The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1857-02-09
The Old Spanish Coin.


We confess we entirely unpreparod 70 SEQ the
United States government resortins TO species OF
rom the country Win an Overlooking trcssu,y-tn
contents OF which belong 70 the whole peope-Congress
proposes according TO the outline OF the law which We
have seen. 10 compel business men, aborers, servant
girls washer &c. &c TO lose twenty per cent on
ell Spansh coin they happen respectively TO possess In
stead OF assuming that loss and charging upon tbs
whole people whose convenience that species Of cur
feIcy has subeerved. me proposed Law 10 utterly
indefensieie on any principle OF morals or Oh souna
xovev ment which enacts h-n indeed II do not anx .
stigma 70 the American name.
rneps whose example worthy OF tue imitation OF an
American Congress- requires that all win and defsoed
psr 10 eIonssSe for nee coin For person who
received coin OF this character, did no more towards
wearing out than each one Of the thousands or millions
through whose han dc had paced before resched his
own had been partially wern out ey the public and
q had become light" pOs sssssA Of less intrinsic value
than when lon the mint and the public, not the Last
oersos INFO whose hands had n,ed 70 fa should
q NE expense Of substituting Bcv coin In its place
Precisely the same rea.oeint u Applicable 70 the
NJ presence In tho counsry-oevtsiny not the pre-
cent holders but the puolo respoasibie the govern
u and paid out on par vxh American coin; and con
sequsnty the public. the goyernmeni should bear the
20: iavs,od IN getting I'D "H whenever deemed
seems % % quite ipcssdibls that an Americas Con-
sres capable Of passing any suco Av IL 10 .ufhssnty
oven Introduced Thai WI pass In w present shape,
We have Ilttle fear People Who have prescribed
sSs ssn ss S and me s
law. members Congress VIII learn from the sequel that
their hAI has nwe influence In controlling values ~
insleeace and justice have oentrolpg their conduct
THE VALUE or SPANISH COIN.
since wrupg The above We nave been favored With the
following loer from The rrsssursr u the United States
Hlnt relating 70 The same questson'-
USrrrD syarrs MIyr. Jan g. 1857.
DEAR ss-we give dollar and twenty two and half
cents for old sosnsh co in new silver coin We
IA nj he peH Mt
coinage has not passe lew samples were struck.
sna We vii be- bcra IN % put IN ccu alton The new CON
" VIZ ID. STURGEON Treasurer.
Mr. Powers receives spsnsn qosrtsrs at twenty three
sent. ana shilling. :. eleven c'o vScs price .s. be can an
United States government rnn single fso plsces the
csgrsncy Of the proposed nav N still stronger light.
cents Il lie mint fbs hs same eoins which IL proposed
70 pay ten and twenty for ~ all Custom Houses, Isna
and Poet : s;s. =. win % ss:' biz
would place the federal soverSnest
rFrom the lancaster. Pa, Express, Jan. 30
.s,sc, Of converssiioa among those ntsrestsd in re-
ceiving paying them out and No usderssand number
u orr sbopteepers and others refuse TO receive them In
she banks and the Post Office
We have had numerous inquiries within day or two
% ns ss,o, ssns @uSsr ase sSas the bin
ssorshins Their use, reducing their nominal 70 the
sscimsi vsos, has asAiy passed Congress- Ths s
amended w the Houee, and therefore goes psck 70
the Senate Ia virtually the same shape 40 new
bill The Senate must yet &C, upon these amend
ynents and II they adopted and the bill meets the
approval OF the President II vii then be the Law OF the
land, add fps" vii be worth osy ave cents "levies"
aeu cents. spd spanish "quarters" twenty cents.
Although the bill has not yet become q lsw, We have
40 doubt that will In the House amend
1nents and the President sprove H. The act u Q good
one and VT meet with universal approbaAon for these
cid ANAL spanish bad become public nuisance
and ougb, long since TO have been thrown out OF ercua
ton.
In the meantime some Of business men viii con
tinue Ia take them while others win not Those who
continue 10 receive them their nominal value
will, no doubt, receive good run OF Gus
TOM and ny this mesns may afford 70 lose ths discount
We notice by The Phsdslphia papers that some
aolders n thai city sell Their stock n bullion At the mnt
which reuersy result In aless NOV ten
cent quarters alone betns generally less Toe
standard valuation Of the Un4ed States Mint hxes We
prce OF this species OF bullion ~ 81 2ak per ounce
Dealers therefore, fr the sake Of an increase o. iher
cash bussess may scord 10 take this depyecaed co's ~
M nominal value, ard dispose OF - bullion, thus saw
ing from twelve per cent above the rate OF depre
citation axsd by the prop sed Of Congress- In antci
ration II the early concurrence Of the Senate 10 the
House amepdmsnts would be wi for our shop keep
ers merchants and deales9 10 determine what they can
90 In tbe premises and appriee the public Of the ho'
shrougb the press nor the benefit OF their cussomers