A Jew THOUGHTS concerning a profer MONEY of ACCOUNT.
BY A GENTLEMAN OF VIRGINIA.
(Concluded. J
TIIE pound weight (or 12 ounces) of gold is
in England coined into 441 guineas, conse
quently, the mint-weight of one guinea is 51 -Jdwt.
and so much gold as is equal in value to 20/'. ster
ling, mull be this again is equal to 26/"8,
Virginia currency, at 33ipr. cent, to 35/4, Penn
sylvania currency, at 66| pi - , cent, and to 35/6J,
New-York currency, at 77J pr. cefit.' in which
several State currencies, thole l'umsare eachequal
to 4 dollars 44J, cents ; therefore, so is the pound
sterling, as indeed it ftarids rated by Congress,
'bating the fraction of a cent ; but the penny
weight of gold Hands,moreover, rated at 89 cents ;
inwhicli proportion, the j- 6 -?| dwt.(orpoundfter
ling) would come to 4dollars j7-®¢s, instead
of 4 dollars 44J- cents, which it ought to be ; so
that altho, if the duties be counted firft in pounds
sterling, (as when they are laid ad valorem) and
then turned into cents at the rate of 4 dollars 44
cents, the calculation would be near the truth,
(bat a little to the diiadvantage of the revenue)
ye,t when the payment comes to be made in the
gold coins of France, Spain, England, Portugal,
or any other of equal finenefs, (by the way, is it
certain that those nations all conform, in their
coins, to one common standard .') an allowance
is to be made of 89 cents for every penny-weight,
which will be greatly to the injury of the 1 eve
nue. It ought to be only cents, or (to speak
exatftly) The penny-weight of gold, ra
ted in Virginia at 5/4 (and 1 believe in the fame
proportion by the other States, according to the
difference of their several currencies) would, it
is true, come to about 89 cents, more exactly to
88i ; but, probably, there is a considerable er
ror in ratingthe penny-weight at 5/4 in Virginia,
and the ounceat£.y 6 8 ; it proceeds fromafup
pofirion that the ounce of standard gold is £.4 ster
ling; but is not this over-rating gold? if the above
calculation be right, that are equal to 20/.
sterling, an ounce is only £.3 17 toi, and at the
difference of 33' i is 3 10 Virginia money,
or 5/2 jl-pr. penny-weight, not 5/4. —Minute frac
tions in the sum total of an account are certainly
not worth regarding; but in fixing by law (if
that be ever neceflary) the value of any weight
of gold or lilver, of which there may be many
repetitions in the payment of one account, it
would seem neceflary to be as exadt as poflible,
lpecially when a rule is prescribed by which ma
ny fucceflive accounts are to be adjusted.
To eftablifli a due equilibrium between the va
lue of. gold and of lilver, is not only neceflary
to prevent a diminution of the revenue, it is
moreover a matter of importance in order to guard
against a speculation otherwise very injurious to
the public ; for if gold be, in proportion to lil
ver, rated at either more or less than it ought to
be, the under-valued metal will all be carried out
of the country, in exchange for the other ; and
that, whether the difference arise from railing
the value of the one above its level, or from de
prefiing that of the other—Perhaps, both theie
causes concur here. Gold, with us, seems, for
the reasons above mentioned, to be over rated,
which furnjfhes an inducement to bring it into
the country in order to exchange it for silver. I
do not pretend to be accurately informed as to the
mint weight of any of the English silver coins ;
yet 1 have forrie reason to believe, that as well sil
ver is under-valued by tlieat r t of Congress to re
gulate the collection of duties, as the gold is
railed ; by the double operation of which, the
undue difference between them is rendered con
siderable. The French and English crown
are also put, 1 observe upon the fame footing in
payment of duties, and for any thing I know this
may be right ; yet I had conceived there was
foine difference in favor of the Engli/h.
See publication 011 this fubjeift in the New-York
Daily Gazette of 24th July. I 789, extracted from
the Freeman's Journal, printed in Philadelphia,
July 22d.
In England oz. of fine silver is valved at 62 d.
-J4 oz. of fine gold at 934 1
Consequently, an ounce of fine silver is 67 3 y
And an ounce of fine gold is 1019,4
1019-54 divided by quotes T : so that
in England gold is to lilver as to 1 ;
whereas in France, Holland, (probably) in Europe
generally, the proportion is only about 14J to 1.
