Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1819-02-25
on FOREIGN COINS.
TREASURY REPORT.

TREASURY REPORT.
Treasury Department, oh Jonnary, 1919.
SIT reply 10 your letter enclosing a res.
olution oil The Senate, directing he committee
OF finance II lnq"ire into tie expedieucy Of
Continuing III force the act of the 9th al Apr l.
1916, regulating The currency of certain foreign
coins within the United States" have the
honor TO state, that il is inexpe dient TO continue
the SAID act so tar DIS foreign gold is rendered
current III the U s.. From the enclosed letter
from the director of the mint III is marifest
that the foreign gold coins now ia the United
States width current according to the
provisions OF the said act may he reccned
before It's expiration. Until the capacity of
the mint shalt be Increased, II is heiieN ed that
Tue public interest requires that the said act
so far as IL tenders foreign silver coins current
should be continued
IL Is believed, hcwSver, that fsreiun silver
coins should not be continued current af,e r
the capacity OF the mint shall he so increased
Is TO remove the Inconvenience which mi. hi
result from the temporary expectation of the
gnfd and silver coins OF The U. =. According
TO the cnmnunicG ton from the dill ctor of the
mint, about th:ee millions of dollars in silver
can be coined In OHe year. II his CAPACITY
should De doubled, the repeal at Tie law max
ing foreign silver COINS current, might b.
enecied win safety as soon as an opportunity
should be Afforded by such augmentation in
the powers or the mint, TO the holders Of such
foreign CONS TO have them recOncd.
As Spanish mlcd dollars compose the grea;
mass or foreign silver coins which circulate i'm
.
rremdm when compared with The dollar of
the United States, especially for expectation
10 CHINA. 1t is desirable that they should cease
10 be terder as soon as The capacity of the
mini shaii be decreased so rs To recon such
parts OF the Spanish milled dollars imported
into the United States, as may be necessary for
domestic purposes.
The holders of this foreign coin, whether
individuals OF corporations, may then demand
iorit susl' price as will indemnify them for the
expense OF importation. Considering that the
Spanish dollar, in the United States is more
an article of commerce than II standard by
which TO ascertain the value of other articles
that lis value at the same time, in different
parts OF the UnioD, varies from par 10 ten per
cent. it's conceived HAT the public interest
requires dat il shosld cease to be legal tender
as soeD a. an extensive and prompt recoiua@e
shall he provided for.
have t"e hoRor to be, your most obedient
servant,
VIM. II. CRAWFORD.
Hon. JoHN ". EPPrs.
Chairman otthe committee of Finance.
.Uiat gfthe United States, Dec. Is, 1873
Sir: Having consulted the other officers of
tie mini, and deliberately considered The sub.
Ject OF the queries which have had the honor
oil receiving IN your letter of the 10th, / shall
now attempt their answer, without, however
voaciiiI's Tor any very great degree of accu-
raCy.
Query ,st. What number Of eagles aud half
eagles can tie mint, III It's present situation,
coin per day :"
Answer. With The aid of a new foundery ard
refining furnace. which are now nearly COM
pieted, the mirt, 10 its pr esent situation and
coming gold without silver, would he able to
prepare and strike ahoNt 1909 pieces per day,
oil 80 .00O 4 er week, reckoning only working
days IN the week, 10 allow for unavoidable
accidents aud Interruptions.
Qnery I'd. W hat number of dollars" I'd
. " hat number OF half dollars!" 18th. . What
number OF tweniy, ten. and five cent pieces Z"
Answer. Milking silver, without gold, The
weekly cClndscin dollars may he rated atabout
60.CeO (; in half dollars 81 900 ana in smaller
coIts, 100 coo pieces respectively. Aud be, oud
this, which would be fully double of the last
gears coinage, the operation OF tie mint could
not be much extended, without erecting new
building, aud soma additional apparatus for,
IN ONT present Mutation, we are very mach
IiDlted for want OF room, having to reut two
small lots tor oar necessary accommodation.
On the above estimate II may he proper to
remark, 1. That in order 10 be constantly
employed, deposits, WHEELER OF gold or silver,
equal, az tsast, TO two weeks coinage should
always he ~ advance. 2. The copper coinage
IS consdeted as continuing IN constant opera.
tOp, striking at least i00,DO3 cents per week
3. 10 effect the courage above stated there
would be wanted an appropriations for addition.
al "Ofkmen, wastage, and sundiy incidental
expenses, OF about $ 5000. in addition 10 the
estlmaie lately transmitted from lie mint to
the treasury department.
Query 9TH. :" What additional expense would
II require TO coin double or Quadruplc tie
suDber OF silver coins which can be coined in
Ale present situation Of the mint =
nswer. heidr a. respects q double coinage
theansweri - attempted 10 the iOrrgOinggueries:
and for fi,Ithcr extension, us before observed
q new building would DC TcuHired. From the
ntaie-t estimate which present circumstances
will Enable us to make, II is believed, that tie
expenses tor the purchase Of a lot ard erecting
a suitable Building, with such additional appa
raiUS IS nnehi be necessary. wouh amount 20
abs al y - 800 and tiiat nom Tie time Of its
g nincDceBeHi, 81 might bp finished ~ aboaL,
T. Wgh'as. lie cOinage, in the mean time.
leiTg e@fiied 0n at The present establishment
lie lot and ba;ldms vt present occuvied be-
the mint would ptObaDty Diiug from ~ 10
g. 600 dpiiafs
Query 9Th. Have y0u any particular irgor-
niats0nOf the relative value ot co.d AM silver
crrir1 the pre- eat year, ~ France s. Fualandf
.-liaa ne laie rnuiage ~ Eugidud raised the
IsisliNe value % those meidlsf'
A4iswer. iu reply 10 Use above I world beg
leave 70 reiar yoH To the enclosed copy of au
editorial essay. faton from LOu.lui, ptpcr OF
tne 22d OF Apr' last iG which The subject il
tr4ied with stt-i gfNp.ciuly, aud 10 Which
have htlse 10 ADJ. The sial.lnrut Ot lscts,
Huw ever, given d. tbs essay COrruDcrsirs ~,
observation which, had ilr honor 10 NIKE
curing tte lat sf7slsa 90 Caugr.ss fn rly.
i-oWuNee. i"ct cra4HaiiO "a TIE committee ct
Wuss and titaHs D. rrPl, 10 q qrcstt0is Nrith
az Wsi ttiae u- vas tieaa,I 10 piu ,ose, 1, bicl
J hvle tttnsCIibe.
S.-ets ~. .-.t as Ie..dn,.tsi Sac laws