Feb. 21, 1853. Vol. 10, p. 160. 1853, ch. 96, s. 7, post, p. 23. half dollar and and half dime, CHAP. LXXIX.-AN ACT AMENDATORY OF EXISTING LAWS RELA- Be it enacted by the Senate and the House of Representatives of Weight of the the United States of America in Congress assembled, That from quarter. dime and after the first day of June, eighteen hundred two (three) after June 1, 1853. the weight of the half dollar, or piece of fifty cents, shall See act of Apr. 2, 1792, s. 9, ante, p. 3; act Jan. 18, 1837, s. 9, ante, p. 13; act Feb. 12, 1873, s. 15, post, p. 93. be one hundred and ninety two grains, and the quarter dollar, dime and half dime, shall be respectively, one half, one fifth, and one tenth of the weight of said half dollar. Such coins when to be a legal tender. Purchase of the silver bullion SEC. 2. And be it further enacted, That the silver coins issued in conformity with the above section, shall be legal tenders in payment of debts, for all sums not exceeding five dollars. SEC. 3. And be it further enacted, That in order to profor such coinage. cure bullion for the requisite coinage of the subdivisions of the dollar, authorized by this act, the Treasurer of the Mint shall with the approval of the Director, purchase such bullion with the bullion fund of the mint. He shall charge himself with the gain arising from the coinage of such bullion into coins of a nominal value, exceeding the intrinsic value thereof, and shall be credited with the difference between such intrinsic value, and the price paid for said bullion, and with the expense of distributing said coins, as hereinafter provided. The balances to his credit or the profit of said coinage, shall be from time to time, on a warrant of the Director of the Mint, transferred to the account of the Treasury of the United States. Such coins how to be exchanged mint. SEC. 4. And be it further enacted, That such coins shall be and paid out of paid out at the mint, in exchange for gold coins at par, in sums not less than one hundred dollars; and it shall be lawful also, to transmit parcels of the same from time to time, to the assistant treasurers, depositaries, and other officers of the United States, under general regulations, proposed by the Director of the Mint, and approved by the Amount of Secretary of the Treasury; Provided, however, That the amount coined into quarter dollars, dimes, and half dimes, shall be regulated by the Secretary of the Treasury. coina ge regu lated. No private deposits for said ceived. SEC. 5. And be it further enacted, That, no deposits for coin to be re- coinage into the half dollar, quarter-dollar, dime and half dime, shall hereafter be received, other than those made by the Treasurer of the Mint, as herein authorized, and upon account of the United States. SEC. 6. And be it further enacted, That at the option of the depositor, gold or silver may be cast into bars or ingots of either pure metal or of standard fineness, as the owner may prefer, with a stamp upon the same designating its Charge of half depositor in all per cent. to the cases. This section weight and fineness: but no piece of either gold or silver, shall be cast into bars or ingots of a less weight than ten ounces, except pieces of one ounce, of two ounces, of three ounces, and of five ounces, all of which pieces of less weight than ten ounces shall be of the standard fineness, with their weight and fineness stamped upon them; but, in (all) cases, whether the gold and silver deposited be coined or cast into bars or ingots, there shall be a charge to the depositor, in addition to the charge now made for refining or parting the metals, of one half of one per centum; the money arising from this charge of one half per centum shall be charged to the Treasurer of the Mint, and from time to time on warrant of the Director of the Mint, shall be transferred into the Treasury of the United States: Provided, however, That nothing contained in this section shall be considered, as applying to the half dollar, the quarter dollar, the dime, and the half dime. SEC. 7. And be it further enacted, That from time to time Gold coins of there shall be struck and coined at the Mint of the United States, and the branches thereof, conformably in all respects to law, and conformably in all respects to the standard of gold coins now established by law, a coin of gold of the value of three dollars, or units, and all the provisions of an Act entitled "An act to authorize the coinage of gold dollars and double eagles." Approved March third, eighteen hundred and forty nine, shall be applied to the coin herein authorized, so far as the same may be applicable; but the devices and shape of the three dollar piece, shall be fixed by the Secretary of the Treasury. not to apply to said silver coins. $3 established. Provisions of act 1849, ch. 109, made applicable to said coins. Ante, p. 20. June 2, 1853. SEC. 8. And be it further enacted, That this act shall be To take effect in force from and after the first day of June next. Approved, February 21, 1853. See act of March 3, 1853, s. 7, post, p. 24. CHAP. XCVI.