of friendship with each other, for their common...
Page 84 - States in payment of taxes, excises, public lands, and all other dues to the United States, except for duties on imports; and also for all salaries and other debts and demands owing by the United States to individuals, corporations, and associations within the United States, except interest on the public debt, and in redemption of the national currency.
Page 89 - ... the faith of the United States is solemnly pledged to the payment in coin or its equivalent of all obligations of the United States...
Page 65 - ... lawful money and a legal tender in payment of all debts, public and private, within the United States, except duties on imports and interest as aforesaid.
Page 87 - July, 1862; which is to be set apart as a sinking fund; and the interest of which shall in like manner be applied to the purchase or payment of the public debt, as the Secretary of the Treasury shall from time to time direct.
Page 82 - States, in sums not less than twenty dollars, and to issue certificates therefor in denominations of not less than twenty dollars each, corresponding with the denominations of United States notes. The coin deposited for or representing the certificates of deposit shall be retained in the Treasury for the payment of the same on demand. Said certificates shall be receivable for customs, taxes and all public dues, and when so received may be reissued...
Page 8 - The Congress shall have power . . . to coin money, regulate the value thereof, and of foreign coins, and fix the standard of weights and measures, ... to provide for the punishment of counterfeiting the securities and current coin of the United States.
Page 72 - That the value of foreign coin as expressed in the money of account of the United States shall be that of the pure metal of such coin of standard value; and the values of the standard coins in circulation of the various nations of the world shall be estimated quarterly by the Director of the Mint, and be proclaimed by the Secretary of the Treasury immediately after the passage of this Act and thereafter quarterly on the first day of January, April, July and October in each year.
Page 41 - SEC. 14. That the gold coins of the United States shall be a one-dollar piece, which, at the standard weight of twenty-five and...

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