The daily union. [volume] (Washington [D.C.]) 1845-1857, 1853-01-02
CONGRESSIONAL.
SPEECH OF MIR GWIN,

or CALIFORNIA;
Delivered IN the Senate December 20, 1884, the
SION OF the presentation of several memorials by Mr.
WELLEa, signed by merchants in the city OF San Fran
cisco and California, complaining OF acl OF Congress
passed ON the Goth OF August, 1882.
Mr.. GWlN said
Mr.. PREslDEsT These memorials are old acquain-
ances Of mine They played part in the late political
campaign In California, and were conrved for the pur.
pose exciting prejudice IN the minds OF the people OF
laat Sale against the members OF Congress from that
State. met the issues contained in them on the stump
there, aud have reason TO complain OF the result
Therefore am not anxious TO reargue the whole sub
lect bu as the receipt OF pieces nj assayed gold for
public dues in that Stale is question of considerable i'm
Porance, and as had agency in obtaining the legs-
lalion connected with the matter, shall avail myself OF
this occasion TO give short history OF my action IN con-
nexion wllh The currency in California, that may be
correctly understood by my constituents and this body
Soon after arrived here as one OF the senators elect
from California, among the first subjects that engaged
my attention was that OF proposed legislation connected
with the staple production OF California 10 wits her
wished to be. consulted the most eminent scientific
IN the country as TO the best provisions that could be de-
vised for the bench, OF my constituents concerned in the
god industry and especially IN relation to the coinage OF
said gold.
may be permitted to say that made inquiries OF The
able and distinguished gentleman who is now al the head
Smithsonian Institution, and OF gentleman whom they
mentioned who had great practical experience and
knowledge on the subject OF coming On the llth OF
May, 1850, this gentleman favored me with communl
cation, which will read:
COLLEGE New JERSEY,
Princeton May H. 1850.
My DEAR SIR In compliance with your request, have
the honor to present the following relation the
gold and Of CaIiionia OF course you may make
any use of them you see fit
in large amount are rarely Bars OF pures
god of exactly nlned weight qualify and value are
preferred and used for that purpose
The size of said bars is usually about inches in
eng three wide, and and half thick, value about
The color of pure gold rich orange yellow, is much
difficult to initiate than that of any OF Its alloys This,
united with its great density, is security against
eIieitng Large bullion and specie also
generally consd to institutions. and persons whose COM
mecia character is guarantee against deception and
fraud There is therefore, reason believe thathe
erleitng Of such bars would rarely occur especially if it
be rendered criminal TO mutiate the bar without destroy
ing or entirely changing Its orm or TO Initiate or alter the
In France bars Of refined god stamped by an u,.ayer,
appointed by authority Of law, with their respective
weights qualities and values and with the name and seal
Of said legal tender Tor their certified values
During the administration OF President Jackson the
French indemnity was paid in such bars And the Hohs-
chids frequently send them to their agent, A Belmont.
esq, in New York. from whom they sometimes 20 to the
For international commerce. gold bars are f,r preferable
to coin being compact and liable to no loss Of parts they
the coin OF any country is readily dedueed By l,o SIM
pie arithmetic, irois the weight aud haeprss OF bar u
Besides. bars require tedious AID difficult eouans Of
numerous small pieces, and dispense wit the cost and de-
England and the United States alone seem TO resuic
coin In lS7 the heavy payments OF specie
pounds eiHg, though more OF less worn and therefore
of variable value Also the Smithsonian beauea was paid
sovereigns These soveTegns all melted and
coined al The United States and coin sim
lary treated when il crosses the Atlantic Why should
nations be thus constantly ecoinng the money
OF each other every lime that the precious metals pass 10
and In the settlement Of balances OF trade which
but temporary and osclatng
The gold OF California ind way chiefly Europe.
Had better 20 there theft In bars oil exactly deermn-
value without the expense and delay Of preparatory
coinage by the United Sates fee OF charge (ts s
the owners, but costly to the nation
For the inhabitants OF California, and for their commerce
with the Pacific nations with China and with the United
States mint is however, tndpensab And 1t should be
be- optional with any one de posting bullion to have either
coined which their weight hneness,
the penalties sgsns countereiting being
extended the imitation OF such stamped bars Of the
rights Of any private State asayer manufacture and
stamp bars with his seal and their value, &c
OF the organization Of the California mint could pre-
cent much Of valuable detail, from which refrain
To Justify public confidence, IL should be as perfect
possible and be intrused to only men o hs hshe" f"tes
il should, think, be les, dependent upon controlled
by the Philadelphia mint than the existing branches Tor
atous hnderan and ineicency y-besdes 1t should DO
free from the local policy Of a remote city.
With the economy, despatch, and other advan-
tages the system OF United States might be vafeds
under supervision and vedhcson by the government In
England association Of chartered companies performs
mental control And contract system, in France,
may be found that bes, suited for California.
Very "aly, K yo'si: 8 mscuLLoH
Hon w. M. GwIs, United States Senate.
On the 9th OF May, 1850, the senator from Connect
cut MIR SMITH offered resolution OF inquiry, contem
plating change OF the system OF coinage, TO wit that
authority be given TO the mint OF the United States to is
sue coin without separating the silver from the gold Of
Caorniao let the alloy be entirely OF silver instead OF
silver and gold On The l7lh OF july the chairman OF the
Committee Finance, to which that resolution was re-
fered reported against it, and that for the that in
commerce silver which enters into gold coin IL not
sdered OF any value and that il the alloy was OF silver
only the producers OF gold in California would there
fore ose the value OF their silver For this and other
good and valid reasons the committee were discharged
from the further consideration OF the resolution
In July the bill establishing bIanch mint OF the Uni
ted Siaes in California passed this body, before
member OF H. and in IL was incorporated the power OF
appointing INN edatey assayer 10 California, and per
miiiing him TO assay gold Soon after this was admit
mode Of accomplishing the object bad in view, intro
duced two bills the 10Th OF September one providing
for ASSAY Offices Stockton and Sacramento city, and the
other for The manufacture OF large gold COINS in the mint
it's branches, and assay o6ces. The bills were drawn up
with great and attention, and shall publish them
with these remarks
After my bis reached the Committee on Finance,
asceraned that the mint OF the United Staes at Phila
depbia hostile 10 the establishment OF large mint
and assay Offices in California No sooner bad intro
duced my bill for large coins than the director OF The
mint opened correspondence with me. assuming that
was wrong and that did not understand the subject
He sent substitute for my bill and letter explain
met with no favor in the Committee on Finance; and
the session passed without action on IT, 10 the letter o
the drcctor replied. though not immedaley, because
ad a the close oil the session ot Congreas and
In said reply showed, think, that bis views, not mine,
erroneous That correspondence or extracts from
- 49, H. xA n<xH r Al.