Capital journal. (Salem, Or.) 1893-1895, 1895-01-01
THE BEAVER COINS.
History of 0regon's Private Mint of
Yore.


Yore.
The following letter now on file In
the secretary of states Office explains
itself, and Is here published for the
first time.
OREGON CITY, Aug. A, 1866.
| Hon. SAMUEL Il. MAY,
Secretary of State OF Oregon.
Sir:-In reply to yours Of 18th ul-
timo, requesting history of the mint,
established in lS49, give you brief
account. Upon the discovery of the
Aold mines and the consequent rush of
miners, for nearly every man that went
to California at that time became a
miner, and the great demand for sup
plies to clothe and feed them. Oregon
very naturally sent great number of
her population, together with all the
supplies that she could spare from her
immediate wants, receiving In return a
large amount of gold dust of the most
superior quality, taken from the Feather
and Yuba rivers principally.
Nearly every man brought gold dust
with him on his return to Oregon ,and
finding that great annoyance and
waste accompanied the payments of
small sums ia dust, was naturally anx-
ious to dispose of suiiiciency of dust for
coin to meet his immediate demands.
There being but little coin In the coun-
try at that time, caused our influx from
the nearest points where it could be
obtained, viz: South America; and as
the debasement Of the currency OF
nearly all Of the South American
states was great and notorious, 30
much so, in fact, that upon my return
from the Atlantic side In the latter
part of l847, before the gold mines
were discovered, that they did not hes
itate to give me, during my stay In
Panama, twenty-five OF their nominal
quarters OF dollar In exchange for a
United State half eagle coin, and when
you take into consideration that very
large amount Of gold dust, the Intrin.
sic value Of which was between eigh-
teen and nineteen dollars per ounce,
was being daily exchanged at the rate
OF eleven dollars per ounce, payable
In this debased South American coin
at the rate OF four Of these nominal
quarters Of a dollar 10 the dollar, you
will SEQ ut once the enormous loss Ore
g0n was sufiering-the double discount
on the gold and coin. A small party OF
gentlemen met at the counting room OF
Campbell a Smith 10 take the fore
g0liDg matter into consideration, aud
concluded, for the general benefit Of the
country, 10 form company for the
purpose of eoIning the dust into q
shape that would be Of par value at
any place where gold coin was used.
The namt Of the parties that paid for
tbe machinery, dies, ele, aud that Ia,
CURED aud lost the whole expenses of
tbe Transaction, we're kilb0rne, Magen-
deI, Taylor, Rector Campbell aDd
smith,
The design " lhe dies WAS dfawn
ny myself ~ tho nTsl mestlng " the
company, and immediately adopted
~ being appropriate, I'he tann on
goods exchanged w tho Hgdson Hay
Company for fufs lof which beaver
money WAS lhe maln lism in Oregon
belDg much lens ihan cola, beaysF
orders 0n the Hudson iisy compspy
seIe considered .lhe besi money ln ibs
00uniIy,
A. spop ~ se e0mmsnosd np klnR
lbe eolp, geld dual foss ~ plsissp dol
lsIs peF ounce, ~ shieh gaie No "a
ehanRed epT eolp ipl dusi, ghsn ~ ~
llufsisdi AlieI bsYibR lasuad s0las isn
thousand dellsls, snd broken both VI
opl eIuelblss lsf bad sllh Bueh Bou.
bio 0nly bsen Hble " pl0eufe is0 snd
hAFlnR fllsoled guI 0lJeoi Wa lialnsa
lhs pIlee " sud dust sgq stopped ihs
lnhls NJ kaplh ABleilesn epuppey,
sna eYslg lases ibsi ~ eplnea belns
n lhe fsl*a's ~ lhe epmpsgy, ~ eas
pludfd ~ esase 0lslsllQnp, sHd ala ~.
slsQ ssg9 geg lhs dlss, shleb, n
yap ffs plelaI wppld iits ~ hsYe
isla.slisa sllh lbs llV piees yap NJ
lsaf ". ihsg wele msas ~ W, a.
lissiel spa ilslslliee lsgpl,sll Nv Ols
! ~
bass lhe besgl " ~, ysps Isslsoi,
pllgi
20 OAHfRTiE
hs,.es,ls ~ la4 JoDAsA1