Word: tenderly
(lookup in dictionary)
(lookup stats)
Dates: during 1890-1899
Sort By: most recent first
(reverse)
...still, bimetallism might embrace the considertion of everything which relates to the cost and conditions of production of gold and silver; to their consumption and use; to the economic principles governing prices; to the legal regulations as to the export of precious metals, to coinage and seigniorage, to legal tender in payment of debt;- all these as far as they affect the relation of the two metals named in their use as money...
...treasury and exchanged for silver certificates. Owing to the clumsiness of the silver dollar this is actually what has taken place, so that the certificates are much more numerous than the dollars. But, as this was not the expectation in 1878, the silver certificates were not made legal tender. As they constitute no claim upon the holdings of the government except for silver, the only way they effect the legal tender situation is to fill up a gap, which would otherwise be filled by gold coin...
...gold of class 4 includes the bullion in the treasury and is of two kinds (a) gold in the banks and among the people and (b) gold in the treasury, which may be drawn out by legal tender notes...
...illustration of the hap-hazard legislation in the United States is that practically the whole mass of paper money is made to depend for convertibility upon gold. For the legal tender notes are redeemable in gold and the silver certificates, circulating side by side, are practically as good as legal tenders and the national bank notes are convertible into the latter. But the United States has never been able to find an effective method for maintaining the gold reserve. In fact, the trouble lies in the fact that the U. S. treasury performs two functions that should never be united...
...sort is going on, in fact. The U. S. treasury has begun to accumulate these notes and to store them away in vaults If the government had had a surplus revenue in 1893 and 1895 the solution of their difficulties would have been simple enough; for, after redeeming legal tender notes they could have put them aside. This was done in 1884-5, when the secretary of the treasury, having a large surplus, held back the silver dollars...