The monetary unit of the Mexican Republic, under this decree, is to
remain as heretofore, the silver dollar, with the same fineness and
weight that it now has.
The subdivisions of the dollar are to be coins of fifty cents,
twenty-five cents, ten cents, and five cents. The coin of one cent is to
be of copper, or an alloy of that metal. The gold coins are to be pieces
of twenty dollars, ten dollars, five dollars, two dollars and fifty
cents, and one dollar.
The weight, diameter, and fineness of the coins is established according
to the metrical decimal system, and after ninety days from the date of
the publication of the decree, it is to be obligatory upon all assayers
throughout the republic to mark the fineness of gold and silver in
thousandths instead of the Spanish terms of “dineras,” “quiiates,” and
“granos,” heretofore in use.
From the 15th of September, 1868, the circulation of money of the
so-called imperial coinage, and of twelve and a half and six and a
quarter cent pieces is to be abolished.
The early attention to so important a reform as that effected by this
decree reflects great credit upon this government.
Hon. William H. Seward, Secretary of State, Washington, D. C.
[Translation.]
Department of Fomento, Colonization, Industry, and
Commerce.–Section 1.
The citizen President of the republic has been pleased to address to
me the following, decree:
Benito Juarez, constitutional President of the United Mexican States,
to the inhabitants of the same be it known: That in use of the ample
faculties with which I am invested, and considering the necessity
that exists of reforming the national coin, and of establishing a
uniformity in the subdivisions of the same, for the benefit of all
classes of our society, and the greater facility and simplicity of
commercial transactions; considering that the simultaneous and
authorized use of com of the old system and of the decimal, besides
being embarrassing, is contrary to the principles of administration
generally accepted, and is also the cause of difficulties and of
losses to the larger portion of citizens who form the laboring part
of our population; considering that the copper money coined in the
States, on account of the exceptional circumstances, does not fully
meet the necessary conditions, and that its lack of uniformity
restricts its circulation within very narrow limits, thus causing
great inconvenience to the development of commerce; considering that
the actual type of our coin is imperfect in its artistic part and is
susceptible of the improvement and perfection that has been attained
by the arts in our country; considering, finally, that the present
is an opportune moment to put in practice the prescriptions of the
law which determined the establishment of the decimal system in the
republic, without making any essential alteration in the value of
the monetary unit of Mexico, generally known and appreciated in the
world, I have thought proper to decree as follows:
Article 1. The monetary unit of the Mexican
Republic shall be as heretofore, the silver dollar with the same
fineness and the same weight that it now has.
Art. 2. The silver dollar shall be divided
into two pieces of fifty cents, four of twenty-five cents, ten of
ten cents, and twenty of five cents. The one cent piece shall be of
copper, or a special alloy in which said metal shall
predominate.
Art. 3. The coinage of gold shall be pieces
of twenty dollars, of ten dollars, of five dollars, of two dollars
and fifty cents, and of one dollar.
Art. 4. The fineness of all coins of silver
shall be 902 777/1000, (10 dineras 20 grains,) and of all coins of gold 875
thousandths, (21 carats.)
Art. 5. The dollar of silver shall weigh 27
grams 73 milligrams; that of the piece of fifty cents, 13 grams 536
milligrams; that of the piece of twenty-five cents, 6 grams 768
milligrams; that of the piece of ten cents, 2 grams 707 milligrams;
that of the piece of five cents, 1 gram 353 milligrams. The weight
of the gold coin of
[Page 389]
twenty
dollars shall be 33 grams 841 milligrams; that of the piece of ten
dollars, 16 grams 920 milligrams; that of the piece of five dollars,
8 grams 460 milligrams; that of the piece of two dollars and fifty
cents, 4 grams 230 milligrams; and that of the piece of one dollar,
1 gram 692 milligrams.
Art. 6. The diameter of the dollar of
silver shall be 37 millimeters; that of the piece of fifty cents, 30
millimeters; that of the piece of twenty-live cents, 25 millimeters;
that of the piece of ten cents, 17 millimeters; that of the piece of
five cents, 14 millimeters.
The diameter of the gold coins shall be adjusted according to the
following dimensions: The piece of twenty dollars, 34 millimeters;
the piece of ten dollars, 27 millimeters; the piece of five dollars,
22 millimeters; the piece of two dollars and fifty cents, 18
millimeters; the piece of one dollar, 15 millimeters. The piece of
one cent will have 25 millimeters of diameter, if of copper, or 20
millimeters if made of a special alloy.
Art. 7. Each piece of money shall bear,
clearly stamped upon it, its respective value; the initials of the
name of the government assayer, the place and year of its coinage,
and also marked upon it the fineness, when of silver or of gold.
Art. 8. The cent shall be made of copper or
a special metallic compound in which copper shall predominate in
such proportion as shall be fixed by the department of fomento.
Art. 9. The range or difference permitted
in the fineness of the precious metals shall not exceed three
thousandths for silver and two thousandths for gold; but this
difference shall only be admitted in certain exceptional cases and
not as a general rule, in the coinage.
Art. 10. Ninety days after the publication
of this law in this capital, it will be obligatory upon all the
assayers of the republic to mark in thousandths the fineness of
silver and of gold, whether these metals are separated or mixed. The
terms “dineras,” “quelates,” and “granos,” heretofore used to
designate the purity of said metals and their alloys, being
abolished, the expression of the fineness will hereafter be carried
to tens of thousandths.
Art. 11. In order that the preceding
article shall be carried into full effect, the corresponding decimal
weights shall be ordered to be made by the department of fomento,
and shall be sent to all the assay offices and mints of the
republic.
Art. 12. For the preparation of the new
molds for the national coin, in conformity with the reforms now
decreed, and in order to improve and perfect the actual type, a
meeting shall be called of all the Mexican engravers, and of
foreigners, in order that they may present their models, which shall
be submitted to the decision of a special jury, appointed and
presided over by the minister of fomento, under such regulations as
shall be prescribed in the call therefor.
Art. 13. On the 15th of September, 1868,
the circulation of the so-called imperial coins shall be abolished;
as also that of the denominated “reales” and “medios,” and such of
the copper coin as is not in conformity with the new system. The
department of hacienda is authorized to issue the necessary orders
for the redemption of said coin.
Wherefore, I order that it be printed, published and circulated, in
order that it may be duly complied with.
Palace of the national government in
Mexico, the 27th of November,
1867.
BENITO JUAREZ.
To the Citizen Blas Balcarcel,
Minister of Fomento, Industry and
Commerce.
And I communicate the same to you for your intelligence and the
consequent ends.
Independence and liberty!
Mexico, November 28,
1867.
BALCARCEL.
