Chapter CXXXI. *revising and amending the Laws relative to the Mints, Assay, offices, and Coinage of the United States*
9,075 words·~41 min read·
/statutes-at-large/vol-17/chapter-cxxxi-1876589·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
CHAP. CXXXI.— An Act *revising and amending the Laws relative to the Mints, Assay, offices, and Coinage of the United States*. Feb. 12, 1873.See § 67, p. 435. *Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled*, Mint established as a bureau, and includes what. That the mint of the United States is hereby established as a bureau of the Treasury Department, embracing in its organization and under its control all mints for the manufacture of coin, and all assay-offices for the stamping of bars, which Director, appointment, and term of office;are now, or which may be hereafter, authorized by law.
The chief officer of the said bureau shall be denominated the director of the mint, and shall be under the general direction of the Secretary of the Treasury, He shall be appointed by the President, by and with the advice and consent of the Senate, and shall hold his office for the term of five years, unless sooner removed by the President, upon reasons to be communicated by him to the Senate. Sec. 2. powers;That the director of the mint shall have the general supervision of all mints and assay-offices, and shall make an annual report to the Secretary of the Treasury of their operations, at the close of each reports;fiscal year, and from time to time such additional reports, setting forth the operations and condition of such institutions, as the Secretary of the annual estimates.Treasury shall require, and shall lay before him the annual estimates for their support And the Secretary of the Treasury shall appoint the Clerks, number and appointment.number of clerks, classified according to law, necessary to discharge the duties of said bureau.
Sec. 3. Officers of each mint, and their appointment.That the officers of each mint shall be a superintendent, an assayer, a melter and refiner, and a coiner, and for the mint at Philadelphia, an engraver, all to be appointed by the President of the United States, by and with the advice and consent of the Senate. Sec. 4. Superintendent of mint, powers;That the superintendent of each mint shall have the control thereof, the superintendence of the officers and persons employed therein, and the supervision of the business thereof, subject to the approval of the reports, their form and contents.director of the mint, to whom he shall make reports at such times and according to such forms as the director of the mint may prescribe, which shall exhibit, in detail, and under appropriate heads, the deposits of bullion, the amount of gold, silver, and minor coinage, and the amount of unparted, standard, and refined bars issued, and such other statistics and Moneys or bullion.information as may be required.
The superintendent of each mint shall also receive and safely keep, until legally withdrawn, all moneys or bullion which shall be for the use or the expenses of the mint. He shall receive all bullion brought to the mint for assay or coinage; shall be the Coin.keeper of all bullion or coin in the mint, except while the same is legally in the hands of other officers; and shall deliver all coins struck at the mint to the persons to whom they shall be legally payable. From the report of the assayer and the weight of the bullion, he shall compute Deposits.the value of each deposit, and also the amount of the charges or deductions, if any, of all which he shall give a detailed memorandum to the depositor; and he shall also give at the same time, under his hand, a Certificate of deposit, to be countersigned by assayer.Transfers of coin, &c.certificate of the net amount of the deposit, to be paid in coins or bars of the same species of bullion as that deposited, the correctness of which certificate shall be verified by the assayer, who shall countersign the same; and in all cases of transfer of coin or bullion, he shall give and receive vouchers, stating the amount and character of such coin or bullion.
Quarterly accounts to director, &c.He shall keep and render, quarter-yearly, to the director of the mint, for the purpose of adjustment, according to such forms as may be prescribed by the Secretary of the Treasury, regular and faithful accounts of his transactions with the other officers of the mint and the depositors; and shall also render to him a monthly statement of the ordinary expenses of Assistants, clerks, &c.the mint or assay-office under his charge. He shall also appoint all assistants, clerks, (one of whom shall be designated “chief clerk,”) and workmen employed under his superintendence; but no person shall be425 appointed to employment in the offices of the assayer, melter arid refiner,clerks, &c. in offices of assayer, &c.Appointments to be reported to director and approved by him. coiner, or engraver, except on the recommendation and nomination in writing of those officers, respectively; and he shall forthwith report to the director of the mint the names of all persons appointed by him, the duties to be performed, the rate of compensation, the appropriation from which compensation is to be made, and the grounds of the appointment; and if the director of the mint shall disapprove the same, the appointment shall be vacated.
Sec. 5. That the assayer shall assay al metals and bullion, wheneverAssayer’s duties. such assays are required in the operations of the mint; he shall also make assays of coins or samples of bullion whenever required by the superintendent. Sec. 6. That the melter and refiner shall execute all the operationsMelter and refiner. which are necessary in order to form ingots of standard silver or gold, and alloys for minor coinage, suitable for the coiner, from the metals legally delivered to him for that purpose; and shall also execute all the operations which are necessary in order to form bars conformable in all respects to the law, from the gold and silver bullion delivered to him for that purpose.
He shall keep a careful record of all transactions with the superintendent, noting the weight and character of the bullion; and shall be responsible for all bullion delivered to him until the same is returned to the superintendent and the proper vouchers obtained. Sec. 7. That the coiner shall execute all the operations which areCoiner. necessary in order to form coins, conformable in all respects to the law, from the standard gold and silver ingots, and alloys for minor coinage, legally delivered to him for that purpose; and shall be responsible for all bullion delivered to him, until the same is returned to the superintendent and the proper vouchers obtained.
