When the silver dollar was first coined, and indeed up to the present date, the intention was that it should contain about a dollar's worth of silver, or 374 1/4 Troy grains of the pure metal. This amount of silver was supposed to represent permanently 24 3/4 grains of pure gold, and it did so represent its value at one time, and would have continued to do so, had the relative output of both metals been the same. Our chief mint is in Philadelphia, where is coined all the copper, nickel, silver, and gold money in use. To imitate these metals, even where the full value is given, constitutes the criminal offence called "counterfeiting." In former times, some of our older readers will remember them, the Government meant to have the metal in each coin of about its unstamped value in the market. In those days the cent was as large as our present silver half dollar, and the copper two-cent piece was a monster in the way of coinage. Now our copper and nickel coins are small and can be carried without testing strength of pockets. They are regarded as money "tokens." Silver coins that are punched can be refused in the settlement of a debt. Punched gold coins should always be refused, for they are never of their face value. Silver coins may be used in the settlement of bills up to $5.00. Gold coins are, of course, legal tender up to any amount. PAPER MONEY We usually class all paper money as "bills." There are three classes of bills, all quite different in their inception and meaning. These are-- 1. National bank notes. 2. Treasury notes or "greenbacks." 3. Treasury certificates. BANK NOTES A national bank note is the guaranteed promise of some national bank to pay coin or its equivalent to any one presenting the note at the bank and asking to have the exchange made. This exchange is called "redeeming." If you examine a bank bill you will notice that it is drawn much like an ordinary business "demand" note, made payable to "bearer," and signed by the bank president and cashier. For every dollar of its own sent out in the form of a bill by a national bank, the Government holds a dollar of the bank's collateral to guarantee the redemption of the note if the bank should fail. National bank notes are received in all business transactions, because they are secured by the Government, yet there are cases in which even the Government will not receive them in payment of a claim, nor pay them out itself. 1. All import duties must be paid in gold. 2. The Government pays the interest on its own bonds in gold. The Bureau of Engraving and Printing--a department of the United States Treasury--makes and prints all the national bank notes. On all these notes the names of the United States Treasurer and the United States Register appear. The names look like signatures, but they are facsimilies and are printed with the note. The notes are printed on specially prepared paper, to imitate which is regarded as a counterfeit.