Papers Relating to the Foreign Relations of the United States, Transmitted to Congress, With the Annual Message of the President, December 4, 1876
No. 89.
Mr. Nicholas
Fish to Mr. Fish.
Berlin, October 23, 1876. (Received Nov. 10.)
Sir: Referring to your circular of September 18, in regard to the information desired by the Commission of Congress, I have the honor, in advance [Page 167] of a reply from the foreign office to my note of the 5th instant, to transmit herewith copies of the coinage-laws of the empire of November 11, 1871, and of July 9, 1873, together with translations of the same. Copies of these laws were sent by Mr. Bancroft to the Director of the Mint in October, 1873, in compliance with your circular No. 38, of April 16 of that year.
Under the provisions of these laws there have been coined up to October 7, 1876, a coinage amounting to 1,790,471,158 73/100 marks in value. The division among the respective metals is as follows:
| Marks. | ||
| Gold | 1,425,193,360 | |
| Silver | 322,544,977 | 30/100 |
| Nickel | 33,556,523 | 80/100 |
| Copper | 9,176,297 | 63/100 |
I annex an extract from the National Zeitung showing the division of these amounts among the respective coins.
I have, &c., &c.,
German gold-coinage law of December 4, 1871.
(No. 745.) Law concerning the coinage of imperial gold coins, of December 4, 1871.
We, William, by the grace of God German Emperor, King of Prussia, &c., decree, in the name of the German Empire, after the approval of the Federal Council and Imperial Diet, as follows:
§ 1. There shall be coined an imperial gold coin, of which 139½ pieces shall be made from a pound (Pfund) of pure gold.
§ 2. The tenth part of this gold coin shall be called a mark, and divided into a hundred Pfennige.
§ 3. Besides the imperial gold coin of ten-mark, (§ 1,) there shall also be coined imperial gold coins of twenty-mark, of which 69¾ pieces shall be made of a pound (Pfund) of pure gold.
§ 4. The alloy of the imperial gold coins shall be fixed at 900 thousandth parts gold and 100 thousandth parts copper. Accordingly, 125.55 ten-mark pieces, or 62.775 twenty-mark pieces, weigh one pound, (Pfund.)
§ 5. The imperial gold coins shall bear on one side the imperial eagle, with the inscription “Deutches Reich,” and with the statement of the value in marks, as well as the number of the year (date) of the coinage; on the other side the likeness of the ruler of the state, or, in the case of free cities, the emblem of such free city, with an appropriate inscription and local mint-mark. The diameter of the coins, the nature and inscription of the edges of the same, shall be fixed by the Federal Council.
§ 6. Until the decree of a law concerning the withdrawal of the large silver coins, the coining of the gold coins shall follow, at the cost of the empire, for all the states of the union, at the mints of those states as shall have declared themselves prepared therefor.
The chancellor of the empire shall determine, with the agreement of the Federal Council, the amounts of gold to be coined, the division of these amounts among the different sorts of coin, and among the different mints, and in due proportion the compensation to be allowed the latter for the coinage of each sort of coin. He shall supply the mints with the gold which is necessary for the coinage assigned to them.
§ 7. The execution of the coining of the imperial gold coins shall be fixed by the Federal Council and subject to supervision on the part of the empire. This management shall determine the perfect accuracy of the coins according to value and weight. So far as an absolute accuracy cannot be maintained the variation in excess or in diminution shall exceed in weight more than two and one-half thousandth parts of its weight, in fineness not more than two thousandth parts.
§ 8. All payments which by law are paid or which may be paid in the silver coins of Thaler-currency, of the South German currency, of the Lübeck or Hamburg courant currency, or in the thalers of the gold Bremen currency, can to a like extent be paid in imperial gold coins, (§ 1 and § 3,) which will be reckoned as follows:
The ten-mark piece as worth 3⅓ thalers, or 5 florins 50 kreutzers South German currency, [Page 168] 8 marks 5⅓ schilling Lübeck or Hamburg courant currency, 31/93 thalers gold Bremen currency.
