This Act was repealed, but in substance re-enacted by the Coinage Act of 1870, and is still in principle and fact the law of the land and the basis of our monometallic system.
ENGLAND: 1816-93
From the date of its enactment England has been withdrawn from that action of bimetallic law which had been her bane for centuries. The flow of gold in or out became automatic, representing the natural flow of world-balances, and therefore proving the greatest trade help and indicator; and such commercial crises as have come upon her have arisen from the peculiarly sensitive organisation of credit which distinguishes the modern system, and are to be classed with banking rather than metallic currency phenomena.
The total coinage in England from 1816 to 1875 inclusive was £234,139,886 gold and £24,663,309 silver.
| Year. | Coinage of Gold. | Imports of Gold Bullion and Specie. | Exports of Gold Bullion and Specie. |
|---|
| 1855 | 9,008,663 | ? | 11,847,000 |
| 1856 | 6,002,114 | ? | 12,038,000 |
| 1857 | 485,980 | ? | 15,062,000 |
| 1858 | 1,231,023 | 22,793,000 | 12,567,000 |
| 1859 | 2,649,509 | 22,298,000 | 18,081,000 |
| 1860 | 3,121,709 | 12,585,000 | 15,642,000 |
| 1861 | 8,190,170 | 12,164,000 | 11,238,000 |
| 1862 | 7,836,413 | 19,904,000 | 16,012,000 |
| 1863 | 6,607,456 | 19,143,000 | 15,303,000 |
| 1864 | 9,535,597 | 16,901,000 | 13,280,000 |
| 1865 | 2,367,614 | 14,486,000 | 8,493,000 |
| 1866 | 5,076,676 | 23,510,000 | 12,742,000 |
| 1867 | 496,397 | 15,800,000 | 7,889,000 |
| 1868 | 1,653,384 | 17,136,000 | 12,708,000 |
| 1869 | 7,372,204 | 13,771,000 | 8,474,000 |
| 1870 | 2,313,384 | 18,807,000 | 10,014,000 |
| 1871 | 9,919,656 | 21,619,000 | 20,698,000 |
| 1872 | 15,261,442 | 18,469,000 | 19,749,000 |
| 1873 | 3,384,568 | 20,611,000 | 19,071,000 |
| 1874 | 1,461,565 | 18,081,000 | 10,642,000 |
| 1875 | 243,264 | 23,141,000 | 18,648,000 |
| 1876 | 4,696,648 | 23,476,000 | 16,516,000 |
| 1877 | 981,468 | 15,442,000 | 20,374,000 |
| 1878 | 2,265,069 | 20,871,000 | 14,969,000 |
| 1879 | 35,050 | 13,369,000 | 17,579,000 |
| 1880 | 4,150,052 | 9,455,000 | 11,829,000 |
| 1881 | ... | 9,963,000 | 15,499,000 |
| 1882 | ... | 14,377,000 | 12,024,000 |
| 1883 | 1,403,713 | 7,756,000 | 7,091,000 |
| 1884 | 2,324,015 | 10,744,000 | 12,013,000 |
| 1885 | 2,973,453 | 13,377,000 | 11,931,000 |
| 1886 | ... | 13,392,000 | 13,784,000 |
| 1887 | 1,908,686 | 9,955,000 | 9,324,000 |
| 1888 | 2,277,424 | 15,000,000 | 14,250,000 |
| 1889 | 7,257,455 | 17,570,000 | 14,000,000 |
| 1890 | 7,662,898 | 23,900,000 | 14,250,000 |
| 1891 | 6,869,119 | 29,500,000 | 25,000,000 |
| 1892 | 13,944,963 | 21,250,000 | 15,450,000 |
| 1893 | 9,318,021 | 23,630,000 | 18,800,000 |
| Year. | Coinage of Silver. | Imports of Silver Bullion and Specie. | Exports of Silver Bullion and Specie. |
|---|
| 1855 | 195,510 | ? | 6,981,000 |
| 1856 | 462,528 | ? | 12,813,000 |
| 1857 | 373,230 | ? | 18,505,000 |
| 1858 | 445,896 | 6,700,000 | 7,062,000 |
| 1859 | 647,064 | 14,772,000 | 17,608,000 |
| 1860 | 218,403 | 10,394,000 | 9,893,000 |
| 1861 | 209,484 | 6,583,000 | 9,573,000 |
| 1862 | 148,518 | 11,753,000 | 13,314,000 |
| 1863 | 161,172 | 10,888,000 | 11,241,000 |
| 1864 | 535,194 | 10,827,000 | 9,853,000 |
| 1865 | 501,732 | 6,977,000 | 6,599,000 |
| 1866 | 493,416 | 10,777,000 | 8,897,000 |
| 1867 | 193,842 | 8,021,000 | 6,435,000 |
| 1868 | 301,356 | 7,716,000 | 7,512,000 |
| 1869 | 76,428 | 6,730,000 | 7,904,000 |
| 1870 | 336,798 | 10,649,000 | 8,906,000 |
| 1871 | 701,514 | 16,522,000 | 13,062,000 |
| 1872 | 1,243,836 | 11,139,000 | 10,587,000 |
| 1873 | 674 | 12,988,000 | 9,828,000 |
| 1874 | 890,604 | 12,298,000 | 12,212,000 |
| 1875 | 594,000 | 10,124,000 | 8,980,000 |
| 1876 | 222,354 | 13,578,000 | 12,948,000 |
| 1877 | 420,948 | 21,711,000 | 19,437,000 |
| 1878 | 613,998 | 11,552,000 | 11,718,000 |
| 1879 | 549,054 | 10,787,000 | 11,006,000 |
| 1880 | 761,508 | 6,799,000 | 7,061,000 |
| 1881 | 997,128 | 6,901,000 | 7,004,000 |
| 1882 | 209,880 | 9,243,000 | 8,965,000 |
| 1883 | 1,274,328 | 9,468,000 | 9,323,000 |
| 1884 | 658,548 | 9,633,000 | 9,986,000 |
| 1885 | 720,918 | 9,434,000 | 9,852,000 |
| 1886 | 417,384 | 7,472,000 | 7,224,000 |
| 1887 | 861,498 | 7,819,000 | 7,807,000 |
| 1888 | 755,113 | 6,000,000 | 7,500,000 |
| 1889 | 2,215,742 | 9,000,000 | 10,500,000 |
| 1890 | 1,708,415 | 10,300,000 | 10,500,000 |
| 1891 | 1,049,113 | 10,500,000 | 11,800,000 |
| 1892 | 773,353 | 12,375,000 | 14,075,000 |
| 1893 | 1,089,707 | 11,320,000 | 13,532,000 |
United States
Under British dominion the American colonies retained the silver standard, as did their mother country, with such variation of actual coins and of their tariff as the situation of the country and the immense variety of metallic values prevailing in the different colonies gave rise to. The coin most commonly current was the Spanish piece of eight, but the system of weights and measures was the English system, and reckoning was by pounds, shillings, and pence. The method by which such a composite system was regulated consisted in those coinage tariffs with which early European monetary history is so well acquainted. According to a tariff issued in 1750, the ounce of silver was declared worth 6s. 8d. the Spanish milled piece of eight was to be equal to 6s.;
and "whereas there is great reason to apprehend that many and great inconveniences may arise in case any coined silver or gold or English halfpence and farthings should pass at any higher rate than in a just proportion to Spanish pieces of eight, or coined silver at the ratio aforesaid," a tariff list was appended according to which the guinea was 28s., the English crown 6s. 8d., and so on for other European coins.