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superintendent or other officers from liability to the United States for acts, omissions, or negligence of their subordiincrease thereof. nates or employees: Provided, That the Secretary of the Treasury may, at his discretion, increase the bonds of the superintendent.

Salary of director;

p. 110.

assayers, &c.;

SEC. 12. That there shall be allowed to the Director of the Mint an annual salary of four thousand five hundred R. S., 3498, post, dollars, and actual necessary travelling expenses in visiting the different mints and assay-offices, for which vouchers superintendents, shall be rendered; to the superintendents of the mints at Philadelphia and San Francisco, each four thousand five hundred dollars; to the assayers, melters and refiners, and coiners of said mints, each three thousand dollars; to the engraver of the mint at Philadelphia, three thousand dollars; to the superintendent of the mint at Carson City, three thousand dollars; and to the assayer, to the melter and refiner, and to the coiner of the mint at Carson City, each assistants, clerks, two thousand five hundred dollars; to the assistants and clerks such annual salary shall be allowed as the Director of the Mint may determine, with the approbation of the Secretary of the Treasury; and to the workmen shall be allowed such wages, to be determined by the superintendent, as may be customary and reasonable according to their respective stations and occupations, and approved by the Director payable monthly. Of the Mint; and the salaries provided for in this section, and the wages of the workmen permanently engaged, shall be payable in monthly instalments.

and workmen;

Standard of gold and silver coins.

p. 115. Alloy.

11.

SEC. 13. That the standard for both gold and silver coins of the United States shall be such that of one thousand R. S., 3514, post, parts by weight nine hundred shall be of pure metal and one hundred of alloy; and the alloy of the silver coins shall be of copper, and the alloy of the gold coins shall be of copper, or of copper and silver; but the silver shall in no case exceed one-tenth of the whole alloy.

Gold coins;
See act April 2,

Act June 28,

Act January

SEC. 14. That the gold coins of the United States shall 1792, ante, p. 1. be a one-dollar piece, which, at the standard weight of 1834, ante, p. 10. twenty-five and eight-tenth grains, shall be the unit of value; 18, 1837, ante, p. a quarter-eagle, or two-and-a-half dollar piece; a three-dolAct February lar piece; a half-eagle, or five-dollar piece; an eagle, or ten21, 1853, ante, P. dollar piece; and a double-eagle, or twenty-dollar piece. R. S., 3511, post, And the standard weight of the gold dollar shall be twentystandard weight; five and eight-tenths grains; of the quarter-eagle, or two-and

22.

p. 114.

a-half dollar piece, sixty-four and a half grains; of the threedollar piece, seventy-seven and four-tenths grains; of the Act March 3, half-eagle, or five-dollar piece, one hundred and twenty-nine grains; of the eagle, or ten dollar piece, two hundred and

1849, ante, p. 20.

p. 113.

fifty-eightgrains; of the double-eagle, or twenty-dollar piece, five hundred and sixteen grains; which coins shall be a legal to be legal tender. tender in all payments at their nominal value when not below Ibid. R. S., 3585. post, the standard weight and limit of tolérance provided in this p. 129." act for the single piece, and when reduced in weight, below said standard and tolerance, shall be a legal tender at valuation in proportion to their actual weight; and any gold reduction in weight by natural coin of the United States, if reduced in weight by natural abrasion; abrasion not more than one-half of one per centum below R. S., 3505, post, the standard weight prescribed by law, after a circulation of twenty years, as shown by its date of coinage, and at a ratable proportion for any period less than twenty years, shall be received at their nominal value by the United States Treasury and its offices, under such regulations as the Secretary of the Treasury may prescribe for the protection of the government against fraudulent abrasion or other practices; and any gold coins in the Treasury of the United R. S., 3512, post, States reduced in weight below this limit of abrasion shall be recoined.

where to be re

ceived.

p. 114.

p. 114.

SEC. 15. That the silver coins of the United States shall Silver coins; be a trade dollar, a half-dollar, or fifty-cent piece, a quarter- R. S., 3513, post, dollar, or twenty-five-cent piece, a dime, or ten-cent piece; and the weight of the trade-dollar shall be four hundred and weight; twenty grains troy; the weight of the half-dollar shall be R. S., 3586, post, twelve grams (grammes) and one-half of a gram, (gramme;) the quarter-dollar and the dime shall be, respectively, onehalf and one-fifth of the weight of said half dollar; and said to be legal tender. coins shall be a legal tender at their nominal value for any amount not exceeding five dollars in any one payment.

p. 130.

