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Dr.

General statement of the bank of the U. States and its offices of discount and deposite, at the dates specified therein.

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PROFIT AND LOSS STATEMENT. The Debtor side consists of a number of items, which we consolidate, to save room, as they are apa. parently of no general importance to a full understanding of the subject Permanent expenses-at the bank from 1st Jan. to 30th June, 1818 and at the offices from 1st Jan. to 30th May '.

• • . $11.876 43 Current expenses, at the bank from 1st Jan. to 30th June, 6 mo.

41,161 70 do. 'do. at the several offices, from 1st Jan, to 30th May, 1818-the highest at Baltimore, $16,144 50, and at New York nearly as much; the lowest at Fayetieville, 2,084; at Boston only 2,835 55, &c. . . . . . .

• • • 130,170 89 Sundry losses • • • • •

• . 1 689 89 For Bonus . . . . . . . . . . . . . . . 45,000 00 Expenses of importing specie ..

86,250 57 3rd dividend-at 3 per cent. ..

1,225,000 00 BALANCE

91,151 37

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The Creditor side is thus stated, and given in detail that a general idea may be formed of the business

transacted at the several offices, &c.

Do.

Balance per general ledger : .

$49,964 38 Discount received at bank United States, to this day . . . . $347,138 26 Exchange

do.
. de

4,004 31 Interest received on funded debt.

8202,073 54 ; do from banks, &c. . .

24,240 65_ 226,314 19–577,456 76 Discount received at'office, Portsmouth, to 30

7,105 69 Boston

• • • 28,448 00 Exchange do. .

. . 69 18 Interest do. . . . . . .

177 45.-28,694 63 Discount Providence,

12,065 68 Middletown

9,444 64 Do. New York

. . . . 67,382 04 Exchange do,

. . 110 00 Interest • do..

: - 1,551 20---69,043 24 Discount Baltimore

. . . 294,260 11 Exchunge do.

. 17,280 06 Interest

do. .

. . . . 754 92_-3i2,295 09 Discount Washington

. 42,426 72 Interest do. .

18,418 85-.-60,845 57 Discount Richmond ,

92 001 24 Norfolk .

40,462 74 Fayetteville ·

• 12,320 66 Exchange do. .

• 548 51----12,869 17 Discount Charleston

61,850 11 Do.

Savannah . . . . . . • 23,567 11 Exchange

do. . . . . . . : 20,283 60—.-43,850 71 Discount Lexington

• 40,860 20 Exchange

do. . . . . . . . , 26,543 77 Interest do. .

- 3,527 09----70,931 06 Discount Louisville

• 17,457 76 Exchange

do. • • • • • • • . 2,437 79 Interest

do. • . • • • • • • 7,861 12---27,756 67 Discount

Chillicothe . . . . . . . . 10,627 34 Exchange

do. . . . . . . . . 4,332 84 loterest

do. . . . . . . . - - - 1,035 48--15,995 Discount

Cincinnati . . . . . . . 46,080 61 Exchange do. . .

. 10,006 44 Interest

. . . . . . . . 14,568 77---70,655 82 Discount

New Orleans . . . . . . . 34,601 28
do.

12.317, 64---46,918 92 Discount

Pittsburg . . . . . . . . 19,006 44 Exchange do. . . . . .

- 3,105 63---22,112 07

Do. Do.

60

Exchange

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Bank of the United States, July 6, 1818.

There are several other tables annexed—but, from a careful examination of them, we cannot see that they can be useful to the public at large, and are omitted. We thus conclude the series of papers and documents accompanying the most laborious report of the committee.

On Foreign Coins.

,out silver, would be able to prepare and strike about

7,000 pieces per day, or 35,000 per week, reckoning TREASURY REPORT.

only five working days in the week, to allow for una- . Treasury department, 6th January, 1819. voidable accidents and interruptions. - Sin-In reply to your letter, enclosing a resolu- Query 2d. “What number of dollars?” 3d. «What tion of the senate, directing the committee of finance number of half dollars." 4th. “What number of oto engu e into the expediency of continuing 'n) twenty, ten, and five cent pieces?" force the act of the 29th of April, 1816, regulating Answer. Making silver, without gold, the weekly the currency of certain foreign coins within the coinage in dollars may be rated at about 60,000; in

