The daily union. [volume] (Washington [D.C.]) 1845-1857, 1850-05-25
4b.eoa.loo
AT Philadelphia
Domestic produce
Foreign I"
a.343.42I

foreign cities for the commerce OF the world and since
New York is and must be the commercial metropolis OF
this continent we should place every facility there to
able the people OF this Union to compete with their vigan
rivals abroad Thequeston is one of untold millions to all
classes oil industry well commerce, lar above any
comparatively small present expenditure local
desires, fears of gain or loss II is demanded by
great commercial necessity, beneficial alike TO the whole
and alike TO all classes OF the American people We may
speculate and refine, and legisae for the forcing pro-
cess and command the currents OF commerce to where
local interests may desire or caprice may dictate, but the
rewards will be arrangement and disaster. We may IA
tally obsruct their natural channels, and cast the all
vantage upon rival but cannot successfully
transfer commercial transactions from the point where
they centre to distant point, where they do not This
problem has been long since solved and no wise egsa
tor will repeat the experiment Legislation suited TO the
exgency OF the times is demanded by the passage of the
bill under consideration as great public question bene
cal 10 both government and peoples Strengthening the
hands OF boh and providing against reyeses and revul
slons
Mr.. BENTON Mr.. President thisi is bill with which
we have been long familiar. gave notice. that it might
be printed at early part OF the session, that should
offer an amendment to establish another branch at
another New York-the New York Of the Pacific San
Francisco now ofer that amendment.
The amendment was read by the Secretary, as follows
Al the end of the bill. add the following,
mini Of the United States be established in San Francisco
California; for the coinage Of gold and silver and for the
purpose Of purchasing site. erecting suitable buidng
and completing the necessary combinations Of machinery
for the said branch the sum Of three hundred Thousand
IL the treasury not oner wise appropiiaed A' ',
SEC 8. Aad be IL further enacted That temporary build
ngs shall be procured erected immediately Tor carrying
business oil said branch mint, and the following 9TH
ss, ssa 2 ss ana s Of the
superintendent treasurer, assaye one melter
shall engage and employ many clerks, and many
coordinate workmen and servants shall be provided for
a. ioiowsi
To the superintendent, and the treasurer, the Of
Ave Thousand dollars each TO the TO the meter and
refner and the coner. the OF four Thousand dollars
each the clerks the Of three thousand dollars each
to the subordinate workmen, not exceeding twenty such
wages and allowances customary and reasonable
according to their respective stations and occupations
fifth sections Of this shall be held and taken be
applicable the said branch San Francisco, in the
branch mint shall be the place OF de pose public
moneys collected in the cus,o-house at San Francisco,
Treasury may direct; and the treasurer of said branch
mint shall have the custody OF the same and shall perform
the duties of assistant and for that
shall be subject TO all the provisions contained in ACT
and for the collection, saekeepng, transfer and
disbursement OF the public revenue, approved August the
the OF The branch mint New Orleans
Sac 10. lad BE- IL further enacted hat the assayers
slai be appointed in neds,oy, ana shall peor@ such
duues IN assang and fixing the value OF gold IN grains
.sr5sa BY the Secretary OF the Trsasay either for Ddps
uas, companies or the governments and that the sum OF
Otherwise appropnaed be- and the same /. hereby appo
Praed for eayng the Of the said gold assay for
the fiscal year ending the Both June, 1851.
Mr. PEARCE. The senator from New York has pre-
scented general views in favor OF the bill before the
Senate. wish to suggest few general views in oppo.
sition TO the measure Ii this project, and
the United States were about to establish for the first
time mint, should favor its establishment at New
York, because II Is the great commercial emporium OF the
country and because is the point at which the precious
etas most largely received On examining the ques
uon however md very PLAIN and gapable reasons why
we should not establish mint at New York. take 1t
for granted that the purpose oil establishing mint any
where is connected with the interest OF the whole
III IA IN iarf anfan 10 ha IN fnff
execution OF the constitutional duty 10 furnish currea
cy. That question will not be disputed this side OF
the chamber and certainly not on the other sde since
IS proposed that the currency shall be gold and silver
Now, II can be shown that the accomplishment OF this
purpose by the proposed in this hill will cost the
country more than Il will save to individuals. think,
therefore, there can be hardly any good reason Tor carry
ing out the project
My belief is that there is no necessity, no national
cessy no such important personal interests OF the mer-
chants Of New York, to demand this at the
hands OF Congress. believe the mint at Philadelphia
has ample capacity 10 execute all the coinage which may
be required OF IT, believe that the expense OF transport
alton, and the delay between the time OF deposting the
bullion foreign coin and receiving coin IN re-
turn, nconsiderabe that the two sums taken to-
geiher will not amount TO more than 1.-THE OF the ex
pense OF adopting this plan. The whole question has
been examined BY the director OF the mint in ele now
in the possession OF the Finance Committee and the facts
which he states and the arguments based them have
fully satisfied my mind on the subject As to The capa
city Of the mint at Philadelphia we know that some
months ago II did not com ms rapidly as was required
This owing to two circumstances.
In the first place, the gold from California is combined
with good deal OF silver The difficulty OF separating
the silver IRON the gold was SUCH that the refining de-
partmcn OF the mint had adequate capacity at that
lime Tor that purpose. Another difficulty which mention
ed for ner occasion, that boilers and appara.
were old and weak, and part Of the structure 30
enleebed by time and other causes that they could not
be worked up TO what would otherwise be their full ca
pacity In the deficiency bill we passed appropriations
remedying both difficulties so that the boilers will be
newell the structure will be strengthened, and those i'm
provements will be male which necessary in the re-
lining department When the objects for which appro-
prlaons made by that bill carried out the mint
at Philadelphia will be able TO work al is fullest capac.
~, and will coin, venture 10 say, quite much bullion
and foreign coin as will be required We know that in
the year iSi7, when under peculiar circumstances,
great deal OF foreign gold brought into the country
there was complaint of the nethciency OF the mint
When the Lay arising from the circumstances have
mentioned shall be obvated, and the improvements
emplated in the mint made IL will be able execute
double what IL could before At the present time il
cues an immense amount OF coinage. The senator from
Pennsylvania informed yesterday that the amount OF
Coinage during the present month would be three millions
oil dollars, OF which, 10 be sure, but small proportion
was silver observe by statement IN the paper that
about two millions were coined At that rate, il will
amount TO more than three millions Tor the present month";
at the rate OF about forty millions per year That is
large amount the mint will ever be required 10
coin
Now, sir, as 10 the expense. The people OF New
York complain OF the expense OF transportation. That
expense is but he-oGly aboulhe thirtieth part
one pei cent on silver, The expense OF transporting
gold which is nov always done by the expresses, s
thirty and half cents per thousand dollars and
silver dollar per thousand, onetenih OF one per