SEC.
2. And be it further enacted, That the
Director of the Mint shall employ as many clerks,
workmen, and servants as he shall from time to time find
necessary, subject to the approbations of the President
of the United States.
SEC. 3. And be it further
enacted, That the respective functions and duties of the
officers above mentioned shall be as follow: The Director
of the Mint shall have the chief management of the
business thereof, and shall superintend all others
officers and persons who shall be employed therein. The
assayer shall receive and give receipts for all metals
which may lawfully be brought to the Mint to be coined;
shall assay all such of them as may require it, and shall
deliver them to the chief coiner to be coined. The chief
coiner shall cause to be coined all metals which shall be
received by him for that purpose, according to such
regulations as shall be prescribed by this or any future
law. The engraver shall sink and prepare the necessary
dies for such coinage, with the proper devices and
inscriptions, but it shall be lawful for the functions
and duties of chief coiner and engraver to be performed
by one person. The treasurer shall receive from the chief
coiner all the coins which have been struck, and shall
pay or deliver them to the persons respectively to whom
the same ought to be paid or delivered; he shall morever
[more ever] receive and safely keep all monies which
shall be for the use, maintenance and support of the
Mint, and shall disburse the same upon warrants signed by
the Director.
SEC. 4. And be it further
enacted, That every officer and clerk of the said Mint
shall, before he enters upon the execution of his office,
take an oath or affirmation before some judge of the
United States faithfully and diligently to perform the
duties thereof.
SEC. 5. And be it further
enacted, That the said assayer, chief coiner and
treasurer, previously 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, in the
sum of ten thousand dollars, with condition for the
faithful and diligent performance of the duties of his
office.
SEC. 6. And be it further
enacted, That there shall be allowed and paid as
compensations for their respective services—To the
said Director, yearly salary of two thousand dollars, to
the said assayer, a yearly salary of one thousand five
hundred dollars, to the said chief coiner, a yearly
salary of one thousand five hundred dollars, to the said
engraver, a yearly salary of one thousand two hundred
dollars, to the said treasurer, a yearly salary of one
thousand two 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
enacted, That the accounts of the officers and persons
employed in and about the said Mint and for services
performed 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
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 of 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
enacted, That in addition to the authority vested in the
President of the United States by a resolution of the
last session, touching the engagement of artists 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
such manner 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
to 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 after mentioned, shall be defrayed from
the Treasury of the United States, out of any monies
which from time to time shall be therein, not otherwise
appropriated.
SEC. 9. And be it further
enacted, That there shall be 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
fort-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
eights 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 eights of a grain of
pure, or sixty seven grains and four eights of a grain of
standard gold. Dollars or the same is now current, and to
contain three hundred and seventy-one grains and four
sixteenth parts of a grain of pure, or 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
eights of a grain 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 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 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, 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 coinsthere
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 ease may require.
SEC. 11. 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 medals.
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, 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, 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 experiment
and observation which shall have been 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.
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 said
bullion shall be 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 gold or pure silver therein contained:
Provided nevertheless, bringing such bullion, and of the
direction 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 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 dollar; 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.
SEC. 17. And be it further
enacted, That it shall be the duty of the respective
officers of the said mint, carefully and faithfully to
use their best endeavors that all the gold and silver
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.
SEC. 18. And be it further
enacted, Ant 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 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 it shall be found that the gold and silver
so assayed, shall not be inferior to their respective
standards herein before 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 offices.
SEC. 19. And be it further
enacted, That 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
connivance of any of the officers or persons who shall be
employed at the said Mint, for the purpose of profit or
gain, 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 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.
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 miles or thousandths, a disme
being a tenth part of a dollar, a cent the hundredth part
of a dollar, a mille the thousandths 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.
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