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Mexican And Trade Dollars

Mexican And Trade Dollars image
Parent Issue
Day
2
Month
August
Year
1878
Copyright
Public Domain
OCR Text

Treasury Depaktmext, } Office of the Dirkctou of the Mint, L Washington, l. 0., Juiy 25, 187S. ) In consequence of the number ot' inquiries received relativo to the vulue ot' the Mexican silvor dollar and tho terina on wbioh it is received at the mints, fullowingj; infui in.itioii is iiirnishcMl : Section !},óS,'j, Revised Ktatutes United States, doelares that uo " foreigu gold or silver coins ahall b a legal tender in tho paymont of debts." Tho Mexican dollar, therefore, has only a valuó as bullion, whieh dependa npon the price of aüver. At the present price of silver bullion it is worth about 9U.U cents in gold per pioce. lts circulation as money in the Unitud States is optional, and at whatevor value may be agreed upon, The United States triulo dollar also ia not a legal teudor, and therefore, haa only a bullion valuó. Tho standard fiilver dollur being a legal tender tor uil dobts, public and private, is roceived at par at all governuiunt otKces in paymunt of dues, differing in this rcapect from the Huxieau and trade dollars, wbioh are not rticeived. Mexican dollara, aa wull as all othor foieign silver coiua and United States trade dollars, ure purchaaed at the mint at Philadelpha and the assay office at New York, at the equivalent of the Loudon rate lor silver bullion on the day of purchase, less one-half cent per ounce of fine silver contained. All silver coins so purchased are melted and asaayud, and the seller paid for the fine silver coutained in standard silver dollars. All parties desiringtosellforeign sil ver coins or trade dollars to the goveruinont on the above tii ui s will Bend them, at their own expense, to the Superintendent of tho Mint at Philadelphia or of tbe Assay Office at New York ; expresa charges on the silver dollars seut in return also to be paid by tho seller. All correspondence relative to silver coins so sent to be addiessed to the Superintendent of the Mint or Aassy Office to which thoy are forwarded. II. E. LINDEKMAN, Dii'tictor of the Mint. The Potter sub-committee in New Orleans has disbanded. Much of the evidence taken by it was of little importance or not trustwortuy, but the testitnony of a man like Govenor W ckliffe to the tact that thero was uu intiiuidation in Feliciana soeuis to us conclusive on that point. Mr. Wickliffo ia a man iucapable of falsehood and whose word, aa in this case be speaks from actual knowledge, will not be doubted. - New York llerald.

Article

Subjects
Old News
Michigan Argus