Synopses & Reviews
Synopsis
Excerpt from Real Bi-Metallism or True Coin Versus False Coin: A Lesson for Coin's Financial School
At present these silver dollars are legal ten der at their nominal value to any amount. But the coinage of them has been practically stopped. The faith of the government is pledged to main tain those that have been coined, on a parity with gold, at the ratio of sixteen to one. This means that practically the holder of silver dol lars can exchange them at the United States Treasury, at their nominal value, for gold. They are really credit money. That is, their nominal value is maintained, just as that of the Treasury notes, or greenbacks, is maintained, by the credit of the United States Government.
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