The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1872-04-06
Year Nro Yorh. ~ Sun Boston, I lna Ne0
$685. 49, SIG COZ 3o5 S692y Sl27 III $50
500. -. U,247b66 2l,4S09U4 b3li5 l42,552 SS6,c60
$40. 46636S4eI 1856, 1851 b07s6 295O1I ll77l7S
S7l.. S206l ,498 15l9 l65 1G25499 l27OD 2.2SO 1893
Total ss7l s77 81 81 425s4s SO

The committee ask the question .Ought the
government 70 derive any pecunlary profit from the
Mint, impose any charges beyond the actual cost
Tor refining, stamping and coming the metals used
In making the metallic money OF the country f'
and answer, 1t Is simply the office OF the Mint TO
turn metals into coin ut 10 be measure Of
domestic value and take It's place by the side OF the
metallic money OF other nations ready 10 challenge
any examination or comparison IN respect to Its IN
tegrity and purlty.o
the objection to any coinage charge beyond the
actual cost rests on plain ana unmistakaDle moral
foundation. me gold ana SILVER or the country
long 10 the people anu not to the government They
the fruits solely OF the enterprise and industry
or the people, who nave an inherent right to can
their representatives In the congress to which tneir
constitution has granted the exclusive power or
ascertanlng and fixing 10y stamping or coinln0) the
value OF those metals, TO exercise such power IN
the people any. tribute mOnev beyond the
actual cost. 1t was fayorite article
tie dark and baroarous ages, TO ioo their
SUBJECTS by debasng the coin; but the act Is no
more shameful or dscreditable than the imposition
OF a charge to cover beyond the necessary cost a
petty peclniary profit for the exercise OF a tram
scendent sovereign power conided to a govern
ment for the due conservation OF It's national credit
The enlightened governments OF GREAT Britain and
France have long since abandoned the practice Of
Mint in 1915 reduced the coinage charge OF
Great Britain to 1ad. sterling less than three
United states centsl on an ounce OF god, value
wnile the government OF France during the last
fifty years mas been gradually reducing It's coinage
charge to cover only the actual cost IL now stan1s
at 70-l00 francs for q ..kiogramme" OF GOLD,
tanning 8, 100 francs, exceeding Dy only a trinng
fraction One-f1ith or one per cent The British
charge is made still less burdensome by the prompt
delivery OF the coin In exchange for the metal de-
posted.
The objection to a mint profit really does not ad-
NIT OF argument. IL rests on the deep moral III.
stinct winch revoits at the spectacle Of great
tinental government descending TO the level OF the
mOney-changers thronglng every city IN Europe.
The committee have been led thus early to enter
upon this branch OF their examination by finding
that the forty.seventh section Of the pen ding bill
provides:-
"That impaired bullion may DC exchanged at any
OF the minis Tor fine bars, on such terms and cOndl.
tons as may be prescribed by the Director OF the
Mint, with the approval OF the Secretary OF the
Treasury"
The committee are informed by eminent mer.
chants OF this city, dealers IN the precious mela ais
and members OF the Chamber that under this Sec
ton the directors ana the secretary Will have
power to MAKE permanent or temporary con-
tracts with the San Francisco Refining and As
saying Works to refine gold and silver for the gov
eminent at the rate or eignt cents per ounce until
the completion Of the new mint In that city. They
gold at the Assay Oce IN this city Is only and
half cent per ounce, which saving has been effected
by employing the new sulphurc acid process IN place
OF the former more expensive process by nitric ACID,
when the contract was made. They are further in.
formed That efforts will maze to sustain this
higher price by preventing, possible, the govern
ment from reducing the present charge or eleven
cents for refining AZ the Mint In san Francisco.