Washington sentinel., 1853-12-10


the reasons stated in that report, it is recon-
mended that the fishing bounty be repealed,
and that branch of industry be left to the fair
4 competition which causes other maritime en-
terprises to flourish.
The table of imports and exports for the
| fiscal year ending 30th June, 1853, accompa-
nying this report, and heretofore mentioned,
compares favorably with those of preceding
| years, and marks our increasing capacity for
commercial intercourse The table of tonnage,
which also accompanies this report, shows that
our tonnage is now 4,407,0l0 tons, and ex-
ceeds that of any preceding year by 268 900 tons.
These tables prove that we enjoy prosperous
commerce, with an increasing capacity to ex-
tend it.
The table exhibiting the operations of the
mint also accompanies this report. 1t shows
the entire coinage to 3lst October last to have
been $370,00S, 1872 80: the gold coinage, from
the lst January to the 3lst October of the
year 1853, to have been $46,99S, ,945 60, and
the silver coinage $6,996,225, and proves an
active and growing demand for gold and silver
as a currency for actual use whilst the i'm
ports Of gold and silver, including what is
brought to the Atlantic from California, with
out estimating for that brought in by emigrants,
compared with the exports of gold and silver,
prove that, within four years, the large amount
of $l35,972,095 73 has been added to the
gold and silver coin remaining in the country.
Should this increase continue for but short
term of years, this country will be able to dis
pense with banks of issue, and their attendant
evils, and have the gold and silver currency
contemplated by the Constitution. The opera
tions of the mint and its branches for the past
year show very favorable result; and the re-
coinage Of silver has, in many places, removed
the Inconvenience arising from small bank
notes and want of change. 1t may reasonably
be expected that the supply, in the course of a
few years, will be ample, and extended to every
section of the country.
The operations of the mint at Philadelphia
and the branches require that the director
should have an assistant. The salaries allowed
been found insufficient to retain the best, and
recently two of the most skilful and expert
enced clerks left on that account
| 1t is thought that coinage of an alloy re-
sembling German silver may be benefcially
substituted for the copper, and experiments to
| that end have been directed. Should they
| prove favorable the result will be presented
during the session.
| The branch mint at San Francisco has been
contracted for, to be furnished and ready for
| the coinage of $30,00O,000 per annum by the
| first of February next, and there is every rea
son to believe that the contract will be COM
piled with, and the mint there put into opera
ton by that time, thus abnndantly supplying
| the people of the Pacific coast with con for
all the purposes of exchange and commerce.
| from their own mines.
Under the provisions of the act of the last
session authorizing an assay and melting and
refining Office to be established in New York
- L -. Al IL
| there be room for it. and if not, giving the Sec
retary of the Treasury authority to lease or
otherwise obtain suitable building for the
same, an investigation was made, and it was
ascertained that there was no room for the
assay Office in the custom-house, and that the
building did not afford sufficient space for the
business Of the custom-house, even after re-
moving the assistant treasurers Office
Many buildings were offered, and some Of
them examined, and the buildings belonging
to the Bank Of Commerce and the Bank of the
State of New York, and adjoining the custom
house, were found well calculated for the as
sistant treasurer's office, and also to furnish
sufficient accommodation for the surveyor and
his clerks, and a portion Of the collectors
clerks with the officers of the assay Office.
There was sufficient vacant space on the part
of the lot next Pine street for the necessary
| and refining. A negotiation was entered into
for the lease of the bank buildings with the
privilege of purchasing should Congress make
the necessary appropriation. The property
was rented for the term of fifteen years, at q
rent of $4,000 per annum, with the privilege,
should the appropriation be made, of purchas-
ing within two years at $530,000, with interest
| from date of the lease, the payments made for
rent to be deducted from the amount The
leases and contracts accompany this report The
bank buildings have been altered to suit the
assistant treasurer's Office, and to make room
for the clerks of the custom-house, and for the
superintendent of the assay Office and his
clerks The construction of the assay building
has been commenced and is now in the course
of completion, and all the necessary imple
ments, &C., for the assay office, and for melting
and refining, are ordered to be prepared by the
first of February next, with the hope and ex-
pectation to get it into operation by the first of
March.
The custom-house at New York being insuf
fcient for the increased business at that port
and the bank buildings adjoining it being found
ample for all the purposes of an assay Office,
and in fact for mint, should Congress wish at
any time to have coming done there, the ar
rangement for the purchase was made with a
knowledge that the price agreed to be given
was high; but it was thought under the cir
cumstances, to be worth to the United States
the sum agreed to be given. The purchase, as
provided for in the leases, is recommended to
Congress.
Immediately upon taking charge of the de-
partment information was received by me that
certain additional duties imposed under the
tariff act of 1916, on goods entered ten per
cent. below the appraised value, had been or
dered by my predecessor for distribution be-
tween the collector, naval officer, and surveyor
of the port Of New York, and that the amount
had been withdrawn or withheld by the collec.
tor from the treasury, and deposited with
banking or trust company in that city. My
predecessor having previously decided against
the claim, it was thought, upon examination,
that the twenty per cent. additional duty was
public revenue to which the collector, &C., Of
the different ports had no rightful claim. The
order of distribution was therefore revoked, and
the money directed to be replaced in the trea-
sury. That being done, and those officers still
asserting claim Mr. Maxwell collector of the