Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1821-03-01
REPORT ON GOLD COIN


REPORr ON GOLD COIN.
FPfo't If The C0mnuiee on the C,irreney on the
erPsditndy Of 'acreGsiRg the reisiire raiue Of
,he @"',i hrcVtcr 10 ts coined at the mint of
the United St.teS.
House Of Representatives., Feb. ,, 1885,.
The committee who were objected TO in.
qni;c INTO The eNpeti,eucy OF increasing the
relative value Oh god hereafter TO be cGins d
q, tie mint, have attended TO that subject
.au,i beg lrsve respectfully 10 report:
hal they ave of opnion the value of Amer.
ican gold, compared with silver, uupi it 10 he
somewhat HIGHER than by Lave at present es~
'ab!ished. On inquiry, they fad that goid
COINS. both foreign aud of the u. States have
IN srea, measure, disappeared; aud from
the best calculation that eau be made thct g Is
rca"au 10 app'ehend they wili he whniy ban
iNbed irom circulation, aud il nnnbt not 10 be
ihA''ef "i surprise, under our present re-
gu mons, suHi this shanid be the case
khere remains no lou: en- any doubt lbat
ihe gold ceins OF the United states are, ii
cur laws, rated nj value lower ihan i'll al!
most "hy olhef county in comparison with
iiet OF silver. Iais OCCASIONS the gold Ia be
constantly selected, when il can he oatarned
IN pr frrence 10 silver, whenever required for
remit dncc from this 10 foreign coun Iies (; and
al the same time prevents those who have oc-
rason IN iainit 10 the United States from
dong IL ia gold Hence, there is a continual
and stea''> drain OF that meSai IRON THIS Coun..
TRY, without Any correspondent, return which
must co"tioue while there Romans aAy of IL
coniin' a 10 small guautites, aud from conn
uies from whic1, nothing better Can be OBJ
Ia,ned.
Flere have been coined 1T ;he mint of tho
tniIsd Stats nearly six millions OF dollars IN
god. IL Ia don btiui whethera any cousdcra
o'e porIinu OF At can. AT this lime he iouBd
wiihiH Tie United States. II is a.cei,ained
'" oae OF our psincipa! commercial cities,
qti'e ia tue 'lcibiiy of the mint that the O Id
ceiI, IN an Office of GiScoint aud JenosiIe ot
.he Bank of The United States There located .
~ New. 1919. amounted to SlG5 coo and The
s'iVer roa TO 5il9 600. --Ihot, since that time.
Fhe sliVeF CON bas inci etsed 10 500 Oc0, while
fhe goid coin has q iEliuished 10 lie suu of
81 200, ore buuoreu OF WHICH Only is Ameri.
ca". Ana II Is stated iNat the vaults of ti,e
state banks 10 the same city, having capital,
in the aggregate IA is believed O. EeatIy
eight millions, exhibit a similar resnit II in
scarcely 10 be dGnbted, thai, on examination
III ijie other commercial cities similar add.
Iicial proof wOuid be furnished.
no" becomes question of scrioni i.1Dort
20 iie decided by The nation. whether a fyold
cHfrency be at al! deSitabIc or wbeihtr ~
should wholly eive place 10 silver 8N some
;, silver currency is deeaed The most eligible.
lNey contend, that our Ci: culatipg metallic
currency shonld be ponderous and mcnuyrni-
cot OF transmission; that il wonld, In such
case, re'ndiI IN The country aud stationary
-" the Other hand il is believed, b. yorr
committee. that more portable currency
may he, Gu many accounts. ard, IN many In.
Stances must hp n!acli mere convenient and
"a "cme cases Absolutely necessary. II cannon
re denied, that the lighter ana smaller line
currency, az proportion 20 its value the pIeat-
or WIZ be the accommodation IN the uegoiia
ti"nS befweth ihc great extremes of the ITpi.
on. In proportion tO this facility the urira
81 exchange VIII be lesseued (; commercial
transactions wcald thus be carried on M an
enhanced Proti 20 al concerned Moreover
III iIme OF war.t will never fail 10 bccoms
requisite q make nse of specie IN payments
a., "a Ltnh'ancSs aud these will he dcinand-
49,, .!.hos' eNcin,iVtiy, at TIE "N'rrme bo, deis
ana i'oniie!s of The Union. Ia such case eoid
iu,Hishes medium which will moi onI, Inc
lIgnt ahd convenient, but which eau he trapsT
'Hi,'Fd WItH secrecy, thereby avoiding the
,n1NS i'r lirnI % var and cominofon. Those
VINO carry IHer rccoIlectiohs back to the in
r<itbiS 81 tic late war, cannot fad of bein,
'oIcibiy Impressed witIi th,s idea
var empire is.wideiy extended and hocorn
w. 'u9fe 50 a"d' at The same Time. sparely
N"t''ru' Ahe tra'lSIDis don OF large su,,,s o.
pefiAlly IN time Ut war, if in poudetous ill.,,
must ne extremely Inconvei,ient aud nt,o'
umes attended with great danger. IL soulJ
Het'; theieiore, that as eafrency. the gold
cor" n"S, ~ tins country, manifest atlvsn,sges
over that OF silver
, Gi'i tbefe IS anotler par'icnlar not uuvcr.
NY u consideration. We nave bel,,tr stated
'""' ,hs goa coins are worth, in Isicign
'Sh"iIi@s, mJte, IN cOupai iSOn with siIvpr
thAu in orr n1Vu. The aVrfag. of t,,,s i,,e,.'
ed yaine u bcIiegeG 10 exrecd six.tenths a.
u"iim ~ rvrry fifteen dollars. la Sna,n .nd
- '<dis iNFtp h"it eagles are worth sivtn.u
"oi'HfN' &" Cub1. Ses eHtscn 80 the Wrst Inc
uis5 seoefauy. sixrrn ~ England fifteen
and ore hth iu Holland. fifteen; and in
I'a"ce, t'teen I"h a nat lhe.e cAlcnla,iona
my 'nl bs p,ecisrly a4 SiateI, but ate believs
81 10 he Hcafly accuiAiq.
In the Omitted Sfafe. before tho estsbli.h.
mth' o. 'he present. goVprGncm IL has beIs.
lr'0tc uPch A'reriaiuci hy co nm,t;er N
toH-iess, ih"i by custom. iitc galue Of -old
lad GreH considered ~ tantyalrnt IN zIor,
iI'era HnH siN- ,cHh's Of its y eIsiit ia liver -
ms. uii-out sOGbi arose rforn tnci,o Ills
To- be ihe average OF tir different ,Ignes
tfios. -" ''""'
WY il was thought ptoper. on estsLliJ,io,. !
vac Mlnf oi lie UmicG STATE, ~ redure Inn.
VhI"c TO tiltee" Tor OpG, IL /, not Vow nlsieftI
10 inquire - ~ sufficient e. Know, ftoto nm
h'Ppy r%lei 'coco, that IFS itndcncy il TO nd |
~ 80 = g0ia cifFchcy, aad leave as noiinn, J
bnf siiVff. Inns
f'ie n"icbanis. IL they have occaSion 4,
iHp0'i sreCir. aud cabaDi Obtain SILVER. are
f"'|r' iicd to lHPgft gold, al d loss Of nam I
Two 20 ten pr conf. u ihy have rerji,
'ertt 60 hidlc idry rili, Z. possible, cxch1nre