Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1852-08-28
sEraNroRAaE ON THE GOLD COINAGE

To he Editors ofthe National hteuigencey.
My attention has just been called to a communication
published by you some fortnight since over the SIGNATURE
of Observer, in which the writer undertakes to sho
the fallacy Of a statement received from Adams %
and brought forward by the Hon. JAMES Brooks In bs
late speech on the seigniorage question touching the
comparative cost Of transporting 100000 bullion from
San Francisco New York and to London (direot re-
spectvely.
The corrected estimate of Observer" is SO paIpablv
alacous, and his statements so obviously incorrect
to induce the desire expose few Of the more gar
ing errors into which he has fallen at is matter of
surprise that gentleman so intelligent and usually SO
well informed" Observer should SO rashly have ven
ured to deny facts connected with the statement of Adj
ans Co., which readily subsantiable by documen-
ary evidence and that by very slight effort on his own
part And yet on that very denial his statements are
founded, which their value or worhlessness wholly
depends. He charges that if figures do not e thew
sometimes at least do not represent the truth shall
presently show that his figures have only to make
choice between the two forms of expression as denotng
their value But have first to state fact that will at
once cut away the foundation of Observers objections
to the estimate employed by Mr. Brooks.
AT the time Of making that estimate the New York
Offices charging and receiving per cent insurance
from San Francisco to New York. while the English Offices
were insurng to London direct for oneaada-quar per
cent and is since the publication of that estimate that
the New York offices have reduced their to one-and
aha per cent, which is still onefourth per cent over
the English rates observer should not rashy assume
Suppose" that Offices may not have taken even
greater risks proportoned rates than others I'M
til he has informed himself positively upon point
The whole ground of his professed dissection Of the
Adams Co. statement is covered by the offer which is
now made him to substantae every figure of that
ment by the exhibition, at any moment of undeniable
evidence in the shape of insurance policies bills of lad
ing &c. That statement was made up from such docu-
ments; and presume that neither Mr.. Brooks nor
Adams Co. are in the habit of making statements for
which they have not equally good grounds
observer" in reference to the fact that freight from
Panama to London mot from Chagres as he has it, in
Guiding as does the Isthmus transport only and
eghths per cent says that the mere statement
of the fact carries its refutaon inasmuch as for
the longer voyage Ito London the rate should be- and
doubt is" one-eghth per cent mor instead of less
than to New York Surely moments reflection viii
show even g Observer" although he may be better
arthmetician than logican that should be- and
doubt is do not always necessarily stand in the rela
tive position Of "premise" and sequtur"
The English freight charge from Panama London is
and three eghths per cent and more, which in
cludes Isthmus transport Of that throws $3.50
out of Observers statement of costs to London he will
see by reference to it.
As to insurance rates. he says, the insurance Of
is the ION gold destined for either London New
York; from San Francisco to Chagres meaning that it
is at the rate whether insured in London New
York Quite much of course" that the half Of
tro is equal to the half of acknowledgement The usual
division of the rates of insurance the being that
onehaf applies to the Pacific SIDE San Francisco to
Panama and the other from Panama to London or New
York The rate of insurance the English offices is
aquartsr per cent from San Francisco to London.
Observer" charges insurance from San Francisco to
Chagres per cent, and Chagres to London three
quartersin oil one-and threequarters per cent, which
onehaf per cent than the actual rate This
half per 100000 throws $500 off his esti
mate Of costs to London making with the $3.50 before
thrown freight $3.50, be deducted from the Lon
don side Of his figures and causing his figures fully and
fairly to corroborate those of Adams and Co., as will
show promising that now exhibit the reduced rate of
the New York Offices, oneand-a half nsead of two)
per cent against one-andaquarer per cent the English
rate.
ESTIMATE, &C.
SAN FRANCISCO TO LONDON.
Freight to Panama, Ii per $50 90
Freight from Chagres SHOULD be Panama) to
London, IL per Observation-Disclosures. 1875 90
Primage, per cent 131 20
Transportation from Panama to Chagres wrong
as shown above, and deducted below per
cent....................... $50 90
lns'ce from San Francisco to ~ per cent. in ali,