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Newspaper
Troy Herald
Location
Troy, Missouri, United States of America
Date
Jul 21, 1875
Page
6
A street corner man threatens to pull ears as a crowd laughs. A western clerk praises Pocahontas and quips on gender. A Vermont rider brags of a horse’s speed, while a Green Mountain skeptic mocks the feat.
Silver has fallen in Europe to 65 to the pound, lowering the premium and making substitution for paper money feasible in the United States. The law triggers retirement of fractional currency and silver issue when the value nears greenbacks within ten percent, but prior premiums kept exchanges unattractive. Once the premium drops to six or eight percent, weight and shipment costs drive holders to swap silver for par paper money in large quantities.
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