New-York daily tribune. [volume] (New-York [N.Y.]) 1842-1866, 1856-02-09

,h;ch although lef by law 70 tne az It:
Director of the Mint and cannot De aae .J ,yspt
~ nsrtjcusr legislation yet IT Is OF 80 mucn hnPGa
rde 10 the community generally, that TINS occaSou
-. snnropriate to give il a fair and genera uhuei
III, - The 3Oth section OF the General MINI La"
A., ~ Ian ls, ls37-provides that " IN the uenoni
- ,;oDs of coin delivered the Treasurer shall comply
- witb the wishes OF the deposItor, unless ~neu Ii
nracticable or nconvenient to do 50; IN NIioh
. he denomination of coin shall be designated oy the
. Drsc,orr In view of the fact, that the deposi'os
- .I,.sSs Maid before the bullion Is operated upon
go s.oct of coin previously made ready, Is IL eVi-
Jrt that in the preparation OF such supply oi cou'
H. DIRECTOR Is 10 use his discretion ID regard 10 me ue
rs,;ons before oonfeuing with dePostorsi andthey
~ ~ nav not be exactly suited IN the payment.
Idonhedly in the s-ue OF COINS every proper s'ten,
ton should be given TO the prooa0e ueIiHIu' quo
esneciav in the silver coinage, WINCH II 10 oe pre-
Ined Is wanted for immediate use ana NOT TOT storage
,sn,,s Heretofore the general practice has been
-, nav denositors in the coin they have desired ana
s rot intended by these observations 10 give NOTICE
~ a, this usage will be entirely Abandoned Dut tHe
eLef DESIGN OF National Mint Is 10 rubserEe the III
~. 81 The neonle AT large, preferably TO a few large
ovnere of bullion or coin. The interests Oh the pun
lie and Of depostors are not always concurrent ~ Tue
matter under discussion Deposltors OF arge amounts
call for their coin in form which gives the least
,,onble 10 count and banking institutions IN addition
IN that NAV prefer il in form not likely 10 De drawn
ont MANY who present their checks at those nstitu.
tons would doubtless ask for specie, but are deferred
fo doinp so by the expectation OF receiving double
Main effect of issuing gold coin OF large size l. to
keen down the circulation of specie and increase the
ns of paper money. This remark OF course does not
anrlv TO such Localities where paper money Is pro-
hibited a.. for example, in the state OF California,
because in such case the different curences cannot
come in conflict. Before the act of Congress author-
ling the issuing Of gold in stamped bars there was,
II j. true necessity for the issue OF large CONS, as
well 10 meet the demand for shipment to Europe, as in
sore measure to relieve the pressure upon the Mint.
There was no kind of propnety in going through the
manifestations ard bearing the expenses OF making
small gold coin TO be directly melted down IN foreign
,nints or refneries But since the important change
in our mint Laws before referred to- distinction has
been made TO meet the demands OF trade oy wmch
gold intended for expectation Is cast into hne Dars
while that which II needed Tor home consumption Is
converted into CON- If we look at the example OF the
we.hhiest and most civilized nations OF the goDe we
shall find that their largest gold CON- to speak IN gen
.ra vav does not exceed our hafeage in value. Such
ia IN. case in Great Britain, France, Russia, the
Netherlands and other countries. There are pieces
NJ 10 thaers about Ss Of our money coined IN Ter
many, but apparently for international use The
same may be said of the American douoioohs, OF
which the amount coined is small Ii would no longer
he an embarrassment 20 the principal Mint nor to the
branches excepting perhaps the branch at San Fran
cisco-and 10 that Institution these views are not IN
tended particularly to appyto coin all the gold that
Is likely to be offered in pieces of 80 and less II s
true that nearly a. much labor is expended IN the
manufacture of gold dollar or quarter eagle as OF
an eagle or double eagle and in thus Offering TO make
smaller
assumed: but this consideration is met by another
that the division of labor and the present efficiency OF
the Mint establishments, especially when the repairs
al the Mint are fully completed, will enable us to
meet sach increase without additional expenditure
The manufacture of fine bar at the Assay Office IN
New-York and the coinage of the branch mint at san
Francisco, have divided the work upon gold bullion
as TO remove all apprehension OF difhculty or deiay;
In the coinage of the half-eage, particularly we shall
be materially aided by very remarkable machine
lately invented for the final adjustment of the weights
of the individual planchets. This instrument was
manufactured at Paris, and has been introduced into
the Mint there and one of similar powers is also
plOyed in the Mint of Eng and The one imported for
the United States Mint is adapted to the half-eage
only. 1t justly regarded as atiumph OF mechanism
IL not by assumed that the colnage OF the
eagle and the doube-eagle should be discontnued
on the contrary they will be indispensable at San Fran
CISCO they may in some emergencies be required at
Philadelphia andN o.. but as general rule adaptedto
the principal mint and to the branches IN the Atantc
States it is believed that the time has to return
to the smaller denominations of gold coin; issuing a.
most the whole in pieces not larger than the half eagle
and this upon the ground already adverted to-parttc-
ularly applicable to country so greatly favored with
the original production of the precious meta-hat the
people at large entitled to greater portion of real
mpershable money and that cardinal point at which
this reform is to be begun aided Is the place where
the gold is put into shape and size for circulation
The propnety of the organization OF medal office
at the Mint is respectfully recommended to your con-
sderation. The reasons for this measure, heretofore
presented, need not be repeated here. The frequent
calls upon US to strike medals, and to furnish copies
of the public medals, from the dies which are
deposited at the Mint, indicate that the establishment
of such Office would be of great public benefit. Az
the statement Of the medal dies annexed to my last
port did not embrnce all that at the Mint, and
In two other particulars not precisely accurate
| have caused more correct list to be prepared
which is herewith presented.
! also attach to this report several tabular state
ments exhibiting the full details of the operations Of
the Mint and its branches, including the Assay Office
for the past wear; also several statistical tables
latng to the deposits and cottage of previous years
and showing the States and Territories from whence
the precious metals have been received.
have the honor to be, with great respect, your
faithful servant, lSigned,)
JAMES ROSS sNOWDEN, Director Of the Mint.
To the President Of the United states.