New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1848-12-12

vast extent ~ counrifs - scent YET hearty I'll ~,
con sui hu'inu j. diverted o aIfcr crntrfs A. i.
p-csliy % Great Britain. being Of The ch4f In.f-
rneuts 10 siding thst country 10 u1s'nts'rnl hsr ca.
fnsrd OF the business of ne world BY .'earstB.. -
~ exports 81 her own products snd sori. 80 sc-v
mul-fes coin AMI bullion I'M London. and ploris..f,
their coiua.s nni rrcO.nage In the east I'm. -.
~ithcai expense aut Yri IN our own co,ns-r-|,.
emporium have uo Mint ur even grs...
Mint ior the important process 81 co.ns.e % n.
coinage ID would command fhr commsrr. u
al nations. 10 mus; b. through srmo Ause-.rsn 60.
mercisl emporium the great center of cgr oen TO-
and business The history ui trade fcuoastrst. H..
some such great point IS ndisf ensste % enable a.,
nston % command universal commerce snd ia.f -
concentration -t some one city instead nf lfl.rI,.
other cities parts of trf sane couutry is ID 1,1u
benefit tn At There csunof Dol tsu ~ more snsor,.
crnters of the foreign commerce 0 abs one usfl1 -
more than there can oe iWo Dr more c,nt-s oa eres
The same principle oi thc center ol tae trste OBJ a..
ton alp.ies to toe trade 90 ihe wogt Trs-s - h
bat such centrr for the world snd tai ouc Coz -
nston. which m this country. from rstlr.i css...
mast BE- New York. where The competition must -,
commence With foreign elites or thf control of .nfr
national commerce. Nos. The command u. o. .8.r..
the world - of immrnse bfrcri fo cur Whole COZ,
try, ADD can only b. sic-rrt hy mssig oUc a our ,
cities thr center ~ uniserssi commerce o ID in-.
pens bic t1 success in ibis lrra Ame a. sntern..
that specie sni l'Ul should hf iuri.ti fr.u, d. -
world NeN-iork noi hy aDy unjust advsut.s.. ri
by giving O. 10 equal facilities sllh oar other c. f
c0ius-c and rc-roinsse.
ltis not Tor NrN-logk merely. ~ iIr its ciar,.-ss
that IhIs Mint is desired at Tor che hcnft % ,,.
whole Union. The storch1usc of i1e goods srf d.,
duet. ot the Ju'on must oocone iho st1fehoese a, r,
specie Whore the commerce md sfnis are there n.
representatives, 90 thrfr value must n' ss1 sni fha,
sso should PEI every facility which hIui suut ,i,.
fnr Increasing these circulating fsurs, sod fOr tunsnt
them into immediate snd scife use u -ry form eh.-s
might Boz desired To - iu vain o. ssy Tat he spec.
or bulon brought ~ our commerce OBJ Nrs iors. "a.
hc sent to dsaut pouf where there s s. rt VITA a.
ili,s delay risk expense 10 Is r'raf there mas 3.
risk delay sni expense operating as tax ~
business 81 our Commercial Emporium ani 20 thn
extent rendering unequal her contest aka tgmgsss
cities Tor universal commerce COINAGE fnt rf c.r
sge should bel immrJiste without ANY ri.H expense r
DELAY and 10 mignt he sad ~ regards m"r. tsai'.s
with nearly the .aue truth urged n relation a.
sp.ci. that u would be no injury fo ihe commerce r
the Union DO light and 'ostiy irs 1913 he .erf
but uiiing expense. rex or d'l-y from StN lofkt
some distant city. there O. b" srmped usrssi 10 .
cred and returned o. NrW lufN iuf sale sni tistres
the world 10 frem- o. b. forgotten hy tnns. eho ~
sent such argument. that great commercial cspr.
where business 20 the amount N millions 10 dollar.
Tran. acted from I'D % O'Clock how Important time J,
where the delay ~ day, nav p't'n IN hour may be-
most disastrous ana change the balance of proei o.
los. Merchants and men of business sn0uh b. u.r
mitred 10 exchange their huInu or iofrigu cOin iof
American Ia lew hours moments. is esud b. done
u Mnor receive - once Mint certlnCs te, Of ispd.
H. which often might them ui fhr sresissi iug1f
tsuce The trade m bullion and specie ma itsli one
great branch of commerce md pcusa1e in ius fsas
-cticn uf business 4ni especially OF international
change sready exist. g. a great extent 90 New YORK
bat limited Ion difasins 10 nenenfs 60 Amrlitln con
mrrce and exchanges by the want of Mint Non
Is subject o. eXpeis. risA and Delay o. pat nWa
form iDr circulating values that decay hs'nrifseifa
great loss = capita whiir the forgu cUir caissnl
oh DENOMINATIONS unknown - the great ID. ci luf
people u almost useless f0f Toe purpusc O selffl c
culsfiOn 10 IL the rspiiiy ~ Che crculston u con
that gives a. - chief value ana sccumulstgs cagts b.
ala lNf u
Eagle or Halt E-gir and other decimal coinage nigh,
in few months perform more OF the tuntuous ~ mo
ney. and pass more rapidly through greater variety
OF hands than II u IA some foreign ard enknosn
coin. which would not circulate among our peop.s-
Hence II y that Mint ~ Neslork - give activity D.
our specie circulating capital by converting At cnco
into American coin would be ~ vast imr1iarce'o te
whole linton
Credit. when based On real cspts is hi .hly b+rsee
O. the commerce ot hs country anf Specie h onem
the main pillars upon which CREDIT can frYose -sin -
surcd confidence and Ne must hove ihs' specie ~
bssi. OF such Credit 70 our Commercial Emporium
10 indeed desire to MAKE u the center 81 insfts
uonal exchanges.
