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The Coinage Act of 4 December 1871 [1] specified the gold content of the new common currency, the imperial gold coin, which was to be used by all state monetary systems from 9 July 1873. The Mark was introduced throughout the Empire on 1 January 1876. [2] The act was amended on June 1, 1900. [3]
The mark was on the gold standard from 1871 to 1914, but like most nations during World War I, the German Empire removed the gold backing in August 1914, and gold [1] coins ceased to circulate. After the fall of the Empire due to the November Revolution of 1918, the mark was succeeded by the Weimar Republic 's mark, derisively referred to as ...
The Legal Tender Cases primarily involved the constitutionality of the Legal Tender Act of 1862, 12 Stat. 345, enacted during the American Civil War. [1] The paper money depreciated in terms of gold and became the subject of controversy, particularly because debts contracted earlier could be paid in this cheaper currency. [2]
In an 8–1 decision resting largely on prior court cases, particularly the jointly-decided cases Knox v.Lee (1871) and Parker v.Davis (1871), [2] the power "of making the notes of the United States a legal tender in payment of private debts" was interpreted as "included in the power to borrow money and to provide a national currency".
In October 1871, under the Morrill Act, using federal marshals, Grant prosecuted hundreds of Utah Territory Mormon polygamists. [292] Grant called polygamy a "crime against decency and morality". [293] In 1874, Grant signed into law the Poland Act, which made Mormon polygamists subject to trial in District Courts and limited Mormons on juries ...
The gold dollar or gold one-dollar piece is a gold coin that was struck as a regular issue by the United States Bureau of the Mint from 1849 to 1889. The coin had three types over its lifetime, all designed by Mint Chief Engraver James B. Longacre. The Type 1 issue has the smallest diameter (0.5 inch =12.7mm) of any United States coin minted to ...
[7] [8] In 1986, the federal government introduced the American Gold Eagle coin series, the first gold money produced by the United States since the Great Depression. These coins are legal tender at their face value but the Mint offers them only as collectibles at their much higher bullion value, not as a form of payment by the government.
The gold reserves of the Bank of France had been moved out of Paris for safety in August 1870, in addition to 88 million francs in gold coins and 166 million francs in banknotes. When the Thiers government left Paris in March, they did not have the time or the reliable soldiers to take the money with them.