Wheeling compiler. [volume] (Wheeling, Va. [i.e. W. Va.]) 1829-1831, 1830-02-10
s. 69l,530 90
25,266,077 80
Total amount ofgold and
silver coins, 1885, .607 90
Copper coins, about 539. $50 90 /

Copper coins, about 539 $50 IN
! The coins of all kinds now in the Uni
ted States, are estimated 10 amount 10 a
bout tWenty.three millions Of dollars. o
this amount, it is estimated that about four
teen millions consist of our own COINS
! about Eve ;nillious of Spanish dollars an,
4 iheir parts, and about four millions of VII
yrious oiher foreign coins.
OF the gold and silver coins issued by
our mint, amounting to nearly thirty. fom
millions of dollars, portion not exceeding
fourteen millions of dollars now remains IL
this country, in the form Of coins; and this
portion consists almost wholly Of The coins
of silver.
Our gold coins are Withdrawn from cir
culatlon, chiefly by the operation Of par
ticular cause, not nov discussed.
More than one third of our silver coins
have departed from circulation.
Almost all the early silver coins Of our
Mutt have disappeared Our silver CONS
now current are principally those issued
within the last ten years; and OF these, the
greater portion are ofthe most recent ennis
Sions.
Our silver coins are, to greater extent
treated az bullion; and whether they are
converted iuto bullion, or pass into manu-.
features, or exported, they are lost to the
community as CONS.
The diminished Spanish coins are nei-
Their converted into bullion. nor exported,
nor used in manufactures, & they continue
ia circulation.
These Spanish coins. circulating as
equivalent 70 our own coins oflke nominal
value, are chiefly the instruments BY which
our own CONS are Withdrawn from circula-
ton. BY means Of these Spanish COINS
Of very reduced weight our own coins of
fall weight or very slightly reduced, are
procured and converted into bullions or
used as bullion in manufactures or for ex-
pnrtatiOn. The inevitable consequence Of
COINS current at the same valne, while they
arc not Of the same weight takes place;
( the excess of intrinsic value Of our own
GUNS, over that ofIhe diminished coins,
is gained by somebody; our own coins d..
appear; andihe lighter Spanish piaces con.
tlnue in circulation.
Some other causes have slightly contr-
bpted to withdrawdraw our silver CONS
from circulation; but these minor causes
are inadequate to the magnitude oflhe eff.
feet which has been produced. The silver
coins issued by our mint, have exceeded
the amount Of all the CONS now in the Uni
:ted States and the portions Of these all.
yer coins which has disappeared, is sum
greater than the amount Of al the foreign
coins now in this country. An amount
not less than eleven millions Of dollars Of
our silver coins, has been Withdrawn from
circulation; and the concurrent use Of Span-
ish coins inferior tooUr own coins in weight
AID intrin-ic value, but OF equal in value
currency by tale, has been the principal
cause Of he fact.
Though a large amount OF our coins has
disappeared. the increasing emissions Of
the mint would sson supply their place If
our own coins could remain in circulation.
Our silver coins would remain in circua.
hon. lf they were not necessarily displaced
by diminished Spanish coins; s. while this
cause shall exist. it will be impossible to
retain any great quantity OF our silver coin
IN currency.
The injury already done by these Span.
ish COINS has been great; aud If they could
suffer no farther dminution. they would
continue TO produce like mischief in IN
ture. But these coins must become still
mora reduced by longer circulation; and
AZ they shall decrease IN weight, they will
more and more Danish our own coins from
circulation. As diminshed COINS they
cannot be tolerated.; their currency is in
compatible with he due progress and sue
cess of our own system of money; and It Is
Indispensable 70 the preservation ufour own
coins, that the currency Of these Spanish
COINS should cease.
To depend upon foreign coins for our
ordinary domestic use Is unworlh, of our
selves and our condition We have all the
reasons of policy which induce nations to
establish and coin money for themselves;
We have all the means for coming our own
money; our own system Of moaey, our
mSt and our own coins, are no longer IN
their infancy; and the Just PRIDE Of national
character should now discard the foreign
COINS which were from necessity adopted
and used BY the county IN rs colonial
stale.
The currency of those Spanish coins
must now be abolished. or al least be
checked. Az these coins are WIDELY diffil-
Led and cannot be Immediately replaced n
circulation by our own coma, II would be