The republic. [volume] (Washington [D.C.]) 1849-1853, 1850-04-25
THIRTY-FIRST CONGRESS.
WEDNESDAY,, April "a, 1850
SENATE.
FIRST SESSION.

"EDNEspAfS a ptl 80 low
SENATE.
MIR. COOPER presented several petitions pray
ing modification of the tariff OF 1910.
SLAVERY
Messrs CooPER and WALES presented seyera
of the usual series of petitions on the subject oil STA
very.
REPoRTs FROM COMMITTEES
Mr. FELCH from the Committee Public
Lands reported n bill TO create the office OF Sur
veyor General of the Public Lands IN Oregon; tc
provide for the survey of those lands, and TO make
donations 10 settlers thereon.
Mr. NORRIS, from the Committee on Claims
reported adverse report on the claim of DAME
ID. L. Benedict.
MIR. BUTLER submitted substitute for the bill
regulate the fees and costs to be allowed clerks
marshals, and attornes of the circuit and district
courts Of the United States and for other purposes
THE COINAGE OF THE UNITED STATES.
The following resolution, submitted yesterday
by MIR. WEBSTER, was then taken up for consid-
Grafton
Resolved, That the Committee on Finance be in
structed to inquire what measures il may be most
expedent to adopt to facilitate and increase the
gold coinage of the United States.
MIR. WEBSTER said that there very
important facts connected with the subject EN-
braced in the resolution which he desired briefly to
State. Ii was well known that by existing laws
respecting the mint OF the United States million
of dollars in coin may be placed in the mint under
the direction of the Secretary of the Treasury, to
be given out in exchange for bullion, and this for
the reason that the coming may go on, and the
persons depositing bullion may not be put 10 the
great Inconvenience and delay OF waiting till the
bullion shall have been coined
Ii also known that latterly great inconve-
nience had been experienced from the slow opera
tons Of the mint, (he was not prepared at this
ment 10 say what the cause WAS, but the fact was
'so,) and the consequent delay in the coinage.
Some time ago, bill came to the Senate from
the House of Representatives authorizing an aug
mentation of the sum allowed to be lett in the
mint, from one to two millions of dollars. That
bill had been referred to the Committee on Finance,
and had not yet been reported. twas known that
OF late great quantities of gold have been received
from California, and it is most likely that the gold
from California will be sent to England for coin
age, because of the great length of time consumed
here before bullion deposited in the mint be
rc-delivered to the owners in the shape Of coin.
Large quantities Of bullion have already been
shipped to England for coinage, and he was in
formed that arran gements had been made there by
which the shippers of bullion to England can OBJ
tain credit III the Bank of England in twenty four
hours after its arrival at Liverpool. The expense
of shipping bullion to England for coinage, he was
informed, was about one per cent; and this one
per cent. was much less than the loss sustained in
the way of interest upon the money, from the de-
lay in having il coined in the United States.
By the returns of the mint for the year ending on
the first of March, the accumulation of bullion in
the mint was about six millions of dollars, and dur
ing the last two months of March and April, thai
a letter received by him, he had doubt but the
accumulation Of bullion in the mint was now about
eight millions of dollars
There was between eight and nine millions of coin
In the hands Of the Treasurer and assistant trea-
surers of the United States which, together with
the accumulation in the mint, made a sum of seven
teen millions OF dollars Withdrawn from circula-
ton and from the mercantile business of the coun-
try.
He proposed that the proper remedy would be to
increase the sum authorized by law To be left in
the mint, TO be exchanged for bullion, from two
millions, proposed by the bill now before the
millions of dollars subject to the drafto of the Secre
tary of the Treasury This sum would, he thought
be sufficient for the demands of the Treasury. He
had thought il To be his duty to call the attention
oil the Committee on Finance to the importance OF
this subject.
This accumulation of bullion in the mint had
two evil tendencies One is, to invite the shipping
OF the bullion TO England, and the other is that it
keeps that amount of money out of circulation
Mr. DOWNS said that he accorded with the SEN
timents expressed by the Senator from Massachu-
sets on this subject He then alluded TO the state
OF affairs in New Orleans, where the mint was
closed because of the inability find person to
take the office who could qualify in the amount
quired by law.
MIR. HUNTER said the Committee of Finance
had considered the subject in point. They had
reported bill TO increase the branches Of the mint
aud notice had been given by the Senator from Mis-
souri, OF an amendment to establish a branch mint
~ san lnc ne was gatlSned,
would give the whole subject their earnest consd-
Grafton.
Mr.. COOPER explained that the delay. in the
coinage was not attributable TO any want Of capa:
city in the means of the mint at Philadelphia to
perform its duties
Mcssrs. PEARCE, DAWSON, MANGUM, HUN
TER, and DOWNS continued the debate and then
the resolution was adopted.
MIR. FOOTE moved the Senate proceed 10 the
consideration of Executive business and the ques-
ton being taken resulted-yeas IS, nays 10.
The VICE PRESIDENT said that no quorum had
voted.
Mr.. BADGER called for the years and nays, but
the Senate refused 10 order them.
The question being again taken, it was decided
in the affirmatve-yeas "a, nays s.
MIR. CLAY, Consent being given,) asked 10 be
and was excused from serving the select com.
mittee upon the memorial concerning the improve
ment in the navigation Of the Ohio river; and
Mr.. UNDERWOOD was appointed 10 fill the va.
cancy.
The Senate then proceeded to the consideration
OF Executive business; and, after some time spen
therein, the doors were opened, and the Senate ad
journed.