The twenty-mark piece as worth 62/3 thalers, or 11 florins 40 kreutzers South German currency, 16 marks 102/3 schilling Lübeck and Hamburg courant currency, 62/93 thalers gold Bremen currency.
§ 9. Imperial gold coins whose weight is not more than five thousandth parts less than the standard weight, (§ 4) (passirgewicht tolerated weight,) and which have not become diminished in weight through violent or illegal injury, shall be received in all payments as being of full weight.
Imperial gold coins which do not attain the aforesaid tolerated weight, (passirgewicht,) and that may be received in payment at the imperial, state, provincial, or communal treasuries as well as at the gold or credit establishments and banks, shall not again be issued by the said treasuries and establishments.
When, in consequence of long circulation and wear, the imperial gold coins have suffered so much in weight that they no longer attain the tolerated weight, they shall be withdrawn for melting at the expense of the state. Further, such worn gold pieces shall always be received by all the treasuries of the empire and of the states of the Bund at the same value at which they were issued.
§ 10. The coinage of other gold coins than those introduced by this law, as well as of large silver pieces, with the exception of medals, shall not take place until further notice.
§ 11. The present current gold coins of the German bund states are to be withdrawn on account of and at the cost of the empire, in proportion to the gold coinage of the new gold pieces. (§ 6.)
The chancellor of the empire is empowered in the same way to direct the withdrawal of the former large silver pieces of the German states of the bund, and to take for this purpose the necessary means out of the funds set apart for the same in the imperial treasury.
Concerning the execution of the foregoing provisions, an account is to be given annually to the imperial Parliament at its first regular session.
§ 12. Weights for gauging and stamping shall be permitted which shall represent the standard weight and the current weight of the coins to be coined by the provisions of this law, also multiples of each of the same. For the gauging and stamping of these weights the provisions of articles 10 and 18 of the regulations for measures and weights of the 17th August, 1868, shall be binding.
§ 13. In the territory of the kingdom of Bavaria, in case of necessity a subdivision of the pfennig into two half-pfennige may be made.
In testimony whereof we have hereunto set our hand and the imperial great seal.
Given at Berlin December 4, 1871.
German coinage law July 9, 1873.
(No. 953.) Mint law of July 9, 1873.
We, William, by the grace of God German Emperor, King of Prussia, &c., decree in the name of the German Empire, after the approval of the federal council and the imperial Parliament, as follows:
Article 1.
The imperial gold coinage takes the place of the present currencies of the states.
Its unit is the mark, as the same is established by § 2 of the law of December 4, 1871, concerning the coinage of imperial gold coins. (Reichs Gesetsblatt, p. 404.)
The date on which the imperial coinage shall go into effect in the whole district of the empire shall be fixed by a decree of the Emperor to be issued with the consent of the federal council, to be published at least three months before the arrival of that date. The state governments are empowered also before that date to introduce the imperial mark currency by a decree in their district.
Article 2.
Besides the imperial gold coins mentioned in the law of December 4, 1871, there shall also be coined imperial gold coins of five marks, of which 279 pieces shall be made from a pfund (pound) of pure gold. The provisions of §§ 4, 5, 7, 8, and 9 of that law have appropriate application to this coin, but with the provision that in regard to it the variation in excess or in diminution (§ 7) shall amount to four thousandth parts, and the difference between the standard weight and the tolerated weight (§ 9) to eight thousandth parts.
[Page 169]Article 3.
Besides the imperial gold coins there shall be coined as imperial coins—
- 1.
- As silver coins—five-mark pieces, two-mark pieces, one-mark pieces, fifty-pfennige pieces, twenty-pfennige pieces.
- 2.
- As nickel coins—ten-pfennige pieces and five-pfennige pieces.
- 3.
- As copper coins—two-pfennige pieces, one-pfennig pieces,
according to the following provisions:
- § 1.
