Publisher's Synopsis
Excerpt from Fractional Money: A History of the Small Coins and Fractional Paper Currency of the United States
There are, however, material dierences of function between the currency of retail trade and the money of larger denominations used in more important transactions, and it is desirable to find a line of demarcation between the two types. From the standpoint of United States currency this line Should be drawn at the value of one dollar, even though the Silver dollar has been for many years a small change coin. Coins and paper notes of a value less than one dollar are best described by the term fractional currency. For the purposes of this study the term will be used to include all money of this value that has been used by the people of the United States, whether its material was precious metal, base metal, or paper, whether it was of foreign origin, colo nial issue, national government issue, or private manufacture, and whether it was of standaril money quality or subordinate character.
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