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.1 Half Cents—each to be of the value of half a cent, and to contain five pennyweights and half a pennyweight of copper.

[SEC. 10 specifies the devices to appear upon the coins authorized.]

SEC. II. And be it further enacted, 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 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. SEC. 12. And be it further enacted, That 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,3 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. SEC. 13. And be it further enacted, That the standard of 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.3

SEC. 14.

And be it further enacted, That 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 that 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. 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

Weight changed by Act of January 14, 1793, to 208 grains of copper; and on January 26, 1796, by proclamation of the President under authority of Sec. 8 of Act of March 3, 1795, to 168 grains.

2 For change of coinage ratio, see Act of June 28, 1834, and Act of January 18, 1837, Secs. 8, 9, 10.

3 See Act of January 18, 1837, Sec. 8.

4 The retention of sufficient bullion to cover expenses of refining directed by Act of March 3, 1795, Sec. 5; Act of May 27, 1796; April 24, 1800.

APPENDIX

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 And it shall be the duty of the which shall have been so made in coins. 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 monies 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.

SEC. 15. And be it further enacted, That 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; 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, denoting the weight, fineness and value thereof, together with the day and order of its delivery into the mint.

SEC. 16. And be it further enacted, That all the gold and silver coins which 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 herein before declared, and those of less than full weight at values proportional to their respective weights.

[SECS. 17, 18, and 19 provide for the preservation of accuracy in the fineness and weight of coin.]

SEC. 20. And be it further enacted, That the money of account of the United States shall be expressed in dollars or units, dismes or tenths, cents or hundredths, and milles or thousands, a disme being a tenth part of a dollar, a cent the hundredth part of a dollar, a mille the thousandth part of a dollar, and that all accounts in public offices and all proceedings in the courts of the United States shall be kept and had in conformity to this regulation.

1793.1 - An act regulating foreign coins, making them ACT OF FEBRUARY 9, a legal tender, and establishing their value, etc.

[1. Statutes at Large, p. 300.]

SEC. 1. Be it enacted, etc., That from and after the first day of July next, foreign gold and silver coins shall pass current as money within the United

'The subsequent legislation upon this subject is as follows:

Act of February 1, 1798-Suspends section 2 of above act, and continues for

States, and be a legal tender for the payment of all debts and demands, at the several and respective rates following, and not otherwise, viz: The gold coins of Great Britain and Portugal, of their present standard, at the rate of one hundred cents for every twenty-seven grains of the actual weight thereof; the gold coins of France, Spain and the dominions of Spain, of their present standard, at the rate of one hundred cents for every twenty-seven grains and

three years from January 1, 1798, and and until the end of the next session of Congress thereafter, the legal tender quality of foreign gold and silver coins at the same rates as per section 1 of the act of February 9, 1793.

Act of April 30, 1802 - Further suspends section 2 of the act of February 9, 1793. Foreign coins continued as legal tender for three years.

Act of Abril 10, 1806- Foreign gold and silver coins to be current and a legal tender in the United States for three years at same rates as by act of February 9, 1793.

Act of April 29, 1816- Restores legal tender character of foreign coins for three years, at the following rates: Gold coins of Great Britain and Portugal, 100 cents for every 27 grains, or 88 8-9 cents per pennyweight; gold coins of France, 100 cents for every 271⁄2 grains, or 874 cents per pennyweight; gold coins of Spain, 100 cents for every 281⁄2 grains, or 84 cents per pennyweight; silver crowns of France, 117.6 cents per ounce, or 110 cents for each crown weighing 18 pennyweights 17 grains; 5-franc pieces, 116 cents per ounce, or 93.3 cents for each 5-franc piece weighing 16 pennyweights 2 grains.

Act of March 3, 1819 - Continues in force the legal tender value in the United States of foreign gold coins at the rates of April 29, 1816, until November 1, 1819; "and from and after that day foreign gold coins shall cease to be a tender in the United States for the payment of debts or demands." Part of act of April 29, 1816, relating to silver coins, continued in force until April 29, 1821.

Act of March 3, 1821

tender until April 29, 1823.

-Crown and 5-franc piece of France continued as legal

Act of March 3, 1823 Continues for four years longer the legal tender character of crowns and 5-franc pieces of France.

Act of March 3, 1823 — Gold coins of Great Britain, Portugal, France, and Spain to be received in payment of lands bought from the United States at the rates given in the act of April 29, 1816, but not made legal tender.

Act of June 25, 1834-Certain silver coins to be of the legal value and to pass by tale, the dollars of Mexico, Peru, Chili, and Central America, of not less weight than 415 grains, and restamped dollars of Brazil of like weight, fineness, not less than 10 ounces 15 pennyweights of pure silver in Troy pound of 12 ounces of standard silver, at 100 cents each; the 5-franc piece of France, weighing not less than 384 grains, at 93 cents.

Act of June 28, 1834 — Regulates the legal tender value of certain gold coins, as follows: Great Britain, Portugal, and Brazil, of not less than 22 carats fine, at 94.8 cents per pennyweight; those of France, fine, 93.1 cents per pennyweight, and those of Spain, Mexico, and Columbia, of 20 carats, 3 7-16 grains fine, at 89.9 cents per pennyweight.

Act of March 3, 1843 - Foreign gold coins to pass current "and be receivable, by weight, for the payment of all debts and demands" at the following rates: Those of Great Britain, not less than .9151⁄2 fine, 94.6 cents per pennyweight; those of France, of not less than .899 fine, at 92.9 cents per pennyweight.

Silver coins at the following rates: Spanish pillar dollars and dollars of Mexico, Peru, Bolivia, not less than .897 fine and 415 grains in weight, at 100 cents each; 5-franc pieces of France, not less than .900 fine and 384 grains in weight, at 93 cents each.

