Republican vindicator. [volume] (Staunton, Va.) 1849-1857, 1857-03-07
The New Coinage Bill.

The new coinage act, as passed and ap-
proved by the President, differs somewhat
from what was reported 1t is as follows
An act reloting to foreign coins and to Me
coinage Of cents at tie mint Of the United
States.
BE it enacted by the Senate and House
of Representatives of the United States OF
America in Congress assembled, That the
pieces commonly known as the quarter,
eighth, and sixteenth of the Spanish pillar
dollar, and of the Mexican dollar, shall be
receivable at the treasury of the y. 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 dollar, or piece of one
real at ten cents, and the sixteenth Of dol
lar. or half real at five cents.
Section q And be it further enacted,
That the said coins, when SO received, shall
not again be paid out, or putin circulation
hut shall be recomed at the mint. And il
Shall 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
the return or distribution of the proceed.
thereof, when deemed expedient, aud to pre-
scribe such forms Of account as may be ap-
propriate and applicable to the circums,an-
ces: Provided, That the expenses incident
to such transmission or distribution, and OF
re-coinage, shall be charged against the ae-
count of silver profit and loss, and the net
profits, if any, shall be paid, from time tt
time, into the Treasury OF the United States
Section g. And be it further enacted
That all the former acts authorizing the cur.
rency of foreign gold or silver coins, ant
declaring the same legal tender in payment
for debts, age hereby repealed but it shall
he the duty of the director of the R.int It
cause assays to be made, from time to time
of such foreign coins as may be known II
our commerce, to determine their averag,
weight fineness and value, and to embrace
in his annual report statement of the re
suits thereof
Section 4 And be it further enacted
| That from and after the passage of this &c
the standard weight of the cent coined at til,
mint shall be seventy-two grains. or three
twentieths of one ounce troy, with no great
er deviation than four grains in each piece
and said cent shall be composed of eighty
light per centum of copper and twelve p
centum of nickel, Of such shape and dew
rs may be fixed by che director of the min
with the appreciation of the Secretary of til.
Treasury and the coinage of the half ecu
shall cease.
Section s. And be it further enacted
That the treasurer of the mint. under Ia,
instruction of the Secretary Of the Treasury
shall, from time time, purchase from thl
bullion fand Of the mint the materials nee
cssary for the coinage of such cent piece
and transfer the same to the proper opera
! tive officers of the mint to be MANUFACTURED
and returned in coin. And the laws in fore.
relating TO the mint and the coinage of pre-
cious metals, and in regard to the sale anf
and distribution Of the copper coins shall
so far as applicable be extended to the coin
age herein provided for: Provided, Tha
the net profits of the said coinage, ascertain
ed IN like manner as is prescribed in the Sc
cond section of this act shall be transferred
to the treasury of the United States.
Section g. And be it further enacted
That it shall be lawful to pay out the sale
cent at the mint in exchange for any of tn
gold and silver coins in the United States
and also in exchange for the former eoppe
coins issued; and it shall be lawful to trans
nit parcels of the said cents, from time t,
time, to the assistant treasurcrs. repositories
and other officers of the United States un
der general regulations proposed by the di
rector of the mint, and approved by the Sec
rotary of the Treasury, for exchange a
aforesaid And it shall also be lawful fo
the space of two years from the passage 0
this act, and no longer, to pay out at tn
mint the cents aforesaid for the fractional
parts of the dollar hereinbefore named q
their nominal value of twenty five, twelve
and-a-half and six-and-a-quarter cents, re
spectively.
Section 7. And be it further enacted
That hereafter the director of this mint shall
make hiss annual report to the Secretary o
the Treasury up to the thirtieth of June il
each year, so that the same may appear il
his annual report to Congress on the ii
nances.