Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1852-04-10
AMERICAN GOLD COINAGE.

The following letter. from the Director of the
Mint at Philadelphia to the Treasury Department
explains itself, and fully djsproyes the complaints
which have occasionally been put forward from
Europe Of want of uniformity in2the value and
6neness of the gold coinage of the United States;
MINT OF THE UNITED STATES,
PHILADELPHIA, APRIL 2, 1852
SIR In the appendix to report relative 70 coinage
lately made to the Senate by the Hon. Mr.. HUNTER
Chairman Of the Committee of Finance find two letters
from the Hon ABBOTT LAWRENCE our Minister to Eng
land dated December 13 1851 the other dated Feb
ruary 10, 1852 in which assertions are made tending to
dscred the accuracy of the assay of the godcons
from this Mint and its branches.
The statements made are SO injurious to this depart
ment of the Government and indirectly to the Govern
ment itsef-and are moreover entirely at variance
with the facts officially ascertaned by and hereto
fore communicated to the Departmentthat it becomes
matter Of great regret that they should have found pub
Lefty, and apparent counenance in document Of such
authority and importance. feel it to be my duty to
seize the first opportunity to make concise statement Of
facts bearing the subject from which you will perceive
that the highest credit is given to assays in London
and Paris.
Ist In statement prepared at the French Mint it ap
pears that there was deposited there coinage in the
year 1851 over millions Of dollars in American gold
of every which receveda the standard
Of assay required by our laws viz 900 thousandths
ID. By circular of the Bank of England, dated Feb
ruary 4th last American, French and Dutch gold coins
purchased by weight at the same fixed price The
standards Of neness in the gold coins of these countries
being the same it follows that the assay Of American coin
is held in the same that of the coin Of France
and Netherlands.
3d. Dr. Joseph w. Farnum, of the United States, now
London who unusual facilities to obtain in
formation the subject in letter Of April 7, 1851,
writes follows " A few days since had an interview
with Mr. Hazard the chief of the bullion Office Of the
Bank Of England who informed that the results Of
the assays Of the United States coin uniform
than those of any other coin received by the Bank not
excepting their He showed the reports Of
than hundred assays Of United States coin,
giving uniform result Of W. IT," This the fraction
by which coins of 900 housandths fine would be reported
by the Bank assays. III
4th The same correspondent, in letter of November
26th last states that Messrs Sharps Wilkins, and
Messrs Butt Son Co., bullion dealers of London,
port that the assays made for them Of American gold coin
averaged W. Ia, corresponding to standard He adds
These latter gentlemen Butt Son Co., to-day informed
me that they believed the American gold coin to be
uniform than any other with the single exception Of the
Russian"
5th In consequence of the large fraction used in
porting assays for the Bank of England namely the
eighth of carat grain $40 thousandths) very
minute variation from standard of 310ths Of thou
sandth causes report fraction below W. t. viz. W. IL
which could not be the if small subdivision Of
assay were made of, say one-sxteenth of carat
grain From the causewe, the other hand, gain
no advantage if coins slightly better than stand
ard. had occasion, short time since, to make some
remarks upon this point which submitted to Messrs
Mocaa Goldsmith meters to the Bank Of England. In
their reply they concede that by the present custom Of
assay for the Bank variation from the true quality
might be reported and they add that if more minute
subdivision of parts made in reporting assays Of
gold they "thnk it most probable that the average
quality of United States coin would be found quite up
the legal standard"
think further evidence be necessary to show
the entire credit given to the assay of the coins issued
from the MINIS of the United States Other statements
could be furnished corroborang this fact but they
withheld.
Very respectfully, your obedient servant,
GEO. N. ECKERT, Director.
Hon. THOMAS CoRwIs,
Secretary Of the Treasury.