Sec. 8. That the engraver shall prepare from the original dies alreadyEngraver. authorized all the working-dies required for use in the coinage of the several mints,: and, when new coins or devices are authorized, shall, if requiredNew coins or devices. by the director of the mint, prepare the devices, models, moulds, and matrices, or original dies, for the same; but the director of the mint shall nevertheless have power, with the approval of the Secretary of the Treasury, to engage temporarily for this purpose the services of one or more artists distinguished in their respective departments of art, who shall be paid for such service from the contingent appropriation for the mint at Philadelphia.
Sec. 9. That whenever any officer of a mint or assay-office shall beIf any officer is absent, &c.; temporarily absent, on account of sickness or any other cause, it shall be lawful for the superintendent, with the consent of said officer, to appoint some person attached to the mint to act in the place of such officer during his absence; but all such appointments shall be forthwith reported to the director of the mint for his approval; and in all cases whatsoever the principal shall be responsible for the acts of his representative.
In casesuperintendent; of the temporary absence of the superintendent, the chief clerk shall act in bis place; and in case of the temporary absence of the director of thedirector. mint, the Secretary of the Treasury may designate some one to act in his place. Sec. 10. That every officer, assistant, and clerk of the mint shall, beforeOath of officers, assistants, clerks, and employees. he enters upon the execution of his office take an oath or affirmation before some judge of the United States, or judge of the superior court, or of some court of record of any State, faithfully and diligently to perform the duties thereof, in addition to other official oaths prescribed by law; which oaths, duly certified, shall be transmitted to the Secretary of the Treasury; and the superintendent of each mint may require such oath or affirmation from any of the employees of the mint.
Sec. 11. That the superintendent, the assayer, the melter and refiner,Bond of super- and the coiner of each mint, before entering upon the execution of their426 intendent and others;respective offices, shall become bound to the United States, with one or more sureties, approved by the Secretary of the Treasury, in the sum of not less than ten nor more than fifty thousand dollars, with condition for the faithful, and diligent performance of the duties of his office. Similar of assistants and clerks;bonds may be required of the assistants and clerks, in such sums as the superintendent shall determine, with the approbation of the director of the mint; but the same shall not be construed to relieve the superintendent or other officers from liability to the United States for acts, omissions, or negligence of their subordinates or employees: *Provided*, That Increase thereof.the Secretary of the Treasury, may, at his discretion, increase the bonds of the superintendent.
Sec. 12. Salary of director;That there shall be allowed to the director of the mint an annual salary of four thousand five hundred dollars, and actual necessary travelling expenses in visiting the different mints and assay-offices, for superintendents, assayers. &c.;which vouchers shall be rendered, to the superintendents of the mints at Philadelphia and San Francisco, each four thousand five hundred dollars; to the assayers, melters and refiners, and coiners of said mints, each three thousand dollars; to the engraver of the mint al.
Philadelphia, three thousand dollars; to the superintendent of the mint at Uarson city, three thousand dollars; and to the assayer, to the melter and refiner, and to the coiner of the mint at Carson city, each, two thousand five hundred assistants, clerks, and workmen;dollars; to the assistants and clerks such annual salary shall be allowed as the director of the mint may determine, with the approbation of the Secretary of the Treasury; and to the workmen shall be allowed such wages, to be determined by the superintendent, as may be customary and reasonable according to their respective stations and occupations, and approved by the director of the mint; and the salaries provided for in payable monthly.this section, and the wages of the workmen permanently engaged, shall be payable in monthly instalments.
Sec. 13. Standard of gold and silver coins.That the standard for both gold and silver coins of the United States shall 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 Alloy.silver coins shall be of copper, and the alloy of the gold coins shall be of copper, or of copper and silver; but the silver shall in no case exceed one-tenth of the whole alloy. Sec. 14. Gold coins;That the gold coins of the United States shall be a one-dollar piece, which, at the standard weight of twenty-five and eight-tenths grains, shall be the unit of value; a quarter-eagle, or two-and-a-half dollar piece; a three-dollar piece; a half-eagle, or five-dollar piece; an eagle, or ten-dollar piece; and a double eagle, or twenty-dollar piece.
And the standard weight;standard weight of the gold dollar shall be twenty-five and eight-tenths grains; of the quarter-eagle, or two-and-a-half dollar piece, sixty-four and a half grams; of the three-dollar piece, seventy-seven and four-tenths grains; of the half-eagle, or five-dollar piece, one hundred and twenty-nine grains; of the eagle, or ten-dollar piece, two hundred and fifty-eight grains; of the double-eagle, or twenty-dollar piece, five hundred and sixteen grains; which coins shall be a legal tender in all payments at their nominal value when not below the standard weight and limit of tolerance provided in this act for the single piece, and, when reduced in to be legal tender;weight, below said standard and tolerance, shall be a legal tender at valuation in proportion to their actual weight; and any gold coin of the United States, if reduced in weight by natural abrasion not more than reduction in weight by natural abrasion;one-half of one per centum below the standard weight prescribed by law, after a circulation of twenty years, as shown by its date of coinage, and at a ratable proportion for any period less than twenty years, shall be where to be received.received at their nominal value by the United States treasury and its offices, under such regulations as the Secretary of the Treasury may prescribe for the protection of the government against fraudulent abrasion or427 other practices; and any gold coins in the treasury of the United States reduced in weight below this limit of abrasion shall be recoined.
