DOLLAR. The unit of value in the monetary systems of the United States and Canada. The name itself is derived from .Toachimsthal, in Bo hemia, where the counts of Schlick, in the fif teenth century, struck large coins of silver from the metal found in the neighborhood. These were known as Vouellimsibuler,' or, by abbreviation, `thalcr2 from which, through the Low German dater, the word dollar is derived.
Among the multitude of coins which prevailed before the present century, certain issues came to be regarded as standard by reason of the ex cellence of their manufacture, and became inter national coins of wide circulation. It was this that a valley in the recesses of the Bohemian mountains gave the name to the monetary unit of Prussia before the establishment of the German Empire. and to that of the T'nited States. Canada, 'Mexico, and other countries. Somewhat similar is the derivation of the term 'florin,' familiar in the Netherlands and Austria. and represented in the English coinage. from coins manufactured in the Middle Ages in Florence.
The American dollar, established by the Coin age Act of 1792, was taken from the Spanish dollar in circulation in the colonies, correspond ing roughly to the average weight of the dollar, though it was slightly less than the legal weight.
While the dollar, since 1792, has been the unit of value in the United States, it was, prior to IS73, but little represented by coins of this de nomination. The silver dollar, by the act of 1792, weighed 416 grains, and had a fineness of .S1124. This was changed by the act of January 18, 1S37, to grains, .900 tine, at which it still remains, although a number of silver dollars, called Erode dollars, 420 grains each, were in 1873. in order to facilitate trado with China and Japan. Prior to 1S73 only 8,031, were coined. Large amounts of the half-dollars, which were then exactly half the size of the dollar, were, however. coined. Further coin age of the silver dollar was authorized by the acts of February 28. 1878, and July 14, 1890. Gold dollars. weighing 25.S grains, with a fineness of .900. were authorized to be coined by the act of March 3, 1849, and over 19,000,000 were thus coined before the coinage was discontinued (September 26, 1890). By the act of March 14, 1900, the gold dollar was declared to he the stan dard of value in the United States, but no pro vision was made for the issue of a coin corre sponding to the unit. See MoNEr.