Iron County register. [volume] (Ironton, Iron County, Mo.) 1867-1965, 1895-07-11
Coinage Laws of the United States.
NUMBER w.

NUMBER w.
From the St. Louis Journal of Agriculture.
Following the general coinage Law
of 1887, the next coinage act passed b,
congress was March 8. 1S43. This ac
provided that certain gold coins o
Great Britain should pass current ir
the United States and their value was
fixed; also the silver coins of Spain
Mexico, Peru, Bolivia and France.
The act of March 8, 1849, author
lied the coinage of double eagles and
gold dollars, and made them legal ten
der.
The act of March 8, 1851, besides
containing provisions for reducing and
modifying the rates of postage. also
authorized the coinage of three-cent
pieces consisting of three-fourths silver
ana one-fourth copper, and to weigh
twelve and three-eights grains: and to
be legal tender in payment of debts
for all sums under thirty cents.
Act of July 8. 1854. established a
mint in California. That law provid-
ed that if required by the holder, gold
in grain or Jumps should be refined,
assayed and cast into bars or ingots
ano stamped to fineness of the bar at
the expense of the holder of bullion.
The act of Feb. 21, 1858, reduced the
amount of silver in a half dollar from
2O6i grains to 1872 grains, and the
weight of the quarter, dime and half
dime accordingly. To get bullion for
these minor coins the treasurer of the
mint was authorized to purchase it with
the bullion fund of the mint. Silver
coins of the denominations enumerated
were made legal tender in payment
of all debts for all sums not exceeding
IS. Section provided that such coins
should be paid out at the mint in ex-
change for gold at par. in sums not
less than $1.OO. Our statesmen at
times regarded silver as .ssafe'' and
"sound" money as gold. Section 6
required depositors of bullion, in addi-
tion for charges for refining, to pay
one-half per cent. to the mint for cast
ing into bars or for coming. Section
authorized the coinage of gold coins.
The act of March 8, 1858, provided
that the charge for refining, casting
bullion into bars should be equal to,
but should not exceed the actual cost
of the operation, including labor, was
tage, use of machinery, materials, etc.
The weight of the three cent silver
coin according to a provision of this
act was to be equal to three-fifths OF
the half dollar, as authorized by the
act of Feb. 21, 1853.
March 8, 1858, an act making appro-
priations for the civil and diplomatic
expenses of the government provis-
ions was included, that mint profits
were to be paid into the treasury.
The secretary of the treasury was au-
thorived to limit the amount of public
minting as soon as private establish
ments were considered capable of do
Ing such work, the object being ulti-
mately to exclude bullion from the
mints if it needed refining. Section 10
an assay Office at New York,
and made provision for the proper Of
ficers.
The act of February 21, 1857, deter
mined the legal tender value of Span
ish and Mexican coins. and provided
that when received they should be re-
coined. Section repealed former acts
making foreign coins legal tender in
the United States. The weight of the
coins was fixed at seventy-two
grains. consisting of IL per cent. nickel
and eighty-eight per cent. copper. 1t
was made lawful for said copper cents
TO be paid out by the mint in exchange
Tor gold and silver coins of the United
States. The government was a strang-
Or then to the terms "cheap" money.
It would even exchange it's copper
coins for its gold coins-all were hon.
sst money. Our government officials
now could profit by that example. and
IN so doing could remove the stigma
rom silver. But under the influence
,f, and at the instigatioD of the gold |
owners, gold is treated as the only
money of redemption.
The act of April %. 1864. changed
he cent, making it consist of forty
eight grains-ninety-fiv per cent. cop
per, and five per cent. tin and zinc. |
The coinage of a two-cent piece OF the
same composition was also authorized.
The one-cent pieces were made legal +
lender in the payment of sums of ten
cents, and two-cent coins to the extent |
Of twenty cents.
March 8, 1865, an act was passed. |
the coinage of q Scent |!
piece. composed OF 25 per cent nickel |
and seventy-five per cent. copper. and
10 be legal tender In any payment to
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