The republic. [volume] (Washington [D.C.]) 1849-1853, 1851-02-01

an additional million. ne director OF the fnllA-
depha mint writes that its facilities have been In
creased 10 five or six times its former extent II
this be factif We can rely on the official state
required of il. Why, then, create another insttu-
ton in New York! II branch be created in Cali
fjrnia the great influx Of bullion into New York
would be prevented; and hence there would be no
occasion for mint in that city. He did not intend
TO occupy the attention Of the committee, but he
thought that the reasons were so overwhelming
against the measure that II ought TO be condemned;
| and he expressed the hope that the House would
meet the proposition "a it ought to be met, and
send it where many others have gone-to the table.
Mr.. HOLMES, Of South Carolina, in the course
of his remarks, said that if the mint in Phladel-
phia was incapable of meeting the demand, the
remedy lay in establishing branch in California.
BY this, the necessity for branch in New York
would be destroyed and the great losses sustained
by the people of California prevented. This be
showed, at some length, and condemned the dis
tribution of money, by legislative log rolling, to
benefit particular sections Of the country. He had
no objection to New York becoming as rich as
Tyre. She ought to rally round the Government,
for without the action of the Government, through
the monetary system, taxation, and the doctrine
ought to be-a respectable town, large as New
Orleans or Charleston.
Mr.. PHOENIX, of New York, replied TO MIR.
CHANDLER, and commended, generally, that the
mint at Philadelphia incompetent to supply
the demands made upon it that the cost Of trans
portation of bullion from New York to Philadel.
phia, and the return OF coin, would cost more per
annum than the erection OF n mint IN New YORK.
He referred to statistics and calculations TO prove
his positions.
MIR. THOMPSON, OF Pennsylvania, supported
the amendment OF Mr.. CHANpLER. He denied that
the cost OF transportation OF bullion and coin be-
tween the two cities would be S25O,O0O per annum,
and said that Adams & Company would undertake
the business for = $4,000 mint at New York
could not be built and operation in less than
three years, and by that time the gold mines in
California would be dry And he spoke OF the Large
| amount of money which the establishment OF a
branch would cost. 1t would be the sheerest folly
to expend 1t for this purpose, especially as the
Philadelphia mint is now competent to meet all
demands.
MIR. BAfLf regretted that this question OF pub
lie policy should be brought down TO a scramble
between New York and Pennsylvania as to which
shall have the patronage connected with it. He
had no doubt the members from those States would
vote with an exclusive view to the question, but
hoped that such would not be the case with mem
bers from other quarters. This subject was before
the Committee of Ways and Means, and the ma
jorty were opposed at this time tc make aPPropria-
tons for mint at New York. In coming to this con-
cluson. they were influenced principaIyby the con-
dition of the finances. The House would recoect
that, during the last session, he took occasion to call
the attention ofthe House tothe condition OF imam
ces, and to show (and he could show more clearly,
if he had time) that if Congress went on appropr-
| ating money at the rate they had been, we would
be brought Of three Reconsideration to di
rect taxation, tax on tea and coffee, TO live on
loans. This the condition of things at the
time to which he referred. He was certain this
result would ensue, by what had already TIA
ken place during this session of Congress. He
had no doubt that the French Spoliaton bill
would pass. And that would be five millions
on US. Already the Post Office would be charge of
q million the Treasury. We are constantly
increasing the rate of the appropriations and any
effort at retrenchment seemed absolutely impossi
ble He warned gentlemen Of the condition Of the
finances and unless they vote against appropria
tons which the public service does imperative
ly call for, we will be compelled to live loans,
put duties on articles now free, because cannot
raise a higher revenue on articles heavily
taxed He repeated. we will have to put a duty on
articles now free or go on living upon loans, and
building up an onerous public debt. The public
debt is now counting ten millions for Texas, up
wards of eighty millions of dollars; and he APP
prehensive that before the end of tho session, we
will have laid the foundation of debt of ninety
millions Of dollars. This being the CASE he asked
the House if the treasury was in condition to
| bear 80 heavy a drain; and he asked the House
whether there such pressing necessity for a
mint in New York as to induce them to pass the
bill.
The hour Qhree o'clock) 20 which the debate
was limited now arrived.
Mr.. BRIGGS moved that the committee rise.
Mr.. THOMPSON, of Mississippi, moved that the
committee rise, with a recommendation to the
House that the bill 90 not pass
Mr. McCLERNAND moved that the committee
| rise, with recommend alton that the bill pass.
| The motions were disagreed to.
| The question was then taken on the amendment Of
Mr.. VAN DYKE, to locate branch Of the mint in
Jersey City, New Jersey, and not in New York.
| This was decided in the negative
MIR. CABLE offered an amendment to the first
section of the BILL providing that of the aggregate
amount of gold coined, ono fourth shall be one dol
| lar pieces ono fourth quarter eagles; fourth
| half eagles; one eighth eagles, and one-eighth
double eagles. He said that there was party
drawing money from the treasury, but after the
money was drawn out there were two issues. He
wished to guard to some extent the rights of the
people. The scoundrclism of the Philadelphia
mint at this time very proverbial. daughter ]
You will find, by looking at the report, that of the
coinage of last year twenty three millions nine
hundred thousand dollars were in double eaglcs;
about two millions six hundred thousand in eagles
and the remaining one million and half in smaller
coin. The object of this was very clear. The de-
sign was to draw away from circulation among the
people our gold coin. It the plan of the bank
ers, jobbers, and SPECTATORS to withdraw the gold
from circulation, that it may not como in COM
petition with their shinplasters 1t was a scheme
Of pundering. Hence he hoped that his amend
ment would be adopted. 1t would go to some ex