Weekly national intelligencer. [volume] (Washington [D.C.]) 1841-1869, 1853-01-22

and Of the entire community require that
some should be adopted to furnish silver cur
ency, and the subject is therefore, respectfully but
Earnestly recommended to the prompt attention OF Con-
kress
would again call the attention Of Congress to the sub
Of making mint certificates receivable In all dues 10
The Government and dispensing with the present buhon
lnd which is maintained at annual expense OF from
1850 to 400 000 which might be saved in interest
the application Of that fund to the redemption OF the
debt besides the great advantages to the business
community and the general trade ofh country oy throw
lag the Of that fund into circulation instead OF
eepng 1t constantly dead capital in the vaults OF the
hint
The amount of the bullion fund during the last year
as been nearly $1,000 oo and it has been applied 70
he immediate redemption Of mint certificates SO soon as
deposites Of gold dust assayed and their value
scerained, which has generally been in from twenty
Jour to forty hours after such depostes were made
the bullion fund then made good soon as such
ssayed gold could be worked into CON- to be again en-
loyed in the redemption of other certificates
The plan which the Department would recommend
ould be, to issue certificates under the authority OF
ongress to be duly registered and signed at the Irea
nry. to the needfu amount say six or seven millions OF
ollars in sums Of 800, $500, $1,000, $4,000, and
10000 EACH payable to the order of the Treasurer OF
mint to be distributed in due proportions to the mint
its respective branches and as any deposite
ogod bullion assayed and its value ascerained to
the amount Of the depostor in the above certificates
ecept the fractional part Of hundred dollars which
Vuld always be paid in coin These certificates being
wuld at all times command their full par value, and
wuld promptly and cheerfuy be received deposite
ch by the banks, and heldby them specie capital,
M their customers require them for the payment OF du
tbs lands They would accumulate principally at the
marts of commerce in the Union, and could be trans
mtted by mail by the different receiving officers to such
points the Treasury might direct avoiding all the
risk and expense which attends the transfer Of
public funds in specie from points where it is collected
and not required for public expenditures
As these certificates paid in at the large CONNER
cia seapors the gold coined could be sent to
such points from the mint the branch which may have
issued the certificates, and the latter would then be
turned the mint its branch for the purpose of being
again issued to depostors The expense Of trans
hitting gold coin to the points where might be required
in order redeem the certificates which had been recev
ed by the public officers would Of be paid by the
United States, and would require but small sum, pro-
badly the twentieth part of the amount which would
be annually saved in interest by applying the present
bullion fund to the redemption Of the public debt.
No objection could be urged to this plan on the ground
that it would be paper currency for it is merely GER
tifcate for amount Of gold already actually in posses
sion of the Government These certificates would not be
intended for circulation would they circulate from
hand hand but would remain with banks, bankers, or
individuals until required for payment to the Govern
ment; and the receiving officer should not be permitted
to reissue but only hold them until they replaced
with the gold in legal coin, from the bullion for which
they originally issued
These certificates should likewise always be redeemabe
at the mint after reasonable time being allowed for the
exceeding twenty days after the bullion had been assayed
1t is proposed that the certificates thus issued by
the mint and its different branches should be indiscrim-
natey and generally received at all points of the unon
such case the fluctuations and the great differences
in the rates of exchange between different places would
them to be used remttances and throw heavy
expense upon the Treasury for the transportation between
distant points of large amounts in specie, sufficient to
equae exchanges at least to the extent OF the issue OF
such certificates In California for instance, The ex-
change ON the Atlantic States is usually about four
cent premium and consequently all the issue OF mint
certificates there would be Immediately forwarded to New
York. to be used this latter point in payment of dutes
and the United States would be obliged to transfer at
heavy expense all the coinage Of the branch mint at San
Francisco in order redeem its certificates in New York.
The remedy for this would be- to make the issues OF the
mint and its existing any branches In the Atlantic
States be receivable only at the Atlantic seaports
those issued by the branch mint at New Orleans to be
ceivabe only at the ports the Gulf OF Mexico; and
oil the above of the land Offices in the Atlantic and
Western States whilst the issues of the branch mint at
San Francisco it is put into operation shall be
receivable all the and land offices on the
| Pacific.
If the present system is to be continued and bullion
fund of seven millions is to be maintained the balance
in the Treasury conveniently be reduced below
twelve millions Of dollars the system Of an indepen-
dent treasury cannot be conducted with less available
balance than five Millions as to have the needful
at all times at the points where the pub
lie expenditure is made
Surrey Of the Coast.
1t gives great pleasure to refer to the progress of
this important work during the four last years. The
whole coast divided into eleven sections and in
tive operations have been carried during this whole
period With only link Of twentysx miles south Of
the Chesapeake to be filed up unbroken tranguation
now extends from the mouth Of the Kennebec river in
Maine to the harbor of Beaufort in North Carolina The
topography and photography have made corresponding
progress The harbors of Portsmouth, New Hampshire
Nevburyport Ipswich, Gloucester Salem Wefeet, Mas
sachusets and others have been surveyed New shoals
have been discovered and sounded in the vicinity of
Nantucket The dangerous shoals along the seacoast of
Delaware, Maryland and Virginia, Hatteras shoals and
Frying Pan shoals have been made known to the nayga
tor in excellent preliminary charts The survey Of the
Chesapeake bay nearly completed and that of the
rivers flowing into it has been commenced Some of the
harbors the southern coast Hatteras
inlet Ocracoke inlet Beaufort harbor, Cape Fear
trance Roman Shoals Charleston harbor North Edsto
river Tybee entrance and the Savannah river have been
surveyed and the charts will be published.
The survey Of the Georgetown harbor in South Carolina
and Of the entrance Of ST. John river Florida have been
commenced The rianguaton and reconnaissance Of the
yicnties Of Cape Fear entrance, Georgetown harbor
Cape Roman Charleston, North Edisto, Savannah, and
entrance the ST. Johns gradually and steadily adj
vancng In few years unbroken SERIES with points
wel-determned by astronomical and other observations,
will cover the coast from the Penobscot river in Maine,
the ST. Marys in Florida The progress Of the survey
on the Florida reef and the shores Of the Peninsula is
trey satisfactory in view of the limited appropriations,
compared with the extent and variety Of the whole
amned in preliminary way, and nearly onehalf of the
survey Of the reef has been made The important harbor
Of Cedar Keys the western Shore has been examined
reconnaissance has been made of about oneha Of the
distance between St. Marks and Mobile bay, and
animation Of St. Marks river The triangulaon and to-