The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1850-09-25
Branch Mint. View Work.

lives INQUIRE into the expediency OF modifying
the existing laws establishing mint OF the United
States provide for the prompt coinage OF bullion
and gold dust now accommodating in the United s:ae.
seeking the niots Of Europe for coinage and that
they have leave 20 report by bill or otherwise re-
spectfully report
The constitution OF the United States provides that
Congress shall have power TO coin money, aud regu-
late the value thereof aud ~ foreign coins
In conformity WIKI this provision of the consti-
tuition Congress by act approved the % OF April
1879, established mint ut the then seat OF govern;
nent OF the Uriteu states to remain in the city OF
Phhadelphia uutil the All Of March 1901 subse-
quenty, till the ith OF March, 1903 ana then con
tinusd in force for W periods until the
attn Of March 1875 1t then enacted that the
mint should remain in Philadtlphis unth otber"iss
provided by law identity contem plating that the
time would arrive When some other aud more appro-
pirate location wou1 become adispensioly necessary
By an act app-ov he 9Th of Februsry, 1898 IL was
enacted thar al or,ign gold and silver coin except
spapish milo dollars Hnt parts OF dollsrsl which
shall be received pay neut tor moneys due the
United st.,,s AFTER said time whom the coiu2gs Of
cold and sive- should begB a. the mint Of the United
statse shall pr,viol.y TO their beng issued into
circulation DE- r.iu-d anew in conformity TO Law
thus coucusivty hat it tho intention OF
the government 20 establish a coinage the most de-
sirabe location that would furnish national cirou-
latiug cuirtprN the broadest basis regardless OF
sbo cost that IL might impose upon the country.
IL will also spp~sT h the establishment of the
miut Congress held its sittngs ia the city OF phia
delpbia: ana the several seaports not having thea
developed their respective commercial advantages, it
was deemed prdien 20 locate the mint at the then
seat OF govrrrm ut Since that period the city OF
New York from its admirable position AMI great
mercia advantages has attracted 20 her port nearly
three. fouTbs - the eommerce OF the United states
and expert, has fully demonstrated tho great ia
convenience aud folly of imposing upon oar citizens
the exp.nse OF sustaining mint nearly hundred
miles diatant from tue port through which a very
large portion Cf the precious metals intended TO b,
coin ed are hrst i1trcduesd into the country.
The report rom tie director OF the mint at Phila-
delIha dated a., oth day Of January. 1859 exhibits
ths operation OF 20 mint End its branches aud the
expense o. ts- coinage ~ these institutions from the
date "a their oisnneut to the 3st Deosmbvr lS49
Il appears that the total amount OF coinag- of all
descriptions AZ phiadelphia during period Of nifty
years NON 1898 70 loi9. inciusive-amo united
60 Sl2esl3ttS making en- average If 50 269 So per
anDum ana the value Of the gold coined and rcoined
at the uliGt a. Philadelphia dUTiDg the same time,
So; a. 81 showing annual gold coinage OF
only So go Ths period I'm braces the large amount
OF specs int iGto the country ia consequence
Of the famine 20 EuroP- aud other causes, in 1871
amounting 10 >2+l53ouo a. well a. the French in
dsmnty = tvs millions most OF which probably
sent to tht mint ~ Philadelphia 70 be- recoined
1t has b--n -.timstvd that the expense 10 the go
yernment tor coinage AT Phladephis about rs 100
per cent; ~ NJ oresDs. US 100 per cent in North
CaTolips. pei aud In Georgia. 81 100 per
The inconvenience aud expense attending a coinage
80 distant from ia" port into which foreign coin aud
bullion are u. 'Tted. have not only long since at
tracted to- u''''t OF thr camille community but
ofIthe government President Polk repeatedly di.
rsctsd The attention OF Congress to the Sdbeet; aud
the late dsin aisnrG Secretary OF the Treasury Mr..
walker, d-,n 10 Of rnu a Importance, that he
embraced every proper occasion TO present the sub
ject Co The con -ioe, alOn o, the country.
Mr.. Walker in his communication TO Congress-
dated D'c'mht' lh@S' thus speaks OF It's great i'm
well as th- that cou,d not fail accrue
to our somm'roe ~ the estabiisAnen; OF 4 Mat in
the city of New ACsk:a-
renew n, r.c,mm 10 atoms contained in all my
annual TepDrtS iur tA- est Establishment Of branch Of
the mint q ID irti state at the city ofNew ork.
That city our -rrst commercial metropolis, Is al
yspoipg g. 80 intimate position, 50 important 20 the
whole icc-h'FN. az -" EMPORIUM % universal COM
meree. the 'l" - International exchanges ana the
stoTehouss a. thr products 81 the world. To stain
this result w. uHst secure f'r our great cmpou am,
in eonp,t.tiou with foreign cities the command Of
her due proportion Of com anu bullion Now, IL Is
clear tina wi'rr Uliion conno be coined, and re-
coinrg- place. thi- mot be sccom p-h-J.
