Knoxville daily chronicle. [volume] (Knoxville, Tenn.) 1870-1882, 1873-04-03

Sec. n. That in order to procure bullion for
the silver coinage authorized by this act the
superintendent with the approval of the Direc-
tor 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 ex-
ceeding the cost thereof shall be credited to
special fund denominated the silver profit fund.
CURED in the silver coinage and with the e1-
pense of distributing said coins IS hereinafter
provided. The balance to the credit Of this
fund shall be from time to time and at least
twice year, paid into the treasury of the Uni
Sec. q. That silver coins other than the trade
dollar shall be paid out at the several minis 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 treasnrers, 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 NOM
vided 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 Phila-
delphia and the assay Office in New York city
for silver bullion purchased for coinage under
Director of the Mint. and approved by the Sec
rotary of the Treasury, c p.
Sec. %. That for the purchase of metal for the
minor coinage authorized by this act, q sum not
exceeding fifty thousand dollars in lawful money
of the United States shall be transferred by the
Secretary of the Treasury to the credit of the
superintendent Of the mint at Philadelphia, at
which establishment only, until otherwise pro-
vided by law, such coinage shall be carried on.
The superintendent, with the approval of the
director of the Mini as to price, terms and guam
tity, shall purchase the metal required for such
coinage by public advertisement and the lowest
and best bid shall be accepted, the fneness Of
the metals to be determined on 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 funn shall be charged with the wastage in
CURED in such coinage and with the cost of dis
tributing said coins as hereinafter provided.
The balance remaining to the credit of this fund
and any balance of profits accrued from minor
time, and at least twice year, covered into the
treasury of the United States.
Sec. 80. That the MINOR coins authorized by
this act may at the discretion eff the Director of
the Mint, be delivered in any of the principal
cities and towns of the United States at the cost
of the mint, for transportation, and shall be e1-
changeable at par at the mint in Philadelphia.
at tho discretion of the superintendent, for any
other coins of copper, bronze or copper nickel
heretofore authorized by law; and it shall be
lawful for the Treasurer and the several assis-
tant treasurers and depositaries of the United
rules as may be prescribed by the Secretary of
the Treasury, all copper, bronze and copper
nickel coins authorized by law when presented
in sums Of not less than twenty dollars; and
whenever, under this authority, these coins are
presented for redemption in such quantity as to
chox ho tn no m nj
the Secretary of the Treasury is authorized and
required to direct that such coinage shall cease
until otherwise ordered by him.
Sec. 81. That parcels Of bullion shall be, from
time to time, transferred by the superintendent
to the meter and refner; a careful record of
these transfers, netting the weight and character
of the bullion, shall be kept and vouchers shall
be taken for the delivery of the same, duly re-
ceipted by the melter and refner, and the bullion
thus placed in the hands of the melter and re-
finer shall be subjected to the several processes
which may be necessary to form it into ingots
of the legal standard, and of quality suitable
for coinage.
Sec. 3d. That the ingots so prepared shall be
assayed; and if they prove to be within the
limits allowed for deuiatlon from the standard,
the assayer shall certify tho fact to the superin-
tendent, who shall thereupon receipt for the
same and transfer them to the coiner.
Sec. 33. That no ingots shall be used for coins
age which differ from the legal standard more
than the following proportions, namely: In gold
ingots one thousandth !; in silver ingots, three
in minor coinage alloys, twenty
Eve thousandths, in the proportion of nickel.
Sec. 81. That the melter and refner shall pre-
pare all bars required for the payment Of de-
posts; but the fneness thereof shall be ascer-
The melter and refner shall deliver such bars to
the superintendent, who shall receipt for the
same. s..'t
Sec IS. That the superintendent shall, from
time to time, deliver to the coiner ingots for the
purpose of coinage; careful record Of these
transfers, noting the weight and character of
The bullion, shall! be kept and vouchers shall be
ceipted by the coiner and the ingots thus placed
in the hands of the coiner shall be subjected to
the seevrael processes necessary to mako from
them coins in all respects conformable to
law.
Sec sc. Thatin gdusting the weights of the
gold coins, the following deviations shall not be
exceeded in any single piece; In the couble
eagle and the eagle, one half of a grain in the
half eagle, the three dollar piece, the quarter
eagle and the one dollar piece, one fourth of q
And Sdn in Nsgnss number Sa eens Of PIECES s
and by the superintendent to
to the deposttor, the deviation from the stand
ard weight shall not exceed one hundredth OF
an ounce in five thousand dollars in double
eagles eagles, half eagles, or quarter eagles, in
thousand one dollar pieces.
Sec. 81. That in adjusting the weight of the
silver coins the following deviations shall not
be exceeded in any single piece: In the dollar,
the half and quarter dollar, and in the dime,
one and one half grains; and in weighing large
numbers of pieces together, WIN delivered by
the coiner ty the superintendent, and by the
to the depositor, the deviations
from the standard weight shall not exceed two
hundredths of an ounce in enc thousand dollars,
half dollars, or quarter dollars, and one hum
dredth Of an ounce in one thousand dimes.
Sec. SO. That in adjusting the weight of the
minor coins provided by this act there shall be
no greater deviation allowed than three grains
for the FIVE cent piece and two grains for the
three and one cent pieces. sElrFiF5
Sec 80, That the coiner SHALL from time to
lime. as coins are prepared, deliver them to the
who shall receipt for the same,
and who shall keep cereful record of their
kind, number, and actual weight; and in re-
receiving coins it shall be the duty of the SUI
to ascertain, by the trial of num-
Der Of single, pieces separately, whether the
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