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treasurer a yearly falary of one thousand twe hundred dollars, to each clerk who may be employed, a yearly falary not exceeding five hundred dollars, and to the feveral fubordinate workmen and fervants, fuch wages and allowances as are customary and reasonable, according to their respective stations and occupations.

where to be

Sec. 7. And be it further enacted, That the Accounts accounts of the officers and perfons employed how and in and about the faid mint and for fervices per- fettled. formed in relation thereto, and all other accounts concerning the bufinefs and adminiftration thereof, shall be adjusted and settled in the treasury department of the United States, and a quarter yearly account of the receipts and disbursements of the faid mint fhall be rendered at the said treasury for settlement, according to fuch forms and regulations as fhall have been prescribed by that department; and that once in each year a report of the tranfactions of the faid mint, accompanied by an abstract of the fettlements which fhall have been from time to time made, duly certified by the Comptroller of the Treafury, fhall be laid before, Congrefs for their information.

caufe build

Sec. 8. And be it further enacted, That in Prefident addition to the authority vefted in the Prefi- of U. S. to dent of the United States by a refolution of ings to be the last feffion, touching the engaging of ar- provided. tifts and the procuring of apparatus for the faid mint, the President be authorized, and he is hereby authorized to cause to be provided and put in proper condition fuch buildings, and in fuch manner as fhall appear to him requifite for the purpose of carrying on the bufinefs of the faid mint; and that as well the expenfes which fhall have been incurred purfuant to the faid refolution as thofe which may

expence how to be defrayed.

Species of

be ftruck.

be incurred in providing and preparing the faid buildings, and all other expenses which may hereafter accrue for the maintenance and fupport of the faid mint, and in carrying on the bufinefs thereof, over and above the fums which may be received by reason of the rate per centum for coinage herein after mentioned, fhall be defrayed from the Treafury of the United States, out of any monies which from time to time fhall be therein, not otherwise appropriated.

Sec. 9. And be it further enacted, That there the coins to fhall be from time to time ftruck and coined at the faid mint, coins of gold, filver and copper, of the following denominations, values and defcriptions, viz. EAGLES: each to be of the value of ten dollars or units, and to contain two hundred and forty feven grains and four eighths of a grain of pure, or two hundred and feventy grains of ftandard gold. HALF EAGLES: each to be of the value of five dollars, and to contain one hundred and twenty three grains and fix eighths of a grain of pure, or one hundred and thirty five grains of standard gold. QUARTER EAGLES: each to be of the value of two dollars and a half dollar, and to contain fixty one grains and seven eighths of a grain of pure, or fixty feven grains and four eighths of a grain of standard gold. DOLLARS or UNITS: each to be of the value of a Spanish milled dollar as the fame is now current, and to contain three hundred and seventy one grains and four fixteenth parts of a grain of pure, or four hundred and fixteen grains of ftandard filver. HALF DOLLARS: each to be of half the value of the dollar or unit, and to contain one hundred and eighty five grains and ten fixteenth parts of a grain

of pure, or two hundred and eight grains of ftandard filver. QUARTER DOLLARS: each to be of one fourth the value of the dollar or unit, and to contain ninety two grains and thirteen fixteenth parts of a grain of pure, or one hundred and four grains of ftandard filver. DISMES: each to be of the value of one tenth of a dollar or unit, and to contain thirty feven grains and two fixteenth parts of a grain of pure, or forty one grains and three fifth parts of a grain of standard filver. HALF DISMES: each to be of the value of one twentieth of a dollar, and to contain eighteen grains and nine fixteenth parts of a grain of pure, or twenty grains and four fifth parts of a grain of ftandard filver. CENTS: each to be of the value of the one hundredth part of a dollar, and to contain eleven penny-weights of copper. HALF CENTS each to be of the value of half a cent, and to contain five penny weights and half a penny weight of copper.

Sec. 10. And be it further enacted, That up- of what on the faid coins refpectively there shall be the devices. following devices and legends namely: Upon one fide of each of the faid coins there fhall be an impreffion emblematic of liberty, with an infcription of the word Liberty, and the year of the coinage; and upon the reverse of each of the gold and filver coins there fhall be the figure or reprefentation of an eagle, with this infcription, "UNITED STATES OF AMERICA,' and upon the reverfe of each of the copper coins, there fhall be an infcription which fhall exprefs the denomination of the piece, namely, cent or half cent, as the cafe may require. Sec. 11. And be it further enacted, That the proportional value of gold to filver in all coins which fhall by law be current as money within VOL. II. F

Proportional value

of gold to

filver,

Standard coins and alloy how

for gold

to be regu

lated.

the United States, fhall be as fifteen to one, according to quantity in weight, of pure gold or pure filver; that is to fay, every fifteen pounds weight of pure filver fhall be of equal value in all payments, with one pound weight of pure gold, and fo in proportion as to any greater or lefs quantities of the refpective metals.

Sec. 12. And be it further enacted, That the ftandard for all gold coins of the United States, fhall be eleven parts fine to one part alloy; and accordingly that eleven parts in twelve of the entire weight of each of the faid coins fhall confift of pure gold, and the remaining one twelfth part of alloy; and the faid alloy fhall be compofed of filver and copper, in fuch proportions not exceeding one half filver as fhall be found convenient; to be regulated by the Director of the mint, for the time being, with the approbation of the Prefident of the United States, until further provifion fhall be made by law. And to the end that the necessary information may be had in order to the making of fuch further provifion, it fhall be the duty Director's of the Director of the mint, at the expiration of a year after commencing the operations of the faid mint, to report to Congrefs the practice thereof during the faid year, touching the compofition of the alloy of the faid gold coins, the reafons for fuch practice, and the experiments and obfervations which fhall have been made. concerning the effects of different proportions of filver and copper in the faid alloy.

duty.

Standard for filver

coins; al

loy how to be regula ted.

Sec. 13. And be it further enacted, That the ftandard for all filver coins of the United States, fhall be one thoufand four hundred and eighty five parts fine to one hundred and feventy nine

parts alloy; and accordingly that one thoufand four hundred and eighty five parts in one thousand fix hundred and fixty four parts of the entire weight of each of the faid coins fhall confift of pure filver, and the remaining one hundred and feventy nine parts of alloy; which alloy fhall be wholly of copper.

gold and

coined free

Sec. 14. And be it further enacted, That it Perfons fhall be lawful for any perfon or perfons to may bring bring to the faid mint gold and filver bullion, filver bulin order to their being coined; and that the lion, to be bullion fo brought fhall be there affayed and of expence coined as speedily as may be after the receipt thereof, and that free of expence to the perfon or perfons by whom the fame fhall have been brought. And as foon as the faid bullion fhall have been coined, the perfon or perfons by whom the fame fhall have been delivered, fhall upon demand receive in lieu thereof coins of the fame fpecies of bullion which fhall havebeen fo delivered, weight for weight, of the pure gold or pure filver therein contained: Provided nevertheless, That it fhall be at the mutual option of the party or parties bringing fuch bullion, and of the director of the faid how the dimint, to make an immediate exchange of coins rector may for ftandard bullion, with a deduction of one coins thereexchange half per cent from the weight of the pure gold, for, deducor pure filver contained in the faid bullion, as ting half an indemnification to the mint for the time. which will neceffarily be required for coining the faid bullion, and for the advance which fhall have been fo made in coins. And it fhall be the duty of the Secretary of the Treafury duty of Se to furnish the faid mint from time to time when cretary of treasury ever the ftate of the treasury will admit thereof, herein. with fuch fums as may be neceffary for effecting the faid exchanges, to be replaced as fpee

per cent.

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