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Guttags Foreign Currency and Exchange Guide

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Guttags Foreign Currency and Exchange Guide Gaze? P R E F A C E Since the World War 1 914 - 1 9 1 8 a greater interest gen erally has been created in For eign E s Monies and xchange , and from que tions whi ch have been put to the publishers in the course of business it appears that a book such as this is needed . It is not our intention to publish a Text n book o this subject, but to provide a Ready Reference of complete up- to - date information such as experience has taught us Will be equally helpful to Banker, Merchant , Numis ma ti st , Student , and The Man in the Street . To this end technicalities have been avoided and the Whole mod eled on a comprehensive Whilst every endeavor has been made to present the facts correctly it is possible that there are errors in the text ; we would appre n ciate any such bei g brought to our attention . GUTTA G BROTHERS . FOREIGN CURRENCY AND EXCHANGE GUIDE UNITED STATES OF AMERICA Gold Standard Unit : Dollar 1 00 Cents Mills . COINS Copper Cent No longer coined . C ents Bron ze Cent Nickel No longer coined . Nickel . No longer coined . Dime . No longer coined . Quarter . Half Dollar . Dollar Trade Dollar No lon ger coin ed and worth only Bullion valu e . Dollar 1 No longer coined . Dollars Quarter Eagle . No longer coined . 3 No longer coined . 4 Pattern . 5 Half Eagle . 1 0 Eagle . 2 0 Double Eagle . 50 Pattern . ( See outside cover . ) is a n Gold legal t ender to y amount . The Silve r Dollar is l egal t end e r to any amount ; sub sid ia ry silver to a ny amount not exce eding and minor coin to an amount of 2 5C . FOREIGN CURRENCY AND EXCHANGE GUIDE The name Trade Dollar was given to a coin weighing 42 0 grains Troy which was authorized by an Act of Febru ary n 1 2 th , 1 873 . This piec e was i stituted to compete with the Mexican silver dollar in the Orient and to stimulate trade with China . Although the Trade Dollar was intrinsically of greater value than the Mexican Dollar it did not fulfill expectations and was discontinued in 1 878 . Proofs were issued as late as 1 885 and further coinage was prohibited by an Act of Feb r f ua ry 1 9th , 1 887 . At the present time the Trade Dollar is o value only as Bullion . NO : h TES Notes issued by the Government, and by t e l e National Banks , and the Federa Reserv Banks under Gov rn m n e e t Regulation are of many kinds . Those principally cur rent today a re SILVER CERTIFICATES OF DEPOSIT authorized n by an Act of Co gress February 2 8th , 1 878, and subsequent Acts , in denominations of 500 , 1 0 5 1 0 , 0 , 0 , 5 , 2 and 1 . The last issue comprises denominations of $5 , $2 and $ 1 only . Th ese notes l f s are not legal tender, but are acceptab e or custom duties , taxes and public dues . UNITED STATES OR LEGAL TENDER NOTES authorized by an Act of Congress , February 2 5th , 1 862 , and subsequent Acts and Amendments , in de n f 1 ominations o 500 , 1 00, 50, 2 0 , 0 , 5 , 2 and 1 . They are legal tender in payment of dues , public and private , except duties on imports and in terest on the public debt . (3 ) NATIONAL BANK NOTES authorized by an Act e 2 h 1 of Congr ss February 5t , 863 , an d Subsequent Acts , in denominations of 500 , 1 00 , 50 , 2 0 , 1 0 5 2 1 , , and . These are not legal tender but are acceptable for all public dues except duties on im ports . They are redeemable by the Treasurer of the United States and by the Bank of issue . (4) FEDERAL RESERVE NOTES are not legal ten der, but are acceptable for all public dues , and on all accounts by Federal Reserve Banks , Nation al 6 FOREIGN CURRENCY AND EXCHANGE GUIDE Banks , and other Banks which are members of the Federal Reserve system . They are rede emable in gold by th e Treasurer of the Unite d States and in gold or other lawful money by any Federal Reserve Bank . (5 ) FEDERAL RESERVE BANK NOTES are for all practical purpose s identical with and governed by the same principles as National B ank Notes . Other varieties which retain their former legal tender