The daily union. [volume] (Washington [D.C.]) 1845-1857, 1850-05-25

tually postponed all other subjects tor thai purpose, he
would have 10 object 10 the further consideration OF u
resolution. il anything to be said upon IL for how
brief the debate might be that would arise upon IT,
II one person said one word, another would want TO say
another and thus the debate would be extended.
Mr. WEBSTER said that he had one word TO say on
the subject before the vote should be taken He under
stood that the honorable senator from Maine lMr.
BRADBURYl was Indifferent whether the question was
taken now or at some other time. He (Mr WD
preferred the latter course because he proposed 10 say
lew words on The subject Of tie rights and duties q !hs
executive departments OF the government, upon which
the general character OF the resolution had direct
's Mr. DICKINSON said hat in that case he would
that the further consideration Of the resolution be
postponed till Tuesday next l2i o'clock and that il be
made the special order for that time.
The question being taken upon the motion, 1t was
Mr.. SEBASTIAN gave notice that he would on To-
morrow. subsequent day, ask leave TO introduce
A bill granting to the State of Arkansas certain lands
for the completion Of the national military road from
Memphis to st. Francis river, and to surrender the same
TO the State of Arkansas;
bill for the relief OF Mary Tucker
BRANCH MINT OF THE UNITED STATES.
The Senate, in committee OF the whole, proceeded
to the consideration Of the bill 70 establish branch OF
the mint OF the United States in the city OF New York
The bill having been read, ESD
Mr.. DICKINSON said: One of the primary lessons in
commerce teaches that nations mint should be located
point where the most metal requiring coinage is re-
ceyed, and the most coin dsbursed. The circulating
medium in the commercial. like blood in the animal
economy passes rapidly from the centre to the extrem
ties and returns, and is again dsed through the sys
tenn, giving lie and animation TO the whole. The great
commercial centre upon this continent is the city OF New
York and if not disposed TO listen to the oft
repeated and urgent prayer Of those who pay twohrds
of the enormous OF the government into the
treasury, we should not SO far war upon the laws OF
trade disregard the interest OF the whole people OF the
Union, to refuse what is clearly demanded by the
highest commercial considerations. The erection OF
branch mint at New York has long been desideratum
ma n
in the financial policy Of the late administration. In De-
cember, 1885, Mr. Polk, in his annual message to Con-
gress recommended, its establishment as follows:
branches has exceeded $40 OOOoo5 This has consisted
chiefly In converting the OF foreign countries The
York, and branch were established al that city,
all the foreign coin received at that port could at be
the amount recolned would be much larger Experience.
will circulate extensively currency among peo
pie The important measure Of extending specie cir
culaon both OF gold and silver, and OF dusing among
the people, only be affected by converting such
coin into American coin.
Mr. Walker, the late Secretary Of the Treasury urged
defeated occasion by connecting another proposed
measure 10 the same bill and another at the close of
the session, BY insisting upon the rule which forbds the
reading OF bill more than the day, except
BY unanimous consent In the able and final report OF
Mr. Walker, in lS4s, he his former recommends
tons of this with force of argument which it
will be found difficult to answer, and from which-it
having covered nearly the whole ground of reasoning
ally:
renew the recommendation contained in all my annual
reports for the establishment OF branch of the the
United States the city of New York That city, great
com merciai metropolis is advancing to It's ultimate po-
si,Ion, important the whole county emporium
of universal commerce, the centre of international
To attain this result we must secure for our great EN- po
rum. In competition with foreign Cities the command OF
her due proportion oil coin and bulon Now II is clear
where buill0n cannot
take place. this cannot be accomplished America the
In extraordinary quantities in our own Union and 70 vas,
extent In countries adjacent nearly all this coin and
Great Britain, being chief in aiding
that country in mantaning her command of the business
OF the world BY steamships and by exports of her
products and fabrics, she accumuates and bullion in
ana io their coinage and reconage IN
commercial emporium we have mint branch
would command the commerce OF ali nations Il must
be through some American commercial emporium the
tory trade demonstrates that some such great point
Is Indispensable enable any nation 10 command
some one CITY, instead OF injuring other cities or
parts Of the same country, Is Of immense benefit
of the foreign commerce OF any nation, amy more
than there can be two or more centres of circle The
TO the trade OF the world There be but such
IRE Tor the world and bui one for each nation, which, p
this country, from natural causes, be New York.
where the competition must commence with foreign
cities for the control OF international commerce. Now,
as the commend OF the specie OF the world immense
benefit TO whole country, and only Secured by
making OF our cities the Of universal COM
mefce IL Indispensable in this great American
enterprise that specie and bullion should be invited from all
the world New York-not by any unjust advantages but
giving 10 equal facilities with other coinage
| and recoinage.
Ills not oI New York merely, or for lie commerce. that
this mint Is desired, but for the OF the whole Union
The the goods and products the Union
become the sorehouse OF Its specie Where commerce
and goods there the value
be also, and there, also, should be every facility which
mint would give for Increasing these circulating values
and for bringing them into immediate and active la
form which might be desired II Ia in vain 10 say that
the specie or bullion brought by our commerce TO New
York, can be sent 70 distant point, where there 10
mint, with bat little delay, risk, or expense Ii Is
clear there be risk, delay aud op-
Grating as tax on the business OF comnierc al
emporium, and TO that rendering unequal
test with European cities Tor universal commerce Coin
age and recoInage should be Immediate without any
risk, expense, or delay and 1t might be said
CARDS merchandise. with nearly the truth urged
IN rcatioa to specie, that IL would be injury the
commerce OF the Union light and costly articles would be
sent a. butfug expense, risk, delay from New York
some distant city there be stamped naked or labelled
and then returned TO New Yors for sale and distribution
In the general markets Of country the world
Il seems 70 be forgotten by those who present such argu
ments, thar In commercial Capita where bushes
To the amount Of millions OF dollars Is transacted from ten
10 three ocock how important time where delay
day. nay, often OF an hour, may dis and
Of business should be permitted change their bullion o.
ofeign coin Tor American in few hours nts
could De done al mint, receive mint
OF deposite, which often might be them the greatest
importance The trade in bullion and specie in tsel
oe great branch OF commerce Indispensable in the trans
acuon OF business. and especially
nhchoT ehlss 10 great extent in New York, lin
eo IN onnsha It's benefits TO American commerce and
exchanges by the want OF Now Ii ~ subject 10
expense, risk and delay put form for ing
values thai delay being Itself great OF capital whilst