The daily union. [volume] (Washington [D.C.]) 1845-1857, 1856-02-16
Of the United States, Philadelphia,
AQs.s6G.bGh a2

The chief part of this large amount has been received
since Deeenber 1913 and Is the production OF the mines
OF California, viz: 3234502 n. In former report
suggested tending TO show that the
large amount Of gold from California and that produced
from Australia need excite no approximations in regard TO
any material disturbance In the value Of the precious
metals yet cannot but be apparent that this increase
renders Il highly important that States and nations should
extend the uses Of gold aud drive out Of existence that
which circulates In place Of H.
There point connected with this subject and the
general management Of the national coinage which, al
though left by law TO the discretion Of the Director Of the
Mint and be made the subject of particular eps
ton yet Is Of 50 much importance to the community gene
rally that this occasion appropriate give IL fair
and general undertaking The 3Oth section OF the
the denominations Of coin delivered The shall com
ply with the wishes Of the deposition unless when mprsc-
ueabe or ncouyenent 10 do In which the denom-
nation Of coin shall be designated by the director In
view Of the TACT that the depostors always paid before
the bullion opcated upon from stock Of coin previous.
~ made ready II evident that 10 the preparation Of such
supply Of coin The director his discretion in
gard to the denominations before comforting with deposit
and they may may be exactly suited in the pay
ment Undoubtedly In the issue Of coins every proper at
tenon should be given 70 the probable demand and es-
pecially In the silver coinage which, II is 10 be pre-
umed Is wanted for immediate use and not for storage In
vaults Heretofore the general practice has been TO pay
dpotors IN the coin they have desired aud u Is not 10
tended by these observations 10 give notice that this
viii be entirely abandoned But the chief design ola
tonal mint Is 10 subgerve The interests Of the people a
large preferably 70 few large Of bullion or coin
concurrent in the matter under discussion Depositors OF
large amounts call for their coin in form which gives the
least trouble 10 count aud banking nsutons In addi-
ton 70 that may prefer In form not likely 70 be drawn
out Many who present their checks at those nstu tons
would doubtless ask for specie are deferred from doing
so BY the expectation Of receiving doubeearles instead Of
halt or quarereages In word the plain effect of ism
og gold cola Of large sze u to keep down the circua-
ton OF specie and increase the Of pape money This
remark Of course does not apply TO such localities where
paper money prohibited for exarle in the state ~
California because Ia such the different Gu rreprie ~
not come In conflict Before the Of Congress author
ling the issuing Of gold in stamped bars there was n il
true necessity for the issue Of large coins as well Ia
meet the demand for shipment 10 Europe as IN some
measure TO relieve the pressure upon the Mint There
was no kind Of proprieiy IN going through the manipu.
auons and bearing the expenses Of making small gold coin
to be directly melted down In foreign minis or re6neres
but since the important change in mntlaws before
erred TO- distinction has been made 10 the demands
trade by which gold intended Cor erooration into
ane bars whilst that VII Oh s needed for home oonsump
aon converted into coin. II we look the example Of
e wsahiest and most civilized nations OF the globe We
sna Ind that their largest gold coin speak 10 gen
s way, does not exceed hsfesge value Such is
ne case in Great Britain France Russia the Netherlands
'"u oh countries There pieces Of ten haler about