In Virginia, ami (I think) throughout the Uni
ted States the difference is still greater than in
England ; for lilver seems in America to be valu
ed at the fame rate as there ; but 44- oz. of fine
gold are raised to 960 d. sterling ; consequently,
the ounce of fine goldis valued at 10 4 1 7 7 4 sterling,
10474 divided by 6 7 T i quotes ijii-V; so that in
America gold is to silver as Is|4f to 1 ; which is
near 2J pr. cent, higher than the English propor
tion. But, by the late regulations of Congress
the proportion is still farther increased. The
ounce of sterling silver fliould, in our new money,
be equal to 1 dollar, 1 dime, 4 cents and ii of a
cent, yet by tliofe regulations the ounce sterling
of silver, the English crown-piece, and the French
crown-piece are each made equal to 111 cents, or
1 dollar, 1 dime, and 1 cent, altlo the Engliffi
crown be but of an ounce, and the French
crown* less weighty than the English: The En
glish crown (or 114*4 cents x ) is equal to
uri cents. But, the ounce of gold is by the
fame regulations valued at 1 780 cents, instead of
1730® , as according to the English -value of gold
it ought to have been. The ounce troy of jlandard
gold being called 1780 cents, and the fame quntity
of jlandard silver ill, the ounce troy of fine gold
mull: be 194 1 T ? cents, and of fine silver 120 ;
which eftabliihes between gold and silver the pro
portion of i6-i4 to 1. For divided by 120
quotes i6 T -f ; and tliisis nearly 6\ pr. cent, above
the English proportion.
' NOTE.
* I am by no means certain of the ftri£t proportion between
the English and French crown-pieces ; thejuftnefs of the obser
vation here made,depends upon the accuracy of a late experiment,
in which the weight of a French crown was compared with that
of in English. The former was a crown-piece coined 1111785,
and to the eye apparently frefh and undiminifhed ; the £nglifh
piece was coined in the reign of George 1 ft, about 4 grains
worn; the French Was about 6 grains lighter than the English.
This fa& forms at leafl a ttrOng presumption that the mint-weight
of the French crown is less than that of the English.
For the fatts on which the calculations proceed the writer is
chiefly indebted to Sir James Stewart.
CONGRESS OK the UNITED STATES.
Begun and held at the City of New-York, on Wedne'fday the fourth
of March, One Thousand Seven Hundred and Eighty-Nine.
An ACT for allowing a Compensation to the
President Vice President of the United States.
BE it enaCled by the Senate and House of Repre
sentatives of the United States of America in Con
grtfi ajfemh/ed, That there/hall be allowed to the
President of the United States, at the rate of
twenty-five thoufanddollars, with the life of the
furniture and other effe'dfs," now in his pofleffion,
belongingto theJUnited States ; and to the Vice-
President, at the rate of five thousand dollars per
annum, in full compensation for their refpecftive
services, to commence with the time of entering
on the duties of their offices refpetftively, and
to continue so long as tlicyfhall remain in office,
and to be paid quarterly out of the Treasury of
the United States.
FREDERICK AUGUSTUS MUHLENBERG,
Speaker of the Hdiife bf Repr'efetitatives.
JOHN ADAMS, Vice-Pref dent of the United States,
and President of the Senate.
Approved, September 24, 1789. v v t
GEORGE WASHINGTON, President of the United States.
PROCEEDINGS OF CONGRESS.
ABSTRACT of JOURNAL of the first session of the SENATE
of the UNITED STATES.
WEDNESDAY, April 15.
(in continuation.)
THE Committee to whom it was referred toconfiderof and re
port refpe&ing the ceremonial of receiving the President, and the
arrangements nectffary for the reception of the Vice-Prcfident,
agreed to the following Report, viz.
41 That Mr. Ofgood, the proprietor of the houfelately occupied
by the President ot Congress, be requested to put the lame, and
the furniture thereof, in proper condition for the refidence&nd
use of the President of the United States, and otherwise, at the
rxpence of the United States, to provide (or his temporary ac
commodation.
" That it will be more eligible in the firft i/iftance, that a Com
mittee of three Members from the Senate, and five Members from
the House of Representatives, to be appointed by the two Houses
refpettivcly,attend to receive the Prcfideirt,at such place as he shall
embark from New-Jcrfey for this city, and cbndu& him without
form, to ths house lately occupied by the President t»f Congress ;
and at such time thereafter as the President shall fignvfy, it will be
moll convenient for him, he be formally received by both Houses.
4 ' That a Committee of two Members from the Senate, and three
Members from the House of Representatives, to be appointed by
the Houses refpe&ively, wait on the Vice President of the United
States, as loon a* he shall come to this city, and in the natne of
the Congress of the United States, congratulate him on his ar
rival."—-Which report was read and accepted.
The Senate proceeded to the consideration of the Report of the
Committee upon rules for conducing business in the Senate, and
after some progress, Adjourned.
THURSDAY, Atril 16.
