Proceedings of the ... Annual Meeting of the National Board of Trade, Volume 9J. H. Eastburn's Press, 1877 - Transportation |
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abrogation action ad valorem adopted agreed ALLEN amendment American appointed Baltimore bankrupt law believe bills of lading Board of Trade bond Boston Britain Buffalo buy ships Canada cent Chamber of Commerce Chicago Cincinnati citizens coin coinage committee Congress consideration constituent body currency delegates desire Detroit Dominion Board DORR Dubuque duties EGAN Executive Council favor feel foreign GANO gentlemen gold HAYES hope important interests jurisdiction labor Latin Union legal tender manufactured matter McLAREN meeting ment merchants Milwaukee National Board navigation Philadelphia PHINEAS JONES port present PRESIDENT proper proposition question railroad reciprocity treaty referred remonetization repeal resolution Resolved resumption Resumption Act ROPES Secretary read session ship-building ship-owning silver dollar specie payments STRANAHAN submitted tariff TAYLOR thing tion to-day transportation unanimously United valorem vessels vote WETHERILL WINSOR York
Popular passages
Page xiii - And on and after the first day of January, anno Domini, eighteen hundred and seventy-nine, the Secretary of the Treasury shall redeem, in coin, the United States legal tender notes then outstanding, on their presentation for redemption at the office of the assistant treasurer of the United States in the city of New York, in sums of not less than fifty dollars.
Page 198 - To annul the use of either of the metals, as money, is to abridge the quantity of circulating medium; and is liable to all the objections wliich arise from a comparison of the benefits of a full, with the evils of a scanty, circulation.
Page 198 - On the whole," says Mr. Hamilton, "it seems most advisable not to attach the unit exclusively to either of the metals, because this cannot be done effectually without destroying the office and character of one of them as money and reducing it to the situation of mere merchandise.
Page 197 - State, corresponds also with 24 grains and £ of a grain of fine gold ; and with something between ;U>8 and 374 grains of fine silver. The next inquiry towards a right determination of what ought to be the future money unit of the United States, turns upon these questions: Whether it ought to be peculiarly attached to either of the metals, iu preference to the other or not ? and, if to either, to which of them...
Page 198 - August, 1786, fixes that dollar at 375 grains and 64 hundredths of a grain of fine silver. The same resolution, however, determines, that there shall also be two gold coins, one of 246 grains and 268 parts of a grain of pure gold, equal to ten dollars, and the other of half that quantity of pure gold, equal to five dollars...
Page 198 - But, upon the whole, it seems to be most advisable, as has been observed, not to attach the unit exclusively to either of the metals, because this cannot be done effectually without 8 destroying the office and character of one of them as money and reducing it to the situation of...
Page 198 - ... quarters, but which would probably be a greater evil than occasional variations in the unit, from the fluctuations in the relative value of the metals ; especially if care be taken to regulate the proportion between them with an eye to their average commercial value.
Page xiv - That the Treasury notes issued in accordance with the provisions of this act shall be redeemable on demand, in coin, at the Treasury of the United States, or at the office of any assistant treasurer of the United States, and when so redeemed may be reissued; "but no greater or less amount of such notes shall be outstanding at any time than the cost of the silver bullion and the standard silver dollars coined therefrom, then held in the Treasury purchased by such notes ; and such Treasury notes shall...
Page 25 - Board here named shall be by ballot, and a majority of all the votes cast shall be necessary to elect.
Page 195 - French valuation, the weight of the half-dollar shall be 179 grains, equivalent to 116 decigrammes; and the lesser coins be in due proportion, and the fineness shall be nine-tenths. But the coinage of silver pieces of one dollar, five cents, and three cents shall be discontinued. " Sec. 3. And be it further enacted, That the gold coins to be issued under this act shall be a legal tender in all payments to any amount; and the silver coins shall be a legal tender to an amount not exceeding ten dollars...