United States," I have the honor to state, that it is half dollars 85,000; and in smaller coins, 100,000 * inexpedient to continue the said act so far as foreign pieces respectively. And beyond this, which would gold is rendered current in the United States. From be fully double of the last year's coinage, the operathe enclosed letter from the director of the mint, it tion of the mint could not be much extended, without is manifest, that the foreign gold coins now in the erecting a new building, with some additional appaUnited States, which are current according to the ratus; for in our present situation, we are very much provisions of the said act, may be recoined before limited for want of room, having to rent two small its expiration. Until the capacity of the mint shall lots for our necessary accommodation. be increased, it is believed that the public interest On the above estimate it may be properto remark, requires that the said act, so far as it renders foreign 1. That, in order to be constantly employed, depo. silver coins current, should be continued.

sites, whether of gold or silver, equal, at least, to two It is believed, however, that foreign silver coins weeks coinage, should always be in advance. 2. should not be continued current after the capacity The copper coinage is considered as continuing in of the mint shall be so increased as to remove the constant operation, striking at least 100,000 cents inconvenience which might result from the tempo per week, 3. To effect the coinage above stated rary exportation of the gold and silver coins of the there would be wanted an appropriation for addi. United States. According to the communication tional workmen, wastage, and sindry incidental exfrom the director of the mint, about three millions of penses, of about $8000, in addition to the estimate dollars, in silver, can be coined in one year. If this lately transmitted from the mint to the treasury de. capacity should be doubled, the repeal of the law partment. making foreign silver coins current, might be effect. Query 5th. “What additional expense would it ed with safety, as soon as an opportunity should be require to coin double or quadruple the number of afforded by such augumentation in the povers of the silver coins which can be coined in the present situamint, to the holders of such foreign coins to have tion of the mint?” them recoined.

Answer. As far as respects a double coinage, the As Spanish milled dollars compose the great mass answer is attempted in the foregoing queries: and for of foreign silver coins which circulate in the United further.extension, as before observed, a new buildStates, and generally command a premium when sing would be required. From the nearest estimate, compared with the dollar of the United States, es- which present circumstances will enable us to make; pecially for exportation to China, it is desirable that it is believed, that the expenses for the purchase of they should cease to be a tender as soon as the capa- a lot, and erecting a suitable building, with such ad. city of the mint shall be increased so as to recoin such ditional apparatus as might be necessary, would part of the Spanish milled dollars, imported into the amount to about 825,000; and that, from the time United States, as may be necessary for domestic pur- of its commencement, it might be finished in about poses.

12 months. The coinage, in the mean time, being "The holders of this foreign coin, whether indivi. carried on at the present establishment. The lot duals or corporations, may then demand for it such and building at present occupied by the mint, would price as will indemnify them for the expense of improbably bring from 12 to 15,000 dollars. portation. Considering that the Spanish dollar, in Query 6th. “Have you any particular information the United States, is more an article of commerce of the relative value of gold and silver during the ghan a standard by which to ascertain the value of present year, in France and England? Has the late other articles; that its value at the same time, in dif- coinage in England raised the relative value of those ferent parts of the union, varies from par to ten per metals?” tent. it is conceived that the public interest requires - Answer. In reply to the above, I would beg leave that it should cease to be a legal tender as soon as to refer you to the enclosed copy of an editorial esan extensive and prompt recoinage shall be provided say, taken from a London paper of the 22d of April for.

last, in which the subject is treated with great perI have the honor to be, your most obedient sery't. spicuity, and to which I have little to add. The state

WM. H. CRAWFORD, ment of facts, however, given in this essay, cortoHonorable John W. Eppes, .

borates an observation which I had the honor to Chairman of the committee of finance.

make during the last session of congress to Mr.

