The republic. [volume] (Washington [D.C.]) 1849-1853, 1852-11-16

tain cost of conveying coin from the Atlantic
States. The effect WAS partially visible in the
rise which Immediately afterwards took place
in the current value of gold dust.
The arrangement. while advantageous to
the community. was profitable TO the proprie-
tors of the assay office, whose prosperity ex-
cited the envy of similar but less favored estab-
lishmenls. Therenpon efforts were commenced
To reduce their rival To their own level; and this
was accomplished during The last session Of
Congress through the agency of Senator GwIN,
who introduced and carried an amendment To
the Civil and Diplomatic Appropriation BILL
providing that the issues Of the assay office
in question should no longer be receivable in
payment of public dues. The Treasury De
partment is therefore in no way responsible for
the changes of which the Californians com
plain. Its order merely carries into execution
the decree of Democratic Congress, which
iegislated hastily and at the instance of one
chosen by the Democracy of California to pro-
mote their interests.
following succinct statement upon the subject,
founded, it says, upon "the private CORE
spondence of the principal banking and com
mercial houses" received in that city:
1.-THE fret intelligence Of this arrangement in
the usual order of commerce and business was
communicated in instructions to the Collector of
San Francisco from the Secretary of the Treasury,
which reached him on the 7th Of October. In the
first heat of excitement, and without any inquiry
into the facts. u vast deal Of indignation was
poured out against Mr.. Corwin. upon the false
assumption that the act was Of his own voliton,
! and was prompted by unworthy motives, which
political partisans unhesitatingly ascribed But
when il to be ascertained that the OF of.
fence originated in legislation contrived, atured,
and carried through Congress by the Democratic
Senators and Representatives of California, and
conceived to crafty feeling of personal hostility,
then the tables were turned, and MIR. Gwin and
his associates were compelled to seek refuge from
the Indignation which they had overwhelmingly
provoked. All parties and all presses became
loud in their condemnation, and not one OF them
vas bold enough to confront the people In the dis
cushion which Immediately followed. Some idea
may be formed of the excitement which prevailed
in San Francisco when coin appreciated ten per
cent. in two days.
"Upon the refusal of Collector King to receive
the ingots for custom house duties, in conformity
with the instructions of the Treasury Department,
issued in obedience to the provision which the Cali
| forna delegation had passed by Congress, public
| meeting was held the 9th ultimo, which ap-
pointed a committee to confer with the collector,
and to report at an adjourned meeting two days
afterwards. In the mean time compromise was
agreed upon, by which MIR. King assumed the re-
sponsibiIity of suspending his instructions, num-
Der Of respectable merchan ts having posted five
per cent. Of the estimated amount of duties, and
entered into bond to indemnify him against all
loss, for responding to the wishes and consulting
the sentiment of the community. Unless all The
indications false the perpetrators Of this wrong
on the people of California, while protesting to be
their representatives and the guardians of their in
terests, will be made to pay the full penalty Of
their rashness BY carrying private resentment
into public legislation, they placed the whole
monetary affairs of great commercial city at the
mercy Of band Of epeculators, and subjected
| thousands TO serious losses and derangements
which cannot be readily repaired
The merchants of San Francisco have ad-
dressed memorial on the subject to the Secre-
tary of the Treasury; but it is obvious that the
responsibility of meeting the exigency devolves
not upon him, but upon Congress. He may
| offer suggestions suited To the case. but the
remedy can come only from those who were
privy to the evil. Certainly something should
be done to cover the period that must yet elapse
before the California mint can be put in opera
| ton.