Page:United States Statutes at Large Volume 17.djvu/469

 FORTY-SECON D CONGRESS. Sess. III. Ch. 131. 1873. 429 scribed 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 authorized Purchase of _ by this act, a sum not exceeding fifty thousand dollars in lawful money of 'uml fb" th? f"' the United States shall be transferred by the Secretary of the Treasury to mr wmagol the credit of the superintendent of the mint at Philadelphia, at which to becarried on establishment only, until otherwise provided by law, such coinage shall be °"lY “Phu“d°l‘ carried on. The superintendent, with the approval of the director of the pm 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 a Mi¤¤r—<><>i¤¤g¤ nominal value, exceeding the cost thereof, shall be credited to the special Pmm f““d‘ fund denominated the minor-coinage profit fund; and this fund shall be charged with the wastage inciured in such coinage, and with the cost of distributing said coins as hereinafter provided. The balance remaining to Mami- wins, the credit of this fund, and any balance of profits accrued from minor Wllm d°=U"°”· coinage under former acts, shall be, from time to time, and at least twice a abl°’ M'; year, covered into the treasury of the United States. Sec. 30. That the minor coins authorized by this act may, at the dis- exchangeable cretion of the director of the mint, be delivered in any of the principal f°’ Wim? 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 rules redeemable in as may be prescribed by the Secretary of the Treasury, all copper, bronze, "h“* ’“m’· and copper-nickel 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 authorized Such coinage and required to direct that such coinage shall cease until otherwise ordered *° °*¤-Wi Wimby him. Sec. 31. That parcels of bullion shall be, from time to time, trans- Meltingaud ferred by the superintendent to the melter and refiner; a careful record ¤‘¤6¤i¤S- 0f 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 reiiner, and the bullion thus placed in the hands of the melter and refiner shall be subjected to the several processes Ingote fer coinwhich may be necessary to form it into ingots of the legal standard, and was of a quality suitable for coinage. Sec. 32. That the ingots so prepared shall be assayed; and if they to be assayed prove to be within the limits allowed for deviation from the standard, the *1*; 1*;*}* *m°“*° assayer shall certify the fact to the superintendent, who shall thereupon g ’ receipt for the same, and transfer them to the coiner. Sec. 33. That no ingots shall be used for coinage which differ from _ not to be used, the legal standard more than the following proportions, namely: Inngold ;,;0l£°£glH;:Or6 ingots, one thousandth ; in silver ingots, three thousandths ; in minor- ,1,,,,,; &,,_’ coinage alloys, twenty-five thousandths, in the proportion of nickel. Sec. 34. That the melter and refiner shall prepare all bars required Bars for pay; ‘ for the payment of deposits; but the fineness thereof shall be ascertained f;;‘;:1§‘;e?l;l;;’*‘”· and stamped thereon by the assayer; and the melter and retiner shall &c_ ’ deliver such bars to the superintendent, who shall receipt for the same. Sec. 35. That the superintendent shall, from time to time, deliver to Ingcastgzpsin the coinor ingots for the purpose of coinage; a careful record of these gfsdtgo 5mm;?` transfers, noting the weight and character of the bullion, shall be lrept, 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 comer shall