The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1896-08-09
THE FIRST COINAGE ACT.
Gold and Silver at a Ratio of Fiji
teen TO One.


teen 10 One.
1912. Chap. xvi An act estab-
fishing a mint, and regulating the
coins Of the United States
Section 9--And be it further enacted,
That there shall be from time to time
struck and coined at the said mint
coins Of gold, silver ana copper, of the
following denominations, values and
descriptions, viz: EagIes-Each to be
OF the value of $40 or units and to
contain 247 As grains Of pure, or go
grains OF standard gold. Dollars or
unlts-Each to be of the value Of a.
Spanish milled dollar, as the same is
now current, and 10 contain 81 4-16
parts Of a grain Of pure, or 416 grains
OF standard silver.
Section 1l--And be it further enact
ed, That the proportional value of
gold TO silver in all coins which shall
by law be current as money within the
United States, shall be as Is to l. &C.
coCdlng to quantity il weight, of pure
gold or silver; that is to say. every
nIteen pounds .geight of pure silver
S1all be Of equal value in all payments
with one pound weight of pure gold.
2nd so in proportion as to any greater
or less quantities Of the respective
metals.
Section 12-And be it further enact
ed, Ihat the standard for all gold coins
OF the United, States shall be eleven
parts fine to one part alloy; and ac-
cordlngly that eleven parts in twelve
OF the entire weight of each of the
said coins shall consist of pure gold,
ana the remaining one-twelfJh part of
alloy; and the said alloy shall be com
posed Of silver and copper, in such
proportions not exceeding one-hadf sill
Yer as shall be found convenient, to be
q f0x- II
for the time being, with the approba-
ton of the president of the United
States until further provision shah be
made by law.
Section 13-And be it further enact
ed, mat the standard for all silver
coins of the United States shall be
!, 485 parts fine to 179 parts alloy and
accordingly that 1.4S5 in 1.644 parts Of
the entire weight Of each of said coins
slhell consist of pure silver, and the
ngnaining 1T9 parts of alloy; which
alloy shall be wholly of copper.
Section 14-And be it further enact
ed. That it shall be lawful for any
person or persons to bring TO the said
mint gold and bullion in order to their
being 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-
penSa to the person or persons by
whom the same shall have been
brought And as soon as the said bull
lion shall have been coined, the person
or persons by whom the same snail
have been delivered. shall, upon de-
mand, receive in lieu thereof coins of
the same species Of bullion which have
been SO delivered w.aight for weight,
of the pure gold or pure silver therein
contained; provided, nevertheless, that
it shall be at the mutual option of the
and Of the director of said mint, to
make an immediate exchange Of coins
for standard bullion. with a deduction
of one-half per cent from the weight
of the pure gold. or pure silver con-
tanned in the said bullion, as an in
Identification to the mint for the time
which will necessarily be required for
gaining said bullion, and for the ad-
&ance which shall have been so made III
coins.
Section 16-And be it further enact
ed That all the gold and silver coins
which shall have been struck at, and
issued from the said mint, shall be
lawful tender in all payments whatso-
ever. those of full weight according to
the respective values hereinbefore de
cdared. and those of less than full
weight at values proportional to their
respective weights.
Sec 20. And be it further enacted,
that the money of account of the Uni
ted States shall be expressed in dol
lars or units. dimes or tent9ls, cents
or hundredths. and mills or thous-
andths. a dime being the tenth part
of dollar, a cent the hundredth part
of dollar. a mill the thousandth part
of a dollar, and that ali accounts in
the public offices. and all proceedings
in the courts OF the United States shall
be kept and had in conformity to this
regulation.