New-York tribune., 1873-04-15
COINS OF True WEIGHT

INCONVENIENCE CAUSED BY THE NEW COINAGE
ACT-THE GovERyMENT THE HEAVIEST LOSER
The act of Congress relating to gold coins
OF the United States recently noticed in THE TRIBUNE
has given occasion vast amount Of additional labor
and some expense the part or all who are required to
handle large amounts The section of the acc referred
to Is follows;
Az Act revising and smsOnE hs laws relative to the ~n A'aT
SECTION a. Tbat the GOLD coins OF the United States
weight OF twenty five and eghttcnths grams shall he
the unit of value "A quartereaRle Or two apd ID haf
dollar piece an eagle or ten dollar piece, ana double
eagle twenty dollar piece Aud the standard "eeht
of tbe gold dollar shall be twenty 1--we and tgIttCnOh
graius the qusrter-eagle or Two and haIl Goi1r
piece, s1ty-fonr ana halI grains Oh ine .ee 1
eagle OF five dollar pieCe one huBdred 'hd Ney,hIhe
Us. of the eagle or ton dollar piece two hundred aud
fffy-eght grains OF the dOube-ea2e or twenty d0uar
niece five hundred and sixteen grams Wlic cOlIs s
be legal tender IN all payments az ted d oer
auce provided in this act Tor th0 shSie piece a WIN
reduced in weight below said standard and tolerance
sI lie legal tender at valuation ia proportion 20 their
actual weight and any goa cola Oi thc Oihtou SIes,
e h,lf of one uer ceutum below tho standard weight
prescribed rs law after circulation Vt tNeny years
- shawn by its date OF coinage, and ~ TaGtDe pro
,,ion for any UerOd less than twenty years shall be
received at their nominal value ny the OhIIeu states
TrcasJry aud its officers, under such regulations as
te secretary OF the Treasury may prescribe Tor tho
tIrotectiOn OF the Government against lraudulenJ
abrasion or other practices; and any gold coin IN the
rrasnrv of tie United reduced IN weight below
mis- limit OF abrasion shall be reconed
The circular OF tie Secretary directs customs officers
and others TO receive coin when rendered. to give con
dona receipt therefor showing the nominal aud est-
mated value ia the abstract aud, after registering tho
amount in the bo kept Tor the purpose, 20 sodd
n 10 the u S. Mint at Philadelphia or San FrancHeo
There twin 6e examined, and equal amount VIII be
deposited With the United states Assistant Treasurer OF
the CITY from which il is received no coin Of less than
tic least current weight Will hereafter be permitted TO
be disbursed by any Government officer.
Mr. Ashley Chief Of tic Coin Department ot the u =.
subTreasury stateo that this act ontaed an nmonse
amount Of Work upoa bis department.. IL obliged the
clerks 10 weigh every piece OF gold coin 10 see II u was
Of the required standard Tho sub-Treasmy received
daily from customs between $4,000 and sl5OOOO IN
com, aud from the banks exchange for coin GER
a total OF at least $4,000 An average wcghcr eau
coIut aud weigh unoef tne system between 5000
end go GAY iI quarter eagles Tho latter ~
extreme figure, but tins basis 80 additional employees
VII be etded Gicat has been The diCtY That tuo
cub.Ireasury on rltaru&Y dccucI W receive
gold from the banks and there ~ tgrn, Wil be iucOnye
irured from the want OF ccrthcl'eh. Mr. Ashley SAYS
tla: coins which haze lost half OF per cent axe
Many Of the specie dealers charging Discount Of
ono lef cent ou small THO double eagiCs slO
,,I,res are usually standard coins. To many dealers
Slo nave large auOIuh OF COM on hama tlo new act
II cuee los HtIriy an tf3 smaller coins, except
tine m recent tltc, slrcroi from abrasion pud
. g,y,ciins." Tie O"y"rnf1unt, however Viii 40 tho
t.yt .er ae ls as Lc uulk 90 tho cola ~ ts Yaulr,
How much q Niu lose eau ouy be determined by actual
NtlsHtf