g made. In
the next process the blank is weighed on a delicate balance; when found
to be of the correct weight, the coin is placed in a powerful press, and
from this it comes with its edge raised above the face and its edge
milled. In a similar press the designs are stamped upon the faces of the
coin.

Below is a list of the coins now being minted.

GOLD Coins.[27]

Double eagle Half-eagle
Eagle Quarter-eagle

SILVER COINS.

Standard dollar Quarter-dollar
Half-dollar Dime

MINOR COINS.
Five-cent (nickel) One-cent (bronze)

The silver coins less in value than one dollar are called _subsidiary_
coins.

[Footnote 27: No gold one-dollar pieces have been coined since 1890.]

The Ratio of Gold and Silver Coins.--The law fixes the weight
of pure metal in a silver dollar at 371.25 grains, troy weight, and
that of the pure metal in a gold dollar at 23.22 grains. The _ratio
_ of these weights is 15.988+: 1, or nearly 16:1. This indicates
the origin of the famous expression, "sixteen to one."

Free Coinage.--By _free coinage _is meant a policy
established by law, under which any person may bring bullion to the
mint in any amount and have it coined; that is, the amount which
the government will coin is _unlimited_ by law. Our country has
always had the policy of free coinage with respect to gold. This
was also the policy in the coinage of our silver dollars until
1873. At that time the coinage of the silver dollar was
discontinued until a law was passed in 1878 (the Bland Act)
renewing its coinage, but in _limited_ quantities. The government
purchased silver bullion under this law, and under the Sherman Act
(1890), but since 1893 no silver bullion has been purchased for the
coinage of silver dollars, but the bullion already on hand has been
used for this purpose.

Paper Money.--We have in the United States five kinds of paper
money in general circulation:--

Kinds. Amounts in circulation, Nov. 1, 1910.
1. United States notes $341,000,000
2. Gold certificates 836,000,000
3. Silver certificates 483,000,000
4. National bank notes 706,000,000
5. Treasury notes of 1890