Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1819-02-25

| Arswer. Nothing occurs to me as adequate
Ia thi, effect, except increasing the value of
gold relatively that OF silver, so that the ratio
OF the one TO the other. may be somewhat
greater iiian in any part of Europe. According
10 the standard in ;.ie Quilted States, this ratio
hi the pure metals is AS Is to |. la some parts
OF Europe il is as l6 10 !, which believe is at
, present tie maximum. Thcusii, as the coins
az no one country in Europe are Il legal tender
IN any Other. gold aud silver, whether IN coins
or bullion, become an articleOf commerce. and
their relative vaine is continually varying,
according TO circumstances. Considering the
expense of the importation OF gold isto tile L.
States, should tank that oar COVE innent
wonId be Jusiitiabie in adding 10 per cent to
tue present relative value ct gold This would
hoid cut powerful and eiiectual n.etye tor
the Importation OF gold into the United States,
anJ at the same time be a powerful barrier
against its eNporta,ian. All the difficulties
atlSins from The American gold coins now in
circulation might be readily obviated. either
oN calling them in for recoinage, suffering
them to pass at the increased value.
Presuains that itwoud not be unacceptable
nave enclosed description, with the impress
sioiis and qualities. of sundry species of silver
dollars from South America, which have from
time TO time been brought TO the mint, as lie
pests. The whole amount of such deposits,
during the last year, is hut lille short oil half
a million OF dollars.
have the honor TO be, &c.
ROBERT PATTERSON.
rs. have also enclosed, from the Assay er
OF Tie MINT. statement of the weight and
quality OF sumdry silver coins from different
| parts OF Europe, and which may probably be
acceptable.
From London paper Of april 22, 1913.
The large quantity of gold pieces which
have lately been coined, aud their almost i'm
! mediate disappearance, is subject OF surprize
anu material concern 10 the people at large.
Some have ascribed this to The difference of
| exchange between this country antsthe rest o {
Europe; bnt this disappearance ofthe coin did
not take place TO a1y considerable denr.e
when the exchange was coniessedly against
| us, and much less could the difference Of
! exchange produce any such effect al present,
when il l. evidently in our favor. But, in all
| probability, the Cause of this deficiency of
GOLD coin IN crcuiatoD lies nearer home and
CONSISTS IN the proposition which has lately
| been established between the gold and silver
CON. cousidcred as buliion.-ro explain this
u Is necessary To advert a little 10 the proper
ties belonging to coined money.
Com may be considered in two lights list
AS a sign of value and again, (Which is the
most important consideration as ii deposit #
| eq1a. intrinsic value. with the sum il professes
to represent. The worth as Mr.. Leake oh
serves, is theintrinsic value which makes it the
measure of all other things That the com
should possess this de, rec of intrinsic yalne
was secured by two acts of parliament one o {
! the 18th, 81 the other oil the 18th of Charles I'd
| which enact" That every person bringim. any
| foreign coin or bullion TO the Mint TO he coin
! ed, should have the same aAsayed and
| melted down, without any charge or defaI-
| cation; and for every pound Troy of crown
goid or sterling silver, should receive the like
weight in coined money of crown or standard
gold, and of sterling or standard silver and
| I'd 1T the bullion so brought was finer or
coarser than crown gold or standard sill, er.
| so much more or less should he allowed as IL
was better or.worse, and without any charge
or coinage, or without any uudue preference
| IN the coinage. And. 10 defray the charges of
| the Mint and coinage, duty was laid on
wines, &c"
III appears that this act, which was couti.
hued by the succeeding princes" that the
seigneuraee, and all otIer dunes on coinage
were III effect abolished, or rendered inc fec.
tuaI, in the time of queen Elizabeth, and until
The lSd year of her reign, go shllings, each
weighing dwis; equal 10 96 grs. were cnt out
or pound ofsiiver bullion. In the i3d wear
OF the reign OF this princess, 62 shiiings were
cut oht OF pound of silver bullion and the
weigh; of each shilling consequently diminish
Ell from w 10 w. S57 at which rate il has
conilhned nntil the late alteration. say as 62
| shiiiings are TO 5160 grs. the number of grs in
Troy Pound) so are II shiIingS TO $50, the
humber OF srs III Il siiilings of The old stand
| ara. Again. l. $50 grains, divided :, i29 s (the
NUMBER or grains OF gold in guIuea,) gives
for quotient Is. O59.
me proportion OF standard siverto standard
goid, 10 point OF value, supposing the weights
equal ~ nearly as 1859 to 1. But now, when
90 shillings are cnt out OF pousa of silver
ana Il OF the given for a gsinra. the proper.
non Is altered the shilling which before
weighed, OF standard silver, 02 yrs. ard S57
declinai parts now reduced 10 81 grs. and
2,2y2 decimal pars, or III grains less than the
oin STANDARD ia each shilling, equal TO far
things and7 .i3s decimaIs fafarihing, or nearly
4 OF penny worse than the old standard
coinage.
Inns defaication OF weight amounts, in 81
sh'iiin@s, TO iio grams aud rs decimal parts,
equa' III value 10 Is. I'd and 9: IS0 decimal
parts, or Is I'd nearly, which in large sums
MAKE considerable difference, being ISs.
40 decimal parts per cent. short of tile old
'aine OF sO!u, compared with silver. This
reduces the proportion which gold and silver
ucdr 10 another firm , 4 A tDt,