Henry Linderman
Encyclopedia
Henry Richard Linderman was an American
financier
.
. Subsequently he practiced medicine in Pike County
, and elsewhere in Pennsylvania, until 1853 when he moved to Philadelphia
where he also practiced medicine for a short time.
. In 1855-64 he was chief clerk of the US Mint in Philadelphia. Linderman resigned this office during 1864, and entered business as a stockbroker.
He was director of the mint 1866-69. On account of his great experience and thorough knowledge of such subjects, he was appointed by the secretary of the treasury to examine the mint in San Francisco, and to adjust some intricate bullion questions. In 1871 he was sent by the U. S. government to London
, Paris
, and Berlin
to collect information concerning the mints in those places, and in 1872 he made an elaborate report on the condition of the market for silver. In order to find an outlet for the great amount of silver in the United States, he proposed the trade dollar
.
, he drew up the Coinage Act of 1873
. On the enactment of this law in April 1873, he was appointed superintendent of the mint and organized the bureau, and from that time had the general supervision of all the mints and assay offices in the United States. During his administration he gathered a choice collection of specimen coins, which were to be sold by auction in New York in 1887, but the U. S. government claimed them. As superintendent of the Mint, he wrote annual reports, of which that of 1877, arguing for the gold standard
, is best known and most important. He also published Money and Legal Tender in the United States (New York, 1877).
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...
financier
Financier
Financier is a term for a person who handles typically large sums of money, usually involving money lending, financing projects, large-scale investing, or large-scale money management. The term is French, and derives from finance or payment...
.
Medical practice
Linderman was born at Lehman, Pennsylvania. He studied medicine under his father, and completed his course in New York CityNew York City
New York is the most populous city in the United States and the center of the New York Metropolitan Area, one of the most populous metropolitan areas in the world. New York exerts a significant impact upon global commerce, finance, media, art, fashion, research, technology, education, and...
. Subsequently he practiced medicine in Pike County
Pike County, Pennsylvania
-National protected areas:* Delaware Water Gap National Recreation Area * Middle Delaware National Scenic River * Upper Delaware Scenic and Recreational River -Demographics:...
, and elsewhere in Pennsylvania, until 1853 when he moved to Philadelphia
Philadelphia, Pennsylvania
Philadelphia is the largest city in the Commonwealth of Pennsylvania and the county seat of Philadelphia County, with which it is coterminous. The city is located in the Northeastern United States along the Delaware and Schuylkill rivers. It is the fifth-most-populous city in the United States,...
where he also practiced medicine for a short time.
Early career with the mint
He was active in politics as a DemocratDemocratic Party (United States)
The Democratic Party is one of two major contemporary political parties in the United States, along with the Republican Party. The party's socially liberal and progressive platform is largely considered center-left in the U.S. political spectrum. The party has the lengthiest record of continuous...
. In 1855-64 he was chief clerk of the US Mint in Philadelphia. Linderman resigned this office during 1864, and entered business as a stockbroker.
He was director of the mint 1866-69. On account of his great experience and thorough knowledge of such subjects, he was appointed by the secretary of the treasury to examine the mint in San Francisco, and to adjust some intricate bullion questions. In 1871 he was sent by the U. S. government to London
London
London is the capital city of :England and the :United Kingdom, the largest metropolitan area in the United Kingdom, and the largest urban zone in the European Union by most measures. Located on the River Thames, London has been a major settlement for two millennia, its history going back to its...
, Paris
Paris
Paris is the capital and largest city in France, situated on the river Seine, in northern France, at the heart of the Île-de-France region...
, and Berlin
Berlin
Berlin is the capital city of Germany and is one of the 16 states of Germany. With a population of 3.45 million people, Berlin is Germany's largest city. It is the second most populous city proper and the seventh most populous urban area in the European Union...
to collect information concerning the mints in those places, and in 1872 he made an elaborate report on the condition of the market for silver. In order to find an outlet for the great amount of silver in the United States, he proposed the trade dollar
Trade Dollar (United States coin)
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...
.
Superintendent of the mint
With KnoxJohn Jay Knox
John Jay Knox was an American financier, born in Knoxboro, New York. He graduated from Hamilton College in 1849 and entered the banking business.He was a vigorous supporter of the national banking plan of Treasury Secretary Salmon P. Chase...
, he drew up the Coinage Act of 1873
Fourth Coinage Act
The Fourth Coinage Act was enacted by the United States Congress in 1873 and embraced the gold standard and demonetized silver. Western mining interests and others who wanted silver in circulation years later labeled this measure the "Crime of '73"...
. On the enactment of this law in April 1873, he was appointed superintendent of the mint and organized the bureau, and from that time had the general supervision of all the mints and assay offices in the United States. During his administration he gathered a choice collection of specimen coins, which were to be sold by auction in New York in 1887, but the U. S. government claimed them. As superintendent of the Mint, he wrote annual reports, of which that of 1877, arguing for the gold standard
Gold standard
The gold standard is a monetary system in which the standard economic unit of account is a fixed mass of gold. There are distinct kinds of gold standard...
, is best known and most important. He also published Money and Legal Tender in the United States (New York, 1877).