Report of the Secretary of the Treasury, on the fubjeift of a Mint. (concluded.) IT is conceived that the weight of the cent may be eleven penny weight, which will about correspond with the value of the copper and the expence of the coinage. Thia will be to conform to the rule of intrinsic value, as far as regard to the convenient size of the coins will permit; and the deduction of the expence of coinage in this cafe will be the more proper, as the copper coins, which have been current hitherto, have passed till lately for much mor,e than their intrinsic value. Taking the weight, as has been fuggcfted,|the size of the cent may be nearly that of the piece here with transmitted, which weighs todwt. ugrs. 10m. Two thirds of the diameter of the cent will fuflice for the diameter of the half cent. It may perhaps be thought expedient, according to general praflice, to make the copper an of profit; but where this is done to any considerable extent, it is hardly poflible to have effedual security against counterfeits. This confederation, concur ring with the soundness of the principle of prelerving the intrin sic value of the money ot a country, seems to outweigh the confi d ration of profit. The foregoing l'uggeiliom, refpefting the fizesofthe several coins, are made on the fuppohtion, that the legislature may think fit to regulate this matter : perhaps, however, it may be judged not un advifeable to leave it to executive discretion. With regard to the proposed size of the cent, it is to be con fefitd, that it is rather greater than might be wished, if it could "with propriety and fafety be made less : and should the value of copper continueto decline, as it has done for iome time past, it is very queflionable, whether it will long remain alone a fit metal for money. This has led to a confederation of the expediency of uniting a small proportion ot silver with the copper, in order to be able to leflen the bulk of the inferior coins. For this, there are precedents in several paitsof Europe. In France, the composi tion, which is called billion, has confided of one part silver and four parts copper ; according to which proportion, a cent might contain seventeen grains ; defraying out of the material the ex pence of coinage. The conveniency of size is a recommendation ot such a species of coin; but the secretary is deterred from pro posing it, by the apprehension of counterfeits.—The effc£l of so small a quantity of silver, in, comparatively so large a quantity of copper, could easily be imitated by a mixture of other metals of little value, and the temptation to doing it would not be incon siderable. The devices of the coins are far from being matters of indiffer ence,as they may be made the vehicles of ufeful impreflions. They ought therefore to be emblematical, but without lofmg fight of simplicity. The fewer sharp points and angles there are, the less will be the loss by wearing. The lecretary thinks it btft, on this head, to confine himfelf to these concise and general remarks. The last point to be difcufTed, refpe&s the currency of foreign coins— The abolition of this, in proper season, is a necessary part of the system contemplated for the national coinage. But this, it will be expedient to defer, till some coniiderable progress has been made in preparing fubflitutes for them. A gradation may therefore be found moil convenient. The foreign coins may be fuffered to circulate, precisely upon their present footing, for one year after the mint fliall have com menced its operations. The privilege may then be continued for another year to the gold coins of Portugal, England and France, and to the lilver coins of Spain. And these may dill be permit ted to be current, for one year more, at the rates allowed to be given for them at the mint ; after the expiration of which the cir culation of all foreign coins to cease. The monies, which will be paid into the treasury, during the firft year, being recoined, before they are iflued anew, will afford a partial substitute before any interruption is given to the pre-ex iftmg supplies of circulation. The revenues of the succeeding year, and the coins which will be brought to the mint, in confc quence of the discontinuance of their currency, will materially ex tend the substitute, in the course of that year, and its extenfton will befofar encreafed, during the third year, by the facility of procuring the remaining species to be recoined, which will arise from the diminution of their current values, as probably to enable the dispensing wholly with the circulation of the foreign coins, after that period. The progress which the currency of bank-bills, will be likely to have made, during the fame time, will also afford a substitute of another kind. This arrangement, besides avoiding a sudden flagnation of cir culation, will cause a considerable proportion of whatever loss may be incident to the establishment, in the firft instance, to fall, as it ought to do, upon the government, and will probably tend to diftributc the remainder of it more equally among the commu nity. It may nevertheless be advifeable, in addition to the precautions here suggested, to repose a discretionary authority in the Pre sident of the United States, to continue the currency