The Waterbury Democrat., 1939-03-30

the need for real medium of ex- change was so acute that no at- tempt was made to prosecute the coiaers. nnasmuch as no action was ever taken against the Bechtlers or Templeton Reid, it was probably as- sumed by those engaged in the pusi- ness of coinage that they were to a certain extent, acting within their rights.
 Early in 1849 these private issues began to appear in circulation. It has been stated that probably the first of these were the five-dollar issues of Norris, Grieg, and Norris, struck at Benicia City, though the imprint is San Francisco. Rectang- ular ingots of gold were struck by Moffat and Co.,, who were doing business in San Francisco in the summer of 1849. In July of 1849 a circular coin of ten dollars denom- nation bearing their stamp appear ed the first of this type to be struck in California.
 During the latter part of 1849 great many issues were placed in circulation as certain companies in the East came to California bring ing their own machinery for coining. Many of these pieces resembles reg ular U. S. coinage, while others bore original emblems and devices. Along with the California issues, it Is in- tereSting to note that Mormon coins from YTtot m So &t,ai. e y,y,oo ro n ,ca iy1 general circulation at about this time. These were known as Great Salt Lake City Pure Gold" coins. However it did not take long to re- veal that the net value of these pieces was considerably below par, consequently this first fell into dis repute and eventually were refused in regular channels of trade.
 Beaver Coins" Interesting
 The next to make their appear ance from a neighboring territory were the five and ten-dollar denom- nations of the Oregon Exchange company. These were the so-called Beaver Coins" and due to their his- torical background constitute very interesting series. The dies for these issues were engraved by Hamilton Campbell, a Methodist missionary who had come to Oregon by ship around Cape Horn. The machinery for coining was built by Thomas Powell, a blacksmith from Salem, Oregon. It has been said that he used scraps of iron and the tires of of wheels that had crossed the plains in an effort to obtain enough iron with which to construct the equipment for rolling and stamping coins. He was allowed one dollar per pound for all iron used in his work. For men so little experienced in the art of coining gold, it must be said that their work was dis tinct credit to them. These coins were of excellent quality compared with other private issues and unlike the Mormon coins were accepted at par.
 Most of the other firms began to disappear in 1850 until Moffat and Company alone remained the sole survivors of those hectic days of California gold coinage of 1849. However, two new concerns. Baldwin and Company, and Dubosq and Company made their appearance in 1850. To correct many of the evils associated with early California cur- rency it was proposed that there be established State Assay Office of gold. Although the creation of this office had been contemplated as early as 1848, it was not until April 20, 1850, that bill passed by the California Legislature creating the office of State ASsayer became law. About eight days prior to the passage of this bill, while the Legis- lature was in session, petition was addressed to Governor Pet Burnett by prominent citizens of San Fran cisco, requesting that Frederick D. Kohler be appointed State Assayer. Upon the enactment of this act this request was granted.
 Kohler Becomes Assayer
 MT. Kohler, jeweler of New York city, joined the gold rush of 1859 and had for short time conduct ed private gold assaying establish ment in San Francisco in partner ship with David c. Broderick, who later became U. S. senator. While 1t is not definitely known, it is sup- posed that this concern had coined the ten-dollar pieces bearing the imprint of the Pacific Company dated 1849. MT. Kohler, however. af- ter his appointment to the office of State Assayer, sold out his private interest to Baldwin and Co.
 The issues of the State Assayer were square and also rectangular ingots or bars, which had first been cast and then finished with ham, mer. The law specified that upon these there must be stamped the the true value in dollars and cents, the correct weight and carat fine- ness in accordance with the U. s. Mint Standard, also the letters, "Cal," in date, the assayer's initials over the words, "State Assayer," and upon each end and side of ingot so issued. some uniform stamp or im- precision.
 Probably most interesting to the numismatist is the fact that the State Assayer Office was the only one of the kind to operate under the authority of a state. Further more it would appear that in au- thorising such issues, that California had violated a clause of the United | States Constitution which made 1t | for any state to issue cur rency. It is also interesting to note | that the issues of this office were | the first to be known as "slugs" which title was subsequently, ap- piled to the $50,000 cctagon gold pieces of the U. s. Assay office. The State Assay Office had been func- tioning less than one year when 1t was abolished, due to the fact that the U. s. Assay office began operat- ing Feb. l. 1851. !