The trade dollar was a United States dollar coin minted to compete with
other large silver coins that were already popular in East Asia. The
idea first came about in the 1860s, when the price of silver began to
decline due to increased mining efforts in the western United States.
The Coinage Act of 1873 made trade dollars legal tender up to five
dollars. The coins were first struck in 1873, and most of the production
was sent to China. Eventually, bullion producers began converting large
amounts of silver into trade dollars, causing the coins to make their
way into American commercial channels. This frustrated payees, as the
coins were traded for less than one dollar each. In response to their
wide distribution in US commerce, the coins were officially demonetized
in 1876, but continued to circulate. Production of business strikes
ended in 1878, though the mintage of proof coins continued until 1883.
The trade dollar was remonetized when the Coinage Act of 1965 was signed
into law.
Read more: <https://en.wikipedia.org/wiki/Trade_dollar_%28United_States_coin%29>
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Today's selected anniversaries:
1405:
Marking the start of Ming China's treasure voyages, an
expeditionary fleet led by Zheng He (depicted) set sail for foreign
regions of the South China Sea and the Indian Ocean.
<https://en.wikipedia.org/wiki/Ming_treasure_voyages>
1792:
The Belfast Harp Festival, an early event in the Gaelic
revival, began at the Assembly Rooms.
<https://en.wikipedia.org/wiki/Belfast_Harp_Festival>
1960:
To Kill a Mockingbird, a novel by Harper Lee featuring themes
of racial injustice and the loss of innocence in the Deep South of
America, was published.
<https://en.wikipedia.org/wiki/To_Kill_a_Mockingbird>
1991:
Shortly after taking off from Jeddah, Saudi Arabia, Nigeria
Airways Flight 2120 caught fire and crashed, killing all 261 people on
board.
<https://en.wikipedia.org/wiki/Nigeria_Airways_Flight_2120>
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Wiktionary's word of the day:
suited and booted:
1. (originally South Asia) Dressed smartly, especially in business or
formal wear.
2. (figuratively) Dressed, equipped, or otherwise well prepared for a
certain situation.
<https://en.wiktionary.org/wiki/suited_and_booted>
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Wikiquote quote of the day:
Mockingbirds don't do one thing but make music for us to enjoy.
They don't eat up people's gardens, don't nest in corncribs, they don't
do one thing but sing their hearts out for us. That's why it's a sin to
kill a mockingbird.
--Harper Lee
<https://en.wikiquote.org/wiki/Harper_Lee>
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