The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1864-04-25
The Cent Coinage

The Cent Coinage.
IHTTER PROM MR.. JAMES ROSS afownEH, LATE
DIRECTOR OF TIE MINI, TO MEMBER OF CON-
PHnApslr INA, April 10, 1864.
ne recent suggestion change the material Of the
rent coinage ID open many objections The present
cent adopted 10 1857 when 1was D'rsctof OF the
Mint alter careful consideration Of the subject and
rsA,ed experiments 70 arrive The suitable alloy
Tor s composition The cent which preceded nnamey,
,he copper cent Of one hundred and sixty eight grains
we incouyenieoty large and heavy, and 10 color and
smell was offensive. The present cent was certainly
srea, improvement in these respects. II maintains its
color WELL and Ia OF convenient size and weight and
c,ncult coin 10 initiate or counterfeit. readily dis.
s,peuished rom other CON- even 10 the dark. BY ts
smooth edges wherein differs from ali sne coins Of
Mint ard .rtr as&aFpL
But il Ia now said that II 10 too valuable ntrinecaiiy
Let 10 examine this suggestion for The cent
composed Of eighty per cent copper and twelve
yer cent OF nickel and weighs sevsotytwo grains. The
Price Of copper Is about forty csots psr pound and Of
scke about 81 rs per pound Az these rates the ntrn
s,c value the cent Is Ave mills and sx leuihs Of mill,
equal 10 $50 per 500 Of Surely this large and
amply sufficient margin o. profit TO the government. The
amour. Of cents Coined a. the Mo- during me as, hscs
copper and Nickel Of s2io 32o-a Sufficiently large
she coinage OF gold and silver 80 nconsdsrabe, and
yAv something into tho Treasury Of the United States
bseides.
n may well be asked, Why should the government be
ssdgc the people the intrinsic value OF about hall
esnt on az alloy winch the stamp Of The die makes cur.
mis- now proposed 10 make the material OF the cent
mixture called bronze. composed OF ninety Ave per cent
copper and Ave per cent Yin zinc and 10 weigh forty
eight grains. THIS mixture viii cost more thar pure
copper. The price q copper 10 frequently below
above forty ocns but, putting 81 thai rate The
sprinsio value Of the cent would about two ms or
soe fth OF cent % coinage or $500 90 there would
ks profit 70 government Of $500 900 on the mate
rias used. Such an enormous profit would induce oil
Of limitations and stimulate the dishonest TO food
are country with coupterfeie This bronze would
sc very little better than copper In color and smell and
we oil remember how ouensivs the former cent IN
sbose respects.
II ls always desirable THAI the proportion between the
tpsrinso value Of the metals used IN the Inferior
eone which noe legal tender, should DOT be very
ruch below the nominal value Of The cola therefore
DO not concur IN the opinion that the Intrinsic value Of
she cent should be reduced below what 10 now s much
ss that lie value should DO reduced 70 the extent now
proposed Changes In the material OF coinage should rarely
~ made. and since experience has shown III the
present cent 10 composed OF an excellent alloy Which
maintains it's color and appearances we seems 70
bad policy 10 abandon ".
Again wc earn from the last Mint report that an eno
a ssw making 70 re- establish 10 country the manu-
soesu,e OF nickel from native ores with every prospect
AZ suos,ss ard thus the Mint bc Supplied nom ms
rcoroe /. tho exclusion OF tho foreign article Should