Indebtedness not funded; " floating debt."
Baltimore & Ohio R. R. Co.
Chicago & Alton R. R. Co.
Chicago, Milwaukee & St. Paul Ry. Co.
Chicago & Northwestern Ry. Co.
Illinois Central R. R. Co.
New York Central & Hudson River R. R. Co.
See " Government Bonds."
See " United States Depository."
See "Government Bonds."
During the Civil War, the United States forced a certain amount of paper currency into circulation, known as " greenbacks" or "United States notes." They are legal tender for all debts, public and private, except duties on imports and interest on the public debt, but this latter restriction amounts to little at the present time, because, upon presentation of any of these notes, the United States Treasury redeems them in gold coin, which coin itself may be used as legal tender for purposes prohibited to " greenbacks."
United States Smelting, Refining and Mining Co., formerly the United States Mining Co.
The "unit of value," as our gold dollar, may not necessarily be coined, but the "unit of account" is the selected unit which itself, and multiples of which, are actually coined. This was the case with our gold dollar before we ceased to coin gold in that denomination, for, on April 2, 1792, Congress established it as the "unit of the money of account " for this country.
The gold dollar is the " unit of value " in this country, and must be of a certain "weight and fineness " (25.8 grains of gold, .900 fine) and by it all values are measured. This is to our money system what the pound is to our system of weights. In like manner the "pound sterling," the "lira," the " yen," etc., are the units of value - or monetary units - of Great Britain, Italy, and Japan respectively. (See "Standard.") Trenholm, in "The People's Money," defines a "unit of value " or " monetary unit " as " a definite weight of a particular metal of a certain fineness, established by law, to be the actual substantive value designated by the term which is the denominational unit of the money system of the country."