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MONEY

AND

LEGAL TENDER

IN THE

UNITED STATES

BY

H. R. LINDERMAN

DIRECTOR OF THE MINT

NEW YORK
G. P. PUTNAM'S SONS
182 FIFTH AVENUE

1877

HARVARD
UNIVERSITY

LIBRARY

COPYRIGHT,

1877,
By G. P. PUTNAM's SONS.

PREFACE.

VARIOUS questions connected with the subject of Money and Legal Tender in the United States are receiving the earnest and careful consideration of the public. This is especially the case with respect to the question whether the full legal-tender coins shall be gold only, or both gold and silver in a relative valuation of the two metals fixed by law.

For about seventeen years the money in circulation has been (except as to the States of California and Nevada, where the gold standard has been maintained), United States Legal-Tender Notes based on the credit and resources of the nation, and National Bank Notes secured by a deposit of United States Bonds; and neither of these descriptions of notes redeemable in coin.

Until recently, the subject of bringing this cur

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