Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1819-02-06

lecililg the COINS OF The United States,
those of silver must continue TO be ten
der i'm payment OF all debts.
An advantage may be offered to Anne
rican silver coins III internal commerce
over foreign coius OF equal purity and
weight, either by assigning diminished
value 10 foreign coin, and particularly TO
Spanish dollars, by reducing the weight
Of the American dollar.
The first is impracticable. The Span
ish dollar, Whatever our laws may be. will
be received by the banks and the people.
In all civilized countries Except China,
ir there is no minO il has been con-
sidered as the Office of the government 10
ascertain, by lis stamp, The weight and
fineness IT the metals which are used as
money. In some countries, and these
The most enlightened and liberal, the state
exaeis no duty upon this stamp o: coin
age. so that the individual receives from
the mint, m coin, the exact quantity of
pure metal which he has deposited i'm
bullion. This is the ease in France, i'm
Britain, in respect 10 her gold coins, and
II was go until recently IN respect 10 her
silver, aud in the United States. I'm France
AMI Great Britain, however, no foreign
com is allowed 10 he current. Under this
system, tue m reliant is encouraged to
carry 10 The mint whatever bullion he re-
ceives: the circulation Of the country is
Increased or DIMINISHED without artificial
appointments. as the state Of its trade NAV
require, and the value Of The coin is made
I" depend upon the general value Of the
metal IN the commercial world. Ii is be-
leved that, both irtfFrance and England.
however. II is made penal TO export or
Giclt the coin.
Upon the first establishment of "a mint
II ma lts. 80, A.
selgneUrage upon the coin was neccssari-.
ly presented TO The legislature. The Sc
cretary of the Treasury, in his report on
the establishment of q niint, urges the
Z r1"pr"iy OF commencing our coinage
"thOui seisneurage, or with small
tne. az VIII be better to increase IL
GREATER" he says, eff this shall be found
'xped'eht. than ID recede from too consid-
cradle a difference"
a seigneurage in tie United States will
produce the effect which results in other
countries, from foreign COINS mol being
aiiowed 10 be current. II will cause the
nauosai com 10 be more valuable al home
man abroad. 1T viii prevent IFS being
melted or exported while other coin can
ne procured, aud may thus effect, I'm some
degree, by an application to the interests
"l me citizen, an object which the penal
PROVISIONS OF other states have been veiy
unsuccessful I'M attaining. Ii will indi-
Iec'iy exclude foreign roin from circula
'oh, ana mus make The Quantity and
value OF the coin which we employ more
uniform. 1t must be considered. how
ever, as principally recommended nv the
Character and amount of cur trade 10 In
n'a, ana II viii be remembered that this
uaoe had been scarcely opened at The
psrioa OF Mr. tamilton's report.
~ asmail seigneurage be imposed upon
ioe silver com of The Unired States, and
40 other foreign coin bat the Spanish dol
Tar be allowed 10 be current. il is proba-
Die that silver, from the same countries
ahd 10 The same amount, would be sent
10 me mat as II there were no seigneu.
age. without seigneurage il would be
sem only when 1t was wanting for the cir
cuia'ioii OF The country; and il would be
as valuable TO the individual, for the pur-
pose, after The duty was deducted. as if
mere were none. The mint would NOT.
III this case, receive Spanish dollars. and
IL does moi now. The banks would have
an OBVIOUS interest in converting all their
co'n inio That which would be least liza bile
10 expectation. The India merchant
unable after short time to collect his
cargo 10 advantage from the circulating
hlDney 81 me country, would prepare his
Europe. Neither this regulation. hove.
yer, or any other, will retain in The conn
Try quantity OF coin disproportioned TO
the amount of property which il is en-
pioyea IN exchanging. IL will not pre-
vent Inc perpetual Punishment of the pre-.
eious me'als, " paper not convertible
INFO specie is supported by law or public
opinion. 1t may indeed well he question
"a whether sound circulation can be
obt&lhed with an amount Of bank paper
as large as we have had, even al periods
subsequent 10 lie late war, and whether
NE ahouutcan be permanently diminish.
ed unless tbe present bank capital of the
'ohn'fy De reduced. But these questions
40 Hot iaii within the province of the
ophhitee appointed 10 report OH the laws
which regulate tie coins of the Uniled
STA les, and foreign coins"
u tar exposition of Tie effects Of a
seigneurage upon coins, il must be adj
Ini'ied thai, where If is exacled, coin will
De generally, but not always, more valua-
Die man It's weight III bullion. While.
thcn, Il Is believed that, in the u. States.
" would tend TO make the value of orr
money more Uniform, il is not denied
'hsi an opposite result NAV sometimes
and. where tie seigueuage is high enough,
10 make II aresource of government. NAV
often be produced by it.
a nation which employ both gold and
silver as IFS legal money has an addition
al iHducement to those which have been
mentioned for establishing segneurage
OF one or both metals. The relative value
OF these continually changes and small
change, which, without a seiyueugare
wouid make it the interest of the mer,
chant 10 export the one aud import the
other, viii moi produce thai effect ifthere
be seigneurage upon iIIe HndeTyalucd