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Coinage Act Of 1834
The Coinage Act of 1834 was passed by the United States Congress on June 28, 1834. It raised the silver-to-gold weight ratio from its 1792 level of 15:1 (established by the Coinage Act of 1792) to 16:1 thus setting the mint price for silver at a level below its international market price. The Act redefined the U.S. Eagle coin (ten U.S. Dollars) as containing 232 grains of fine gold, compared to 247.5 grains in the prior Act. This fixed the official basis of the dollar as $20.69 per troy ounce. This standard prevailed until 1933, when the official price rose to $35 as a consequence of the Great Depression. The pure silver content of the silver dollar was left unchanged at 371.25 grains. Historical context On June 28, 1834 the Coinage Act of 1834 was signed by Andrew Jackson. It defined the coin weights and allowed the Treasury Department to pay 5 days after deposit at the mint the full amount of the gold. This sped up the process of getting minted coins for gold. The coinage ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Great Depression
The Great Depression (19291939) was an economic shock that impacted most countries across the world. It was a period of economic depression that became evident after a major fall in stock prices in the United States. The economic contagion began around September and led to the Wall Street stock market crash of October 24 (Black Thursday). It was the longest, deepest, and most widespread depression of the 20th century. Between 1929 and 1932, worldwide gross domestic product (GDP) fell by an estimated 15%. By comparison, worldwide GDP fell by less than 1% from 2008 to 2009 during the Great Recession. Some economies started to recover by the mid-1930s. However, in many countries, the negative effects of the Great Depression lasted until the beginning of World War II. Devastating effects were seen in both rich and poor countries with falling personal income, prices, tax revenues, and profits. International trade fell by more than 50%, unemployment in the U.S. rose to 23% and ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Coinage Act Of 1853
The Coinage Act of 185310 Stat. 160 was a piece of legislation passed by the United States Congress which lowered the silver content of the silver half dime, dime, quarter dollar, and half dollar, and authorized a three dollar gold piece. Although intending to stabilize the country's silver shortage, it, in effect, pushed the United States closer to abandoning bimetallism entirely and adopting the gold standard. Smaller silver denominations in the United States were disappearing as the bullion value of silver far exceeded the face value of U.S. silver coinage. In response, Congress debated a bill which would overvalue most forms of silver coinage and authorize the U.S. Mint to purchase bullion for the new coins. The legislation lowered the silver content of most silver coins by seven percent and was signed into law on February 21, 1853. The 1853 act increased the circulation of small coinage, ending the United States' silver shortage crisis, and provided an adequate supply of s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
United States Federal Currency Legislation
United may refer to: Places * United, Pennsylvania, an unincorporated community * United, West Virginia, an unincorporated community Arts and entertainment Films * ''United'' (2003 film), a Norwegian film * ''United'' (2011 film), a BBC Two film Literature * ''United!'' (novel), a 1973 children's novel by Michael Hardcastle Music * United (band), Japanese thrash metal band formed in 1981 Albums * ''United'' (Commodores album), 1986 * ''United'' (Dream Evil album), 2006 * ''United'' (Marvin Gaye and Tammi Terrell album), 1967 * ''United'' (Marian Gold album), 1996 * ''United'' (Phoenix album), 2000 * ''United'' (Woody Shaw album), 1981 Songs * "United" (Judas Priest song), 1980 * "United" (Prince Ital Joe and Marky Mark song), 1994 * "United" (Robbie Williams song), 2000 * "United", a song by Danish duo Nik & Jay featuring Lisa Rowe Television * ''United'' (TV series), a 1990 BBC Two documentary series * ''United!'', a soap opera that aired on BBC One from 1965-19 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Santa Barbara, California
Santa Barbara ( es, Santa Bárbara, meaning "Saint Barbara") is a coastal city in Santa Barbara County, California, of which it is also the county seat. Situated on a south-facing section of coastline, the longest such section on the West Coast of the United States, the city lies between the steeply rising Santa Ynez Mountains and the Pacific Ocean. Santa Barbara's climate is often described as Mediterranean climate, Mediterranean, and the city has been dubbed "The American Riviera". According to the 2020 United States census, U.S. Census, the city's population was 88,665. In addition to being a popular tourist and resort destination, the city has a diverse economy that includes a large service sector, education, technology, health care, finance, agriculture, manufacturing, and local government. In 2004, the service sector accounted for 35% of local employment. Education in particular is well represented, with four institutions of higher learning nearby: the University of Calif ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Coinage Act Of 1965
The Coinage Act of 1965, , eliminated silver from the circulating United States dime (ten-cent piece) and quarter dollar coins. It also reduced the silver content of the half dollar from 90 percent to 40 percent; silver in the half dollar was subsequently eliminated by a 1970 law. There had been coin shortages beginning in 1959, and the United States Bureau of the Mint expanded production to try to meet demand. The early 1960s was a time of increased use of silver both in the coinage and in industry, putting pressure on the price of silver, which was capped at just over $1.29 per ounce by government sales at that price. The silver in a dollar's worth of quarters would be worth more as bullion than as money if the price of the metal rose past $1.38 per ounce, and there was widespread hoarding of silver coins. Demand for the Kennedy half dollar as a collectable drove it from circulation after its debut in 1964. The Bureau of the Mint increased production, helping reduce the coin s ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Coinage Act Of 1873
