and the adjacent countries
The American Trade dollar was
first
authorized by the United States Coinage Act
of 1873, Section 15 of which provides that in Common with the other silver coins of the
United States it should be legal tender at
it's nominal value for any amount not exceeding five dollars. The Report of the Director of the Mint for the fiscal year ended 30th
th June 1873,
however, sap:
"The Trade - dollar of silver
authorized by the Coinage Act is designed
has no fixed
expressly for export, and has no
value as
compared with gold. It is in no proper sense
a monetary standard
Having been made at
or unit of account.
been made a legal tender in limited
comounts it may eventually, if the price of
silver relative to gold fallo sufficiently, to some
extent
142
extent enter into home circulation, but its export
value will
always
be in
exces of that of the
subsidiary silver coin, its bullion value being
about 82 per cent
in
excess Again in his
pays.
Report for 1874-75 the Director Easter part of
the
6
In the
year 1872, it became apparent
that the change in the German monetary system
and other caused affecting the demand and supply
would produce a serious decline in the value
silver and imperiously affect
our silver/mining interest . To provide a market for the silver
mined in the western portion of our County,
coin of a standard likely to make it acceptable
but why 420 ps in China,
the hurrican
how! 616 ?
year 1873.
have
authorized early in the following
Ultimately China must
a national coinage of silver, and in the
meantime a more
a more extensive use of the silver coins
al
де
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