Sec. 15. That the silver coins of the United States shall be a trade-dollar,Silver coins a half-dollar, or fifty-cent piece, a quarter-dollar, or twenty-five-cent piece, a dime, or ten-cent piece; and the weight of the trade-dollarweight; shall be four hundred and twenty grains troy; the weight of the half-dollar shall he twelve grams (grammes) and one-half of a gram, (gramme:) the quarter-dollar and the dime shall be respectively, one-half and on-fifth of the weight of said half-dollar; and said coins shall be a legalto be legal tender. tender at their nominal value for any amount not exceeding five dollars in any one payment.
Sec. 16. That the minor coins of the United States shall be a five-centMinor coins, and their alloy; piece, a three-cent piece, and a one-cent piece, and the alloy for the five and three cent pieces shall be of copper and nickel, to be composed of three-fourths copper and one-fourth nickel, and the alloy of the one-cent piece shall be ninety-five per centum of copper and five per centum of tin and zinc, in such proportions as shall be determined by the director of the mint. The weight of the piece of five cents shall be seventy-seven andweight; sixteen-hundredths grains, troy; of the three-cent piece, thirty grains; and of the one-cent piece, forty-eight grains; which coins shall be a legalto be legal tender. tender, at their nominal value, for any amount not exceeding twenty-five cents in any one payment.
Sec. 17. That no coins, either of gold, silver, or minor coinage, shallNo coins, except, &c. hereafter be issued from the mint other than those of the denominations, Standards, and weights herein set forth. Sec. 18. That upon the coins of the United States there shall be theDevices and legends upon coins. following devices and legends: Upon one side there shall be an impression emblematic of liberty, with an inscription of die word “Liberty” and the year of the coinage, and upon the reverse shall be the figure or representation of an eagle, with the inscriptions “United States ofInscriptions.
America” and “E Pluribus Unum,” and a designation of the value of the coin; but on the gold dollar and three-dollar piece, the dime, five, three, and one cent piece the figure of the eagle shall be omitted; and on the reverse of the silver trade-dollar, die weight and fineness of the coin shall be inscribed; and the director of the mint, with the approval of the Secretary of the Treasury, may cause the motto “In God we trust” to be inscribed upon such coins as shall admit of such motto; and any one of the foregoing inscriptions may be on the rim of the gold and silver coins.
Sec. 19. That at the option of the owner, gold or silver may he castBars of gold or silver; into bars of fine metal, or of standard fineness, or imparted, as he may prefer, with a stamp upon the same designating the weight and fineness,stamp and devices; and with such devices impressed thereon as may be deemed expedient to prevent fraudulent imitation, and no such bars shall be issued of a lesslimit to weight weight than five ounces. Sec. 20. That any owner of gold bullion may deposit the same at anyDeposits of gold bullion for coinage; mint, to be formed into coin or bars for his benefit; but it shall be lawful to refuse any deposit of less value than one hundred dollars, or any bullion so base as to be unsuitable for the operations of the mint; and when gold and silver are combined, if either metal be in such small proportion that it cannot be separated advantageously, no allowance shall be made to the depositor for its value.
Sec. 21. That any owner of silver bullion may deposit the same at anyof silver bullion. mint, to be formed into bars, or into dollars of the weight of four hundred and twenty grains, troy, designated in this act as trade-dollars, and no deposit of silver for other coinage shall be received; but silver bullion contained in gold deposits, and separated therefrom, may be paid for in silver coin, at such valuation as may be, from time to time, established by the director of the mint. 428 Sec. 22.
Bullion to be weighed when deposited and receipt given;That when bullion is deposited in any of the mints, it shall be weighed by the superintendent, and, when practicable, in the presence of the depositor, to whom a receipt shall be given, which shall state the description and weight of the bullion; but when the bullion is in such a state as to require melting, or the removal of base metals, before its value can be ascertained, the weight, after such operation, shall be considered as fitness and mode of melting, how determined.the true weight of the bullion deposited.
The fitness of the bullion to be received shall be determined by the assayer, and the mode of melting by the melter and refiner. Sec. 23. Assay of bullion;That from every parcel of bullion deposited for coinage or bars, the superintendent shall deliver to the assayer a sufficient portion for the purpose of being assayed, but all such bullion remaining from the operations of the assay shall be returned to the superintendent by the assayer. Sec. 24. report of assayer.That the assayer shall report to the superintendent the quality or fineness of the bullion assayed by him, and such information as will enable him to compute the amount of the charges hereinafter provided for, to be made to the depositor.
Sec. 25. Charges for converting bullion into coin, and preparation of bars;That the charge for converting standard gold bullion into coin shall be one-fifth of one per centum; and the charges for converting standard silver into trade-dollars, for melting and refining when bullion is below standard, for toughening when metals are contained in it which render it unfit for coinage, for copper used for alloy when the bullion is above standard, for separating the gold and silver when these metals exist together in the bullion, and for the preparation of bars, shall be fixed, from time to time, by the director, with the concurrence of the not to exceed the actual average cost.Secretary of the Treasury, so as to equal but not exceed, in their judgment, the actual average cost to each mint and assay-office of the material, labor, wastage, and use of machinery employed in each of the cases aforementioned.
Sec. 26. Assayer to verify certain calculations and countersign certificate.That the assayer shall verify all calculations made by the superintendent of the value of deposits, and, if satisfied of the correctness thereof, shall countersign the certificate required to be given by the superintendent to the depositor. Sec. 27. Purchase of bullion for silver coinage.That in order to procure bullion for the silver coinage authorized by this act, the superintendents, with the approval of the director of the mint, as to price, terms, and quantity, shall purchase such bullion with the bullion-fund.