The Coinage Act of 1873 or Mint Act of 1873, was a general revision of laws relating to the Mint of the United States. By ending the right of holders of silver bullion to have it coined into standard silver dollars, while allowing holders of gold to continue to have their bullion made into money, the act created a gold standard by default. It also authorized a Trade dollar, with limited legal tender, intended for export, mainly to Asia, and abolished three small-denomination coins. The act led to controversial results and was denounced by critics as the "Crime of '73". By 1869, the Mint Act of 1837, enacted before the California gold rush or the American Civil War affected the monetary system of the United States, was deemed outdated. Treasury Secretary George Boutwell had Deputy Comptroller of the Currency John Jay Knox draft a revised law, introduced into Congress by Ohio Senator John Sherman. Silver's market price then exceeded the value at which the Mint would purchase the ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Coinage Act Of 1864
The Coinage Act of 1864 was a United States federal law passed on April 22, 1864, which changed the composition of the one-cent coin and authorized the minting of the two-cent coin. The Director of the U.S. Mint developed the designs for these coins for final approval of the Secretary of the Treasury. As a result of this law, the phrase "In God We Trust" first appeared, on the 1864 two-cent coin. An Act of Congress, passed on March 3, 1865, allowed the Mint Director, with the Secretary's approval, to place the phrase on all gold and silver coins that "shall admit the inscription thereon." In 1956, "In God We Trust" replaced ''"E Pluribus Unum"'' as the national motto. All currency was printed and minted with the new motto. See also *Coinage Act of 1792 *Coinage Act of 1834 *Coinage Act of 1849 *Coinage Act of 1853 *Coinage Act of 1857 *Coinage Act of 1873 *Coinage Act of 1965 The Coinage Act of 1965, , eliminated silver from the circulating United States dime (ten-cent piec ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Coinage Act Of 1857
The Coinage Act of 1857 (Act of Feb. 21, 1857, Chap. 56, 34th Cong., Sess. III, 11 Stat. 163) was an act of the United States Congress which ended the status of foreign coins as legal tender, repealing all acts "authorizing the currency of foreign gold or silver coins". Specific coins would be exchanged at the Treasury and re-coined. The act is divided into seven sections. Background Before the Act, foreign coins, such as the Spanish dollar, were widely used Murray N. Rothbard"The Mystery of Banking"(pdf), p.10, 1983-11-28. and allowed as legal tender by the Act of April 10, 1806.Library of Congress"An Act regulating the currency of foreign coins in the United States" passed on April 10, 1806, referenced 2009-08-24. The Coinage Act of 1857 also discontinued the half cent. Furthermore, the penny was reduced in size. The large cent was discontinued and regular coinage of the Flying Eagle cent began. History In the newly created union after the Revolutionary War and up until 179 ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Coinage Act Of 1849
The Coinage Act of 1849 was an Act of the United States Congress passed during the California Gold Rush authorizing the Mint to produce two new gold coins in response to the increased gold supply: the small gold dollar and the large double eagle worth twenty dollars. The Act also defined permissible variances in gold coinage. Background Legislation House Bill No. 746 was introduced by James Iver McKay on January 25, 1849. On February 20, 1849, the bill was reported by the United States House Committee on Ways and Means and taken up by the House for debate. The bill passed the House the same day and moved to consideration in the Senate. On March 3, 1849, the bill was reported by the United States Senate Committee on Finance and taken up by the Senate for debate. The bill passed the Senate the same day with amendments and was sent back to the House for consideration. The House agreed to the amendments and the bill was signed into law by President James K. Polk. Effects Se ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Grain (unit)
A grain is a unit of measurement of mass, and in the troy weight, avoirdupois, and apothecaries' systems, equal to exactly milligrams. It is nominally based upon the mass of a single ideal seed of a cereal. From the Bronze Age into the Renaissance, the average masses of wheat and barley grains were part of the legal definitions of units of mass. Expressions such as "thirty-two grains of wheat, taken from the middle of the ear" appear to have been ritualistic formulas, essentially the premodern equivalent of legal boilerplate. Another source states that it was defined such that 252.458 units would balance of distilled water at an ambient air-water pressure and temperature of and respectively. Another book states that Captain Henry Kater, of the British Standards Commission, arrived at this value experimentally. The grain was the legal foundation of traditional English weight systems, and is the only unit that is equal throughout the troy, avoirdupois, and apothecaries' sys ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
Coinage Act Of 1792
The Coinage Act of 1792 (also known as the Mint Act; officially: ''An act establishing a mint, and regulating the Coins of the United States''), passed by the United States Congress on April 2, 1792, created the United States dollar as the country's standard unit of money, established the United States Mint, and regulated the coinage of the United States. This act established the silver dollar as the unit of money in the United States, declared it to be lawful tender, and created a decimal system for U.S. currency. By the Act, the Mint was to be situated at the seat of government of the United States. The five original officers of the U.S. Mint were a Director, an Assayer, a Chief Coiner, an Engraver, and a Treasurer (not the same as the Secretary of the Treasury). The Act allowed that one person could perform the functions of Chief Coiner and Engraver. The Assayer, Chief Coiner and Treasurer were required to post a $10,000 bond with the Secretary of the Treasury. The Act peg ... [...More Info...] [...Related Items...] OR: [Wikipedia] [Google] [Baidu] |
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