Lowndes, then chairman of the committee of ways Mint of the U. States, Dec. 28th, 1818. and means, in reply to a question which at that time SIR-Having consulted the other officers of the he was pleased to propose, which I here transcribe. inint, and deliberately considered the subject of the Query 7th, “Are any amendments in the laws of queries which I have had the honor of receiving in the United States necessary to secure the coinage your letter of the 16th, I shall now attempt their an. of a more considerable quantity of gold than has here. swer, without, however, vouching for any very great tofore been annually coined at the mint?' degree of accuracy.

| Answer.- Nothing occurs to me as adequate to Query 1st. «What number of eagles and half this effect, except increasing the value of gold reeagles can the mint, in its present situation, coin perlatively to that of silver, so that the ratio of the one day?""

to the other, may be somewhat greater than in any Answer. With the aid of a new foundery and refin- part of Europe.' According to the standard in the ing furnace, which are now nearly completed, the United States, this ratio in the pure metals is as 15 to mint, in its present situation, and coining gold with.11. In some parts of Europe it is as 16 to 1, which I

believe is at present the maximumn. Though, as the, all other duties on coinage, were in effect abolish. coin of no one country in Europe are a legal tendered, or rendered ineffectual. In the time of queen in any other, gold and silver, whether in coins or Elizabeth, and until the 43d year of her reicn. 60 bullion, become an article of commerce, and their re- shillings, each weighing 4 dwts. equal to 96 crs. lative value is continually varying, according to cir- were cut out of a pound of silver billion. In the cumstances. Considering the expense of the impor-43d year of the reign of that princess, 62 shillings tation of gold into the United States, I should think were cut out of a pound of silver bullion: and the that our government would be justifiable an adding weight of each shilling consequently diminished 10 per cent. to the present relative value of gold. from 96 grs, to 92.857; at which rate it has contin This would hold out a powerful and effectual motive, nued until the late alteration, say as 62 shillings are for the importation of gold into the United States, to 5,760 grs. (the number of grains in a troy pound.) and at the same time be a powerful barrier against so are 21 shillings to 1,950, the number of grains in its exportation. All the difficulties arising from the 21 shillings of the old standard. Again, 1,950 grains American gold coins now gin circvlation might be divided by 129.5, (the rumber of grains of gold in readily obviated, either by calling them in for re- a guinea,) gives for a quotient 15.059. coinage, or suffering them to pass at the increased the proportion of standard silver to standard value.

gold, in point of value,supposing the weights equal, Presuming that it would not be unacceptable, 'is nearly as 15.059 to 1. But now, when 66 shillings have enclosed a description, with the impressions are cut out of a pound of silver, and only 21 of these and qualities, of sundry species of silver dollars from given for a guinea, the proportion is altered; the South America, which have from time to time been shilling, which before weighed, of standard silver, brought to the mint, as deposites. The whole amount 92 grs. and 357 decimal parts, is now reduced to 87 of such deposites, during the last year, is but little grains and 2.292 decimal parts, or 5 1-4 grains less short of half a million of dollars.

than the old standard; in each shilling, cqual to 2 I have the honor to be, &e.

farthings and 7.138 decimals of a farthing, or nearROBERT PATTDRSON. I 34

lly 3-4 of a penny, worse than the old standard coinP.S. I have also enclosed, from the Assayer of the age. mint, a statement of the weight and quality of sundry! This defalcation ofweight,amounts, in 21 shillings, silver coins from different parts of Europe, and to 110 grains and 25 decimal parts, equal in value which may probably be acceptable.

to 1s. 20. and 9.189 decimal parts, or 18, 2d. 1-4

nearly, which, in large sums, makes à considerable From a London paper of April 22d 1818.

difference, being 118s. 75 decimal parts per cent. The large quantity of gold pieces which have lately short of the old value of gold, compared with silver. been coined, and their almost immediate disap. This reduces the proportion which gold and silver pearance from circulation, is a subject of surprise bear to one another, from 15.059 to 14.121 to 1; or, and material concern to the people at large. as was before observed, nearly 6 per cent, which is

Some have ascribed this to the difference of es- the sum that might be gained, and probably is gainchange between this country and the rest of Europe; ed, by buying up the gold coin, (no matter whether but this disappearance of the coin did not take place guineas or sovereigns, with the diminished silver to any considerable degree, when the exchange was coin, and purchasing, with the gold coin so obtainconfessedly against us, and much less could the dif- ed, silver bullion in France, Holland, or Germany, ference of exchange produce any such effect at pre

Gil If this statement (if correct,) does not account for sent, when it is evidently in our favour. But, in all.

in the disappearance of the gold coin, I am at a loss probability, the cause of this deficiency of gold coin the in circulation lies nearer home, and consists in the to say, what other cause more adequate can be asproportion which has lately been established be signed. tween the gold and silver coin, considered as bul. P. $. The proportion of silver to gold, in the lion. To explain this, it is necessary to advert a lit. French coin, is as follows: tle to the properties belonging to coined money. The six franc piece (in silver) of Louis xv.