The gain arising from the coinage of such Gain to be credited to silver-profit fund, and paid into the treasury.silver bullion into coin of a nominal value exceeding the cost thereof shall be credited to a special fund denominated the silver-profit fund. This fund shall be charged with the wastage incurred, in the silver coinage, and with the expense of distributing said coins as hereinafter provided. The balance to the credit of this fund shall be from time to time, and at least twice a year, paid into the treasury of the United States.
Sec. 28. Silver coins to be paid out where and for what.That silver coins other than the trade-dollar shall be paid out at the several mints, and at the assay-office in New York city, in exchange for gold coins at par, in sums not less than one hundred dollars; and it shall be lawful, also, to transmit parcels of the same, from time to time, to the assistant treasurers, depositaries, and other officers of the United States, under general regulations proposed by the director of the mint, and approved by the Secretary of the Treasury; but nothing herein contained shall prevent the payment of silver coins, at their nominal value, for silver parted from gold, as provided in this act, or for change Proviso.less than one dollar in settlement for gold deposits: *Provided*, That for two years after the passage of this act, silver coins shall be paid at the mint in Philadelphia and the assay-office in New York city for silver bullion purchased for coinage, under such regulations as may be pre-429scribed by the director of the mint, and approved by the Secretary of the Treasury.
Sec. 29. That for the purchase of metal for the minor coinage authorizedPurchase of metal for the minor coinage; by this act, a sum not exceeding fifty thousand dollars in lawful money of the United States shall be transferred by the Secretary of the Treasury to the credit of the superintendent of the mint at Philadelphia, at whichto be carried on only at Philadelphia. establishment only, until otherwise provided by law, such coinage shall be carried on. The superintendent, with the approval of the director of the mint as to price, terms, and quantity, shall purchase the metal required for such coinage by public advertisement, and the lowest and best bid shall be accepted, the fineness of the metals to be determined on the mint assay.
The gain arising from the coinage of such metals into coin of aMinor-coinage profit fund. nominal value, exceeding the cost thereof, shall be credited to the special fund denominated the minor-coinage profit fund; and this fund shall be charged with the wastage incurred in such coinage, and with the cost of distributing said coins as hereinafter provided. The balance remaining toMinor coins, where deliverable, &c.; the credit of this fund, and any balance of profits accrued from minor coinage under former acts, shall be, from time to time, and at least twice a year, covered into the treasury of the United States.
Sec. 30. That the minor coins authorized by this act may, at the discretionexchangeable for what; of the director of the mint, be delivered in any of the principal cities and towns of the United States, at the cost of the mint, for transportation, and shall be exchangeable at par at the mint in Philadelphia, at the discretion of the superintendent, for any other coins of copper, bronze, or copper-nickel heretofore authorized by law; and it shall be lawful for the treasurer and the several assistant treasurers and depositaries of the United States to redeem, in lawful money, under such rulesredeemable in what sums. as may be prescribed by the Secretary of the Treasury, all copper, bronze, and copper-niekel coins authorized by law when presented in sums of not less than twenty dollars; and whenever, under this authority, these coins are presented for redemption in such quantity as to show the amount outstanding to be redundant, the Secretary of the Treasury is authorizedSuch coinage to cease, when. and required to direct that such coinage shall cease until otherwise ordered by him.
Sec. 31. That parcels of bullion shall be, from time to time, transferredMelting and refining. by the superintendent to the melter and refiner; a careful record of these transfers, noting the weight and character of the bullion, shall be kept, and vouchers shall be taken for the delivery of the same, duly receipted by the melter and refiner, and the bullion thus placed in the hands of the melter and refiner shall be subjected to the several processesIngots for coinage; which may be necessary to form it into ingots of the legal standard, and of a quality suitable for coinage.
Sec. 32. That the ingots so prepared shall be assayed; and if theyto be assayed and certificate given; prove to lie within the limits allowed for deviation from the standard, the assayer shall certify the fact to the superintendent, who shall thereupon receipt for the same, and transfer them to the coiner. Sec. 33. That no ingots shall be used for coinage which differ fromnot to be used, if they differ from, more than, &c. the legal standard more than the following proportions, namely:
In gold ingots, one thousandth; in silver ingots, three thousandths; in minor-coinage alloys, twenty-five thousandths, in the proportion of nickel. Sec. 34. That the melter and refiner shall prepare all bars requiredBars for payment of deposits, their fineness, &c. for the payment of deposits; but the fineness thereof shall be ascertained and stamped thereon by the assayer; and the melter and refiner shall deliver such bars to the superintendent, who shall receipt for the same.
Sec. 35. That the superintendent shall, from time to time, deliver toIngots for coinage to be delivered to coiner. the coiner ingots for the purpose of coinage; a careful record of these transfers, noting the weight and character of the bullion, shall be kept, and vouchers shall be taken for the delivery of the same, duly receipted by the coiner; and the ingots thus placed in the hands of the coiner shall430 be subjected to the several processes necessary to make from them coins in all respects conformable to law.
