The daily union. [volume] (Washington [D.C.]) 1845-1857, 1851-04-12
FROM tie San Francisco Ala Csiitornia, March 4
Gold. -Unised states Assay once.

FROM Ii. San Francisco Aas California, March,
Gold.-Unitsd states Assay Once.
What cotton is to Mississippi and Alabama. sugar to
Louisiana rice 10 South Carolina and Georgia, hemp 10
Kentucky, silver 10 Mexico and Peru iron to Russia,
China, and coffee TO Brazil 20 is gold 10 Caor-
MIA The natives OF these States and nations respectively
the meaning OF the terms applied to the staple
of their country, and the rules and circumstances govern
ing their prices. They Judges OF the hbfe OF cotton
and hemp, the cTysalzaon and purity OF sugar the PEE
eular qualities OF ree Tea and coife silver and lron II
is doubtful ii as much be said OF our own people
respecting staple What is gold' and what rules
in regulating its prices II is doubtful il one man IN
thousand of our population really knows what gold is,
and what il is worth.
Pure gold is said be wenty-four carals fine. Its
standard mint value 49, them $40 672 per ounce. But
beyond that 1t usually bears premium OF from SIX 10
per cent the cost and trouble of refining enhancing
its value 10 that amount 1t is usually found alleged
gold depends upon that fact II hundred parts are
silver and nine hundred parts gold the neness twenty
carats and nineteen thirty seconds of carat and
ounce is worth $ls COS And the silver is
greater in proportion, the fneness and value OF gold
dust ia diminished. When the proportion OF alloy is
5O0-lOO0hs half Of the mass, its fneness would
be only twelve caras and lis value per ounce $40 $50
that is, the gold which assay would yield would be
worth much, and no more. The silver, OF course
would be worth its usual price besides The average
proportion of silver in the native gold OF Caiorniais about
one-tenlh OF the whole weghl-perhaps little more than
consequently value is not more than
ls eo5 per ounce, Troy and probably less than that
one-tenth OF the whole weight And from this value is
be deducted the costs OF its assay II the dust be free
from all other matter except its alloy silver its value
at the mint would be we have stated but much of the
gold dust bought and sold among US is not thus pure.
Some has never been freed from the black sand and
quartz with which il was originally found; some has
more or less quicksilver amalg amated with ii some has
been skilfully mixed with other metals and yet by "pck
ling" some other process, rendered very difficult OF
detection. We have seen bars which were worth not
l4 per ounce, in consequence OF base admxnres,
30 sktuy colored by some process that the eye could
not detect the cheat.
In the absence of MINT the people of this State have
and would be subject to doubt and mposture This
was felt by our citizens and delegation in Congress.
Every effort made in Washington during the last
few days OF the last session OF Congress- TO get bill
passed establishing mint in San Francisco; but being
| linked wish similar clause for mint in New York
city. defeated TO remedy the evils referred 10.
and also to afford us currency without the trouble,
loss risk, and delay Of double shpment-irs TO Pha-
delpha to be coined, and then back here for use-the
friends of California succeeded in passing bill eslab
| lish United States assay office in this city.
Amongst the beneficial effects of this establishment not
the least will be that Of testing the character and quantity
We have long been that whilst gold dust has ad-
vanced in price, it has, by the introduction OF sand
quartz, and base metals, become deerioraed in quality
We have been that bankers and Others whose
business it is 10 ship gold DUST remit the BEST because il
pays most at the Mint and retain the for general
circulation here Merchants well afford to buy dnst
they get corresponding profit upon their and
merchandise. Bankers too need not be particular
ITS quality so long as they can select the best for remit
ance and sell the refuse here at profit of twenty five
TO fifty cents per The miner will be sure to leave
three or four per cent OF sand and quartz in his gold
dust when he Knows that the Sacramento or Stockton
merchant banker will give him just much for per
ounce if IT entirely free from the sand and quartz;
and the Sacramento merchant or banker will not hesitate
10 make an addition to the miners sand and quartz when
he knows that the San Francisco banker or merchant
will give HIM as much per ounce with this addition
without it, And thus is that the greater proportion of the
gold dust which is retained here Tor business purposes
a
shipped would subject the shipper actual loss This
deterioration OF gold dust has been gradually and almost
imperceptlby going on for eighteen months past
year and halt ago, when gold dust commanded here
but SIS 10 Sl5 so per ounce average loss in melting
was not over three to four per cent but when II
commands SIS to SIG So its loss is six to seventhus
making difference OF some eight per cent.
All who have been long in California must have OBJ
served this deterioration in the quality OF gold dust The
recent returns from The mint show and the results at
the United States assay office in this city show it.
We have been furnished BY Messrs Mofa, & Co with
the following statement, which conclusivey shows the
extent TO which gold dost has become deerioraed not
only in its loss after melting, consequence OF the ad
mixture OF sand and quartz but in fneness, by the ad
mixture OF base metals:
The standard OF fneness OF United States coin is 900 hou
sandhs The fineness OF California gold been
ascertaned to be ss7 thoussndIh. Seldom ever Cal
iornia gold found To be under 5 thou 81
If found to be under SIS. II must have been designedly
aduLIerated,
United States assay office;
average fnene.s ss4 thousandths and average loss in
at appears that the hgbes, degree OF hncnes, is sO2
thoussnd,hs AID the lowest $50 difference
of SO tbousandtbs and that the smallest melting
Ito per cent, and the greatest IL l5-a difference OF
10 l. 10 per cent.
An of gold dus, that loses In melting lilo per
cent, and is 902 housandths, yields ST8 90
An ounce Of the above dneness and ioss-tha
Is, ss7, and lilo per cent-yields Sl7 IL.
An OF gold dust that loses IL 8, and is but s66
thousandths fine yields SIS 7oa difference OF So so per
ounce"
II would appear from this that the miner who sell. his
sand and quartz at SIC per ounce drives excellent
bargain but the cannot be said OF the buyer who
takes sends il TO the mint.
The following statement exhibits the neness loss in
melting and value OF several choice lots OF gold
dust deposited for assay
Thous fine. Loss per cent Value per OF
lot Ss9 81 SIT 80
lot 800 1910
lot 500 IL ~
lot $3.50 Al T63
l lot $50 IL 40