Home >> Bouvier's Law Dictionary >> Safe to Smuggling >> Silver

Silver

act, ch, dollar and authorized

SILVER. The legislation on the subject of silver coinage is stated up to that date in a note to R. S. 1 Supp. 774, which with the addition of legislation subsequent to that date is as follows: Laws on silver coinage are as follows: By R. S. 3513, 3516, the silver coins of United States are limited to a trade dollar, a half dollar, a quarter dollar, and a dime. By 3526 silver bullion is to be purchased with the bullion fund. 3586 the silver coins of the United States are legal tender in amounts not exceeding $5. By act of 1875, Jan. 14, ch. 15, fractional sil ver is to be issued in redemption of fraction al currency. By act of 1876, April 17, ch. 63, this is repeated with some amendments. By Res. No. 17, of 1876, July 22, the silver coin in the treasury is to be issued in ex change for legal tender notes. The issue of fractional silver to fifty million dollars is authorized. By act of 1878, Feb. 28, ch. 20, the coinage of the standard silver dollar and the issuance of silver certificates of $10 or over is authorized. By act of 1879, June 9, ch. 12, fractional silver and lawful money of the United States may be reciprocally ex changed at the treasury or any sub-treasury in sums of $20, and fractional silver is made legal tender up to $10. By act of 1882, Au gust 7, eh. 433, par. 5, free transportation

of silver coins is authorized. By act of 1887, March 3, ch. 362, the issuance of silver cer tificates of one, two, and five dollars is au thorized in lieu of higher denominations.

March 4, 1907, provision was made that whenever the outstanding silver certificates of certain small denominations are insuffi cient to meet the public demand therefor, an equal amount' of United States notes of high er denominations may be retired and cancel led and such certificates of smaller denomina tions issued. U. S. R. S. 3526.

By act of July 14, 1890, the purchasing clause of the act of 1878 was repealed and the secretary of the treasury was authorized to purchase not to exceed 4,500,000 ounces of silver per month and to issue in payment therefor treasury notes. By act of 1890, Sept. 26, ch. 944, changes in the design of coins are authorized. The trade dollar was declared not a legal tender by Res. No. 17, of 1876, July 22, and by act of 1887, March 3, ch. 396, 2 (24 Stat. L. 643), its coinage was terminated and its redemption and re coinage into standard dollars was directed. By act of 1893, Nov. 1, the purchasing clause of the act of July 14, 1890, was repealed.