of the Spanifli dollar, at a value corresponding with the quantity of fine silver contained in it, beyond the period above mentioned for the epila tion of the circulation of the foreign coins. It is poflibte that an exception in favor of this particular species of coin may be found expedient ; and it mav tend to obviate inconveniences, if there be a power to naake the exception in a capacity to be exerted when the period shall arrive. The Secretary for the department of State, in his report to the House of Representatives, on the fubjett of eftablilhing a uniform ity in the weights, measures and coins of the United States, has proposed that the weight of the dollar should correspond with the unit of weight. This was done on the supposition, that it would require but a very small addition to the quantity of metal, which the dollar, independently of the objedl he had in view, ought to contain ; in which he was guided by the relolution of the Bth of August, 1786 —fixing the dollar at 375 grains and 64 hundredths of a grain. Taking this as the prop r standard of the dollar, a Imall altera tion for the fake of incorporating so systematic an idea would ap pear deferable. But if the principles which have been reasoned from, in this report, are just, the execution ot that idea bccomes more iitr.cult. It would certainly not be advifeable to make on th it account, so considerable a change in the money unit, as would be produced by the addition of five grains of silver to the proper we?ght of the dollar, without a proportional augmentation ot its relative value. And to make such an augmentation would be to abandon the advantage of prefcrving the identity of the dollar, 01 to speak more accurately, of having the proposed one received and considered, as a mere substitute lor the present. The end may however be obtained without either of those in conveniencies, by encreafing the proportion of alloy in the silver coins. But this would destroy the uniformity, in that refpeft, between the gold and silver coins. It remains therefore to elett which of the two systematic ideas fnall be pursued or relinquished. And it may be remarked, that it will be more easy to convert the present silver coins into the proposed ones, ifthefe last have the fame, or near ly the fame proportion of alloy, than if they have less. The organization of the mint yet remains to be considered. This relates to the persons to be employed, and to the services which they are refpettively to perform. It is conceived that there ought to be A dirtftor of the mint, to have the general fuperintendance oi the business. An a flay matter, or aflayer, to receive the metals brought to the Siiint, afcertatn their finenefs, arid deliver them to be coined, A master coiner, to condutt the making o£ the coins. A cashier, to receive and pay them out. An auditor, to keep and adiuft the accounts of the mint. Clerks, as many as the directors of the mint (hall deem neces sary, to afljlt the different officers. Workmen, as many as may be found requisite. A porter. In several of the European mints, there are various other offi cers, but the foregoing arc those only, who appear to be indispen sable. Persons in the capacity of clerks will fuffice instead of the others, with the advantage of greater economy. The number of workmen is left indefinite, because, at certain times, it is requisite to have more than at others. They will, how ever, never be numerous. The ex pence of the establishment, in an ordinary year, will probably be from fifteen to twenty thou sand dollars. The remedy for errors in the weight and alloy of the coins mufl necefTarily form a part in the system of a mint ; and the manner of applying it will require to be regulated. The following ac count is given of the pra&ice in England, in this particular. A certain number of pieces are taken promiscuously out of eve ry fifteen pounds of gold coined at the mint, which is deposited for fafe keeping in a strong box called the pix. This box, from time to time, is opened in the presence of the lord chancellor, the officers of the treasury, and others ; and portions are fele£ted from the pieces of each coinage, which are melted together, and the mass afTayed by a jury of the company of goldsmiths. If the im- P'Ttettion and deficiency both in the finenefs and weight, fall ihort of a sixth of a carat, or 40 grains of pure gold upon a pound of standard, the mailer of the mint is held excusable ; because it is supposed that no workman can reasonably be answerable for greater exa&nefs. The expediency of some similar regulation feeras to be manifeft. ALL WHICH IS HUMBLY SUBMITTED, LAWS OF THE UNION. CONGRESS OK THE UNITED STATES: AT THE THIRD SESSION, Begun and held at the City of Philadelphia, on Monday the sixth of December, one thousand seven hundred and ninety. An ACT fixing the Time of the next annual Meeting of CONGRESS. BE it enabled by the Senate and House of Representatives of the United States of America in Congress allembled, That after the third day of March next, the firft annual meeting of Con gress (hall be on the fourth Monday of October next. FREDERICK AUGUSTUS MUHLENBERG, Speaker of the House of Representatives, JOHN ADAMS, Vice-Prefdent of the United States, and President