-AN ACT TO SUPPLY DEFICIENCIES IN THE APPROPRIA- March 3, 1853. Vol. 10, p. 181. ing silver into gots. Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, * * SEC. 7. And be it further enacted, That when gold or silver Charge for castshall be cast into bars or ingots or formed into disks at the disks, bars, or inMint of the United States, or any of the branches thereof, or at any assay office of the United States, the charge for refining, casting or forming said bars, ingots or disks, shall be equal to, but not exceed, the actual cost of the operation including labor, wastage, use of machinery, materials, etc., to be regulated from time to time by the Secretary of the Size and de- Treasury. And the Secretary of the Treasury is hereby vices of the sil Ante, p. 22. cers in the mint. ver coins author authorized to regulate the size and devices of the new silver ized by act of 1853, ch. 79. coin, authorized by an act entitled "An Act amendatory of existing laws relative to the half dollar, quarter dollar, dime and half dime," passed at the present session; and that to procure such devices, as also the models, moulds, and matrices or original dies for the coins, disks, or ingots, authorized by said act, the Director of the Mint is empowered, Additional offi- with the approval of the Secretary of the Treasury, to engage temporarily for that purpose, the services of one or more artists distinguished in their respective departments, who shall be paid for such services from the contingent apWeight of the propriation for the mint; And that hereafter the three cent March 3, 1851, coin now authorized by law shall be made of the weight of February 12, three fiftieths of the weight of the half dollar, as provided Act of 1853, ch. in said act, and of the same standard of fineness. And the said act, entitled "An act amendatory of existing laws relative to the half dollar, quarter dollar, dime and half dime," shall take effect and be in full force, from and after the first day of April, one thousand eight hundred and fifty three anything therein to the contrary notwithstanding. three-cent coin. ante, p. 21. 1873, post, p. 88. 79, to take effect April 1, 1853. Ante, p. 22. Approved, March 3, 1853. Feb. 21, 1857. Vol. 11, p. 163. How Spanish and are to be received States. R. S., 3567, post, p. 126. CHAP. LVI.-AN ACT RELATING TO FOREIGN COINS AND TO THE Be it enacted by the Senate and House of Representatives of much the United States of America in Congress assembled, That the coins pieces commonly known as the quarter, eight, and sixteenth for by United of the Spanish pillar dollar, and of the Mexican dollar, shall be receivable at the treasury of the United States, and its several offices, and at the several post-offices and land-offices, at the rates of valuation following,—that is to say, the fourth of a dollar, or piece of two reals, at twenty cents; the eighth of a dollar, or piece of one real, at ten cents; and the sixteenth of a dollar, or half real, at five cents. re 'oined. SEC. 2. And be it further enacted, That the said coins, Said coins to be when so received, shall not again be paid out, or put in cirR. S., 3566, 3568, culation, but shall be recoined at the mint. And it shall post, p. 126. be the duty of the director of the mint, with the approval of the Secretary of the Treasury, to prescribe such regulations as may be necessary and proper, to secure their transmission to the mint for recoinage, and the return or distribution of the proceeds thereof, when deemed expedient, and to prescribe such forms of account as may be appropriate and applicable to the circumstances: Provided, That the expenses incident to such transmission or distribution, and of recoinage, shall be charged against the account of silver profit and loss, and the net profits, if any, shall be paid from time to time into the treasury of the United States. eign coins to be SEC. 3. And be it further enacted, That all former acts Former acts making foreign authorizing the currency of foreign gold or silver coins, and coins a currency or legal tender declaring the same a legal tender in payment for debts, are repealed. hereby repealed; but it shall be the duty of the director of the mint to cause assays to be made, from time to time, of such foreign coins as may be known to our commerce, to determine their average weight, fineness, and value, and to P. 129. embrace in his annual report a statement of