The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1853-04-14
Talk OH Change.

Trade WORE in general way a rather quiet aspect as
merchants inclined to await the steamers news
due at Halifax.
The regulations of the Philadelphia mint referred
to- Hereafter the silver found in the California gold is
to be paid to the dspostors in standard silver; but
seniorage of one half of per cent will be exacted
for the cost of coinage It doubted whether the law
authorizing the establishment Of the assay Office ia this
city contemplated payment in standard silver for the
silver obtained from the refined bars ngots OF gold
The gold dust deposited wsuld be simply refined
into iDgots, stamped and returned to the owner. Was
the silver extracted to be returned in bullion paid for
In gold or standard silver The payment for pure silver
extracted from gold deposited in standard silver of nine
tenths Aneness not fair equivalent unless paid for
at the rate of 81 q per ounce the government price
How the assay Office to pay for fine silver extracted
from California gold, not very clear The alloy Of
silver in California gold 1t said, varied from to
seven per cent It was stated that great shifts
had been resorted in order to render the erection of
mint in New York. far practicable, unnecessary
but, in avoiding difficulties, others had been in
cured Large quantities of silver said pouring
into the mint and its occupation upon the silver
coinage not only suspended the coinage of three cent
pieces which had been very useful but would also mate
rally cursA the coinage Of gold, which had been
in 1t aid that the mint had given notice that
they would not purchase three pieces. How could
they avoid doing II would be easy for peck Of three
cent pieces be melted down and sold to the bars
at the fixed price for the pure silver in them provided the
premium should at any time become fcently high to
make 1t object and hence there possibility that
the thre cent pieces might be ultimately absorbed into
the standard twenty five cent fifty cent pieces.
Under any circumstances the operations of single mint
at Philadelphia could not prove useful to the public
if assisted by branch mint in New York. Owing to its
inability to carry at once to the full extent coin
age work in all its departments silver change would like
ly for time become than ever while the supply
of small gold coin would decrea,e
The seniorsge Of half per cent for coming gold would
reduce the deposits because its conversion into at
the assay Office would only be charged for at the bare
cost Of the operation, which would probably be under
the senorage of the half of per cent and charges
transportation to Philadelphia and back. The charges
made by Messrs. Adams Co., for Transporting gold to
the Philadelphia mint and back with Insurance. as com
carriers said to be at the rate of fifty cents per
Thousand dollars OF large amounts, each way on
under three thousand dollars seventy cents per
thousand each way and for any amount under thou
sand and three hundred dollars seventy five cents
each way II said to be contemplated for the assay Of
fee to produce gold bars Of $780, 900 and 81 900 value
each. What was emgrant to do who had only 500 or
$3.50 in dustS 1t commended that the bars ought to
be made as low in value as $50 and 800 each.
There much satisfaction expressed at the ual pas
sage of the reform BILL in connection with othe. useful
Some parties d approved of the amendments
to the tax bill.
The proposed commercial convention to be held Mem
phis spoken of, and the opinion expressed that
the field Of American enterprise wide enough for all
and open to all that, while New York was likely to
realize fair reward for the enterprise of her citizens
felt fear jealousy from the movements of her enter
prising brt thren in other parts Of the Union