Minor coins, and their alloy;

p. 115.

SEC. 16. That the minor coins of the United States shall be a five-cent piece, a three-cent piece, and a one-cent piece, and the alloy for the five and three-cent pieces shall be of. S., 3515, post, copper and nickel, to be composed of three-fourths copper and one-fourth nickel, and the alloy of the one-cent piece shall be ninety-five per centum of copper and five per centum of tin and zinc, in such proportions as shall be determined by the Director of the Mint. The weight of the weight; piece of five cents shall be seventy-seven and sixteen-hundredths grains, troy; of the three-cent piece, thirty grains; and of the one-cent piece, forty-eight grains; which coins shall be a legal tender, at their nominal value, for any to be legal tender. R. S., 3587, post, amount not exceeding twenty-five cents in any one payment. p. 130. SEC. 17. That no coins, either of gold, silver, or minor No coins, excoinage, shall hereafter be issued from the mint other than those of the denominations, standards, and weights herein Ibid., 3516. set forth.

cept, &c.

Devices and legends upon coins. R. S., 3517, post, p. 115.

SEC. 18. That upon the coins of the United States there shall be the following devices and legends: Upon one side there shall be an impression emblematic of liberty, with an Inscriptions. inscription of the word "Liberty" and the year of the coinage, and upon the reverse shall be the figure or representation of an eagle, with the inscriptions "United States of America" and "E Pluribus Unum," and a designation of the value of the coin; but on the gold dollar and three-dollar piece, the dime, five, three, and one cent piece the figure of the eagle shall be omitted; and on the reverse of the silver trade-dollar the weight and the fineness of the coin shall be inscribed; and the Director of the Mint, with the approval of the Secretary of the Treasury, may cause the motto "In God we trust" to be inscribed upon such coins as shall admit of such motto; and any one of the foregoing inscriptions may be on the rim of the gold and silver coins.

Bars of gold or silver;

p. 115.

vices;

SEC. 19. That at the option of the owner, gold or silver R. S., 3518, post, may be cast into bars of fine metal, or of standard fineness, stamp and de. Or unparted, as he may prefer, with a stamp upon the same. designating the weight and fineness, and with such devices impressed thereon as may be deemed expedient to prevent limit to weight. fraudulent imitation, and no such bars shall be issued of a less weight than five ounces.

Deposits of gold bullion for coinage;

R. S., 3519, post, p. 115.

of silver bullion.

R. S., 3520, post, p. 116.

Bullion to be

weighed when de

ceipt given;

p. 116.

SEC. 20. That any owner of gold bullion may deposit the same at any mint, to be formed into coin or bars for his benefit; but it shall be lawful to refuse any deposit of less value than one hundred dollars, or any bullion so base as to be unsuitable for the operations of the mint; and when gold and silver are combined, if either metal be in such small proportion that it cannot be separated advantageously, no allowance shall be made to the depositor for its value.

SEC. 21. That any owner of silver bullion may deposit the same at any mint, to be formed into bars, or into dollars of the weight of four hundred and twenty grains, troy, des ignated in this act as trade-dollars, and no deposit of silver for other coinage shall be received; but silver bullion contained in gold deposits, and separated therefrom, may be paid for in silver coin, at such valuation as may be, from time to time, established by the Director of the Mint.

SEC. 22. That when bullion is deposited in any of the posited, and re- mints, it shall be weighed by the superintendent, and, when R. S., 3521, post, practicable, in the presence of the depositor, to whom a receipt shall be given, which shall state the description and weight of the bullion; but when the bullion is in such a state as to require melting, or the removal of base metals, before its value can be ascertained, the weight, after such

operation, shall be considered as the true weight of the bull

ion deposited. The fitness of the bullion to be received fitness and mode of melting, how shall be determined by the assayer, and the mode of melting determined. by the melter and refiner.

ion;

SEC. 23. That from every parcel of bullion deposited for Assay of bull. coinage or bars, the superintendent shall deliver to the asR. S., 3522, post, sayer a sufficient portion for the purpose of being assayed, but all such bullion remaining from the operations of the assay shall be returned to the superintendent by the assayer.

