The Hillsdale standard. [volume] (Hillsdale, Mich.) 1851-1909, 1852-04-20
silver Coinage. CIs., e.

In the United States Senate on Tuesday,
Mr.. Hunter. from the Committee on Finance,
reported bill in relation to the coinage of the
half dollar, quarter dollar, dimes. and half
dimes.
The bill was accompanied with report. set
ting forth the necessity Of on immediate
change in tho silver coin Of the United States.
in order to prevent its expectation to Europe,
where 1t bears relative higher value to gold
than it does here. They therefore adopt the
recommendation Of the Secretary of the
Treasury. made in his annual report, and pre-
sent bill accordingly. s.tl af ishg5h1 .
The bill provides that from and after tho Isl,
OF June, 1850, the weight of the half dollar is
to be l62 grains; and the quarter dollar, dimes,
and half dimes shall bo respectively one. hall,
one-hfth. and one-tenth of the weight
OF half dollar; which coin Is made q
legal tender in payment of all sums not ex-
cceding Sc. The Treasurer Of the Mint, with
the approval Of the Director. to purchase such
bullion as is required for the coinage with the
bullion Of the mint. Such coins to be paid
out at the mint in exchange for gold coins at
par in sums Of not less than Sl00. The
amount coined into quarter dollars, dimes, and
half-dimes. 10 be regulated by the Secretary
the Treasury. No deposits for coinage into
small pieces hareafter to bo received other
than that received by the, Treasurer of the
Mint. DeDositors having tho option or hav-
ing the option of having their gold or silver
cost into Bars OF ingots of pure metal or OF
standard fneness, with stamp designn the
same. No piece 10 DO cast into bars of less
weight ten ounces, except pieces Of one, two,
three, and five ounces, all of which shall oe of
the standard incness, with the weight and
fineDess stamped upon them.
The new silver coin is to be a legal tender
only to the amount of FIVE dollars but it is to be
receivable in payment of public dues, and to
avoid the change that such demand for the
new coinage might give to the injury of the
general currency of the country. the bill pro-
vides that tho new coin shall not be struck
upon the demand of depositors, but under the
direction of tho Secretary of the Treasury,
who can thus always limit the amount.
The bill also provides for the coinage of three
doller gold pieces. The shape and device OF
which are to be fixed by the Secretary of the
Treasury. lH
The committee have also adopted the recon
mendaton to seignorage, and say:
Tn, mines Of this country are likely to be
como so expensive. and the qualities of the
precious metals manufactured in them are al
| ready so large. that 1t woule seem TO be proper
to impose some legal change upon the man
ufactnre for the purpose Of sustaining the
rnints The amoant Of signorage is ques
tion of some practical difficulty, bur the change
now proposed is somewhat less than that ex
acted in England or France. In France tn,
charge is one half per cent, on gold. and ono
and half per cent, upon silver. In EnsIant
ono and a half per cent. upon gold, and two
aud oneeighth per cent, upon silver. We pro
pose the chargeto depnsitors one half of on,
per cent, for both gold and silver, denying
them. however, the right of having the new
silver coin struck on their accounts. 60 s'-