The New Orleans daily Democrat. [volume] (New Orleans, La.) 1877-1880, 1878-04-07
RE-ESTABLTsHMENT OF THE NEW
ORLEANS MINT.

RE-ESTABL1SHMBNT OF THE NEW
ORLEANS MINT.
In view Of the immense local advantages
New Orleans Is destined toderive from the re
monetization OF silver, DecessitatiHg as Il
must the re-establishment OF our mint, anf
thus incidentally but directly affecting oul
commerce more, perhaps, than any other meas
ure that has been before the country since the
war, II must appear very strange TO our bust
ness community that. Of all our city press
the DEMOCRAT was the solitary champion Of
the silver bill pending its discussion In Con
gress. Now that our local interest in that
measure has been rendered apparent by the
& DEMOCRAT, end since the reconciliation OF
silver is an established fact, we hope we can
4 safely appeal to our enlightened coptempora-
ries TO Join with US In our efforts to secure the
passage OF Senator Eusis' bill, making an
appropriation for the re-establishment Of our
mint. This Is as little as they can do, consid-
erinr their clamor for the Eastern and alien
bondholders as against the peculiar CONNER
cial interests vi this city on the original prop
oeition. These local interests, we believe
aside from all considerations of national
finance abundantly justified the position the
DEMOCRAT took upon the silver bill; but these
considerations appear to have been lost upon
our contemporaries, or else they have proven
themselves strangely ignorant Of the com
mercial interests Of New Orleans.
The superior facilities OF New Orleans over
any other city for the purchase and recoinage
Of silver are considerations which Congress
cannot disregard through Difference to any
influence or interest OF a merely local charac-
ter. Those advantages, which are of q purely
national character, were established beyond
HeFaapeHture by the statements Of Mr.. Ben
zano, thesuperntendento Of the mint, and of the
different firms engaged In the Mexican trade,
published in the DEMOCRAT OF Friday last.
It Is hardly necessary for us to do more than
enumerate the reasons which make the re-
establishment Of our mint almost necessity
to the government. The advantages to result
from II have doubtless long since been thor
oughly digested by Mr. Eustis and commend
ed to the country by the shrewd common
sense Of Mr.. Robertson, Mr.. Elan and Mr..
4 Acklen, the adroiness and address of Gen.
Gibson, and the persuasive eloquenoe of Mr..
Ellis. We call these gentlemen by name in
order to make our appeal to them, to use
their utmost exertions to secure the re-es-
Establishment oflour mint, as nearly personal
az possible.
AS we have said before. there has not been
before Congress since the war a single meas-
tlre which so vitality concerns the material
interests Of New Orleans as this. To begin
with, the government has here already very
valuable property, consisting Of real estate
and machinery, which can be replaced else
where only at an immense cost. The real
Z estate alone Mr.. Bonzano estimates at half a
million dollars, while the machinery, second In
capacity only to that OF the Philadelphia mint,
he says cannot be replaced for less than $780,
600. Itwould cost, he thinks, not less than one
million of dollars to establish at any other
point mint equal In capacity to the one
here, besides the loss that must result from
the abandonment Of the property, which,
according to his estimate, it will take but
900 to put in thorough working order and
TO run for one year.
This circumstance is, however, compare
lively Of but minor Importance when we take
Into consideration the superior facilities New
Orleans possesses, resulting from her prox-
Unity to the immense silver supply of Mexico.
for obtaining all the bullion that Is necessary
TO the carrying out of the policy of the gov
eminent looking to the reconciliation of
silver. With the addition OF two extra
coming presses, at an expense of $4,000,
our mint will be able to turn out ten
millions OF dollars year In silver.
This immense supply can be obtained
here under circumstances more favorable and
cheaper to the government by at least two
and a half per cent than it can be had else
where The first supply of bullion needed
under the silver bill was obtained in Europe.
but 1t all came originally from Mexico, and
would be obtained here in future upon the same
terms on which 1t was originally delivered
III the markets where it was purchased by the
gov ,rnment, free from the expenses of trans
portation, insurance and brokerage incurred
by Its shipment to Europe and thence back to
this country. These advantages are peculiar
to New Orleans and, II the United States are
to derive their silver supply from Mexico
they must do 1t directly through the mint at
this point, or else indirectly and at a greatly
augmented expense by way Of Europe.
q Silver, as it Is received here from Mexico
whether coined or in bullion, Is nothing else
than commodity of commerce, a medium
of exchange for merchandise, just as coffee
Is. AS commodity, Mexican silver has
been driven from this market solely by our
lack of mint facilities. Re-establish these.
and we would Immediately recover
It, together with the reciprocal trade
that we once had with Mexico. Now,
whatever silver is received here must
be shipped at additional charges for
brokerage, insurance and expressage to Phil |
adelphia, where it is recoined. All of these
expenses are saved to the Mexican simmer
by forwarding it to Europe, where he, of ne
cessity, makes his purchases of merchandise.
The establishment Of the New Orleans mint
will save these additional charges. and. bv