Sec. 36. Deviations in weights of gold coins not to exceed, &c.;That in adjusting the weights of the gold coins, the following deviations shall not be exceeded in any single piece: In the double-eagle and the eagle, one-half of a grain; in the half-eagle, the three-dollar piece, the quarter-eagle, and the one-dollar piece, one-fourth of a grain. And in weighing a number of pieces together, when delivered by the comer to the superintendent, and by the superintendent to the depositor, the deviation from the standard weight shall not exceed one-hundredth of an ounce in five thousand dollars in double-eagles, eagles, half-eagles, or quarter-eagles, in one thousand three-dollar pieces, and in one thousand one-dollar pieces.
Sec. 37. of silver coins;That in adjusting the weight of the silver coins the following deviations shall not be exceeded in any single piece: In the dollar, the half and quarter dollar, and in the dime, one and one-half grains; and in weighing large numbers of pieces together, when delivered by the comer to the superintendent, and by the superintendent to the depositor, the deviations from the standard weight shall not exceed two-hundredths of an ounce in one thousand dollars, half-dollars, or quarter dollars, and one-hundredth of an ounce in one thousand dimes.
Sec. 38. of the minor coins.That in adjusting the weight of the minor coins provided by this act, there shall be no greater deviation allowed than three grains for the five-cent piece and two grains for the three and one cent pieces. Sec. 39. Coiner to deliver coins to the superintendent;That the coiner shall, from time to time, as coins are prepared, deliver them to the superintendent, who shall receipt for the same, and who shall keep a careful record of their kind, number, and actual weight; and in receiving coins it shall be the duty of the superintendent to ascertain, by the trial of a number of single pieces separately, whether the coins to be tested, and if not satisfactory, &c.coins of that delivery are within the legal limits of the standard weight; and if his trials for this purpose shall not prove satisfactory, he shall cause all the coins of such delivery to lie weighed separately, and such as are not of legal weight shall be defaced and delivered to the melter and refiner as standard bullion, to be again formed into ingots and recoined; or the whole delivery may, if more convenient, be remelted.
Sec. 40. Proceedings at each delivery of coins by the coiner to a superintendent.That at every delivery of coms made by the coiner to a superintendent, it shall be the duty of such superintendent, in the presence of the assayer, to take indiscriminately a certain number of pieces of each variety for the annual trial of coins, the number for gold coins being not less than one piece for each one thousand pieces or any fractional part of one thousand pieces delivered; and for silver coins one piece for each two thousand pieces or any fractional part of two thousand pieces delivered.
The pieces so taken shall be carefully sealed up in an envelope, properly labelled, stating the date of the delivery, the number and denomination of the pieces inclosed, and the amount of the delivery from which they were taken. These sealed parcels containing the reserved pieces shall be deposited in a pyx, designated for the purpose at each mint, which shall be kept under the joint care of the superintendent and assayer, and be so secured that neither can have access to its contents without the presence of the other, and the reserved pieces in their sealed envelopes from the coinage of each mint shall be transmitted quarterly to the mint at Philadelphia.
A record shall also be kept at the same time of the number and denomination of the pieces so taken for the annual trial of coins, and of the number and denomination of the pieces represented by them and so delivered, a copy of which record shall be transmitted quarterly to the director of the mint. Other pieces may, at any time, be taken for such tests as the director of the mint shall prescribe. Sec. 41. Clippings, &c., of bullion.That the coiner shall, from time to time, deliver to the superintendent the clippings and other portions of bullion remaining after the431 process of coining; and the superintendent shall receipt for the same and keep a careful record of their weight and character.
Sec. 42. That the superintendent shall debit the coiner with theCoiner to be charged with what, and to be credited. amount in weight of standard metal of all the bullion placed in his hands, and credit him with the amount in weight of all the coins, clippings, and other bullion returned by him to the superintendent. Once at least in every year, and-at such time as the director of the mint shall appoint,Accounts of coiner and melter and refiner to be fully settled at least once in each year. there shall be an accurate and full settlement of the accounts of the coiner, and the melter and refiner, at which time the said officers shall deliver up to the superintendent all the coins, clippings, and other bullion in their possession, respectively, accompanied by statements of all the bullion delivered to them since the last annual settlement, and all the bullion returned by them during the same period, including the amount returned for the purpose of settlement.
Sec. 43. That when all the coins, clippings, and other bullion haveSuperintendent to examine the accounts, &c., of the coiner and melter and refiner.What amount allowable as necessary wastage been delivered to the superintendent, it shall be his duty to examine the accounts and statements rendered by the coiner and the melter and refiner, and the difference between the amount charged and credited to each officer shall be allowed as necessary wastage, if the superintendent shall be satisfied that there has been a bona-fide waste of the precious metals, and if the amount shall not exceed, in the case of the melter and refiner, one thousandth of the whole amount of gold, and one and one-half thousandth of the whole amount of silver delivered to him since the last annual settlement, and in the case of the coiner, one thousandth of the whole amount of silver, and one-half thousandth of the whole amount of gold that has been delivered to him by the superintendent; and all copper used in the alloy of gold and silver bullion shall be separately charged to the melter and refiner, and accounted for by him.
Sec. 44. That it shall also be the duty of the superintendent to forwardBalance-sheet to be forwarded to the director of the mint.Expense account. a correct statement of his balance-sheet, at the close of such settlement, to the director of the mint, who shall compare the total amount of gold and silver bullion and coin on hand with the total liabilities of the mint. At the same time a statement of the ordinary expense account, and the moneys therein, shall also be made by the superintendent.