With a view g. suxmen, the circulation OF or osn
coin IN own country this Department has arrested
Tar az practicable the payment Of oreisn Goa osi
~ ihe Treasury, requirngtt 10 De- feconei into amer
coin by which nesDs u has been enabled. o,f~ern
the 1T March -4j and the som October isis 10 ron
a. our minis per table h the sum OF IS lll ~ y
which from the let az March l-iJ, 90 the 1T oiksfth
coined In % years preceding from 1873 10 l0 IN
elusive. But while the Department viii have eoinsd
from the lst of March. lsfj, ~ lst March $50 NOR
than 5000 600 the smOlnt would have beto aug
nrntei g. the eNtrnt a several millions a i0Isr
every year b. there had been branch of The mat a
the City OF New-Nork This l. proved ~ toe si bat
OF the foreign coin sent from New ok md ohef
points 20 Phiadt phia for rc-C0iuege. has betr hat
portion which received from GOycrnment Doe
and transferred sinly not BY the people mcrchnh
Out by the order of this Department. from the sef.
Government depositories, and but lille cliu comP'n
lively has gone from New York trsnfmitisd volns
ry by individuals for re- coinage 20 Philadelphia b
dividuals will not 10 any great extent subject h'w
selves 10 the risk expense and dslsy OF tins pfoeen
whereas the whole a the coin sad bullion. am9lnt1.
% many millions OF dollars that comes % S8w i0fkV
very large sum, would all be- changed into Amgio"
coin, II there mint Al mat city Having O.
branch AZ the great center Of American commerce or
mint notwithstanding the great ability sud n1fiJ
with which is business Is conducted 20 Philadephs'
not 10 the extent t should be-. the mint oi me peoP
and convenient Tor the coinage 81 their bullion ~i
ilrc-n coin, and especially the large smguDfs bfougf
By IN grants into the Union. estimstef ~ ,-nJW
per annum but i used chiefly. o. isr regards oh
cities for that II the Government whereas t oashib
3e the mint Of the Government and people. sni ig o.
benefit of both, and can only fully become no tj ~
location ui a branch as recommended The snDuni~
foreign coin rr-coined 40 Philadelphia fr0m The IT,
March, i-i5, % Jlth November. l-l- tfansisrs "
icrei GA deposits b. olhcers oi hi, Government y
rfcffd ~ me was per table III hereto aunftfn' w
ifj 81 0en. nearly equal % the whole remaining coo
age there during same period, inc ufng plate aud PEI
ion
The branch mint would be- moe, imp0f,sni ~ s1sl'
-es o. the operations of the constitutional Treasury ~
TO- present Assistant Ira Il NeWf0fs w0udihp
become tee Treasurer uf Tie Branch " ut and psi0im
10Th functions precisely A. - nov done ~ fh.s1eph
,nf Nce Orleans. saving the expense 0t an incfrss
lfcers preventing double entries and payments ar
simplifying the operations % the Government and =
he Government and the merchant the li.s mi COZ o
ne double custody, and transfer ffum the collector
hr Assistant Treasurer would 5e entirely saved
From the at January l-iI b. 3Jtn November, l-h
be merchants of New York paid % the CoIectof "
ahr J.. for duties the sum uf e., ifUi4- 81 .n sPcN
being tao thirds ~ the sggre gate payment 10 -p@e "
futle- in the Union. ist while The Borernmsnfrf
sct.d from these merchants tbs Immense sum asp
'ie for duties. t Refuses them even . branch u ~
Mint where bullion can be- coined or foreign con r.
'oned the mere establishment of which <oaii snf.c
here 80 mach specie. and render the ysymeet 4 US
arse amount - much more essy
The amount u specie received by toe Assistant li,s
Irer ~ New York. from the l.t January l-il % ~
November, l-f- So p so and tn coin iis1sf'
BY hn. there during the SAM period. Sss sij 500
nssing 40 aggrsgat. Of eii2-lfoi- Ter ss9le u
Win Branch Mint =, Ner York. to- tfansscuonsd
business would be- undistorbed y the operations Of 10
Constitutional Treasury
Ia true that even s.th sucn = trarra there. N
collection 81 duties 10 specie ao4.l opfrste chrfs
ank- gentle ADD fnOsg usei4l cheek restraint.
heiE over ssues and mitigating % not prev, ming ino'
eFlisons which are cure o. eusu, when ne b.'nf''
fH.aN ..r. a..