America Is tie continent OF the precious metals;
they are nov i,Cod IN extraordinary quantities IN
our owl d it T. ana 10 vast extent countries
adjacent; YET nearly all this coin and bullion
diverted 20 o,hrr countries and especially to Great
Britain being a. the chief instruments in aiding
that eouDt' ~ maintaining her command OF tins
business 81 the vo:.d BY st~sta hips and hy exports
Of her Cwn ptoiucp and fabrics she accumuatss
coin ana bui.'n IA London and provides tor their
coinage aud rccoinage Ia The least time ~ without
exp,pse; spA go. ia OR oGn commercial einporium.
We have nc Wrnt, or even branch mint for tn ,
important Ir,r,s p. OF coinage or rcoinags II "
would rand N. con neTce OF all nations,
nDst BE- through some one American msrcis
emporium. the cr.st centre Of our own trade an 1
busihoss 1tt history OF trade demonstrates tina
such potut ~ iuaispeEs abe enable any
nation 20 con nsnd IN vstssl co.nins rce; aud tina
spch concsntI 5ioh NJ some one city instead Of in
juring other eris parts OF the same couutry, Is
iBn.bss bsushJ 10 all There oanpot be tws or more
financial c,nu.t ~ ths foreign commerce Of any one
nation, any more than thsrs be or more
crntrrs Of r-cie rho same princip's OF the esntr.
Of the trade 81 nHtiur applies TO the trade Of the
world There be- bot such centre for world,
ara but cus ror -sch nation, which in this country,
from LHtuTR. osHs-s must b. 80 New iork where tho
competition uust soou commence with foreign cities
for the eortici o. International commerce now he
w "''i' -
bsBsnt ioOUt vr'le county and only De- secured
by making one 81 our osu cities the eeatre Of uui-
vere c'um,tcr 70 - inispepsahle IN this
great American sbtvtpri.- thAt specie snd bullion
should b. Invited i'oia s abe -orld t. Ne~ Yefk-not
BY nrJ unjust advantages. but by giving to 2 equal
facilities with cur other cities for coinage and re-
coinage
that this mint l. desired nut tor the benefit OF tbs
whole [ oicu The sturrholse OF she goods and pro-
sscts Of th' Uuo- must become the orsAouse OF It's
specie wtsT. the commerce aud goods thrrs the
representative ~ thrir value must be also and 10
alec should be- ever facility which mint would gvv for
lncr'sshf moe 'h'"Ia'hk 'Naee ana Tor bringing
them into imm'dsi, SDd asrve use 10 shy form wneh
nigm BE- d,rsd lt IL IN vain 60 say that p~ois
or bulp'u brought BY cur commerce 90 New YORK
can be cent 70 dI-tant point, where there Is n
mirt win but u'ls deHy. risk or expense
IL g. clear there must BE- ,ome ri,k delay. ani
oxPsuss ~ Grating tax on the business 81 QUE
commercial Trtiuc. and 20 that extent rendering
unequal her contest With European cities for auiv-r
fsl 'CUmtrer. Coins sud re-colusvs should b. IN
might L. taid a. rcssfd- m-rchandr with urarly tne
same truth a sutsd ~ relation O. specie, ina 70
expsEs, Ti.k oriay tom Sew York some d.sttnt
oi,y her y stauiel maraod . iassilei aui th.r
Fetn-.e 20 NtN N'rH o. talr ani dtHib1ttn De- 500
general maIbsfs car "au count ~ o. oftla world
II SEEM 90 b. 'rg,trn ~ nose Who prssont such
hFtmtnl- 'h'' ' Z" seat commercial ctpita ph'rs
egsin, - to fif aurnt q million Of dllFrs traus
acted 81 'su 60 .bs, 'ci.-s u1s inr rant tim g.
vherv the d'.a' OF day nay ,i;-n o. st hour nay
te most dt G.r.u. ard chang. the bsl.nca o' Esprt
20 o- msrt.uts as- u'u OF business -soald b. pr
mft'f 20 emerge Their '.i'u or fc-eiIu CON tor
smsriraE iu '.v hours moments cou.l b. me
az mint "r rs''r ~ ca. riut certi1cai.. - o.
poTtausr 10 aa~ ID su,t. ant sprrtr 10 !-.aIfoae
greet branch 90 con sT.- i p-naule DO tls trsu.
ohsrEs sl-.ae, ,,t.,. Co ,tss; St-rt la N'gYort
but y Unite. lu uira. ing i's hfutfts Co AmtTlrln
Ncw % Dr. taiJ'r' 90 srtuta rs ard delay 90 rIt
ina'.tm fcr g1'ulai tl8s 'hat Iesy bsirs !. eta
o. ccuu ..taU.rs vLsurer 81" o.. s.,sl saI, q. cn.
people. - aEust u.,i,ss 'a- che pnrpo.s ~ general
citcuistiou. ~ the re-. i.y o. the r.rsuis.i., o
DO lob d. ID.