NOTE.-Where silver is the legal standard and represents the unit of account, its value is reduced to the basis of gold, on the assumption that the ratio of 15% to 1 represents the relative values of silver and gold.

TABLE 5.-Weight, fineness and value of foreign coins, as determined by United States mint assays.

EXPLANATORY REMARKS.

1. The weight is expressed in fractions of an ounce troy, agreeing with the terms used in the United States mints.

If it is desired to have the weight of any piece in grains, regard the thousandths of an ounce as integers, take their half, from which deduct 4 per cent of that half, and the remainder will be grains.

2. The fineness is expressed in thousandths parts, i.e., so many parts of pure gold or silver in 1,000 parts of the coin. The old carat system is generally abandoned (except for jewelry), but it may be worth while to say that 41% thousandths equal one carat.

3. The valuation of gold is a direct calculation from weight and

fineness, at the legal rate of 25.8 grains, 900 fine, being equal to $1; or $20.672 (nearly) per ounce of fine gold.

Foreign coins, if converted into United States coins, will be subject to a charge of one-fifth of one per cent.

4. For the silver there is no fixed legal valuation as compared with gold. The value of the silver coins is computed at the rate of 120 cents per ounce, 900 fine, payable in subsidiary silver coin, that having been the mint price when the assays were made.

The gold value of silver is to be found in the bullion markets; at present it is about 113 cents per ounce, 900 fine.

5. These tables generally give the one principal coin of each country, from which the other sizes are easily deduced. Thus, when the franc system is used, there are generally gold pieces of 40, 10, 20, and 5 francs, all in due proportion. But in silver the fractional coins are very often of less intrinsic value than the normal coin, proportionately. These are seldom exported.

*The doubloon (doblon, or more properly onza, though not really an ounce Spanish) is now generally discontinued. These figures answer as well for the doubloon of Peru, Chili, Bolivia, etc., and therefore this item stands for all. Popayan pieces were rather inferior.

+ The sovereigns coined at Melbourne and Sydney, in Australia, and distinguished only by the mint marks M and S, are the same as those of the London mint. Sovereigns generally are up to the legal fineness, 916% (or 22 carats).

WM. A. RICHARDSON, Secretary of the Treasury.

TABLE No. 6.

Showing the values in United States money of the pure gold or silver representing, respectively, the monetary units and standard coins of foreign countries, January 1, 1876.

TREASURY Department, WASHINGTON, D. C., January 1, 1876. The estimate of values contained in the following table has been made by the Director of the Mint, and is hereby proclaimed in compliance with the provisions of law.