Evening star. [volume] (Washington, D.C.) 1854-1972, 1873-03-01

| OF standard fneness, or impaired, as he may
| prefer, with stamp upon the same designating
\ the weight and fneEess, and with such device!
such bars shall be issued Of . less weight thar
4 five ounces.
| SEC. 20. That any owner OF gold bullion may
| deposit the same ut any mint, to be formed into
coin or bars for his benefit; but it shah be law.
full to refuse any deposit OF less value than one
hundred dollars, or any bullion 80 base as TO be
/ when gold and silver are combined, if either
metal be In such small proportion that It cannot
be separated sdyantsgeously, NO allowance
SEC. n. That any owner of silver bullion NAV
deposit the same at any mint, 70 be form nj into
barr, or into dollars of the weight of four hun
a arc ana grams troy designated in this
other coinage shall be received, but silver
bullion contained In gold deposits, and sepa-
rsted .hereirom, may Id for in silver coin,
established by the Director of the Mint
SIC %; That when bullion Is deposited in anv
OF the mints, it shall be weighed by tue 50 per-
inter and, when practicable, In the pres.
| be given, which shall state the description and
weight of the bullion; but when the bullion is
II such state As to require melting, or the
removal OF base metals, before its value can be
sscertained, the weight, after such operation.
/ swail be considered as the true weight of the
bullion deposited The fitness Of the bullion to
4 r.
and the mode Of melting by the melter and re-
| finer.
| SEC. %. That from every parcel of bullion
| deposited for coinage or bars. the superintend-
ent shah deliver to the assayer sufficient por-
ton for the purpose of being assayed, Int all
such bullion remaining from the operations of
the assay shall be returned to the superintend-
SEC, a. That the assayer shall report to the
superintendent the quality or fneness of the
| bullion assayed by him, and such information
4 as xrin anabt la m
| the charges hereinafter provided for, to be
| made to the depositor.
| SEo. Is. That the charge for converting STAN
dard gold bullion into coin shall be one fifth Of
! one per centum; and the charges for converting
| standard silver into trade-d0llars for melting
! and refining when bullionis below standard, for
tOughening when metals are contained in il
which render it unfit for coinage, for copper
used for alloy when the bullion Is above STAN
dard, for separating the gold and silver when
these metals exist together in the bullion, and
for the preparation of bars shall be fixed, from
time to time, by the Director, with the concur
renee of the Secretary Of the Treasury, so as to
equal but not exceed, in their judgment, the
actual average cost to each mint and assay-office
o. the material, labor, wastage, aud use of ma
ehinery employed in each Of the cases afore-
mentioned.
SEC. rs. That the assayer shall verify all cal
citations made by the superintendent of the
value of deposits, and, IL satisfied of the cor
cate required to be given by the superintendent
To- the deposftOr
SEC. ri. That in order to procure bullion for
the silver coinage authorized by this act, tire
siperintendents, with the approx al of the Di-
rector of the Mint, as to price, terms, and guam
thy, shall purchase such bullion with the bull
hDn-fund. The gain arising from the coinage
. such silver bullion into coin of a nominal
value exceeding the cost thereof shall be cred
tied to a special fund denominated the silver
p'oht fund..This fund shall be charged with
the wastage incurred IN the silver coinage, and
with the expense Of distributing said coins as
hereinafter provided. The balance to the credit
o. this fund shall be from time to time, at least
twice year, paid into the treasury ofthe United
States.
SEC. %. That silver ccinsother than the trade
dollar shall be paid out at the several minis,
a nj at the assay-ottice in New York city, in ex-
change for gold coins at par, in sums not less
tlian one hundred dollars; and it shall be lawful.
also, to transmit parcels of the same, from time
to time, to the assistant trcasurers, depOsitares,
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
nominal value, for silver parted from gold, as
provided i'm this act, or for change less than one
dollar in settlement for gold deposits: Pro
rtded, That for two years after the passage of
this act, silver coins shall be paid az the mint
in Philadelphia and the assay-Ofice in New
York city for silver bullion purchased for coin
age, under such regulations may be pre-
scribed by the Director of tie Mint, and APP
proved by the Secretary Of the Treasury.
SEC. y. That for the purchase of metal for
the minor coiRge authorized by this act, a
sum not exceeding fifty thousand dollars i'm law
fui money of the United States shall be trans
ferred by the Secretary of the Treasury to the
credit of the superintendent of the mint at
Philadelphia, at which establishment only
until otherwise provided by law, such coinage
shall be carried on. The Superintendent. with
the approval of the Director OF the Mint as to
price, terms, and quantity, shall purchase the
metal required for such coinage by public ad-
yertisement, and the lowest and best bid shall
be accepted, the fineness of the metals to be de-
termined 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 fund shall
be charged with the wastage incurred i'm such
| coins as hereinafter provided. The balance re-
naming 70 the credit of this fund.- and any bal
ance OF profits accrued from minor coinage I'M
| der former acts, shall be, from time to time,
| and at least twice year, covered into the trea-
| sury of the United States.
SEC. 80. That the minor coins authorized by
| this act may, at the discretion of the Director
| OF the Mint, be delivered in any of the princi-
pal cities and towns of the United States, at the
cost OF the mint, for transportation, and shall
| be eNchangeable at par at the mint in Phiadel-
phia, at the discretion Of the superintendent,
for any other coins of copper, bronze, or copper
nickle heretofore authorized by law; and it shall
| sistant treasurers and repositories of the United
states to redeem, In lawful money, II nder such
rules as may be prescribed by the Secretary of
| the Treasury, all copper, bronze, and copper
nickle 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
| show the amount outstanding to be redundant.
! 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 melter and refner; a careful record of
these transfers, noting the weight and charac-
ter OF the bullion shall be kept, and vouchers
| shall be taken for the delivery of the same duly
| receipted by the melter and refiner and the
! bullion thus placed in the hands of the melter
and refner shall be subjected to the several
processes which may be necessary to form it
into ingots of the legal standard, AMI of a
! quality suitable for coinage.
| SEC. 81. That the ingots 80 prepared shall be
! assayed; and If they prove to be within the
| limits allowed for deviation from the standard.
the assayer shall certify the fact to the supern-
tendent, who shall thereupOn receipt for the
same, and transfer them to the coiner
| SEC, 81. That no fngOts shall be used for COIN
age which differ from the legal standard more
! than the following proportions, namely: In
| gold ingOts, one thOusandth; i'm silver ingots,
! three thousandths; in minor coinage allows
twenty-five thousandtls, in the proportion Of
| nickel $500
SEC. 81 That the meter and refiner shall pre-
| pare all bars required for the payment of de-
| positsi but the fneness thereof shall be ascer-
| tanned and stamped thereon by the assayer. and