e principal was payable in greenbacks, were replaced by
others whose principal was payable "in coin."

3. (1873) The act of 1873, by stopping the coinage of silver dollars,
and taking away the legal tender quality of those in circulation, made
the words "in coin" mean gold.

4. (1875) All greenbacks were to become redeemable in specie on January
1, 1879.

5. To get specie, bonds might be issued.

%515. Bland Silver Bill; Silver remonetized.%--Against the
continuance of this policy the majority of the House stood pledged.
Before the session closed, therefore, two bills passed the House. One
repealed so much of the act of 1875 as provided for the retirement of
greenbacks and the issue of bonds. The second was brought in by Mr.
Bland of Missouri, and is still known by his name. It provided

1. That the silver dollar should again be coined, and at the ratio of 16
to 1; that is, that the same number of dollars should be made out of
sixteen pounds of silver as out of one pound of gold.

2. That silver should be a legal tender, at face value, for all debts,
public and private.

3. That all silver bullion brought to the mints should be coined into
dollars without cost to the bringer. This was "free coinage of silver."

The House passed the bill, but the Senate rejected the "free coinage"
provision and substituted the "Allison" amendment. Under this, the
Secretary of the Treasury was to _buy_ not less than $2,000,000, nor
more than $4,000,000, worth of silver bullion each month, and coin it
into dollars.

The House accepted the Senate amendment, and when Hayes vetoed the bill
Congress passed it over his veto and the "Bland-Allison Bill" became a
law in 1878.

%516. Silver Certificates.%--Now this return to the coinage of the
silver dollar was open to the objection that large sums in silver would
be troublesome because of the weight. It was therefore provided that the
coins might be deposited in the Treasury, and paper "silver
certificates" issued against them.

A few months later, January 1, 1879, the government returned to specie
payment, and ever since has redeemed greenbacks in gold, on demand.

%517. Foreign Relations; the French in Mexico.%--The statement was
made that with the exception of Russia the great powers of Europe
sympathized with the South during the Civil War. Two of them, France and
Great Britain, were openly hostile. The French Emperor allowed
Confederate agents to contract for the construction