R. S., 3523, post,

SEC. 24. That the assayer shall report to the superintend- report of assayer. ent the quality or fineness of the bullion assayed by him, p. 116. and such information as will enable him to compute the amount of the charges hereinafter provided for, to be made to the depositor.

verting bullion

preparation of

p. 116.

SEC. 25. That the charge for converting standard gold Charges for conbullion into coin shall be one-fifth of one per centum; and into coin, and the charges for converting standard silver into trade-dol- bars; lars, for melting and refining when bullion is below stand-, R. S., 3524, post, ard, for toughening when metals are contained in it which render it unfit for coinage, for copper used for alloy when the bullion is above standard, for separating the gold and silver when these metals exist together in the bullion, and for the preparation of bars, shall be fixed, from time to time, by the Director, with the concurrence of the Secretary of the Treasury, so as to equal but not exceed, in their judg- not to exceed the actual average ment, the actual average cost to each mint and assay-office cost. of the material, labor, wastage, and use of machinery employed in each of the cases aforementioned.

fy certain calcu

SEC. 26. That the assayer shall verify all calculations Assayer to verimade by the superintendent of the value of deposits, and, lations and countersign certifiif satisfied of the correctness thereof, shall countersign the cate. certificate required to be given by the superintendent to the R. S., 3525, post, depositor.

p. 117.

bullion for silver

R. S., 3526, post,

p. 117.

Gain to

be credited to silver

SEC. 27. That in order to procure bullion for the silver, Purchase of coinage authorized by this act, the superintendents, with the coinage. approval of the Director of the Mint, as to price, terms, and quantity, shall purchase such bullion with the bullion fund. The gain arising from the coinage of such silver bullion into coin of a nominal value exceeding the cost thereof shall be profit fund, and paid into the credited to a special fund denominated the silver-profit fund. Treasury. This fund shall be charged with the wastage incurred in the silver coinage, and with the expense of distributing said coins as hereinafter provided. The balance to the credit of this fund shall be from time to time, and at least twice a year, paid into the Treasury of the United States.

Silver coins to be paid out where and for what.

R. S., 3527, post, p. 117.

Proviso.

Purchase of metal for the

p. 117.

profit fund.

SEC. 28. That silver coins other than the trade-dollar shall be paid out at the several mints, and at the assay-office in New York city, 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 Secretary of the Treasury; but nothing herein contained shall prevent the payment of silver coins, at their nominal value, for silver parted from gold, as provided in this act, or for change less than one dollar in settlement for gold deposits: Provided, That for two years after the passage of this act, silver coins shall be paid at the mint in Philadelphia and the assay-office in New York city for silver bullion purchased for coinage, under such regulations as may be prescribed by the Director of the Mint, and approved by the Secretary of the Treasury.

SEC. 29. That for the purchase of metal for the minor minor coinage; coinage authorized by this act, a sum not exceeding fifty R. S., 3528, post, thousand dollars in lawful money of the United States shall be transferred by the Secretary of the Treasury to the credit to be carried on of the superintendent of the mint at Philadelphia, at which only at Philadelphia. establishment only, until otherwise provided by law, such coinage shall be carried on. The superintendent, with the approval of the Director of the Mint as to price, terms, and quantity, shall purchase the metal required for such coinage by public advertisement, and the lowest and best bid shall be accepted, the fineness of the metals to be determined on Minor-coinage the mint assay. The gain arising from the coinage of such metals into coin of a nominal value, exceeding the cost thereof, shall be credited to the special fund denominated the minor-coinage profit fund; and this fund shall be charged with the wastage incurred in such coinage, and with the cost of distributing said coins as hereinafter proMinor coins vided. The balance remaining to the credit of this fund, able, &c.; and any balance of profits accrued from minor coinage under former acts, shall be, from time to time, and at least twice a year, covered into the treasury of the United States. SEC. 30. That the minor coins authorized by this act may, at the discretion of the Director of the Mint, be delivered R. S., 3529, post, in any of the principal cities and towns of the United States, at the cost of the mint, for transportation, and shall be exchangeable at par at the mint in Philadelphia, at the discretion of the superintendent, for any other coins of copper, bronze, or copper-nickel heretofore authorized by law; and

where deliver

exchangeable for what;

p. 118.

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