The Nevada journal., 1854-05-05


Mint of the United States, located in San
Francisco, opened for deposit on the first of
April. This paper in common with the press
generally of both city and country, announced
the fact some weeks since and several published
a description of the Building but we propose
to examine the subject of mint here at our
door, in the country which produces the gold,
and to speculate a little upon its influences
here and abroad, present and remote
In lS4S, a long time ago for California, the
few Of us who were in San Francisco found
Collector Harrison the guardian of the public
moneys in the old adobe Custom House on the
plaza. Gold dust passed in trade at SIG per
ounce, which was the price previously agreed
upon at a meeting of the merchants while at
the same time the market value for it, in ex-
change for coin, ranged from $40 to Sl2 per
ounce. The accumulation of public money in
the Collectors hands, actually gave him Sc
rious uneaslness it was all in coin, for he did
not deem himself authorized to receive gold
dust, and previously sold at auction the
amount accumulated on his hands as deposits
for duties, at about $lI 50 per ounce. 1t
must be remembered that we had no brick
vaults then.
The assay Office and coinage of Messrs Mof-
fatt & Co. worked some change but when those
gentlemen commenced operations under their
contract with Government to assay bars and is
sue ingots of the denomination of $50, trading
i'll gold dust assumed specific shape, inasmuch
as we had basis for our operations. Various
private coins have been issued during the past
four years, some Of which have been productive
of good-somc have worked pecuniary loss to
the community.
AT the expiration ofthc contract with Mcssrs
| O.
Messrs. NJ Moffatt & co., efforts were made to
procure the erection of buildings here, planned
for an extensive mint The Government were
fortunate enough, however, to correct this, and
make instead an arrangement with Messrs Cur
tis Perry & Ward, by which the latter turned
over to them their building and machinery. both
sufficiently enlarged to meet our wants, by which
we probably have a mint two years sooner than
if it had been concluded to erect one: 1t must
be remembered that the first appropriation linn
tied the sum at the disposal of the Secretary to
an amount much too small to erect building
according to the plans proposed, and supply
the same with the requisite machinery. An
other appropriation would have been necessary
for finishing, and as this want would have had
to come before the present Congress, we may
consider ourselves truly fortunate in having es-
capped the chances of defeat which might have
ensued in the present disturbed state of affairs
at the seat of government
Up to and including Saturday the 18th inst,
the mint operations were as follows:
Amount of gold dust received l--------.4o 900 OF.
" coined 81 500
a" " ' run into bars IL. 1874 O.
g :" paid out in coin -177 1892 35
The apparently small amount of coin made
during the fortnight, was in consequence of the
delays natural in the commencement of opera
tions, and the partial disarrangcmcnt of the re-
fining apparatus.
BY the arrival of the steamship Golden Gate,
on the l4th inst, with the mail of March 20,
from New York, the Sub-Treasurer received
permission to use a half million of public money
in paying off mint deposits, which Is now done
as soon as the value of their dust can he ascer-
tained. In consequence returns arc now made
in from three to four days, instead of the two
weeks necessary if compelled to await the refin-
ing Of the specific gold dust deposited. The
amount given above as paid out in this manner.
was disburscd on Saturday the 18th, the lav
following the receipt of the order.
The stamping Of bars is likely to make some
difficulty, as it is questionable whether this
branch mint has the right to stamp and issue
any but refined bars. The officers consider
| that they are acting properly in so doing, but
as it is not permitted at the other mints we pre-
sumo the Secretary of the Treasury will not
make any exception in favor of the one located
here, although to make it fully useful such per-
mission should be extended.
The establishment of the Branch Mint among
us will be advantageous to the community GEN
orally, not specially and particularly to the mi
ncrs. This class has for long time past
been receiving quite the value of their dust,
and in some sections of this State more than its
fair value per ounce this last because certain
shippers prefer the chances on shipping dust, to
the certainty of good bills of exchange The
stability which q fixed standard will give us,
can only be appreciated by experience all de-
scriptlons of money operations must be by it
greatly facilitated. 1t is true we must not be
too sanguine for some changes may yet take
place Ill the Mint itself; but after some conSd-
GRAFTON, we think ourselves, that the only one
likely to be made is the alteration in the per
centage charged for coinage, We have no idea
that such perfect and beautiful machinery will
or can break down, but the law which gave us
this Mint contains clause by whsch the
charges for coinage are to be regulated by the
actual cost Of the same. The charge has been
fixed here at LILO per cent. On careful ex-
animation of the matter, we cannot but ask
ourselves the question, what would be the re-
suit? what the disarrangement of our financial
matters, should this charge be found to be mad
equate? We consider it certain that an in
creased rate would be established should such
prove to be the case, for with the law plain in
view, no officer could ask Government to make
deficiency appropriation for this Mint. We
much prefer, however, to see its workings a
while yet; ltlsnot improbable that, in the pro-
SreSS OF operations, reduction NAV ultma talv
be made to Philadelphia rates of about rs per
cent
Depositors at the Mint arc allowed the value
OF what silver may be contained in their depos-
its OF dust, when the same amounts to five dol
lars aud in this connection we would call at
tentlon to the fact that there is probably suf-
hc!ency OF silver in California gold to supply
this State with all the silver coinage necessary
for the purpose of change.
FROM THE CAPE OF Coon HoPE.-Cape
NNArr