Act of February 21, 1857-Spanish and Mexican coins, known as the quarter, eighth, and sixteenth of the Spanish pillar dollar, and Mexican dollar, to be received by the United States, as follows: 4 of a dollar, or 2 reals, at 20 cents; % of a dollar, or I real, at 10 cents; 1-16 of a dollar, or 2 real, at 5 cents. Said coins to be recoined when received. Former acts, making foreign coins a legal tender, repealed; assays of foreign coins to be made by the Director of the Mint and annually reported.

two fifths of a grain, of the actual weight thereof. Spanish milled dollars, at the rate of one hundred cents for each dollar, the actual weight whereof shall not be less than seventeen pennyweights and seven grains; and in proportion for the parts of a dollar. Crowns of France, at the rate of one hundred and ten cents for each crown, the actual weight whereof shall not be less than eighteen pennyweight and seventeen grains, and in proportion for the parts of a crown. But no foreign coin that may have been, or shall be issued subsequent to the first day of January, 1792, shall be a tender, as aforesaid, until samples thereof shall have been found, by assay, at the mint of the United States, to be conformable to the respective standards required, and proclamation thereof shall have been made by the President of the United

States.

SEC. 2. Provided always, and be it further enacted, That 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, as aforesaid.

SEC. 3. And be it further enacted, That all foreign gold and silver coins, (except Spanish milled dollars, and parts of such dollars), which shall be received in payment for monies 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."

[SEC. 4. Provides that from and after July 1, 1793, foreign gold and silver coins shall be received for dues and fees at rates therein established.] [SEC. 5. Fixes the time for making annual assays.]

ACT OF JUNE 28, 1834.—An act concerning gold coins of the United States and for other purposes.

[4 Statutes at Large, p. 699.]

Be it enacted, etc., That the gold coins of the United States shall contain the following quantities of metal, that is to say: each eagle shall contain two hundred and thirty-two grains of pure gold, and two hundred and fifty-eight grains of standard gold; each half eagle one hundred and sixteen grains of pure gold, and one hundred and twenty-nine grains of standard gold; each quarter eagle shall contain fifty-eight grains of pure gold, and sixty-four and a half grains of standard gold; every such eagle shall be of the value of ten dollars; every such half eagle shall be of the value of five dollars; and every such quarter eagle shall be of the value of two dollars and fifty cents; and the said gold coins shall be receivable in all payments, when of full weight, according to their respective values; and when of less than full weight, at less values, proportioned to their respective actual weights.

SEC. 2. And be it further enacted, That all standard gold or silver deposited for coinage after the thirty-first of July next, shall be paid for in coin under the direction of the Secretary of the Treasury, within five days from the making of such deposit, deducting from the amount of said deposit of gold and silver one-half of one per centum: Provided, That no deduction

shall be made unless said advance be required by such depositor within forty days.

SEC. 3. And be it further enacted, That all gold coins of the United States minted anterior to the thirty-first day of July next, shall be receivable in all payments at the rate of ninety-four and eight-tenths of a cent per pennyweight.

[SEC. 4. Directs the setting apart of gold coins for assay and makes provision for securing accuracy in fineness and weight.]

SEC. 5. And be it further enacted, That this act shall be in force from and after the 31st of July, 1834.

ACT OF JANUARY 18, 1837.

An act supplementary to the act entitled "An act establishing a mint and regulating the coins of the United States."

[5 Statutes at Large, p. 136.]

[SECS. 1-7, inclusive, relate to the organization of the mint, duties of officers, bonds, salaries, etc.]

SEC. 8. And be it further enacted, That the standard for both gold and silver coins of the United States shall hereafter be such, that of one thousand parts by weight, nine hundred shall be of pure metal and one hundred of alloy; and the alloy of the silver coins shall be of copper; and the alloy of the gold coins shall be of copper and silver, provided that the silver do not exceed one-half of the whole alloy.

SEC. 9. And be it further enacted, That of the silver coins, the dollar shall be of the weight of four hundred and twelve and one-half grains; the half dollar of the weight of two hundred and six and one-fourth grains; the quarter dollar of the weight of one hundred and three and one-eighth grains; the dime, or tenth part of a dollar, of the weight of forty-one and a quarter grains; and the half dime, or twentieth part of a dollar, of the weight of twenty grains and five-eighths of a grain. And that dollars, half dollars, and quarter dollars, dimes and half dimes, shall be legal tenders of payment, according to their nominal value, for any sums whatever.

SEC. 10. And be it further enacted, That of the gold coins, the weight of the eagle shall be two hundred and fifty-eight grains; that of the half eagle one hundred and twenty-nine grains; and that of the quarter eagle sixty-four and one-half grains. And that for all sums whatever, the eagle shall be a legal tender of payment for ten dollars; the half eagle for five dollars; and the quarter eagle for two and a half dollars.

SEC. II.

And be it further enacted, That the silver coins heretofore issued at the mint of the United States, and the gold coins issued since the 31st day of July 1834, shall continue to be legal tenders of payment for their nominal values, on the same terms as if they were of the coinage provided for by this act.

SEC. 12. And be it further enacted, That of the copper coins, the weight of the cent shall be one hundred and sixty-eight grains, and the weight of the half cent eighty-four grains. And the cent shall be considered of the value of one-hundredth part of a dollar, and the half cent of the value of one twohundredth part of a dollar.

[SEC. 13. Provides for the devices upon coins.]

SEC. 14. And be it further enacted, That gold and silver bullion brought to the mint for coinage, shall be received and coined, by the proper officers, for the benefit of the depositor: Provided, that it shall be lawful to refuse, at