Note 5 — Chapter XVIII
Reading edition
A "slug" was fifty dollars value in gold, minted by private parties, in octagon form and passed current the same as if it had borne the government's stamp. "Slugs" were worth as much melted as in the coined form. My ideas about the gold standard were formed at that time, and I may say my mind never changed on this subject.
The "Beaver Money," so called because of the stamp of a beaver on the piece, issued by the pioneers of Oregon, of the value of $5.00, was another instance of no change in value of gold from the melting pot to the mold. It was simply a matter of convenience to be rid of the more cumbersome legal tender, wheat, which had been in vogue so long.