of the Senate. Approved, March second, 1791. GEORGE WASHINGTON, President ofthe United States, Deposited among the Rolls in the Office of the Secretary of State. THOMAS JEFFERSON, Secretary of State An ACT supplementary to thea(st, entitled " An Adl to incorporate the subscribers to the Bank of the United States." BE it enacted by the Senate and House of Representatives of the United States of America in Congress assembled, That the fubferiptions to the stock of the Bank of the United States, as pro vided by the ast, intituled, " An ast to incorporate the subscribers to the Bank of the United States," shall not be opened until the firft Monday in July next. And be it further enacted, That so much of the firft payment as by the said ast is direftea to be in the fix per cent, certificates of the United States, may be deferred until the firft Monday in Jan uary next." And be it further enacted, That no person, corporation, or bo dy politic, except in behalf of the United States, (hall, for the space of three months alter the said firft Monday in July next, fub feribe in any one day, tor more than thirty (hares. And be it further enacted, That every fubferiber shall, at the time of fubferibing, pay into the hands of the persons who (hall be appointed to receive the fame, the specie proportion required by the said ast to be then paid. And if any such fubferiber shall fail to make any ol the future payments, he shall forfeit the sum so by him firft paid, for the use of the corporation. Arid be it further enatted, That such part of the public debt,in cluding the ailumcd debt, as is funded at an interest of three per cent, may be paid to the bank, in like manner with the debt fund ted at fix per cent, computing the value of the former at one half the value of the latter, and reserving to the subscribers who fiiall have paid three per cent, flock, the privilege of redeeming the fame with fix per cent, stock, at the above rate of computation, at any time before the firft day of January, one thousand seven hun dred and ninety-three ; unless the three per cent, stock shall have been previously disposed of by the dire&ors. FREDERICK AUGUSTUS MUHLENBERG, Speaker of the House of Representatives. JOHN ADAMS, Vice-President of the United States, and Prejident of the Senate. Approved, March second, 1791 GEORGE WASHINGTON, Prejiient of the United States Deposited among the Rolls iri the Office of the Secretary of State THOMAS JEFFERSON, Secretary ojState. An ACT to explain and amend an A<fl, intituled " An Acft making further Provilion for the Payment of the Debts of the United States." BE it enacted by the Senate and House of Representatives of the United States of America, in Congress aifembled, That the duty of one cent per pound, laid by the ast " making further pro vision for the payment of the debts of the United States," on bar and other lead, (hall be deemed and taken to extend to all manu factures wholly of lead, or in which lead is the chief article, which shall hereafter be brought into the United States, from any foreign port or place. • And be it turther ena&ed, That the duty of seven and a half per cent, ad valorem, laid by the a& aforefaid, on chintzes and colored calicoes, (hall be deemrd and taken to extend to all printed,ftain ed and colored goods, or manufactures of cotton, or of linen or of both, which hereafter lhall be brought into the United States trom any foreign port or place. Provided always, That nothing in this a£l {hall in any wile af left the true conftru&ion or meaning of the a£l aforefaid, in rela tion to any of the above defcribcdarticlts biought into the United States before the palling of this act. FREDERICK AUGUSTUS MUHLENBERG, Speaker of the House of Representative! JOHN ADAMS, Vice-President oj the United States. and Prejident of the Senate. Approved, March second, 1791 GEORGE WASHINGTON, President of the United States Deposited among the Rolls in the Office of the Secretary of State* THOMAS JEFFERSON, Secretary of State' ICP A few copies of the CONSTITUTION of the United States, printed with Notes, may be had of the Editor. 776 ALEXANDER HAMILTON, Secretary of the Treasury. Philadelphia, February 44th, 1791. PROPOSALS FOR PRINTING BY SUBSCRIPTION, A COLLECTION of STATE PAPERS, INTENDED AS MATERIALS FOR AN HISTORY OF THE UNITED STATES OF AMERICA. By EBENEZER HAZARD, A. M. IN this collection will be contained the Cmart*rs of the feveial states which now compose the Union ; —the Recordi of the United Colon iesof Ne w-Enc la nd Royal Inftiuc tions to Colon lal Governors ; —Ext rac ts from Pu bl 1« Records ; —and other authentic Documents tending to elucidate our History. The design of this compilation was intimated to Congress, and honored with their approbation.