The Charlotte journal. [volume] (Charlotte, N.C.) 1835-1851, 1842-05-26

Il
aud pfeyenlion'iur their recurrence IN the
future.
THE BRANCH MlNTS.-L0CO FOCO
ECONOMY.
Tue National lntellgencer publishes IN
full the Report made to Congress by Mr..
I Green, from the Committee on Public Ex-
penditures, on the subject of the consiruc-
ton and management Of the three Branch
MINIS, at New Orleans, Charlotte, and
I Dahlonega. We regret that the great
length Of this and the numerous reports on
other branches Of public expenditures, for
/ bids their insertion entire in tho newspa-
pers generally. Blu, we cannot do less
I than furnish our readers with few items
/ from each report. The difficulty is what
/ TO choose, where all is wasteiul.
The Report sets out by remarkIng, that
"By reference to the debates upon the bill
to authorize the establishment Of the branch
minis, especially in the Senate, il will be
seen that the object of the friends Of the
measure, as avowed by them, was TO in.
crease the metallic currency the country.
Doubtless they were sincere in their de-
sire ; doubtless some Of them, at least, be-
lIeved that, by the establishment OF these
branches, gold eagles and hali.eagles would
be 50 plenty that every well.condllIoncd
farmer would be furnished with a long
silken purse, through the interstices oI
which this species of hard money would
glitter but it was alleged by the opponents
Of the bill, at the same time, that the met
talllc currency would not thereby be IN.
creased TO the amount of dollar, and that
the coinage at these branches would be far
more expensive than at the principal mint
at Philadelphia, which was capable OF coin
ing all the gold and silver likely to be min
ed III this country or imported from others.
4 Facts, which we shall show in this report,
prove these allegations to have been true.
1t Is shown by official Reports from the
Mint and the Branches, that the coinage
for the 1 wears before the establishment oi
the latter, (say in Is3i-5-6-7) amounted
10 S2l,I2I, $50 at the Principal mint a.
lone; while the coinage at that and the
three Branches has only amounted TO Sl0,-
j67 ,253 2S, during the last years, (say
! Is3s-9-iO-Il.) The coinage Of the wear
ls4l, was only Sl,30I,l9s 81.
The principal mint at Philadelphia, with
all It's machinery, fixtures, ground, encIos-
urc, paving, sc. cost S200,I30. Aud a
beautiful establishment it i, as every one
who has seen. il viii admit, H.
>.-.~,u7 Drancn cost Tor building, machine.
~, sc. s32G,64s II, or sll7,42s II
more than the principal mint at phiIadeI.
phla.
There has baen PAID out Of the Trcasu-
ry, for the
New Orleans Branch, SJJi, 40 81
Charlotte Branch, l3s,27S 80
Dahlonega Branch, 29,los &C
Total, ss22 1877 ~
For this immense expenditure, what has
been the reiuml The whole coinage OF
the three Branches, during the four years
they have been IN operation, has been 81
s-i,70s. So that, thus far, every dollar
coined at these Branches has cost the {. >.
twcniy-elght cents three mills and lrac-
ton Of mill, more than It's value when
coined. CHS IS paying dear for the
whlstc.) The actual cost Of coming the
same amount at the Principal Mint would
have been little less than Ia cents per
sl00 or one-seyenlh Of cent on dollar
instead Of = cents.
Il Again: The Director Of the Principal
Mint says, that, as that establishment Is
competent to com much more than all four
have done, and the same hands are neccs.
sary whether in full operation or only par.
tally employed, the additional expense Of
coming the above 81 ,SS3,705 at the Prin.
cipal Mint, would not have exceeded L..
600. 30 that the same amount might
have been coined at saving Of sSls, ij7
i ~.
The operations Of the Branch at New
Orleans have been regularly suspcaded
every Summer since it went into opera.
ton but SO far from its expenses being
suspended, they appear rather to be 10.
creased, for the committee report an item
paid out Of the Treasury Of 1915 for j. l..
Riddelfs travelling expenses during the
warm season
The " incidental and contingent expens.
es," Chat omntnm gatherum in which every
species of extravaganza is usually incIud.
edo of the New Orleans Branch, have
becn,-
IN isS5' SlI,Sil II
IN ioo3' 26,js3 II
IN io4o, 81, I35 80