Wilmington daily commercial., 1873-05-08

LAW 5 OF THE UNsTED STATES
Pusssd OF the THIRD Session Of the Forvsecoad Con.
i.U.f NJ Rress.


GENERAL NATURE No. ell
AN ACT revising and amending the laws relatiy
to the mint, assay Offices, and coinage of the URi
(coNTINUnDJ
SIC. H. Thst the silver coins of the Unite,
states shall be trade-doar . half dollar or md
piece. q dime or ten-cent piece; and the weight o
the tradedollsr shall be four hundred and twent
Twelve grams (grammeal and one half Of gran
(gramme y the quarter-dollar and the dime shall b.
reapaCtVely. One-haf and One-nfth OF the weight o
said haif-dollar and said coins shall be legal ten
der a. their nominal value for any amount not ex
ceeding 1--WE dollars In any one payment.
SEQ. ID That the mincS coins Of the United STATED
shall be a nve cent piece three-cent piece, and
cent eces snslI be Of copper and nickel 70 be conn
posed of threefourths copper and onefourth nickel
and the alloy for the onecens piece shall be ninety
dive per centum of copper and i've per centum II
tin end zinc, in such proportions as small be deter
mined by the Director Of the Mint. The weight OF
the piece of i've cents shall be seventyEeven and
sixteen hundredths grains troy; of the three-cent
piece thirty grains and OF the one-cent piece forty
eight grains; which coins shall be legal tender al
their nominal value, for any amount not exceeding
twenty-five cents In anyone payment.
minor coinage, shall hereafter be issued from the
mint other than those OF the denominations stan
dards and weights herein set forth
there shall be the following devices and legends
Upon size there snail be an impression emblem
attic of liberty with an inscription of the word Lib
erty and the year or coinsge and upon the reverse
shall be the figure or represen alton Of an eagle,
and k Pluribus Unum, 4" and q designation Of the
value of the coln but on the go dollar and three
pses he sur ss Of The eagle snail be- omteS ana
tine reverse Of thehsyer stradedollar the lweght
and oneness of the coin shall be nsoribed and the
Director of the Mint, with the approval Of the see-
Rotary of the Treasury, may cause the motto In
God We trust to be inscribed on such coins as shall
admit of such motto; and any one OF the foregoing
inscriptions mag be on the rim OF the gold and sill
SEo 10 That at the option OF the owner gold or
oliver be cast into bars of fine mata mr.
of standard 1nenesa or impaired, az he may prefer
with stamp upon them designating the weight and
nReness,a and wlthsuch devices impressed thereon as
may be deemed expedisnt TO prevent fraudulent i'm
itatiOn, and no such bars shall be issued OF less
$40 20. That any owner of gold bullion may de-
posit the same at anv mint to oe formed into coin
or bars for his benent but 1t shall be lawful to re
fuse any deposit of less value than hundred dol
lars, or any bullion 80 base as to be unsuitable for
the operations of the mint; and when gold and sill
yer are comb ned II either metal be In such small
proportion that 1t cannot be separated adyan-
taeeousy, no allowance shall be made TO the depos
SEC. 81. That any owner of silver bullion may |
deposit the same at any mint TO be formed into |
bars or into sOlars OF the weight OF four hundred
and twenty grains, troy, designated In this as
trade dolars,a no deposit OF silver for other con
age shall be received; but silver bullion contained
In gold deposits and separated therefrom may be /
paid for in silver COIN at such valuation mag be
from time to time, established by the Director of
Sec. 70. That when bullion Is deposited in any of
the mlnts, It shall be weighed by the superintend-
ent, and, when practicable, In the presence of the
depositor, TO whom receipt shall be given, which
shall state the description and weight the bullion
but when the bullion is in such state TO require
melting, or the removal OF metals, before its
value can be ascertained the weight after such OPP
Grafton, shall Ne considered the true weight OF the
bullion deposited the fitness of the bullion TO be
received shall be determined by the assayer, and |
the mode Of mel ing by the meter and renner.
SKC %. That from every parcel OF bullion deposit
ted for coinage or bars the superintendent shall de-
liver to the assiyer asuficlentpOrtion for the pur-
pose OF being assayed, huassuch bullion remaining
from the operations OF the assay snail be returned
to the superintendent by the assayer:
SEQ. ~ That the assayer shall report to the SUI
perlntendent the quality or nneness OF the bullion
asBayed by him. aud such Information as will ena-
BILE hm to compute the amount of the charges here
mater provided for, to be made to the depositor.