- In the coining of silver coins the pound (pfund) of
fine silver shall be made into—
- 20 five-mark pieces,
- 50 two-mark pieces,
- 100 one-mark pieces,
- 200 fifty-pfennige pieces, and into
- 500 twenty-pfennige pieces.
- The alloy consists of 900 parts silver and 100 parts copper, so that 90 marks in silver coins weigh 1 pound, (pfund.)
- The execution of the coining of these coins shall be regulated by the federal council. In the single pieces the variation in excess or in diminution shall not exceed three thousandth parts in weight, with exception of the twenty-pfennige pieces not more than ten thousandth parts. In the bulk, however, the standard weight and the standard fineness must be attained in regard to all silver coins.
- § 2.
- The silver coins above one mark bear on one side the imperial eagle, with the inscription “Deutches Reich,” and the statement of the value in marks as well as the date of the coining; on the other side the likeness of the ruler of the state, or, in the case of free cities, the emblem of the free city, with an appropriate inscription and the mint-mark. The diameter of the coins, the nature and inscription of the edges of the same, shall be fixed by the federal council.
- § 3.
- The remaining silver coins, the nickel and copper coins, bear on one side the statement of value, the date, and the inscription “Deutches Reich;” on the other side the imperial eagle and mint-mark. The more exact regulations concerning the composition, weight, and diameter of these coins, as well as the ornamentation of the reverse side, and the finishing of the edges, shall be determined by the federal council.
- § 4.
- The silver, nickel, and copper coins shall be coined at the mints of those states that declare that they are prepared for the purpose. The coining and issuing of these coins is subjected to supervision by the empire. The chancellor of the empire shall determine, with the consent of the federal council, the amounts to be coined, the division of these amounts among the various sorts of coins and among the different mints, and in due proportion the compensation to be allowed for the coining of each sort of coin. The furnishing of the metal for the coinage for the mints is to be effected upon an order of the chancellor of the empire.
Article 4.
The entire amount of imperial silver coins shall not, until otherwise directed, exceed ten marks per capita of the population of the empire.
Upon each issue of these coins an equal quantity in value of the circulating coarse silver coins of the states, beginning with those not belonging to the thirty-thaler basis, shall be withdrawn. The value is to be computed according to art. 14, § 2.
Article 5.
The entire amount of the nickel and copper coins shall not exceed two and a half marks per capita of the population of the empire.
Article 6.
Of the fractional coins of the different states the following are to be withdrawn by the date of the inauguration of the imperial currency:
- 1.
- Those depending on the thaler basis, with the exception of the Bavarian heller, and of the five, two, and one pfennig pieces of Mecklenburg, coined under the mark system.
- 2.
- The fractional coins of 2 and 4 pfennige depending on the duodecimal division of the groschen.
- 3.
- The fractional coins of the thaler currency, depending on another division of the thaler than that of 30 groschens, with the exception of the pieces of the value of 1/12 thaler.
After this date no one shall be obliged to receive these fractional coins in payment except the treasuries upon which the duty of redeeming them devolves.
[Page 170]Article 7.
The coining of the silver, nickel, and copper coins, (Art. 3,) as well as the withdrawal of the silver coins and fractional coins of the states, shall be effected at the cost of the empire.
Article 8.
The federal council will direct the withdrawal of the coins of the states and establish the necessary provisions for the same.
The notices concerning the withdrawal of the coins of the states are in addition to the publication in papers, to be determined by direction of the states, to be also published in the “Reichs Gesetzblatt.”
A withdrawal shall only then take place when a period for redemption of at least four weeks has been appointed, and has been made known by the designated papers, at least three months before its expiration.
Article 9.
No one is obliged to receive in payment imperial silver coins in an amount greater than 20 marks, and nickel and copper coins in an amount greater than 1 mark.
By the imperial and state treasuries, imperial silver coins shall be received in any amount.
The federal council will designate those treasuries that will deliver imperial gold coin, upon the payment of imperial silver coin for the same, in sums of at least 200 marks, or of nickel and copper coins in sums of at least 50 marks, upon demand.
It will also prescribe the particular conditions of the exchange.