Sec. 45. That when the coins or bars which are the equivalent to anyPayment of coins or bars to depositors deposit of bullion are ready for delivery, they shall be paid to the depositor, or his order, by the superintendent; and the payments shall be made, if demanded, in the order in which the bullion shall have been brought to the mint; but in cases where there is delay in manipulating a refractory deposit, or for any other unavoidable cause, the payment of subsequent deposits, the value of which is known, shall not be delayed thereby; and in the denominations of coin delivered, the superintendent shall comply with the wishes of the depositor, except when impracticable or inconvenient to do so.
Sec. 46. That unparted bullion may be exchanged at any of the mintsUn parted bullion may be exchanged. for fine bars, on such terms and conditions as may be prescribed by the director of the mint, with the approval of the Secretary of the Treasury; and the fineness, weight, and value of the bullion received and given in exchange shall in all cases be determined by the mint assay. The chargeCharge for parting. to the depositor for refining or parting shall not exceed that allowed and deducted for the same operation in the exchange of unrefined for refined bullion.
Sec. 47. That for the purpose of enabling the mints and the assay-officeSecretary of the Treasury to keep at, &c., money or bullion, to make speedy returns to depositors of bullion. in New York to make returns to depositors with as little delay as possible, it shall be the duty of the Secretary of the Treasury to keep in the said mints and assay-office, when the state of the treasury will admit thereof, such an amount of public money, or bullion procured for the purpose, as he shall judge convenient and necessary, out of which those who bring bullion to the said mints and assay-office may be paid the value432 thereof, in coin or bars, as soon as practicable after the value has been Fund may be withdrawn.ascertained; and on payment thereof being made, the bullion so deposited shall become the property of the United States; but the Secretary of the Treasury may at any time withdraw the fund, or any portion thereof.
Sec. 48. Assay commissioners to test weight of coins annually;That to secure a due conformity in the gold and silver coins to their respective standards of fineness and weight, the judge of the district court of the United States for the eastern district of Pennsylvania, the comptroller of the currency, the assayer of the assay-office at New York, and such other persons as the President shall, from time to time, when and where;designate, shall meet as assay-commissioners, at the mint in Philadelphia, to examine and test, in the presence of the director of the mint, the fineness and weight of the coins reserved by the several mints for this purpose, on the second Wednesday in February, annually, and may continue their meetings by adjournment, if necessary; if a majority of the commissioners if a majority are not present.shall fail to attend at any time appointed for their meeting, the director of the mint shall call a meeting of the commissioners at such other time as he may deem convenient; and if it shall appear by such Test to be reported as satisfactory, if, &c.If test is not satisfactory, fact to be reported, and officers in error to be disqualified.examination and test that these coins do not dilfer from the standard fineness and weight by a greater quantity than is allowed by law, the trial shall be considered and reported as satisfactory; but if any greater deviation from the legal standard or weight shall appear, this fact shall be certified to the President of the United States; and if, on a view of the circumstances of the case, he shall so decide, the officer or officers implicated in the error shall be thenceforward disqualified from holding their respective offices.
Sec. 49. Standard troy pound of the mint of the United States.That for the purpose of securing a due conformity in weight of the coins of the United States to the provisions of this act, the brass troy-pound weight procured by the minister of the United States at London, in the year eighteen hundred and twenty-seven, for the use of the mint, and now in the custody of tire mint at Philadelphia, shall be the standard troy pound of the mint of the United States, conformably to which the coinage thereof shall be regulated.
Sec. 50. Standard Weights for each mint and assay-office;That it shall be the duty of the director of the mint to procure for each mint and assay-office, to be kept safely thereat, a series of standard weights corresponding to the aforesaid troy pound, consisting of a one-pound weight and the requisite subdivisions and multiples thereof, from the hundredth part of a grain to twenty-five pounds; and the troy weights ordinarily employed in the transactions of such mints and assay-offices to be regulated and tested annually.shall be regulated according to the above standards at least once in every year, under the inspection of the superintendent and assayer; and the accuracy of those used at the mint at Philadelphia shall be tested annually, in the presence of the assay-commissioners, at the time of the annual examination and test of coins.
Sec. 51. Obverse working-dies at each mint to be destroyed at, &c.That the obverse working-dies at each mint shall, at the end of each calendar year, be defaced and destroyed by the coiner in the presence of the superintendent and assayer. Sec. 52. Dies of a national character, and medals, where may be made.That dies of a national character may be executed by the engraver, and national and other medals struck by the coiner of the mint at Philadelphia, under such regulations as the superintendent, with the Proviso.approval of the director of the mint, may prescribe: *Provided*, That such work shall not interfere with the regular coinage operations, and that no private medal dies shall be prepared at said mint, or the machinery or apparatus thereof be used for that purpose.
Sec. 53. Moneys from charges and deductions, &c., to be covered into the treasury:That the moneys arising from all charges and deductions on and from gold and silver bullion and the manufacture of medals, and from all other sources, except as hereinbefore provided, shall, from time to time, be covered into the treasury of the United States, and no part of no part for salaries, &c.such deductions or medal charges, or profit on silver or minor coinage, shall be expended in salaries or wages; but all expenditures of the mints433 and assay-offices, not herein otherwise provided for, shall be paid fromExpenditures to be paid from appropriations made, &c. appropriations made by law on estimates furnished by the Secretary of the Treasury.
Sec. 54. That the officers of the United States assay-office at NewOfficers of assay-office at New York, and their appointment.Business of the assay-office. York shall be a superintendent, an assayer, and a melter and refiner, who shall be appointed by the President, by and with the advice and consent of the Senate. The business of said assay-office shall be in all respects similar to that of tire mints, except that bars only, and not coin, shall be manufactured therein; and no metals shall be purchased for minor coinage.