SEC. 70. That the charge for converting standard |
gold bullion into coin shall be one fifth Of Ter
Centum; and the charges for converting standard
silver into trade dollars, for melting and refining
when bullion Is below standard, for toughening
Mt Tor coinage, for copp5 used for alloy when the
bullion is above Standard, for separating the gold
bullion andfor the preparation OF bars, shall be tx
ga from time 10 time by the Director, with the
cuTre1ce OF the Secretary Of the Treasury, 80
equal but not exceed ia their Judgment the actual
average cost to each mint and assay ofiice OF the
matera; labor, wastage, and use of machinery en-
SIC. 20. That the assayer shall verify all calcuIa-
tons made by the superintendent of the value Of |
deposits and II satisfied OF the correctness thereof
shall countersgn the certificate required TO be given
by the superintendent to the dsposltor.
=. EXC ~ Ihat In order 70 procure bullion for the
lendents, with the approval Of the Director Of
sne Mint as TO price, terms, and quantity, shsll
purchase sucn bullion with the buli0n-fund, The |
gain arizing from the coinage Of such silver bullion |
into coin OF nominal value exceeding the cost :
mated the sllver-pro1t fund This fund shall be
charged with Wastage incurred in the silver coinage
and with the expense OF distributing said coins rs
hereinafter provided. The balance to the credit OF
This fund shall be from time to time, and at least
.slce year paid into the treasury Of the UnitGd
SEC. qs. That silver coins other than the trade
dollar shall be paid out at the several mints aud at
Lhe assay-omce In New York city, in exchange for
gold coins at parin sums not less than one hundred
dollars; and IL shall be lawful also to transmit par
lels OF the same from time TO time, to the assistant
leasurers, depositaries, aud other officers OF the
nlted States under general regulations proposed
by the Director of The Mint and approved by the
Secretary OF the Treasury; but nothing herein cen
famed shall prevent the payment OF silver coins, at
lheir nominal value, for silver parted from gold as
provided In this act, or for change less than tne
iolar In settlement for gold deposts Provided, | "
Iha for two years after the passage Of this act sill "a
and the assay IN New York city for silver bull 90
len purchased Tor coinage, under such regulations II
IS may be prescribed by the Director of the MINT .
md approved by the Secretary of the Treasury.
That for the purchase OF metal for the minor
INV n 1y ms aSt sum not exceeding
,lates shall be transferred by the Secretary OF the
treasury 70 the credit OF the superintendent Of the
mint at Philad lphia, at which establishment only,
mil other se provided bylaw, such coinage shall be
arred on. The superintendent, with the approval of
ne Director OF the Mint as to prca terms, and guam
lty shall purchase the metal required for such
Olnage by public advertisement, and the lowest
lnd best bid shall be accepted, the fnenesa OF the
Metals 10 be determined on the mint assay The
Ialn arising from the coinage OF such metals into
ON Of nominal value, exceeding the cost thereof
lall be credited TO the special fund denomiG ated
ne minor coinage profit tund; and this fund shall
~ emerged with the wastagc lncu red in such coin
ge and with the cost OF distributing said coins as
lerelnatter provided. The balance remaining to
ne credit OF this tnnd, and any balance OF profits
cerned from minor coinage under former acts, shall
le, from time to time, and at least twice year.
'overed Into the Treasury OF the United states.
etC. sO That the minor coins, authorized by this
n.y. may at the discretion OF the Director OF tine
nn De delivered In any of the principal cities snd
owns Il the United States at the cost OF the mint
VI transportation, and shall be excnangeable az
,ar al the mint In iadephia, at the discretion OF
ne superintendent for any other coins OF
opper bronze, or copper-nlckel heretofore author
Ecu Dy law; and 1t shall be lawful for the Treasur-
" ana the several assistant treasurers and deposit
aries OF the United states redeem In lawful
monS " under such rules BB may be prescribed by
sns secretary OF the Treasury, all copper, b ONE
aha copper-nickel coins when authorized by law
'Ullaisi and whenever under this authority, these
olhs are presented for redemption in such quantity
y 10 show the amount outstanding TO be redundant
ne secretary OF the Treasury is authorized and
1ileu 10 direct that such coinage shall cease until
'therWlse ord red BY him.
oeu. VI. That parcels of bullion shall be, from
ilne 70 time, transferred by the superintendent to
,ie metef and retner, careful record OF these
innn.slers, noting the weight and character of the
union small be kept and vouchers shell be taken
vi Tue delivery OF the came. duly reCtiDted