status , but which are seldom met with at this time ( 6 ) DEMAND TREASURY NOTES in den ominations of 2 1 $ 0 , $ 0 and $5 , issu ed under authority of an Act 1 1 1 of Congress , July 7th , 86 . They were the first ever issued with backs printed green , and were called “ ” GREENBACKS , which name has since been gen r ll e a y applied to United States Paper Mon ey . These notes do not bear the seal of the United States Treasury . They are legal tender . ( 7 ) GOLD CERTIFICATES OF DEPOSIT PAYABLE TO BEARER ON DEMAND a re issu ed in denomina 1 tions of 500 , 1 00 , 5 0 , 2 0 , 0 e and 5 , and are legal tender in paym nt of all duties , n dues , public a d private , authorized under an act of 2 h 1 1 December 4t , 9 9 . (8) GOLD CERTIFICATES OF DEPOSIT PAYABLE TO ORDER are not legal tender . They are a o ce tabl p e for customs and all public dues . See Act of Congress , July 1 2 th , 1 883 . ( 9 ) FRACTIONAL CURRENCY is the common name n for certai issues of small notes which , on account of a lack of small coins , th e Government put into circulation during the Civil War period 1 862 to 1 865 . They were authorized by Act of Con gress — July 1 7th 1 862 and sub sequen t Acts denomina 2 1 1 n tions Cents 50 , 5 , 5 , 0 , 5 a d 3 . — 1 N . B . Previous to 86 1 th e Govern ment did not s s n n i u e otes . All Ba k Not es issued before 1 86 1 and n e all Co fed rate Not es are valuel ess . All gold co in s min t e d pre vious to 1 834 are in t rins ica ll y worth for each face value . FOREIGN CURRENCY AND EXCHANGE GUIDE A F RIC A ABYSSINIA Silver Standard 4 Value about 30 . U . S . Unit : Talari or Dollar Value about £ 1 stg . 1 Talari—Menelik or Maria Theresa Dollar Talari 1 4, Talari Talari Toumoun l Talari (Piastre , , Meha ek or Guerche) Copper Guerche 1 4, Guerche Guerche (Besa) . The Bank of Abyssinia with government permission is in . sues notes denominations of 5 00 , 1 00 , 5 0 , 1 0 and 5 Dollars This paper was not readily accepted by the natives but is now becoming gen erally recognized and accepted by them . The Maria Theres a Dollar and the Menelik Dollar have nominally the same value , but the latter never circulated easily . The Menelik silver coins all b ear the effigy of Mene lik on the obverse , with the Lion of Ju dah bearing a standard o n the reverse . In the first issue the Lion has its mouth closed , the standard held in the left paw and the tail turned n straight along the back . The seco d issue shows the lion with the mouth open , the standard in the right paw and the tuft of the tail curved backward . The two issues are identical in unex weight and fineness but the second on e is , for some ru plained prejudice , dislike d by the populace and only g dg i n l g y accepted . The Menelik Piastre usually circulat es at a premium on account of the demand for the smaller coin for trading pur poses . Bars of salt , cartridge s , etc . , are also used as currency and are common exchan ge in the bazaars of th e interior. d i i tamm Certain varieties of Cotton C loth , called Abou j d d or S a are also used as currency . FOREIGN’ CURRENCY AND EXCHANGE GUIDE ALGERIA Currency same as French Equivalents . COINS Copper Centimes 5 and 1 0 . Nickel 5 , 1 0 and 2 5 . Silver 5 0 , Francs 1 and 2 . Gold Francs 1 0 and 2 0 . ’ La Banque d Algeri e issues note s payable to bearer 1 2 denominations of Francs 500 , 00 , 5 0 , 0 and 5 . French coins also circulate . ANGOLA Currency same as that of Portugal . NOTES : Notes of the B a n co Nacional Ultramarino cir culat e in the Colony at face valu e but in all other Colonies and in Portugal itself, such notes are only accepted at a dis count . ASHANTI See British West Africa . AZORES The currency is identical with that of Portugal . NO : e n TES Th se are of two ki ds usually termed Strong, “ ” “ ” and Weak ; th e latt er are stamp ed ACORES and a re cur e In e n r nt at face value only in the Isla nds . all oth r Colo ies a r n and Portug l itself, such notes a e o ly accepted at a dis n cou t . RON MON E o s 1 00 , 5 0 , 2 0 1 0 5 2 , ST G EY scud , , , 1 and 5 0 C entavo s .
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