Coin may be considered in two lights: 1st. 1s a weighs 18 dwts. 12 grs. equal to 444 grs. these mulsign of value, and again, (which is the most impor- tiplied by 8, produce 3,552 grs. The double Louis tant consideration) as a deposite of equal intrinsic d'or (gold) weighs 9 dwts. 23 grs. cqual in weight value with the sum it professes to represent. The to 236 grs, and is estimated to be 8 six franc pieces worth, as Mr. Leake observes, is the intrinsic value in value. Now, 3,552 divided by 26 grs. as quotient which makes it the measure of all other things.- 15.053, which is nearly in the proportion of 15 to 1. That the coin should possess this degree of intrinsic scarcely differing from the proportion of silver to value, was secured by two acts of parliament, one of gold in the former English coinage. Again the 5 the 18th, and the other of the 25th of Charles 2d, franc pieces of Napoleon (silver) weighs 16 dwte. which enact, “That every person bringing any fo-2 grs, equal in weight to $86 grs. This, multiplied reign coin or bullion to the mint, to be coined, should by 8, produces 3,088 grs. The forty franc piece have the same assayed and melted down, without of Bonaparte (gold) valued at 8 five franc pieces, any charge or defalcation; and for every pound troy weighs 8 dwts. 7 grs. equal to 199, grs. Now, 3,088 of crown gold or sterling silver, should receive the divided by 199, gives 15.517 to 1, as the proportion like weight in coined money of crown or siandard silver bears to gold, which estimates the gold highgold, and of sterling or standard silver; and, 2d. If er in proportion to silver than in the former coins the bullion so brought was finer or charger than age. crown gold or standard silver, so much more or Let us now examine the coinages of Holland. less should be allowed, as it was better or worse, and the proportion which gold and silver bear to and without any charge of coinage, or without any to one another, in the money of that country. undue preference in the coinage. And, to defray | The 3 guilder piece of Holland, (silver) weighs 1 the charges of the mint and coinage, a duty was laid oz. 14 gr3. equal to 494 grs.; of course, 14 guilders on wines, &c."

must weigh, or be equal to 2,305 grs. of silver. The It appears from this act, which was continued by Ruydu, or 14 guilder pieces, (gold) weighs 6 dwt. the succeeding princes," that the seigneurage and '8 grs. equal to 152 grs. Now, 2,305 divided by 152, gives 15.1665 as the proportion which silver and The amount drawn for repairs is as follows: gold, in the Dutch coin, bear to one another

For 1814

1,006 92 The geometrical mean of these calculations, is

1815,

2,000 54 15.2451; the arithmetical mean is somewhat higher,

1816,

2,002 11" being 15.2655. Either of these, compared with the - - 1817,

3,227 41–7,636 98 proportions formed in the late coinage of this coun- Which added to . .

. $589,522 22 try, will sufficiently account for the gold coin being will make the whole cost of this part either exported or melted down at home. The ad-l of the road, including the repairs $597,169 20. vantage of counterfeiting this coin is obvious, where The statement made by Mr. Thomson, superinthe counterfeit might contain the same quantity of tendant for the western division of the road, exhisilver of the same degree of purity as the current bits the following result, which he says is as correct money of the realm, and yet afford an adequate ad- as he is able to make it, in the present rough state Vintage to those who counterfeitit. 0.C. of the work:

The following statemertexbibits the gross weight The distance contracted for is 36 miles, and 213 and degree of fineness of a variety of foreign coins, poles: which have occasionally been brought to the mint Amt. agreeable to contract 616,534 62 1-2 of the United States, mostly obtained from experi. Work done, has cost, $275,445 ments made on single pieces; and, it is believed, may Will cost to finish .341,119 62 be considered as nearly correct, so far as relates to Bill drawn in payments 218,874 60 the piece under trial; yet perhaps, in all cases, it may Take the amount as stated, agreeable to connot be sufficiently accurate to estimate with preci.tract, 616,564 dollars, and divide it by 36, makes the sion their respective national standards. The officers cost of the last 38 miles, a little more than seventeen of the mint are more conversant with the French thousand one hundred and twenty six dollars per mile. and Spanish coins. The modern god and silver The probable cost of the whole road, from Cumcoins of France, commencing with the Bonapartean berland, in Maryland, to Wheeling, in Virginia, system, and denominated francs, contain nine parts something exceeding 96 miles, when completed, is pure metal, and one part alloy; and the same stand- estimated at one million six hundred and siirty thouard, as well as denomination, appears to be adhered sand dollars, including 60,000 dollars for the Mononto by the present government with great exactness. gahela bridge; of which four hundred and fifty Although the same uniformity of standards is not ob- thousand dollars is the amount estimated yet to be servable in the gold and silver coins of Spain, yet, contracted for, and the probable cost of the road as the average quality of their dollar approximates made and contracted for, is stated at one million so near to those of France, it may not be unsafe to two hundred and six thousand dollars,-Sixty miles conclude their legal standard for dollars, and parts of the road is completed. of dollars, is the same.