Article 10.
The obligation to receive and exchange (Art. 9) does not apply to perforated coins, or to any whose weight has been otherwise diminished than by ordinary circulation, nor to counterfeit coins.
Imperial silver, nickel, and copper coins which have lost materially, in consequence of long circulation and use, in weight or inscription, will be nevertheless received in all the treasuries of the empire and of the states, but will be withdrawn at the cost of the empire.
Article 11.
Coins other than the silver, nickel, and copper coins introduced by this law will hereafter not be coined. The right reserved by the provision contained in section 10 of the law concerning the coinage of imperial gold coins of December 4, 1871, (Imperial Law Gazette, p. 404,) to coin silver coins as medals, expires on the 31st December, 1873.
Article 12.
Imperial gold coins will be coined hereafter according to the provisions of section 6 of the law concerning the coinage of imperial gold coin of 4th December, 1871, (Imperial Law Gazette, p. 404,) at the expense of the empire.
Private persons shall have the right to have 20-mark pieces coined for their account at such mints as have declared themselves ready to coin for the account of the empire, in so far as such mints are not engaged for the empire.
The charge to be made for such coinage will be fixed by the imperial chancellor, with the concurrence of the federal council, but shall not exceed the maximum of 7 marks for the pound of pure gold.
The difference between this charge and the compensation which the mint claims for coining goes to the imperial treasury. This difference must be the same for all German mints.
The mints shall claim no greater compensation for coining than the imperial treasury allows for the coinage of 20–mark pieces.
Article 13.
The federal council is empowered—
- 1.
- To fix the value beyond which foreign gold and silver coins shall not be tendered and given in payment, as also to wholly prohibit the circulation of foreign coins.
- 2.
- To determine whether foreign coins may be taken in payment by the treasury of the empire or the several states in inland commerce at a rate to be published, and also in such cases to fix the rate.
Habitual contravention against the dispositions made by the federal council in accordance with provision 1 will be fined 150 marks, or punished with imprisonment not exceeding six weeks.
[Page 171]Article 14.
From the inauguration of the imperial currency the following provisions shall be in force:
§ 1. All payments which, until that time, were to be made in coins of an inland currency, or in foreign coins made equivalent to inland coins by the laws of the several states, shall be made in imperial coin; without prejudice, however, to the provisions of articles 9, 15, and 16.
§ 2. The conversion of gold coins for which a certain proportion to silver coins is not fixed by law, is to be made according to the proportion of the fine gold contained, according to law, in the coins mentioned in the obligation to pay, to the pure gold contained in the imperial gold coin according to law.
In the conversion of other coins the thaler will be reckoned at the value of 3 marks, the gulden of South German currency at the value of 15/7 marks, the mark of Lubec or Hamburg currency (kurantwährung) at the value of 11/5 marks, and the remaining coins of the same currencies at corresponding values, according to their proportion to the coins mentioned.
In the conversion, fractions of pfennige of the imperial currency will be reckoned at 1 pfennig, if they amount to one-half pfennig or more; fractions under ½ pfennig are not reckoned.
§ 3. If obligations to pay are entered into after the inauguration of the imperial currency on the basis of former inland money or accounting currencies, (geld oder rechnungswahrungen,) payment shall be made in imperial coin according to the provisions of § 2, without prejudice to articles 9, 15, and 16.
§ 4. In all documents of writing made in court or before a notary public concerning an amount of money, and also in all judgments of courts which condemn to a sum of money, this sum of money, if a certain proportion of the same to the imperial currency is legally established, is to be expressed in imperial currency; besides which, however, the designation according to the currency in which the obligation was originally entered into is allowed at the same time.
Article 15.
In the place of the imperial coins there are to be received in all payments until the withdrawal from circulation—
- 1.
- In the entire territory of the bund, in place of all imperial coins the 1 and 2 thaler pieces of German coinage, reckoning the thaler at 3 marks.
- 2.
