The evening telegraph. [volume] (Philadelphia [Pa.]) 1864-1918, 1870-05-23
MINTING.

The following article from the New York Tribune
IL worthy OF careful perusal by those who take any
interest TN the mining Of the precious metals or In
the minting establishments OF the country. Those
VINO most familiar with the subject are free to
CONFESS their inability to perceive any necessity for
change in the laws relating to the ''Mints Assay
Onhces, and Coinage of the United States"
We have refraned from commenting upon the
bill having this object In view, and which is now
before the Finance Committee OF the Senate, for
various reasons, principal among which is the con-
viction that there is no probability OF its passage It
is to be hoped that the San Francisco refining
monopoly referred to by the Tribune is the only job
covered by the provisions Of the bill.
Senators and Representatives should examine
closely and act with great deberation upon so inn
portant and delicate subject We may have occa-
sion to refer to 1t again. should any serious effort be
made towards making it q law OF the land.
In the Legislative Appropriation bill, on the 18th
instant, the proposition to allow the refining Of
bullion by private persons, debated so 1ercey by
the Pacific coast Senators, was defeated by large
majority. In 1868 Congress passed the following
law:-'sThat the Mint of the United States and
branches, shall continue to refine gold and silver
bullion, and 40 contract to exchange crude or un-
parted bullion for refined bars shall be made until
authorized by law" The attempt to ex-
olude refining from the San Francisco and
other Mints has proved failure. The private per-
sons interested in monopolZing this business still
hope to accomplish their ends, through the bill now
the laws relative to the Mints, Assay 0ffices and
Coinage OF the United States" This measure COM
prises 6s sections some OF which greatly modify
ducted but also the administrative department
of the Mint establishments We learn that the
United States Assay Office in this city possesses ap
pances for refining gold and silver bullion to any
extent demanded by trade, and that by the use OF
two valuable improvements introduced by the pre-
sent melter and re1ner, which combine the sui
phuric and nitric acid processes the operations
performed satisfactorily to depostOrs and economi-
Cally to the Government
Section AZ OF the bill proposes under certain terms
chan9ed at any OF the respectye coinage mints for
fine bars" This is anxiously desired by interested
persons in San Francisco who have labored for
years to secure the necessary legislation We re-
commend that the Assay ONCE mode Of refining
should be introduced into the Mint at San Francisco
and that the Government continue to enforce the law
requiring refining to be done by its own officers,
proper protection to miners and other owners Of bull
this business conducive to the establishments Of a
monopoly. We find also, from section rs, that,
ing last year to s125 O0O to be discontinued This
would, OF course, increase the amount OF bullion
seeking the refinery; but in what way, we may in
coined or uncoined will obey the inexorable law Of
trade and its expectation cannot be prevented by
why the coinage Of gold by the Government should
not be made to contribute its proper share towards
meeting the onerous burdens which the debt OF the
country imposes upon US.
1t is proposed also in the bill to abolish the offioe
of Treasurer and transfer his duties the Supern-
tendent. This we regard as Objectionable. The sys-
tenn OF checks which the present law secures should
oT u 10 TaeTe the the o IN Of
United States from acting er o6icio as Treasurer,
by the appointment OF separate Treasurer for
for bronze coins we consider unwise, because en-
failing heavy expenditure upon the Mint for their
manufacture. The intimation In the report accom-
panysng the bill that the measure meets the appro-
val OF all the officers Of the Mint Assay Office, ETC.,
raj feeling Of these gentlemen is decidedly adverse
to the bill, aot was 30 stated to the Department.