The Senate proceeded by ballot to the choice of the Commit
tees conformably to the report of the Committee of both Houses,
agreed to the 15th inflant.—Mr. LandgOn, Mr ; . Carroll, and Mr!
Johnson, weie appointed to wajt on the President, and Mr. Ellf
worth, and Mr.Dalton, were appointed to wait on the Vice-Pre
fident.
Ordered, That Mr. Strong, Mr. Izard, and Mr. Lee, be a Com
mittee to report a mode of communication to be observed between
the Senate and House of Representatives with refpeft t6 papers,
bills, and mclTages, and to confer thereon with such Committee
as may be appointed by the Honfeof Representatives for that pur
pose.
The petition of David Ramsay, that a law might pass, securing
to him and hi* heirs r.n exclusive right of vending, &c. his"Histo
ry of the American Revplution," was read.
The Report of the Committee appointed to determine upon
rules for conducing buli'nefs in the Senate, was agreed to. Where
upon,
Resolved, That the following Rules, from No. 1 to No. lq.
inclusive, be observed.
I. The President having taken the chair, and a quorum being
present, the Journal of the preceding day shall be read, to the
end that any miflake may be corrected that shall have been made
in the entries.
11. No member (hall speak to mother, or otherwise interrupt
the butaefs ot the Senate, or read any printed paper, while the
Journals or public papers are reading, or when any member is
lpcaking in any debate.
„ *'"• EVwjtmedfer, when he (peaks, shall address the chair,
itanding in his y.ace, and when he his finilhed shall fit down.
IV. No member (hall (peak more than twieein any one debate
on the fame day, without leave of tbe Senate.
V. When two members rife at the fame time, tbe President
r "i l C 10 speak ; but in a " the member firft
riling shall Ipeakfirft.
y; V^-°" on &all debated, until the fame (hallbe seconded
VII. When action ihall be made and seconded, it (hall be
reduced to writing if desired by the President, or any member
fcalt b7l'b-"r'" table ' v d <cad by th ° Plcfldent ' befo « the fame
VIII. While a queflion is before the Senate, no motion (ball
be received, unless for an amendment, for the previous queA"
or for postponing the main question, or tocomm.it it, ort JO 3 ,
journ. ' °. a .
IX. The previous question being moved and seconded tfc
question from the chair shaH be,- 4 ' Shall the maiti q\ieftio'n h
now put ?" And if the nays prevail, the niain question lhaU n
then be put. ' > ot
X. If a question in debate contain several points anv m* l
may have the foitie divided. . . . ®er
XI. When the yeas and nays (hall be railed for by one fifth of ti
members present, each member called upon (hall, unlets lor fne ?
reasons he beexcufcd by the Senate, decUre openly and unthort d
bates hisafleutor diflent to the question. Jn taking tKe yeas' d
nays, and upon the call of the Ho rife, the names df the me-nlt
lhall be taken alphabetically. . • , frj
XII. One days notice, at least, (hall be given of an intended
motion for leave to bring in a bill.
XIII. Evefy bill fKall receive three readings previous to itj be
ing pal Ted, and the Prcfident (hall give jiotYce at each, whether it
be the firft, second, or third ; which reading (hall-be on three dif
ferent days, unless the Senate unanimously direttothei wife
XIV. No bill lhall be committed 01 amended until it lhall have
been twice read after which it ma'v be referred to a Committee
XV. All committees (hall be appointed by ballot, and a pluralt
ty of votes (hall make a: choice.
XVI. When a member (ball be called so order, he (hall fa
down until the Prefidcnt (hall have determined whether he is j n
order or not; and every question of order (hall be decided bv
the Prudent, without debate : but if there be a doubt'in liis mind
he may call for the sense of the Senate. ;
XVII. If a member be called to order for words spoken th°
exceptionable words (ball be immediately taken down in writ
ing,that the President may be bcttercnablrd to judge of the matter
XVIII. Wheti a blank is to be filled, arid different'films' lhall
be proposed, the question (hall betaken on'{he fiigheft sum firft;
XIX. No member (hall absent himfeif from the service of the
Senate, without leave of the Senate fiift obtained. Adjourned
FRIDAY, April 17.
The petition of Leonard Bleecker, to be appointed Serjeant a'
Arms, was read, and ordered to li£ on the table. Adjourned
SATURDAY, April 18.
A letter from the Speaker of the House to the Prcfident was
read, enclosing a concurrence of the House with the refo've of
theSenatc of' the 15th. upon the mode of Conference between the
Senate and lleprefcntativcs ; alfd a concurfencefiponthe
mode of Chaplains. ; ■■
On motion, Refuhtd, That the following be subjoined to the
(landing orders of the Scnat#.
20th Rule.
