San Antonio daily light. [volume] (San Antonio, Tex.) 1886-1907, 1896-08-02
THE FIRST COINAGE ACT.
cold and Silver at a Ratio of Ffftee,

Gold and Silver at a Ratio of Fifteen
1912. Chapter xvi. An act es-
tablishing mint, and regulating the
coins of the United States.
Section 8. And be it further enact
ed, That there shall be from time to
time struck and coined at the said
mint coins of gold, silver, and copper,
of the following denominations, viz:
Eagles-Each to be of the value of $40
or units, and to contain 24.7 grains of
pure of q grains of standard gold.
Dollars or units-Each to be of the
value of a Spanish milled dollar, as
the same is now current, and to con-
tain 81 grains and 4-16 parts, of a
grain of pure, or AIS grains of stand
ard silver.
Sec. IL. And be it further enacted,
the proportional value of gold and sill
yer in all coins which shall by law be
current as money within the United
States, shall be as 10 to l, according to
quantity in weight, of pure gold or
pure silver; that is, silver shall be of
equal value in all payments which one
pound weight of pure silver shall be
of equal value in all payments which
one pound of weight of pure gold, and
so in proportion as to any greater or
less quantity of the respective metals.
That the standard for all gold coins
of the United States shall be eleven
parts fine to one part alloy; and ac-
cordingly that eleven parts in twelve
of the entire weight of each OF the
said coins shall consist of pure gold,
and the remaining one-twelfth part or
alloy; and the said alloy shall be COM
posed of silver and copper in such pro-
portions not exceeding one-half silver
as shall be found convenient, to be
regulated by the director of the mint,
for the time being, with the approba-
ton of the president of the United
States until further provision shall be
made by law.
Sec. l3. And be it further enacted,
That the standard for all silver coins
of the United States shall be
Low; and accordingly that 14S5 parts in
1864 parts of the entire weight OF each
said coins shall consist of pure silver,
and the remaining 179 parts Of alloy;
which alloy shall be wholly OF copper.
Sec. IA. And be 1t further enacted,
That it shall be lawful for any person
or persons to bring to the said mint
gold and bullion in order to their be-
ing coined; and that the bullion so
brought shall be there assayed and
coined as speedily as may be after the
receipt thereof, and that free Of ex-
pense to the person or persons by
whom the same shall have been
brought And as soon as the said
bullion shall have been coined, the
person or persons by whom the same
shall have been delivered shall, upon
demand, receive in lieu thereof coins
of the same species of bullion which
shall have been so delivered, weight
for weight, of the pure gold or pure
silver therein contained provided,
nevertheless, that it shall be at the
mutual option of the party or parties
bringing such bullion, and of the d.
rector of said mint, to make an i'm
mediate exchange of coins for stadard
bullion, with deduction of one-half
per cent from the weight of the pure
gold, or pure silver, contained in the
said bullion, as an indemnification to
the mint for the time which will nee
essarily be required for coming said
bullion, and for the advance which
shall have been so made in coins.
Sec. 16. And be it further enacted,
That all the gold and silver coins
which shall have been struck at and
issued from the said mint, shall be a
lawful sender in all payments whatso-
ever. those of full weight according to
kspective values hereinbefore de-
md thaa>I1nfuieSs than full
val - their