— On the 20th July, 1778, their committee, to whom his memorial was referred, reported it as their " Opinion, that Mr. Hazard's undertaking is laudable and deserves the public patronage and encouragement, as being pro ductive of public utility;" Whereupon they * s Resolved, That it be recommended to the Governors, Prefidcnts, and Executive Powers of the several states in the union, to aflift Mr. Hazard,and give facility to his labors ; and that for this purpose he be admit ted to an infpe&ion of public records, and be furnifhed without expence with copies of such papers as he may judge will conducc to the valuable end he hath in view. He was, of consequence, admitted to the infpeftion and use both of public records, and the collections made by individuals, from whence this compilation (much the largest he has ever met with on the fubjeft, and, he flatters himfelf, the largest ever made ia America) was formed. It has since met the approbation of manv eminent charafters,and even in its manuscript state, has facilitated the settlement of some important controversies. The compiler cannot suppress the following letter from the honor* able the Secretary of State, to whose infpeftion part of the com pilation was submitted, as it contains so flattering and refpefta ble a testimony in favor of the importance of thowork. " Philadelphia, February 18,1791. S //?, I return you the two volumes of Records, with thanks for the opportu nity of looking into them :—they are cur ions Monuments of the Infancy of our country. 1 learn with great fatisfaftion that you are about com mitting to the Press the valuable Hiflorical and State Papers you have been so long colleuing. Time and accident are committing daily havoc on the originals deposited in our public offices : the late war has done the work oj centuries in this business : the loft cannot be recovered; but let usfave what remains ; not by vaults and locks, which fence them front the public eye and use in consigning them to the wajle of time, but by fuck a multiplication of copies as Jhall place them beyond the reach of accident; this being the tendency of your undertaking, be ajfured there is no one who wifhzs it a more complete success than, S IR, Your mojl obedient and mojl humble Servant, Mr. Hazard CONDITIONS. I. The Work to be published in numbers, each containing 160 pages, large quarto :—A number to be delivered every three months. 11. On delivery of the firft Number, payment to be made for the firft and second, and afterwards for each Number as delivered (except the last) so that the price of one Number will beconftant ly in advance. The very great expence attending so large a work, at the fame time that it renders this condition abfojutely necessa ry, will be a fufficient apology to the candid for its insertion. 111. The price to Subscriber? will be one Dollar for cach num ber. It is supposed that the Work will probably be comprised in eight Numbers, forming two handsome Volumes, in large quarto, printed on a neat Type and good paper. IV. To those who choose to fubferibe for the Work in Vo lumes, the price will be Four Dollars and a Quarter of a Dollar, for each Volume, in boards. V. The collection will be put to the Press as soon as there (hall be a fufficient number of fubferiptions to juftify an hope that the expences will be defrayed. who receive Subjcriptious will please trdnjmit accounts oj the numbers obtained to Thomas Dobfon, No, 41, Second-Jlreet, Phila delphia, by thejijl of May next. Subscriptions will be received in Portsmouth, (N. H) by Jeremiah Libbey; Softon, Thomas Sc Andrews; Worcester, Isaiah Thomas; Hartford, Thomas Hildrup ; New-Haven, lfaac Beers; New-London, Timothy Green ; Newport, (R. I.) Jacob Richardson ; Providence, John Carter ; New-York, Hodge, Al len & Campbell ; Albany, Abraham G. Lanfing ; Philadelphia, 1 homas Dobfon, and Hazard Sc Addoms ; Wilmington, (Dela ware) Frederick Craig; Baltimore, I. Holmes; Alexandria, Jo shua Merriman ; Norfolk, Mr. Linafey ; Frederickfburgh, Cal lender and Henderfon ; Peterfburgh, John Grammer; Rich mond, Augustine Davis ; Newbern, (N. C.) F. X. Martin; Wil mington, John Bradley ; Charleston, (S. C.) William P. Young. PUBLIC NOTICE. Somcrfct County, fl". BY virtue of a writ of Jieri facias tome dire&ed, against the goods and chattels, lands and tenements of Christopher Beekman, I have levied on, and seized that valuable ho life and lot of land, situate on the north fide of the Main Street, in Prince on, now in poffeflion of Adam Shaw, and known by sign of the College ; it is an excellent {land for a public house, and has been occupied in that way for many years. All the above mentioned premises will be exposed to sale, on Thursday the tenth day of March next, between the hours of twelve and five in the afternoon of said day, of which all persons concerned will please take no ice ;_ _ _ _ WILLIAM WALLACE, Sheriff. Wcjltrn PrecinS, 18ih February, 1791 PROPOSALS FOR PRINTING BY SUBSCRIPTION, A COLLECTION OF MISCELLANEOUS ESSAYS, Partly original, and partly already publifhcd) Written by Mathew Carey. !• r I "'HE Work (hall contain 200 pages ; be printed on the X fineft writing paper ; and be elegantly bound, edge rolled and lettered. 11. Price to fubferibers two thirds of a dollar, to be paid on the delivery of the book. 111. Ihe work shall be put to the press as soon as 250 copies are fubferibed for. The fubferibers names shall be prefixed SUBSC-RIPTIONS are received by Carey, Stewart? and Co. and all the other Booksellers in Philadelphia; also, by the different gentlemen throughout the United States, who supply Icribers with the AmericanMufeura, Philadelphia, Feb. 23, 170 X THOMAS JEFFERSON." CONDITIONS.
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