All bullion intended by the depositor to be converted into coins ofBullion. the United States, and silver bullion purchased for coinage, when assayed, parted, and refined, and its net value certified, shall be transferred to the mint at Philadelphia, under such directions as shall be made by the Secretary of the Treasury, at the expense of the contingent fund of the mint, and shall be there coined, and the proceeds returned to the assay-office. And the Secretary of the Treasury is hereby authorized to make theAdjustment of accounts. necessary arrangements for the adjustment of the accounts upon such transfers between the respective offices.
Sec. 55. That the duties of the superintendent, assayer, and melter andDuties, &c., of superintendent, &c.; of each assay-office; refiner of said office shall correspond to those of superintendents, assayers, and melters and refiners of mints; and all parts of this act relating to mints and their officers, the duties and responsibilities of such officers, and others employed therein, the oath to be taken, and the bonds and sureties to be given by them, (as far as the same may be applicable.) shall extend to the assay-office at New York, and to its officers, assistants, clerks, workmen. and others employed therein.
Sec. 56. That there shall be allowed to the officers of the assay-officetheir salaries. at New York city the following salaries per annum: To the superintendent, four thousand five hundred dollars; to the assayer, and to the melter and refiner, each, three thousand dollars; and the salaries of assistants and clerks, and wages to workmen, and their manner of appointment, shall be determined and regulated as herein directed in regard to mints. Sec. 57. That the business of the branch-mint at Denver, while conductedBusiness of assay-offices at Denver, Boise city and elsewhere, to be limited to what. as an assay-office, and of the assay-office at Boise city, Idaho, and all other assay-offices hereafter to be established, shall be confined to the receipt of gold and silver bullion, for melting and assaying, to be returned to depositors of the same, in bars, with the weight and fineness stamped thereon; and the officers of assay-offices, when their services are necessary, shall consist of an assayer, who shall have charge thereof, and a melter, to be appointed by the President, by and with the advice and consent of the Senate; and the assayer may employ as many clerks,Officers of such assay-offices and their salaries; workmen, and laborers, under the direction of the director of the mint, as may he provided for by law.
The salaries of said officers shall not exceed the sum of two thousand five hundred dollars to the assayer and melter, one thousand eight hundred dollars each to the clerks, and the workmen and laborers shall receive such wages as are customary, according to their respective stations and occupations. Sec. 58. That each officer and clerk to be appointed at such assay-offices,their oath and bond.1862, ch. 128, Vol. xii. p. 502. before entering upon the execution of his office, shall take an oath or affirmation before some judge of the United States, or of the supreme court, as prescribed by the act of July second, eighteen hundred and sixty-two, and each become bound to the United States of America, with one or more sureties, to the satisfaction of the director of the mint or of one of the judges of the supreme court of the State or Territory in which the same may be located, and of the Secretary of the Treasury, conditioned for the faithful performance of the duties of their offices; and the saidAssayers to be disbursing agents. assayers shall discharge the duties of disbursing agents for the payment of the expenses of their respective assay-offices. 434 Sec. 59.
Director of mint to have the general direction of the assay-offices, subject, &c.;Regulations, returns, and charges.That the general direction of the business of assay-offices of the United States shall be under the control and regulation of the director of the mint, subject to the approbation of the Secretary of the Treasury; and for that purpose it shall be the duty of the said director to prescribe such regulations and to require such returns, periodically and occasionally, and to establish such charges for melting, parting, assaying, and stamping bullion as shall appear to him to be necessary for the purpose of carrying into effect the intention of this act Sec. 60.
Provisions relating to the mint to apply to assay-offices.That all the provisions of this act for the regulation of the mints of the United States, and for the government of the officers and persons employed therein, and for the punishment of all offences connected with the mints or coinage of the United States, shall be, and they are hereby declared to be, in full force in relation to the assay-offices, as far as the same may lie applicable thereto. Sec. 61. Penalty for counterfeiting, &c., any coin or bars, in the similitude, &c.;That if any person or persons shall falsely make, forge, or counterfeit, or cause or procure to be falsely made, forged, or counter-feited, or willingly aid or assist in falsely making, forging, or counterfeiting, any coin or bars in resemblance or similitude of the gold or silver coins or bars, which have been, or hereafter may be, coined or stamped at the mints and assay-offices of the United States, or in resemblance or similitude of any foreign gold or silver coin which by law is, or hereafter may be made, current in the United States, or are in actual use and circulation as money within the United States, or shall pass, utter, publish, or or knowingly having in possession or uttering, &c., such counterfeited, coin or bars;sell, or attempt to pass, utter, publish, or sell, or bring into the United States from any foreign place, or have in his possession, any such taise, forged, or counterfeited coin or bars, knowing the same to be false, forged, or counterfeited, every person so offending shall he deemed guilty of felony, and shall, on conviction thereof, be punished by fine not exceeding five thousand dollars, and by imprisonment and confinement at hard labor not exceeding ten years, according to the aggravation of the offense.
