Monthly Consular and Trade Reports Volume 62, Nos. 232-235 ebook

Monthly Consular and Trade Reports Volume 62, Nos. 232-235 ebook

Monthly Consular and Trade Reports Volume 62, Nos. 232-235.cUnited States Manufactures
Monthly Consular and Trade Reports Volume 62, Nos. 232-235
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Author: United States Manufactures
Number of Pages: 250 pages
Published Date: 01 Mar 2012
Publisher: Rarebooksclub.com
Publication Country: Miami Fl, United States
Language: English
ISBN: 9781130291070
Download Link: Monthly Consular and Trade Reports Volume 62, Nos. 232-235
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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1900 Excerpt: ... viz. "That the value of foreign coins, as expressed in the money of account of the United States, shall be that of the pure metal of such coin of standard value," and that "the value of the standard coins in circulation of the various nations of the world shall be estimated annually by the Director of the Mint, and be proclaimed on the 1st day of January by the Secretary of the Treasury." In compliance with the foregoing provisions of law, annual statements were issued by the Treasury Department, beginning with that issued on January 1, 1874, and ending with that issued on January 1, 1890. Since that date, in compliance with the act of October 1, 1890, these valuation statements have been issued quarterly, beginning with the statement issued on January 1, 1891. The fact that the market exchange value of foreign coins differs in many instances from that given by the United States Treasury has been repeatedly called to the attention of the Bureau of Foreign Commerce. An explanation of the basis of the quarterly valuations was asked from the United States Director of the Mint, and under date of February 7, 189S, Mr. R. E. Preston makes the following statement: "When a country has the single gold standard, the value of its standard coins is estimated to be that of the number of grains fine of gold in them, 480 grains being reckoned equivalent to $20.67 n United States gold, and a smaller number of grains in proportion. When a country has the double standard, but keeps its full legal-tender silver coins at par with gold, the coins of both gold and silver are calculated on the basis of the gold value. "The value of the standard coins of countries with the single silver standard is calculated to be that of the average market value of...

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