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(ACT of April 2d, 1792.)

parts of a grain of pure, or one hundred and four grains of standard, silver. Dismes: each to be of the value of one-tenth of a dollar, or unit, and to contain thirty-seven grains and two-sixteenth parts of a grain of pure, or forty-one grains and three-fifth parts of a grain of standard, silver. Half dismes: each to be of the value of one-twentieth of a dollar, and to contain eighteen grains and nine-sixteenth parts of a grain of pure, or twenty grains and four-fifth parts of a grain of standard, silver. Cents; each to be of the value of the one hundredth part of a dollar, and to contain eleven pennyweights of copper. Half cents: each to be of the value of half a cent, and to contain five pennyweights and half a penny weight of copper. [Aitered as to cents and half cents, infra 23.] 10. SEC. x. Upon the said coins, respectively, there shall be the following devices and legends, namely: Upon one side of each of the said coins there shall be an impression emblematic of liberty, with an inscription of the word Liberty, and the year of the coinage: and, upon the reverse of each of the gold and silver coins, there shall be the figure or representation of an eagle, with this inscription, "United States of America:" and, upon the reverse of each of the copper coins, there shall be an inscription which shall express the denomination of the piece, namely, cent or half cent, as the case may require.

11. SEC. XI. 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 fifteen to one, according to quantity in weight, of pure gold or pure silver; that is to say, every fifteen pounds weight of pure silver shall be of equal value, in all payments, with one pound weight of pure gold; and so in proportion, as to any greater or less quantities of the respective metals.

12. SEC. XII. The standard for all gold coins of the United States, shall be eleven parts fine to one part alloy; and, accordingly, 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 of alloy; and the said alloy shall be composed of silver and copper, in such proportions, 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 approbation of the president of the United States, until further provision shall be made by law. And to the end that the necessary information may be had in order to the making of such further provision, it shall be the duty of the director of the mint, at the expiration of a year after commencing the operations of the said mint, to report to congress the practice thereof during the said year, touching the composition of the alloy of the said gold coins, the reasons for such practice, and the experiments and observations which shall have been made concerning the effects of different proportions of silver and copper in the said alloy.

(ACT of April 2d, 1792.)

13. SEC. XIII. The standard for all silver coins of the United States, shall be one thousand four hundred and eighty-five parts fine to one hundred and seventy-nine parts alloy; and, accordingly, that one thousand four hundred and eighty-five parts in one thousand six hundred and sixty-four parts, of the entire weight of each of the said coins, shall consist of pure silver, and the remaining one hundred and seventy-nine parts of alloy; which alloy shall be wholly of copper.

14. SEC. XIV. It shall be lawful for any person or persons to bring to the said mint gold and silver bullion, in order to their being coined; and the bullion so brought shall be there assayed and coined, as speedily as may be after the receipt thereof, and that free of expense to the person or persons by whom the same shall have been brought. [See infra, 33 and 38.] 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 director of the 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, contained in the said bullion, as an indemnification to the mint for the time which will necessarily be required for coining the said bullion, and for the advance which shall have been so made in coins. And it shall be the duty of the secretary of the treasury to furnish the said mint, from time to time, whenever the state of the treasury will admit thereof, with such sums as may be necessary for effecting the said exchanges, to be replaced as speedily as may be, out of the coins which shall have been made of the bullion for which the moneys so furnished shall have been exchanged; and the said deduction of one-half per cent shall constitute a fund towards defraying the expenses of the said mint.

15. SEC. xv. The bullion which shall be brought as aforesaid to the mint to be coined, shall be coined, and the equivalent thereof in coins rendered, if demanded, in the order in which the said bullion shall have been brought or delivered, giving priority according to priority of delivery only, and without preference to any person or persons; [See infra, 35.] and if any preference shall be given contrary to the direction aforesaid, the officer, by whom such undue preference shall be given, shall, in each case, forfeit and pay one thousand dollars; to be recovered with costs of suit. And to the end that it may be known if such preference shall at any time be given, the assayer, or officer to whom the said bullion shall be delivered to be coined, shall give, to the person or persons bringing the same, a memorandum in writing, under his hand,

(ACT of Aprl 2d, 1792.)

denoting the weight, fineness, and value, thereof, together with the day and order of its delivery into the mint.

16. Sec. XVI. All the gold and silver coins which shall have been struck at, and issued from, the said mint, shall be a lawful tender in all payments whatsoever; those of full weight according to the respective values hereinbefore declared, and those of less than full weight at values proportional to their respective weights. [Infra 25.]

17. SEC. XVII. It shall be the duty of the respective officers of the said mint, carefully and faithfully to use their best endeav ours, that all the gold and siver coins which shall be struck at the said mint shall be, as nearly as may be, conformable to the several standards and weights aforesaid, and that the copper whereof the cents and half cents aforesaid may be composed, shall be of good quality.

18. SEC. XVIII. And, the better to secure a due conformity of the said gold and silver coins to their respective standards, Be it further enacted, That, from every separate mass of standard gold or silver, which shall be made into coins at the said mint, there shall be taken, set apart by the treasurer, and reserved in his custody, a certain number of pieces, not less than three, and that, once in every year, the pieces so set apart and reserved, shall be assayed under the inspection of the chief justice of the United States, the secretary and comptroller of the treasury, the secretary for the department of state, and the attorney general of the United States, (who are hereby required to attend, for that purpose, at the said mint, on the last Monday in July in each year) or under the inspection of any three of them, in such manner as they, or a majority of them, shall direct, and in the presence of the director, assayer, and chief coiner, of the said mint, and if it shall be found that the gold and silver so assayed, shall not be inferior to their respective standards, hereinbefore declared, more than one part in one hundred and forty-four parts, the officer or officers of the said mint, whom it may concern, shall be held excusable; but if any greater inferiority shall appear, it shall be certified to the president of the United States, and the said officer or officers shall be deemed disqualified to hold their respective of fices. [Altered, see infra 40, 46, and 26.]