The secretary of the treasury, in submitting the Gross weight. deg. of fineprss. statements to the house of representatives saysy by

oz. dwts. grs. OZ dwes. grs. Holland piece of 3 guilders

4

18 comparing them, it will be seen that the mason

10 19 Rix Thaylerof Denmark,

- 18 14 19 11 o work cast and west of the Monongahela are exAustrian Thayler, (Maria Th

O tremely different. '1 his difference has been pointBavarjan piece (of 1816)

- 19 6 10 10 Bratant Krone, (Francis II.)

10 10 ed out to the superintendant of the western part Ducatoon of Holland,

of the road, and he believes a considerable saving A 20 Krentzer piece,

18 will be effected upon the estimate which the su. A Russian Ruble, Crown piece of Portugal,

12 perintendant has furnished. Greensburgh Repub. Switzerland piece, 40 Baty (Canton of Zurich)

- 18 21 10 12
do
(Canton

Pbiladelphia Bills of Mortality. of Luzerne)

20 10 16 61 Barcelona piece (5 pesetas)

The whole ainount of deaths in the city and lic Africa (Sierra Leone) dollar

- 16 13 917 0 Portuguese

- 17 10

Oberties of Philadelphia for the entire year of 1818,

10 16 0 berli Cbili

ditto

- 17 10 i7 was 2765. Greatest number in July, 321; least in Province Rio de la Plata, do.

- 17 7 10 15

12 December, 196-greatest of adults in January, 1633 JOSEPH RICHARDSON, Assayer. Mint of the United States,

least in October, 95. Greatest of children in July, 27th of the 12th month, 1818.

178; least in November, 59.

Of those who died, 628 were under 1 year; 332 from

1 to 5; 68 from 5 to 10; 35 from 10 to 15; 39 from Cumberland Road.

15 to 20; 370 from 20 to 30; 416 from 30 to 40; 316 'The Cumberland road” having excited some at- from 40 to 50; 187 from 50 to 60, 138 from 60 to 70. tention in different parts of the state, and several 90 from 70 to 80; 67 from 80 to 90; 24 from 90 to petitions relating to it, being recently presented to 100; 5 from 100 to 110. the legislature of Pennsylvania, we are induced tol Diseases-Consumption 396; cholera morbus 203; lay the following before our readers:

convulsions 141; fever-typhus 311,-other fevers From a statement laid before congress by Mr. 181; dropsy 99; do. in the head 67; do. in the breast Shriver, superintendant for the eastern division of 5; still born 156; debility 89; atrophy 46; appolexy the road, extending from Cumberland, in Maryland, 40; hives 43; various inflamations 170; old age 65; to Uniontown, in Pennsylvania, about sixty and one pleurisy 25; palsy 37; small pox (natural) 8; &c. half miles, there has been drawn from the treasury, The population is supposed to amount to 120,000. except for repairs,

· $500,773 22 The suin yet wanting to complete ?

Porcelain. The manufacture of China ware, or

88,750 the road to Uniontown,

porcelain, equal in firmness to the French, has been

commenced in New-York. At the monthly meet. Divide this sum by 60 1-2

589,522 22ling of the Historical society, a few days ago, samshows the road to cost about 89,744 21 per mile, ples of the articles prepared by Mr. Mead, from doincluding every expense, On this route are several mestic materials, were presented for inspection. bridges, two of which are said to be the largest in their forms, their composition, their cnamelling the United States,

Jand every thing, gave universal satisfaction.

- 190

10

16

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