Before any petition or memorial, addrefled to the Senate, (hall
be received and read at the table, whether the fartie (hall be intro
duced by the Prefidcnt or a member, a brief statement of the con
tents of the petition or memcfrial (hall verbally be made by the
introducer. Adjourned.
MONDAY, April *20.
The Hon. John Henry, from the (late of Maryland, produced
his credentials, and took his feat in the Senate.
The Hon. James Gunn, from the state of Georgia, produced his
credentials and took his feat in the Senate. v
On motion, Resolved, That Mr. Strong and Mr. Izard be a com
mittee ro wait on rhe Vice-President, and conduct him to the
Senate Chamber. Adjourned.
TUESDAY, April 21.
The Committee appointed on the 20th instant, confiding of Mr.
Strong and Mr. Izard, to conduct the Vice President to the Senat
e executed their commiflion ; and Mr. Langdon, thePre
fident pro tempore, meeting the Vice President upon the iloorof
the Senate-Chamber, addrefled him as follows :
SIR,
I HAVE it in charge from the Senate, to introduce you to the
Chair of this House; and also to congratulate you on your if
pointment to the Office of Vice Prcfident of the United States of
America.
After which Mr. Langdon conduced the Vice President to the
Chair, when the Vice President addrefled the Senate.
[For the Vice President' s Speech, fee our paper of the 22dof April]
WEDNESDAY, APRIL 22.
On motion, the sense of the Senate wrs taken, Whether in the
choice of a Chaplain, they shall be confined to the lift of such gen
tlemen as may be previously nominated ?—Pafled in the negative.
Agreed, That Saturday next be afligned to proceed to the elec
tion of a Chaplain, and that in the mean time, the Members beat
liberty to make their nomination.
The petition of William Finnie, praying that he might be ap
pointed Serjeant at Arms, was read. Adjourned.
THURSDAY, AI'RIL 23.
The Committee appointed on the x 6th of April, toreportamode
of communication to be observed between the Senate and Houfeof
Reptefentatives, with refpeft to papers, billsand melTaees, and to
confer thereon with such Committee as may be appointed, by the
House of Reprcfentativcs for that purpose, have conferred with a
Committee of the House, and have agreed to the following Report:
When a bill or other meflage (hall be sent from the Senatetotbe
House of Representatives, it lhall be carried by the Secretary, who
(hall make one obeifanceto the Chair oh entering the door of the
Houle of Representatives, and another, on delivering it at the table
into the hands of the Speaker—After he (hall have delivered it, fie
(hall make an obeisance to the Speaker, and repeat it as he retires
from the House.
When a bill (hall be sent up by the House of Representatives to
the Senate, it shall be carried by two Members, who, at the bar ot
the Senate, (hall make their obeifanceto the President, and thence
advancing to the Chair, make a second obeisance, and deliver it
into the hands of the President—Aster having delivered the billj
they (hall make their obeisance to the President, and repeat it as
they retire irom the bar : The Senate Shall rife on the entrance ot
the Members within thebar,and continue stand ing until they tftire.
All other meflages fropi the House of Representatives, lhall be
carried by one Member, who (hall make his obeisance as above
nentioncd : but the President of the Senate alone, (hall ril#.—Rea
md accepted.
On motion, Resolved, That a Committee, confining of three
Members, be appointed toconfidei and report, what Style or Tu »
it will be proper to annex to the office® ol President and of V"*
President of the United States—if any other than those givenin t -
Constitution. Alio to consider of the time, place and manner rtn
which, and the person by whom the oath prelcribed by the Con 1
tution, (hall be administered to the President; and to con
on with such Committee as the House of Representatives lna ap
point for that pUrpofe.—Mr. Lee, Mr. Izard, and Mr. W
were chosen. Adjourned.
FRIDAY, APRIL 24. ,
On motion, The question was taken, Whether the report ol
Committee upon the mode of communication between the tw
Houses of Legiflatdre, as yeftefday read and accepted in t
nate, shall at this time be lent to the House of Reprefentauvc.
Palled in the negative. • , ec
On motion, To raconfider the commiflion ot the Com lll '
appointed the 23d instant, to report what Titles (hall be ann
:o the Offices of President and Vice Prefident —Pafled in
..,< c
On motion, That the following words, t( What Titles it wi
proper to annex to the offices of President and ol Vice Pre l
the United States—if any other than those given in the 0
tion," be struck out—Pafled in the negative. <«Title,"
On motion thatthe words <c Style ar," before the wor
be added— Pafled in the affirmative. Adjourned.^
I Publiflied by JOHN FENNO, No. '
iiXN±','nearthe (ifiiegi-Mark'tt, Nsw-Yo'*k.—[3®"'