James Madison Papers

Memorandum on Specie, post 12 January 1792 (Abstract)

Memorandum on Specie

Abstract. Post 12 January 1792. Calculates the standard alloy and pure silver content of the dollar as proposed by the Senate and incorporated in the Mint Act of 1792. “The vote of the Senate reduces the dollar from 375.64 gs pure metal to 371.25.”1

Ms (DLC). A one-page document in JM’s hand. Conjectured date assigned on the basis of circumstances described in n. 1.

1On 12 Jan. the Senate passed the mint bill and sent it to the House. On 24 Mar. the House amended the section of the bill relating to the design of the coinage, and the president signed it on 2 Apr. (Annals of Congress description begins Debates and Proceedings in the Congress of the United States, 1789–1824 (42 vols.; Washington, 1834–56). description ends , 2d Cong., 2d sess., 69, 71, 485–86; U.S. Statutes at Large description begins The Public Statutes at Large of the United States of America … (17 vols.; Boston, 1848–73). description ends , I, 251).

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