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treasurer a yearly salary of one thousand tw« hundred dollars, to each clerk who may be employed, a yearly salary not exceeding five hundred dollars, and to the several subordinate workmen and servants, such wages and allowances as are customary and reasonable, according to their respective stations and occupations.
Sec. 7. And be it further enacled, That the Accounts accounts ot the officers and persons employed JT' *tofes in and about the said mint and for services per- fettled, formed in relation thereto, and all other accounts concerning the business and administration 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 said mint shall be rendered at the said treasury for settlement, according to such forms and regulations as shall have been prescribed by that department; and that once in each year a report of the transactions ©f the said mint, accompanied by an abstract of the settlements which shall have been from time to time made, duly certified by the Comptroller of the Treasury, shall be laid before Congress for their information.
Sec. 8. And be it further enacled, That in resident addition to the authority vested in the Presi- "[3^^ dent of the United States by a resolution of ings to be the last session, touching the engaging of ar- provided" tists and the procuring of apparatus for the said mint, the President be authorized, and he is hereby authorized to cause to be provided and put in proper condition such buildings, and in such manner as shall appear to him requisite for the purpose of carrying on the business of the said mint; and that as well the expenses which shall have been incurred pursuant t© the said resolution as those which may
be incurred in providing (and preparing the said buildings, and all other expenses which may hereafter accrue for the maintenance and support of the said mint, and in carrying on the business thereof, over and above the sums which may be received by reason of the rate per centum for coinage herein aster mentioned, shall be defrayed from the Treasury of the npence United States, out of any monies which from defrayed.6 tnne t0 ^13^ ^Q therein, not otherwise appropriated.
Species of Sec. 9. And be it further enacled, That there ^struck.'0 from time to time struck and coined
at the said mint, coins of gold, silver and copper, of the following denominations, values and descriptions, viz. Eagles: each to be of the value of ten dollars or units, and to contain two hundred and forty seven grains and four eighths of a grain of pure, or two hundred and seventy grains of standard gold. Half Eagles: each to be of the value of five dollars, and to contain one hundred and twenty three grains and six 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 sixty one grains and seven eighths of a grain of pure, or sixty seven 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 same is now current, and to contain three hundred and seventy one grains and four sixteenth parts of a grain of pure, er four hundred and sixteen grains of standard silver. 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 sixteenth parts of a grain oF pure, or two hundred and eight grains of standard silver. Quarter Dollars: each to be of one fourth the value of the dollar or unit, and to contain ninety two grains and thirteen sixteenth 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 yalue 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 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. ic. And be it further emcled, That up- of what on the said coins respectively there shall be the device, 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 (hall 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 cafe may require.
Sec. Ii. And belt further enacled, That the Proporproportional value of gold to silver in all coins '^"tlaf*^ which shall bv law be current as money within stives
Vol. II. F
Standard for gold coin* and alloy how to be regulated.
Standard for silver coins; alloy .how to be regular 'led.
•the United States, ihail 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. ti.- And be it further enacled, That the standard for all gold coins of the United State*, shall be eleven parts fine to one part alloy'- j 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 sakl alloy shall be composed of silver and copper, in such proportions not exceeding one half silver as (hoi I 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 geld 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 laid alloy.
Sec. 13. And be it further cnaclcd, That the standard for all silver coins of the United States, shall be one thousand sour hundred and eighty five parts sine 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 j which alloy shall be wholly of copper.
Sec. 14. And be it further enacled, That it perfon« shall be lawful for any person or persons to "JJjJj^ bring to the said mint gold and silver bullion, diver i>uiin order to their beinc coined; and that the ll0.n'tobe
o' coined Irce
bullion so brought shall be there assayed and of exncnce.. coined as speedily as may be after the receipt thereof, and that free of expence to the person or persons by whom the same shail have been brought. And as soon as the said bullion shall have been coined, the person or persons by whom the lame 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 how the dimint, to make an immediate exchange of coins Vector may for standard bullion, with a deduction of one "fnstherehalf per cent from the weight of the pure gold, fpr, deducor pure silver contained in the said bullion, as pCnrgCcnt. 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 juty 0f ge. to furnish the said'mint from time to time when- cretary o£ ever the state of the treasury will admit thereof, herein, with such sums as may be necessary for effecting the said exchanges, to be replaced as spee.