The weekly Placer herald., 1854-05-06
From the s. F. Price Current.
The Branch Mint.

IN San Francico, opened for deposit on
the LIST of April. This paper, in COM
mon with the press generally, of both city
and county, announced the fact some
weeks since, and several published de-
scription of the building; but we propose
to examine the subject Of a mint here at
our door, in the country which produces
the gold, and to speculate little upon
its influences here and abroad, present
and remote.
In 1s4S, 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 abode Gus
tom House on the plaza. Gold dust pas
sed in trade at ZIG per ounce, which was
the price previously agreed upon at a
meeting of the merchants while at the
same time the market value of it, in ex-
change for coin, ranged from $40 to $l2
per ounce. The accumulation Of public
money in. the Collectors hands, actually
gave him Serious uneasirless; it waAallC
coin, for. he did not Yaem hVnself ah
%horized to receive go y; dust, and had
previously sold at auctiMcthe amount ac-
Acumulated>on his hands as deposits for
duties, at about. sl1 5QRer ounce. 1t
n.n,1 mus, Be ,Ssn Sms"'sfed that i had no brick
The assay office and coi1lge of Messrs.
Ooffatt & Co., worked s4Ae change; but
ben those gentlemen commenced opera
'ti0hs under their contract with Govern
ment, to assay bars and issue ingots of
the denomination of $5oxrading in gold
dust assumed specific sf kpe, inamsuch
as we had basis tor ourPperations.-
Various private coins have been issued
during the past fsur years. some of WHICH
have been productive Of good-some have
worked pecuniary loss to the community.
At the expiration of the contract with
Messrs. Curtis, Perry & Ward, (the sue
cessors of Messrs. Moffat s. 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 to
make instead an arrangement with Messrs.
Curtis, Perry s. Ward, by which the lat
ter turned over to them their building and
machinery, both sufficiently enlarged to
meet our wants, by which we probably
have mint two years sooner than If 1t
had been concluded to erect one. 1t must
be remembered that the first appropriation
limited the sum at the disposal of the
Secretary to an amount much too small to
erect a building according to the plans
proposed, and supply the same with the
requisite machinery. Another approprla-
ton would have been necessary for finish
ing, and as this want would have had to
come before the present Congress, we
may consider ourselves truly fortunate
in having escaped 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
ult., the mint operations here were as
follows:
Amount of gold dust rece'd, 10000 or
=" &c &c coined, $7,5OO
&c GO run into bars, 172,494 46
paid out in coin, 1882 S5
The apparently small amount of coin
made during the fortnight, was in conse-
quence of the delays natural in the COM
mencement of operations, and the partial
dsarrangement OF the refining apparatus.
BY the arrival of the steamship Golden
Gate, on Friday, the 14th ult., with the
mail of March 2Oth, from New York, the
Sub-Treasurer received permission to use
half million of public money in paying
off mint deposits, which is how done as
soon as the value of their dust can be as
certained. In consequence returns are
now made in from three to four days, in
stead of the two weeks necessary if COM
PEELED to await the refining Of the specific
gold dust deposited. The amount given
above as paid out in this manner, was dis
bursed OH Saturday the 9TH ult., the day
following the receipt of the order.
The stamping of bars is likely to make
some difficulty, as tits questionable wheth-
or this branch mint has the right to stamp
and issue any but refined bars. The Off
GERS consider they are acting properly in
so doing, but as it is not permitted at the
other mints, we presume the Secretary of
the Treasury will not make any excep-
ton in favor Of the one located here, al
though 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 generally, not specially, and
particularly to the miners. This class
has for a long time past been receiving
quite the value of their dust, and in some
sections Of the 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 ex-
change. The stability with which fixed
will uivo uc cop onlv hp on