19. SEC. XIX. If any of the gold or silver coins which shall be struck or coined at the said mint, shall be debased, or made worse, as to the proportion of fine gold or fine silver therein contained, or shall be of less weight or value than the same ought to be, pursuant to the directions of this act, through the default or with the connivance of any of the officers or persons who shall be employ ed at the said mint, for the purpose of profit or gain, or otherwise, with a fraudulent intent, and if any of the said officers or persons shall embezzle any of the metals which shall at any time be committed to their charge for the purpose of being coined, or any of

(ACT of January 14th, 1793).

the coins which shall be struck or coined at the said mint, every such officer or person who shall commit any or either of the said offences, shall be deemed guilty of felony, and shall suffer death.

20. SEC. xx. The money of account of the United States shall be expressed in dollars, or units, dismes, or tenths; cents, or hundredths; and milles, or thousandths; a disme being the tenth part of a dollar, a cent the hundredth part of a dollar, a mille the thousandth part of a dollar; and all 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.

ACT of May 8th, 1792. 2 Bioren, 308. 2 Oswald, 120.

An act to provide for a copper coinage.

21. SEC. I. That the director of the mint with the approbation of the president of the United States be authorized, to contract for, and purchase a quantity of copper not exceeding one hundred and fifty tons; and that the said director, as soon as the needful preparations shall be made, cause the copper by him purchased to be coined, at the mint, into cents and half cents, pursuant to the " act establishing a mint and regulating the coins of the United States," and that the said cents and half cents, as they shall be coined, be paid into the treasury of the United States, thence to issue into circulation.

22. SEC. II. After the expiration of six calendar months from the time when there shall have been paid into the treasury by the said director, in cents and half cents, a sum not less than fifty thousand dollars, which time shall forthwith be announced by the treasurer, in at least two gazettes, or newspapers, published at the seat of government of the United States for the time being, no copper coins or pieces whatsoever, except the said cents and half cents, shall pass current as money, or shall be paid or offered to be paid, or received in payment for any debt, demand, claim, matter or thing whatsoever; and all copper coins or pieces, except the said cents and half cents which shall be paid, or offered to be paid, or received in payment, contrary to the prohibition aforesaid, shall be forfeited, and every person by whom any of them shall have been so paid, or offered to be paid, or received in payment, shall also forfeit the sum of ten dollars, and the said forfeiture and penalty shall and may be recovered, with costs of suit, for the benefit of any person or persons by whom information of the incurring thereof shall have been given.

ACT of January 14th, 1793. 2 Bioren, 327. 2 Oswald, 150.

23. SEC. 1. Every cent shall contain two hundred and eight grains of copper; and every half cent, shall contain one hundred and four grains of copper; and so much of the act, entitled “An act establishing a mint, and regulating the coins of the United

(ACT of March 3d, 1794.)

States," as respects the weight of cents, and half cents, is hereby repealed.

ACT of February 9th, 1793. 2 Bioren, 328. 2 Oswald, 152.

An act regulating foreign coins, and for other purposes.

24. SEC. II. At the expiration of three years next ensuing the time when the coinage of gold and silver, agreeably to the act, entitled "An act establishing a mint, and regulating the coins of the United States," shall commence at the mint of the United States, (which time shall be announced by the proclamation of the president of the United States,) all foreign gold coins, and all foreign silver coins, except Spanish milled dollars and parts of such dollars, shall cease to be a legal tender.

25. SEC. 11. All foreign gold and silver coins, (except Spanish milled dollars, and parts of such dollars) which shall be received in payment for moneys due to the United States, after the said time when the coining of gold and silver coins shall begin at the mint of the United States, shall, previously to their being issued in circulation, be coined anew, in conformity to the act, entitled “An act establishing a mint, and regulating the coins of the United States."

26. Sc. v. The assay, provided to be made by the act, entitled "An act establishing a mint, and regulating the coins of the United States," shall commence, in the manner as by the said act is prescribed, on the second Monday of February, annually, any thing in the said act to the contrary notwithstanding. [Supra, 18.]

ACT of March 3d, 1794. 2 Bioren, 375.

An act in alteration of the act establishing a mint, and regulating the coins of the United States.

27. SEC. 1. From and after the passing of this act, it shall be the duty of the treasurer of the mint to receive, and give receipts for, all metals which may lawfully be brought to the mint to be coined; and for the purpose of ascertaining their respective qualities, shall deliver, from every parcel so received, a sufficient number of grains to the assayer, who shall assay all such of them as may require it. And the said treasurer shall, from time to time, deliver the said metals to the chief coiner, to be coined in such quantities as the director of the mint may prescribe.

28. SEC. 11. The assayer and chief coiner of the mint, previous to entering upon the execution of their respective offices, shall, each, become bound to the United States of America, with one or more sureties, to the satisfaction of the secretary of the treasury, the said assayer in the sum of one thousand dollars, and the said chief coiner in the sum of five thousand dollars, with con

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