Sec. 62. for counterfeiting, &c.; minor coinage, or uttering such false coin;That if any person or persons shall falsely make, forge, or counterfeit, or cause or procure to be falsely made, forged, or counter-feited, or willingly aid or assist in falsely making, forging, or counterfeiting, any coin in the resemblance or similitude of any of the minor coinage which has been, or hereafter may be, coined at the mints of the United States; or shall pass, utter, publish, or sell, or bring into the United States from any foreign place, or have in his possession any such false, forged, or counterfeited coin, with intent to defraud any body politic or corporation, or any person or persons whatsoever, every person so offending shall be deemed guilty of felony, and shall, on conviction thereof, be punished by fine not exceeding one thousand dollars and by imprisonment and confinement at hard labor not exceeding three years.
Sec. 63. for fraudulently impairing, &c., gold or silver current coins;That if any person shall fraudulently, by any art, way, or means whatsoever, deface, mutilate, impair, diminish, falsify, scale, or lighten the gold or silver coins which have been, or which shall hereafter be, coined at the mints of the United States, or any foreign gold or silver coins which are by law made current, or are in actual use and circulation as money within the United States, every person so offending shall be deemed guilty of a high misdemeanor, and shall Ire imprisoned not exceeding two years, and fined not exceeding two thousand dollars.
Sec. 64. for fraudulently debasing the gold or silver coins of the United States;That if any of the gold or silver coins which shall be struck or coined at any of the mints of the United States 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 several acts relative thereto; or if any of the weights used, or defacing weights, &c.at any of the mints or assay-offices of the United States shall be defaced, increased, or diminished through the fault or connivance of any of the officers or persons who shall be employed at the said mints or assay offices, with a fraudulent intent; and if any of the said officers or persons435 shall embezzle any of the metals which shall at any time be committed toPenalty for embezzling metals or coins; or medals, &c. their charge for the purpose of being coined, or any of the coins which shall be struck or coined at the said mints, or any medals, coins, or other moneys of said mints or assay-offices at any time committed to their charge, or of which they may have assumed the charge, every such officer or person who shall commit any or either of the said offenses shall be deemed guilty of felony, and shall be imprisoned at hard labor for a term Hot less than one year nor more than ten years, and shall be fined in a sum not exceeding ten thousand dollars.
Sec. 65. That this act shall take effect on the first day of April, eighteenWhen act to take effect.Office of treasurer at, &c., vacated. hundred and seventy-three, when the offices of the treasurer of the mints in Philadelphia, San Francisco, and New Orleans shall be vacated, and the assistant treasurer at New York shall cease to perform the duties of treasurer of the assay-office. The other officers and employees of theOther officers, &c., to continue give bonds, &c. mints and assay-offices now appointed shall continue to hold their respective offices, they having first given the necessary bonds, until further appointments may be required, the director of the mint at Philadelphia being styled and acting as superintendent thereof.
The duties of theSuperintendents to act as treasurers.Treasurers to act only as assistant treasurers. treasurers shall devolve as herein provided upon the superintendents, and said treasurers shall act only as assistant treasurers of the United States: *Provided*, That the salaries heretofore paid to the treasurers of the mints at Philadelphia, San Francisco, and New Orleans, acting as assistant treasurers, shall hereafter be paid to them as “assistant treasurers of the United States,” and that the salary of the assistant treasurer at New York shallSalaries not diminished. not be diminished by the vacation of his office as treasurer of the assay-office.
Sec. 66. That the different mints and assay-offices authorized by thisNames of the different mints and assay-offices. act shall be known as “the mint of the United States at Philadelphia,” “the mint of the United States at San Francisco,” “the mint of the United States at Carson,” “the mint of the United States at Denver,” “the United States assay-office at New York,” and “the United States assay-office at Boise city, Idaho,” “the United States assay-office at Charlotte, North Carolina;” and all unexpended appropriations heretoforeUnexpended appropriations. authorized by law for the use of the mint of the United States at Philadelphia, the branch-mint of the United States in California, the branch-mint of the United States at Denver, the United States assay-office in New York, the United States assay-office at Charlotte, North Carolina, and the United States assay-office at Boise city, Idaho, are hereby authorized to be transferred for the account and use of the institutions established and located respectively at the places designated by this act.
Sec. 67. That this act shall be known as the “Coinage act of eighteenThis act to be known as coinage act, &c. hundred and seventy-three;” and all other acts and parts of acts pertaining to the mints, assay-offices, and coinage of the United States in-consistent with the provisions of this act are hereby repealed: *Provided*,Other acts, &c., repealed; such repeal not to affect, &c. That this act shall not be construed to affect any act done, right accrued, or penalty incurred, under former acts, but every such right is hereby saved; and all suits and prosecutions for acts already done in violation of any former act or acts of Congress relating to the subjects embraced in this act may be begun or proceeded with in like manner as if this act had not been passed; and all penal clauses and provisions in existing laws relating to the subjects embraced in this act shall be deemed applicable thereto: *And provided further*, That so much of theRepeal of part of 1870, ch. 296, §1.
Vol. xvi. p. 296 first section of “An act making appropriations for sundry civil expenses of the government for the year ending June thirty, eighteen hundred and seventy-one, and for other purposes,” approved July fifteen, eighteen hundred and seventy, as provides that until after the completion and occupation of the branch-mint building in San Francisco, it shall be lawful to exchange, at any mint or branch-mint of the United States, unre-436FORTY-SECOND CONGRESS. Sess. III.
Ch. 132, 133, 135. 1873.fined or imparted bullion, whenever, in the opinion of the Secretary of the Treasury, it can be done with advantage to the government, is hereby repealed. Approved, February 12, 1873.