CO129-279 - Public Offices - 1897 — Page 370

Co.

Ju. L. Jatow

2067

April 1. 1897

japan mail

COINAGE LAW

The following is a translation of the new currency law submitted by the Government to the Diet:-

Art. I.—The power of minting and issuing coins belongs to the Government. 7

Art. II-A weight of a fun (11.574 grs T.) of pure gold shall be the unit of coinage, which shall be called a pen.

Ant. III.-The varieties of Coin shall be as follow

GOLD COINS,

Pieces of 20-pen; 10-yen, and 5-yen.

SILVER COINS,

Pieces of 50 sen; 20-3am, and 10-sen.

NICKEL COINS.

Pieces of 5-sen.

COPPER COINS.

Pieces of 1-sen, and 5 rin.

Art. IV. The decimal system shall be adopted for purposes of currency calculation, The hundredth part of a yen shall be called a sen, and the tenth part of a sen shall be called a rin.

Art. V. The composition of the Coins shall be as follows:--

GOLD COINS.

900 parts of pure gold to 100 parts of copper.

SILVER COINS.

Soo parts of pure silver to 200 parts of copper.

NICKEL COINS.

250 parts of nickel to 750 parts of copper,

COPPER COINS.

950 parts of copper; 40 parts of tin, and 10 paris of zinc.

Art. VI. The weights of the Coins shall be as follow:---

Blomme.

Grammes.

The 20 yen Gold piece=4.444

(16.6665) The 10 yen Gold piece-2.222 (8.3333) The 5 yen Gold piece1.III ( 4.1666) The 50 sen Silver piece=3.5942 (13.4783) The 20 sen Silver piece=1 4377 (5.3914) The to sex Silver piece-0.7188 (2.6955) The 5s Nickel piece=1.844 ( 4.6654) The sen Copper piece=1.9008 (7.1280) The 5 rin Copper piece-0.9504 ( 3.5640)

Art. VII -Gold Coins shall be legal tender to any amount, Silver Coins shall be legal tender to the amount of teu yen. Nickel and Copper Coins shall be legal tender to the amount of one gen.

pattern

Art. VIII-The dimensies of the Coina shall be fixed by Imperial Ordinance,

Art. IX. The legal remedy of fineness shall be To in the case of Gold Coins, and zase in the case of Silver Coins,

Art. X. The legal remedy of weight shall as follows:

20 yen GOLD COIN; 0.00864 momme (0.0324 grammes); or 0.83 momme (3.1125 grammes) in 1,000 pieces. 10-yen GOLD COIN; 0.00605 mamme (0.02269 grammes); or 0.62 momme (2.325 grammes) in 1,000 pieces.

5 yen GOLD COIN; 0.00432

momme

(0 0162 grammes); or 0.41 momme (1.5375 grammes) in 1,000 pieces.

In the case of the SILVER COINS, legal remedy of weight shall be 0.02592 momme (0.0972 gramines) for each piece; or 1.24 momme (4.65 grammes) in each 1,000 pieces of 50-sen; 0.83 momme (3.1125 grammes) in each 1,000 pieces of 20-sen; and 0.41 momme (1.5375 grammes) in each 1,000 pieces of

10 sen.

March 3, 1897.

TREASURY

8584

REG 24 MAY 97)

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Rod 3000 97

Grammes.

Art, XI.-The minimum circulating weights of the Gold coins shall be as follow:-

Mcmmc. 20 yen Gold Coin......4.42... (16.575 ) 10-pen Gold Coin......2.21 ......( 8.2875) 5 yes Gold Coin......1.105......( 4.1438) Art, XII.-If, in consequence of friction from circulation, any of the Gold Coins fall below the minimum circulating weight, or if any of the Silver, Nickel, and Copper Coins become visibly reduced owing to the same cause, or if any Coins become inconvenient for purposes of cir culation, the Government shall exchange such Coins for others of the same face values, with- out making any charge.

Art. XIII.-If the design upon a Coin be- comes difficult to distinguish, or if it has been privately restamped, or otherwise defaced, it shall be regarded as unfit for circulation.

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Art. XIV.--Should any person import gold bullion and apply to have it minted into Gold Coin, the Government shall grant the application.

Art. XV.-The Gold Coins already issued at twice shall circulate on-an-equality with the Gold Coins issued under the provisions of this Law.

Art. XVI.-The Silver 1-yen Coins already issued shall be gradually exchanged for Gold Coins, according to the convenience of the Government, at the rate of one Gold yes for one Silver yen.

S

Pending the completion of the exchange re ferred to in the last paragraph, Silver 1-yen Coins shall be legal tender to an unlimited ex- tent, at the rate of one Silver pen for one Gold yea; and the suspension of their circula- tion shall be notified six months in advance, by Imperial Ordinance. Any of these coins not presented for exchange within a period of five full years reckoned from the day on which after their circulation is suspended, shall be regard. tratant ethenceforth as bullion.

Art. XVII-The 5-sen Silver Coins and the Copper Coins already issued shall continue in circulation as before.

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Art. XVIII.-From the day of the promulga- tion of this Law, the coinage of 1-yen Silver pieces shall cease; but this restriction shall not apply to silver bullion entrasted to the Govern delivered ment for coinage prior to that day,

Art. XIX.-All previous laws or ordinances conflicting with the provisions of this Law are bereby rescinded.

Art. XX.-With the exception of Art. XVIII., this Law shall go into operation from the Ist day of the 10th month of the 30th year of Meiji (October 1st, 1897).

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