Richmond enquirer. [volume] (Richmond, Va.) 1815-1867, 1852-03-12
RICHMOND ENC UIRgR.
THURSDAY MORNING, MARCH II, IsS2.
u. S. SILVER COIN.

| Y. -.
| Mr. Hunter from the Committee Of Finance TO which
was rcorrcd so much OF the report of the Secretary of the
Treasury as relates 10 coinage has reported o the u D
Senate bill aendatoy of existing laws relative 10 tho hall
dollar quarter dollar dime and halt dime Inc bill provides
that from and aer the lst Of june le5 the weight OF Inc
half dollars 10 be 1872 grlns and the quarter dollars dimes
and half dimes shall be respectively oreha, onelth, and
ope,enth of the weight of half dollar; which coin s
made legal tender In payment OF all sums not exceeding
s5 The Treasurer of tho Mint with the approval Of the
Director 10 purchase such bullion required for the coin
are with the bullion of the mint Such coins TO be paid out
a, The min, In exchange for gold coins at par OF
less than $780, The coined In quarter dollars dimes
and half dimes bc regulated By the Secretary Of the Trca
suy. No deposiles for coinage into small pieces hereafter
be received other than that received BY tho Treasurer Of
the Mint Deposturs have the option Of having their gold
silver into baIG nsots OF pure tai Of standard
fncness, with stamp designating the came No piece TO
be catt into bars OF less weight than rAct PIE
css one two three ard five ounces oil Of which shall be
+ the standard fneness, with the weight and fnentss
stamped upon them. In where gold and silver dcpvs
tied be coined cast into bnrs ngos 10 be charge
The depositor in addition the charge made for ref
nnc Of oneha OF one Per cent? 10 &c charged TO the rca
sucr From tmo ,ime there is TO bc struck and coined
at the mint and its branches cun of the value of SO; The
shape and device be fixed b. the Secretary OF the Treasury
In introducing the BILL Mr. Hunter made long and very
nb report for which regret have space II reviews
the Whale subject Ioneh aud thinks there Is just cause
appehend any dangerous expansion Of the currency from
the increase OF the precious metals The annual production
of gold snd silver probably does exceed $3.50 0Go
bu, The interest upon public debt of Europc alone
per cent per annum, would amount 10 1926 SIS S24-and
the annual production of the United States is probably
at least four times that 1t adds tina, there is TO
believe that the value Of the property Of the world is ncrea
sing than that Of the precious melu with the
new sources Of supply 10 the latter.
In order 10 afford the country the benefit 10
tent of both metal. standard of value 1t Is proposed in
the bill diminish the quantity Of silver in tbs half dollar
and coins smaller denomination b. about 69l per cent
The British Government tho epor: says have adopteda still
greater scgnorage and their experience seems TO have pro-
we'd The efficiency of this measure for furnishing mealic
coins In sufficient quantities for the smaller transactions OF
society But made legal ende-ana il not made
in Great Britain, except for small! sums, only
circulate for such purposes. To mako II legal
tender al such rates, beyond lts bullion value,
would dcbass the standard and expcl the gold. To
secure the of silver coin In place of small notes for
the mno. transactions of commerce. II is proposed 70 make
this coin legal tender Tor sums exceeding five dollars
receive in payment OF public dues To prevent the
danger that the demand fo The con for The payment OF pub
lie dues may induce great coinage seriously to de-
pccae the general cuncacy OF tie country the o ovides
that the coin shall not DC struck upon Inc demand OF
positors but under direction oi the Secretary u line Teasu
ry who can thus always limit the amount.
To tho expenses of the mint, the bill proposes 10 lay
dcpostors segnoruge legal charge upon the man
uac,urc OF onehal Of per cent for both gold and silver
dcnyicg thcm however the right Of having the new silver
coin struck their In France the charge is
< per cent gold and 4 per cent on silver in Eng
land, ~ per cent gold, and ~ per silver
On snhjes. great Importance and so much dncul.
" earnestly commend this report TO the member" OF our
General Assembly Let them weigh all its facts and reason
ings before they The ,a! step of cnlaGng the shin
pastsr circulation Of the State.