J. Laurence Laughlin,
The History of Bimetallism in the United States 
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About this Title:
Laughlin states in the introduction that his aim is “to present only the facts bearing on the experiments of the United States with metallic money. No special attention, therefore, has been devoted to the theory of bimetallism or to the larger principles of money involved in current discussions. In a historical study, such as this aims to be, there is neither space nor propriety for an extended treatment of principles.”
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This material is put online to further the educational goals of Liberty Fund, Inc. Unless otherwise stated in the Copyright Information section above, this material may be used freely for educational and academic purposes. It may not be used in any way for profit.
Table of Contents:
Fourth Edition, with New Appendices,
A Study on the Fall of Silver Since 1885, and the Experience of the United States with Silver Since 1878
To M. M. L.
Preface to the Fourth Edition
Preface to the First Edition
Part I: THE UNITED STATES, 1792-1873
Part I, Chapter I: The Arguments of Bimetallists and Monometallists
Part I, Chapter II: The Silver Period, 1792-1834
Part I, Chapter III: Cause of the Change in the Relative Values of Gold and Silver, 1780-1820
Part I, Chapter IV: Change of the Legal Ratio by the Act of 1834
Part I, Chapter V: The Gold Discoveries and the Act of 1853
Part I, Chapter VI: The Gold Standard, 1853-1873
Part I, Chapter VII: The Demonetization of Silver
Part II: THE LATE FALL IN THE VALUE OF SILVER
Part II, Chapter VIII: The Production of Gold since 1850
Part II, Chapter IX: India and the East
Part II, Chapter X: Germany Displaces Silver with Gold
Part II, Chapter XI: France and the Latin Union
Part II, Chapter XII: Cause of the Late Fall in the Value of Silver
Part II, Chapter XIII: The Continued Fall in the Value of Silver since 1885
Part III: THE UNITED STATES SINCE 1873
Part III, Chapter XIV: Silver Legislation in 1878
Part III, Chapter XV: Operation of the Act of 1878
Part III, Chapter XVI: Act of 1890
Part III, Chapter XVII: Cessation of Silver Purchases, 1893
A. Production of Gold and Silver in the World, 1493-1850.
B. Annual Production of Gold and Silver in the World, 1850-1875.
C. Production of Gold and Silver in the World, 1851-1875.
D. Production of Gold and Silver in the World Annually since 1875.
E. Production of Gold and Silver in the United States since 1873.
Relative Values of Gold and Silver
A. Average Ratios of Silver to Gold, by Periods, since 1500.
B. Ratios of Gold to Silver, given Yearly since 1687.
C. Pixley and Abell's Tables of the Average Annual Ratios of Gold to Silver since 1833.
D. Average Yearly Price of Standard Silver per Ounce in London since 1833.
E. Monthly Quotations of Bar-Silver per Ounce Standard, in Pence, at London, since 1871.
F. Ratios of Silver to Gold, by Months, since 1845.
G. Method of Computing the Ratio from the London Price of Silver.
Method of Computing the Value of a Silver Dollar from New York Quotations.
A. Value of the 371¼ Grains of Pure Silver in the Silver Dollar corresponding to Prices of Fine Silver per Ounce.
B. Ratios between Gold and Silver corresponding to Market Prices of an Ounce of Fine Silver.
C. Annual Average Market Value of 371¼ Grains of Pure Silver since 1834.
D. Purchasing Power of the Silver Dollar over Silver Bullion.
E. Operation of the Act of February 28, 1878.
F. Operation of the Act of July 14, 1890 ("The Sherman Act").
Appendix IV, Coinage Laws
A. Laws of the United States relating to Coinage.
I. APRIL, 1792.—An Act establishing a Mint, and regulating the Coins of the United States.
II. JUNE, 1834.—An Act concerning the gold coins of the United States, and for other purposes.
III. JANUARY, 1837.—An Act supplementary to the act entitled "An Act establishing a Mint, and regulating the coins of the United States."
IV. MARCH, 1849.—An Act to authorize the Coinage of Gold Dollars and Double Eagles.
V. FEBRUARY, 1853.—An Act amendatory of Existing Laws relative to the Half-Dollar, Quarter-Dollar, Dime, and Half-Dime.
VI. FEBRUARY, 1873.—An Act revising and amending the Laws relative to the Mints, Assay-offices, and Coinage of the United States.
VII. JUNE, 1874.—Revised Statutes of the United States; Title XXXIX, Legal Tender.
VIII. JANUARY, 1875.—An Act to provide for the Resumption of Specie Payments.
IX. APRIL, 1876.—Issue of Silver Coin.
X. JULY, 1876.—Joint Resolution for the Issue of Silver Coin.
XI. FEBRUARY, 1873.—An Act to authorize the coinage of the standard Silver Dollar, and to restore its legal-tender character.
XII. JUNE, 1879.—An Act to authorize the redemption of Silver Coins.
XIII. JULY 14, 1890.—An Act directing the purchase of silver bullion and the issue of Treasury notes thereon, and for other purposes.
XIV. NOVEMBER 1, 1893.—An Act to repeal a part of an act approved July fourteenth, eighteen hundred and ninety, entitled "An act directing the purchase of silver bullion and the issue of Treasury notes thereon, and for other purposes."
B. French Monetary Law of 1803.
Of the fabrication of coins.
C. GERMAN MONETARY LAWS OF 1871 AND 1873.
German Reichstag, 1st Legislation Period, 2d session, 1871. Law relating to the coinage of imperial gold coins, as passed by Parliament after its third reading.
D. Treaty between Switzerland, Belgium, France, and Italy concerning the Monetary Union.
Treaty of Latin Union, 1885.
Arrangement Relative to the Execution of Article 14 of the Treaty of November 6, 1885.
Act Dated December 12, additional to the Monetary Treaty signed November 6, 1885, between France, Greece, Italy, and Switzerland.
E. Plan for the Resumption of Specie Payments, laid before the Chamber of Deputies by the Italian Government,2 November 15, 1880.
F. Austrian Monetary Reform.3
ACT I. Act of August 2, 1892, for the Introduction of the Crown Standard.
ACT II. Authorizing the ministry of the kingdoms and lands represented in the Reichsrath to conclude a treaty for monetary union with the ministry of the lands of the Hungarian crown. August 2, 1892.
ACT III. Concerning the fulfillment of obligations payable in gold florins of the Austrian standard in gold corns of the crown standard. August 2, 1892.
ACT IV. Amending Article 87 of the Statutes of the Austro-Hungarian Bank. August 2, 1892.
ACT V. Authorizing a loan for securing a supply of gold for the coinage of gold coins of the crown standard, and specifying the disposition and control of the newly issued coins. August 2, 1892.
ACT VI. Authorizing the refunding of the 5-per-cent tax-free currency bonds, the 5-per-cent railway bonds of the Vorarlberg road, and the 4¾-per-cent bonds of the Crown Prince Rudolf road.
Appendix V, Coinage Statistics
Coinage of Gold and Silver, from the Organization of the United States Mint.
Coinage of Gold and Silver at the French Mint since 1795.
Coinage of Gold and Silver at the Belgian Mint since 1832.
Coinage of Gold and Silver at the Italian Mint since 1862.
Coinage of Gold and Silver at the English Mint.
Coinage of Gold and Silver at the German Mint.
Coinage of Gold and Silver in Russia.
Flow of Silver to the East
Exports and Imports of Silver from the United States since 1870.
Consumption of the Precious Metals in the Arts.
The World's Industrial Consumption of Gold and Silver in 1895.