The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1870-04-29
THE COINAGE QUESTION.

Report of John Jay Knox, Deputy Comptroller.
We present Secretary Boutwells letter to the
House on the Coinage question, together with
such parts of Comptroller KnoX's report as are
of greatest general interest,"
TREASURY DEPARTMENT., WASHINGTON, April
25 1S70.-Sir / have the honor to transmit here
assay offices, and coinage of the United States" and
accompanying report. The bill has been prepared
under the supervision of John Jay Knox, Deputy
Comptroller of the Currency, and its passage is
recommended in the form presented. 1t includes
in condensed form all the important legislation
upon the coinage not now obsolete, since the first
mint was established in 1892 and the report gives
concise statement of the various amendments
proposed to existing laws and the necessity for the
of the laws pertaining to the Mint and coinage
since 1885, and it is believed that the passage of the
enclosed bill will conduce greatly to the efficiency
and economy of this important branch of the
government service.
am, very respectfully, your Obedient servant,
GEO. s. BOUTWELL,,
Secretary of the Treasury
Hon. James c. Blaine, Speaker. of the House of
Representatives
The COmptrOIIer's Report.
The last annual report of the Secretary
of the Treasury contained the following para
graph: "The mining and coming of the pre-
cions metals is now SO large national interest
that it deserves more attention than it has hitherto
received. At present there is no bureau or officer
in the Treasury Department at Washington
charged especially with the management of this
vision be made for the appointment Of proper
officer to be intrusted with this branch of the pub
lie business, under the direction of the Secretary OF
- the Treasury The coinage of the country is di-
minished in amount by the fact thatn England and
France the mint expenses are much less than with
u.s. 1t would, no doubt, have tendency to prevent
the export of the precious metals in the form of
bullion If the mint charges were to be reduced or
altogether abolished"
The Mint was located at Philadelphia by act of
Apri g 1902, for the reason that at that time that
city was the seat of government and the CONNER
eial centre of the country. The act OF January,
1897 gave 10 the director of the Mint the super
vision of the Mint and branches. Two years pre-
yious March 3, 1885, an act had been passed esta-
blishing branch mints at New Orleans, at Char
ioite North Carolina, and Dahlonega Georgia.
There was no expectation that any large amount
Of bulion would be deposited at these institutions
snd rhev were established rather to crafty the de-
sire for the establishment of mints in the south
than from any motive OF sound national policy, ano
their supervision was therefore placeu under the
control OF the Mint at Philadelphia.
Fieven wears later, January ID, 1876 gold was
discovered In California; and twenty-five years
Iater June 1862 silver 1.-THE Comstock lodel II
Nevada In July, 1882 the branch mint IN San
FTancisco and in March of the next year, the as
saw office in New York were authorized, anu loi i
loving out former precedents these lnsItuSiVm S t
we're placed under the control and regulation OF TN
director of the Mint. ,,,ol T,
This superyision has been merely nominal ~
the wear 1856 large losses, nearly quarter Oh ll
lion of dollars (s236,O13 l2), occurred IN Sno d oI
of the melter and retner In san Francisco, anu anu
amwittee Sr and subsequent special agent, wer
sent nv the Secretary of the Treasury TO examln
shat i1stitution, who reported great irregulaflts
a. tts manaRment, and the amount OF the del
nIancv no portion of which was ever recovereu
An examination was also made' py arec'ion VI 'H