The daily union. [volume] (Washington [D.C.]) 1845-1857, 1850-09-20

An important measure TO commerce. in connexion with
the gold Of California; has Just been brought forward in
the Senate by Mr. Gwin, senator from that new State. II
proposes virtually that gold coins OF the values OF from
one hundred to ten thousand dollars each shall be struck
al the mint and lis branches
| The circular form hitherto universally followed for
small coins, which had its ognn the rude ancient con-
vance OF dropping the melted metal from ladle to be
then stack with punch and hammer, adaps them 10 sur
purses, but would not be appropriate for these gigantic
coins, designed for heavy Transactions al home and
changes abroad For these purposes they should be
rectangular that they may be convenient for packing
boxes.
These huge rectangular coins are but available and in
genous Improvement upon the limited and already exist
ing ingot system OF European bankers They are TO be
struck Of refined go Of uniform neness, and with ap
propriate legends and Devices similar TO those upon
smaller coins, with their values conspcuousy marked,
and the inscriptions LIBERTY and UNITED STATES
OF AMERICA, Counterieiting and muilation are pro-
vided against by suitable contrvances and penal enact
ments. @ Fiji
Truly there is something grand and imposing in these
massive coins OF refined gold adapted to the wealth OF
California something partaking of the progress and OF
the immense though undeveoped power and resources
of nation Small al frs in the days of our struggle
for freedom, under immortal Washington, like the
mustard seed, we growing rapidly to be mighty
tree, whose shelterng branches the birds from other
regions may take refuge from danger and build nests in
peace, happiness, and security.
BILLo facilitate commerce. by authorizing the manuac-
ure coinage OF large rectangular gold ingos Of
| the United States and for other purposes
Be il enacted That gold bullion brought the mint of the
United states, either Of lis branches officers and
s1a 1eaiter be eceved for the benefit d the deposor
TO be melted assayed refined and cast into large reo.aa-
values Of hundred, two hundred and fifty Ave hun
ded dollars OF the respective values Of FIVE ten
. And BE- il farther enacted That the standard fine
ness or the said rectangular gold coins ngots OF The Uni
weight nine hundred and eighty shall be Of pure god and
o %sn a"s aay n a a9 @ be
SEC Ard o i further s"aetsd Tha, the respective ,l
ted States shall be such they shall each the
same quantity OF pare gold that is required by law
the United states, and Of equal amount in value. ~
SEC aad 3: g liag srgeted Ths, pom the rec,an
be stamped side or face Of each Of said recn
IS Dsy and fn aa
the word LIBERTY also some discriminating mark 20 de.
The place where il was issued and upon the other side,
shall be stamped the denomination value, with the
united srArks OF AMERicA and portion OF each
and every Of The six surfaces aces of said rectangular
gold coins ingots, which shall not be impressed AS
aforesaid shall becoverci with skaiy devised acery OF
SEC And BE- il further enaeed, Tha, all the dies that
shu be used 70 stamp rectangular gold coins or ngo o
Tue United States shall be and registered by the
ssc. g. And be further enacted, That each of the
ass asI gaa CONS 1 o. q the United des 70 be I'm,
be within the limits allowed for deviation from the stand
il 10 he m, lie aud ref ne % be adjusted in weight
SIC And De further enaefsd, That no rectangular
gold ngot shall bc stamped by the OF which the
hneness dars ihan the halt Of ono-housandth from
4 g. 49, ~ I,.,l.. ~, ,,.i,,.
ard tener shall have adjusted the weight Of stamped in
got ae assayef shall weigh and If 10 be within
the sssayer shall srnp with its weight and dscrimna
ting mark and the meter and rener Shall then deliver
src .. Had be ii further enaeted Tha, the treasurer
iro the rener and il shall be the duty of The
colner 70 take and stamp or strike upon each OF them the
value, conspicuous characters, and he shall deliver it,
without any allowance for wasmge to the treusureri who
shall the time carefully examine that It's weight has
been impaired. And at the assay offices, this duty OF
stamping striking upon the rectangular gold COINS o in
shall be performed by the meier and rener before he shall
deliver the to the treasurer.
SEC TO- A~d BE- further enacted That in adjusting the
respective weieht' Of the gold coins or ingos o.
inc unea states no lnxot snsi dnef more tha TWO one
dthousandth parts IN weight from its legal Stand
ard 4 s#
gold coins gos OF the United States the only subjects Of
charge the deposter shall be the following For refining
when the bullion below standard Tor cughening when
me tai. contained which brittle unit
for conase and Tor separating the gold and silver when
OF charges shall be fixed IRON time time, by
director of mint aud the Secretary OF the Treasury and
shall be the tue rate OF charges for the
lions performed upon bullion deposited In the mint and Its
branches lot coinage into small gold coins .
SIC IL drd be further enacted, That charge shall
be lde 70 the deposition OF gold baion Tor copper
used for shoy Of gold CONS OF ingots.
Sac. IL had De further ezcted That the treasurer OF
the United states, the assistant Of the United
States the ireas0fes OF the mint It's branches and assay
Offices and the designated dc storie OF tue treasury
any time rectangular gold coins ngots OF the
United States ia exchange Tor small gold silver coins ci
the United stsies and shall be lawful for the mint oil the
United States aud branches rectangular gold
coins ngos OF the United States small CONS but the
shall be delivered the meter and ehner bullion
by weight and actual assay.
$40 u And bs II further enacted That for all sums
whatever rectangular gold ngots Of tho Unted
Smtes made In pursuance of the provisions OF this
shall be legal tenders OF payment according TO their nomi.
nal values
SIC Is. dni be u further enacted, That, due
conformity ia the rectangular gold ingots Of the
United States their respective Standards OF weight and
hnenes, specimens thereof shall be selected, transmitted
TO the director oil the mint, and examined before the
missiones OF afsay, who shall annually the mint,
Ia the and an pursuance OF the regulations pre-
scribod by sections ~ and 30 OF the supplementary
the ac, ESTABLISHING mint aud regulating be CONS Of the
United States. approved Januufy 49, 1857 And the bet
the tad conformity, shall be the duty OF the
director OF the mint, from tmc take indscrmi-
aae from the circulation OF he rectangular gold
coins ngos OF the United States and such exami
thereof be made he may consider III and requi-
+ site.
SEC l6 And be further enacted That if any Of the
a0guaf gold COINS or ngos Of the United States, which shall
be made at the mint either OF its branches or assay
offices shall be debased made 10 the proportion
of gold that ought be therein contained shall BIO
less weight value than the ought be
mi