the results thereof. Assays of for be made, and au nually reported. R. S., 3584, post, and composition of See act of April p. 4. SEC. 4. And be it further enacted, That from and after the Weight passage of this act, the standard weight of the cent coined cents. at the mint shall be seventy-two grains, or three twentieths 2, 1792, s. 9, ante, of one ounce troy, with no greater deviation than four grains in each piece; and said cent shall be composed of eighty-eight per centum of copper and twelve per centum 3, 1795, s. 8, ante, of nickel, of such shape and device as may be fixed by the Act of April 22, director of the mint, with the approbation of the Secretary 1864, s. 1, post, p, of the Treasury; and the coinage of the half cent shall cease. Act of March p. 9. 62. of bullion therefor. laws extended to such SEC. 5. And be it further enacted, That the treasurer of the Purchase mint, under the instruction of the Secretary of the Treas ury, shall, from time to time, purchase from the bullion fund of the mint the materials necessary for the coinage of such cent piece, and transfer the same to the proper operative officers of the mint to be manufactured and returned in coin. And the laws in force relating to the mint and the Former coinage of the precious metals, and in regard to the sale cents. and distribution of the copper coins, shall, so far as applicable, be extended to the coinage herein provided for: Provided, That the net profits of said coinage, ascertained Profits. in like manner as is prescribed in the second section of this act, shall be transferred to the treasury of the United States. SEC. 6. And be it further enacted, That it shall be lawful Such cents may be paid out and to pay out the said cent at the mint in exchange for any of transmitted, &c. the gold and silver coins of the United States, and also in exchange for the former copper coins issued: and it shall be lawful to transmit parcels of the said cents, from time to time, to the assistant treasurers, depositaries, and other for certain coins two years. Time officers of the United States, under general regulations proposed by the director of the mint, and approved by the To be paid out Secretary of the Treasury, for exchange as aforesaid. And at old rate for it shall also be lawful for the space of two years from the extended. passage of this act and no longer, to pay out at the mint the cents aforesaid for the fractional parts of the doliar herein before named, at their nominal value of twenty-five, twelve-and-a-half, and six and a quarter cents, respectively. SEC. 7. And be it further enacted, That hereafter the dimint to be made rector of the mint shall make his annual report to the Secretary of the Treasury, up to the thirtieth of June in each year, so that the same may appear in his annual report to Congress on the finances. Annual report of director of the up to June 30. Approved, February 21, 1857. June 22, 1860. be borrowed to notes, &c. Stock to be is sued at interest per cent. CHAP. CLXXX.-AN ACT AUTHORIZING A LOAN AND PROVIDING FOR THE REDEMPTION OF TREASURY NOTES. (SEE ACT OF 8TH FEBRUARY, 1861, SECTION 5.) Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the President of the United States be, and hereby is, authorized, at any time within twelve months from the passage $21,000,000 may of this act, to borrow, on the credit of the United States, redeem Treasury a sum not exceeding twenty-one millions of dollars, or so Post, p. 31, s. 15. much thereof as, in his opinion, the exigencies of the public service may require, to be used in the redemption of Treasury notes now outstanding, and to replace in the Treasury any amount of said notes which shall have been paid and received for public dues, and for no other purposes. SEC. 2. And be it further enacted, That stock shall be of not over six issued for the amount so borrowed, bearing interest not exceeding six per centum per annum, and to be reimbursed within a period not beyond twenty years, and not less than ten years; and the Secretary of the Treasury be, and is hereby authorized, with the consent of the President, to cause certificates of stock to be prepared, which shall be signed by the Register, and sealed with the seal of the Treasury Department, for the amount so borrowed, in favor of the parties lending the same, or their assigns, which certificates may be transferred on the books of the Treasury, under such regulations as may be established by the of not less than Secretary of the Treasury: Provided, That no certificate shall be issued for a less sum than one thousand dollars: With coupons, And provided, also, That, whenever required, the Secretary of the Treasury may cause coupons of semi-annual interest Certificates. To be in sums $1,000. when required. |