- In the entire territory of the bund, in place of the imperial silver coins current silver coins of German coinage of ⅓ and 1/6 thaler, reckoning the ⅓ thaler at 1 mark, and the 1/6 thaler at half a mark.
- 3.
- In those countries in which at present the thaler currency
obtained, instead of the imperial nickel and copper coins, the
following coins of the thaler currency at the value given beside
them—
- 1/12 thaler pieces, at the value of 25 pfennige.
- 1/15 thaler pieces, at the value of 20 pfennige.
- 1/30 thaler pieces, at the value of 10 pfennige.
- ½ groschen pieces, at the value of 5 pfennige.
- ⅕ groschen pieces, at the value of 2 pfennige.
- 1/10 and 1/12 groschen pieces, at the value of 1 pfennig.
- 4.
- In those countries in which the duodecimal division of the groschen exists, in the place of the imperial nickel and copper coins the 3–pfennige pieces based on the duodecimal division of the groschen, at the value of 2½ pfennige.
- 5.
- In Bavaria, in the place of the imperial copper coins, the Heller-pieces, at the value of ½ pfennig.
- 6.
- In Mechlenburg, in place of the imperial copper coins, the 5–pfennige, 2–pfennig, and 1–pfennig pieces, coined under the mark system, at the value of five, two, and one pfennig.
All the coins designated in 3 and 4 are to be received in payment at all public treasuries of entire empire at the above-stated values until the withdrawal of them from circulation.
Article 16.
German gold crowns, gold coins of the different states, and foreign gold coins declared equal to domestic coins by the law of the land, as well as coarse silver coins which belong to some other currency of particular states other than the thaler currency, are to be received in payment until withdrawn from circulation, in so far as payment in those coins must have been accepted according to heretofore-existing rules.
[Page 172]Article 17.
Already before the inauguration of the imperial gold currency, all payments which may legally be made in coins of a domestic currency or in foreign coins declared equal to domestic coins by the law of the land, may be made wholly or in part in imperial coins, subject to the provisions of article 9, in such manner that the calculation of value is to take place according to article 14, § 2.
Article 18.
By the 1st of January, 1876, all bank-notes not calling for imperial currency are to be withdrawn. After this date only such bank-notes as call for imperial currency in sums of not less than 100 marks shall remain in circulation or be issued.
The same provisions apply to the notes hitherto issued by corporations.
The paper money issued by the individual states of the union is to be withdrawn at the latest by the 1st of January, 1876, and to be called in at the latest six months before this date. On the other hand, an issue of imperial paper money will take place in accordance with an imperial law to be enacted. The imperial law will make detailed provisions concerning the issue and circulation of the imperial paper money, as well as concerning the facilities to be extended to the individual states of the union in the withdrawal of their paper money.
In testimony whereof, our own high signature and imperial seal.
Done at Bad Em s, July 9, 1873.
[seal.] (Signed)
Extract from National Zeitung, showing amount of imperial coinage to October 7, 1876:
In the German mints up to October 7, 1876, there were coined—
Of gold coins: 1,092,367,980 marks, double crowns (20m); 332,825,380 marks, crowns, (10m.)
Of these, 171,345,164 marks were on private account.
Of silver coins: 67,237,590 marks, 5-mark pieces; 39,022,844 marks, 2-mark pieces; 143,512,165 marks, 1-mark piece; 39,643,058 marks, 50 pfennige, 50-pfennige pieces; 33,129,319 marks, 80 pfennige, 20–pfennige pieces.
Of nickel coins: 22,320,799 marks, 50 pfennige, 10–pfennige pieces; 11,235,724 marks, 30pfennige, 5-pfennige pieces.
Of copper coins: 5,831,665 marks, 46 pfennige, 2-pfennige pieces; 3,344,632 marks, 17 pfennige, 1-pfennige pieces.
Total coinage.
Of gold coins, 1,425,193,360 marks.
Of silver coins, 322,544,977 marks 30 pfennige.
Of nickel coins, 33,556,523 marks 80 pfennige.
Of copper coins, 9,176,297 marks 63 pfennige.