PROFIT AND LOSS STATEMENT. The Debtor side consists of a number of items, which we consolidate, to save room, as they are apparently 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 Current expenses, at the bank-from 1st Jan. to 30th June, 6 mo. 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 Fayetteville, 2,084; at Boston only 2,835 55, &c. Sundry losses For Bonus Expenses of importing specie 3rd dividend-at 3 per cent. BALANCE $11,876 43 41,161 70 $1.632,319 85 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. 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. TREASURY REPORT. Treasury department, 6th Januarg, 1819. SIR-In reply to your letter, enclosing a resolution of the senate, directing the committee of finance to enquire into the expediency of continuing n force the act of the 29th of April, 1816, regulating the currency of certain foreign coins within the United States," I have the honor to state, that it is inexpedient to continue the said act so far as foreign gold is rendered current in the United States. From the enclosed letter from the director of the mint, it is manifest, that the foreign gold coins now in the United States, which are current according to the provisions of the said act, may be recoined before its expiration. Until the capacity of the mint shall be increased, it is believed that the public interest requires that the said act, so far as it renders foreign silver coins current, should be continued. out silver, would be able to prepare and strike about 7,000 pieces per day, or 35,000 per week, reckoning only five working days in the week, to allow for unavoidable accidents and interruptions. Query 2d. "What number of dollars!" 3d. "What number of half dollars?" 4th. "What number of twenty, ten, and five cent pieces?" Answer. Making silver, without gold, the weekly coinage in dollars may be rated at about 60,000; in half dollars 85,000; and in smaller coins, 100,000 pieces respectively. And beyond this, which would be fully double of the last year's coinage, the operation of the mint could not be much extended, without erecting a new building, with some additional apparatus; for in our present situation, we are very much limited for want of room, having to rent two small lots for our necessary accommodation. On the above estimate it may be proper to remark, 1. That, in order to be constantly employed, deposites, whether of gold or silver, equal, at least, to two weeks coinage, should always be in advance. 2. The copper coinage is considered as continuing in constant operation, striking at least 100,000 cents there would be wanted an appropriation for additional workmen, wastage, and sundry incidental expenses, of about $8000, in addition to the estimate lately transmitted from the mint to the treasury department. It is believed, however, that foreign silver coins should not be continued current after the capacity of the mint shall be so increased as to remove the 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 United States. According to the communication from the director of the mint, about three millions of dollars, in silver, can be coined in one year. If this capacity should be doubled, the repeal of the law making foreign silver coins current, might be effected with safety, as soon as an opportunity should be afforded by such augumentation in the powers of the mint, to the holders of such foreign coins to have them recoined. Query 5th. "What additional expense would it require to coin double or quadruple the number of silver coins which can be coined in the present situation of the mint?" 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 ing 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 adcity 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 United States, as may be necessary for domestic purposes. The holders of this foreign coin, whether individuals or corporations, may then demand for it such price as will indemnify them for the expense of importation. Considering that the Spanish dollar, in the United States, is more an article of commerce than a standard by which to ascertain the value of other articles; that its value at the same time, in different parts of the union, varies from par to ten per cent, it is conceived that the public interest requires that it should cease to be a legal tender as soon as an extensive and prompt recoinage shall be provided for. amount to about $25,000; and that, from the time of its commencement, it might be finished in about 12 months. The coinage, in the mean time, being carried on at the present establishment. The lot and building at present occupied by the mint, would probably bring from 12 to 15,000 dollars. Query 6th. "Have you any particular information of the relative value of gold and silver during the present year, in France and England? Has the late coinage in England raised the relative value of those metals?" Answer. In reply to the above, I would beg leave to refer you to the enclosed copy of an editorial essay, taken from a London paper of the 22d of April last, in which the subject is treated with great per I have the honor to be, your most obedient serv't.spicuity, and to which I have little to add. The stateWM. H. CRAWFORD. Honorable John W. Eppes, Mint of the U. States, Dec. 28th, 1818. Sin-Having consulted the other officers of the mint, and deliberately considered the subject of the queries which I have had the honor of receiving in Your letter of the 16th, I shall now attempt their answer, without, however, vouching for any very great degree of accuracy. ment of facts, however, given in this essay, corroborates an observation which I had the honor to make during the last session of congress to Mr. Lowndes, then chairman of the committee of ways and means, in reply to a question which at that time he was pleased to propose, which I here transcribe. Query 7th. "Are any amendments in the laws of the United States necessary to secure the coinage of a more considerable quantity of gold than has heretofore been annually coined at the mint?" 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-1. In some parts of Europe it is as 16 to 1, which E believe is at present the maximum. Though, as the, all other duties on coinage, were in effect abolishcoin 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 reign, 60 bullion, become an article of commerce, and their re- shillings, each weighing 4 dwts. equal to 96 grs. lative value is continually varying, according to cir- were cut out of a pound of silver bullion. 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 contiThis 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 in circulation might be divided by 129.5, (the number 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 value. The proportion of standard silver to standard Presuming that it would not be unacceptable, I is nearly as 15.059 to 1. But now, when 66 shillings gold, in point of value,supposing the weights equal, 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 857 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 than the old standard; in each shilling, equal to 2 farthings and 7.138 decimals of a farthing, or nearly 3-4 of a penny, worse than the old standard coinage. short of half a million of dollars. I have the honor to be, &c. ROBERT PATTERSON. P.S. I have also enclosed, from the Assayer of the mint, a statement of the weight and quality of sundry silver coins from different parts of Europe, and which may probably be acceptable. ed, by buying up the gold coin, (no matter whether guineas or sovereigns,) with the diminished silver coin, and purchasing, with the gold coin so obtained, silver bullion in France, Holland, or Germany. If this statement (if correct,) does not account for the disappearance of the gold coin, I am at a loss to say what other cause more adequate can be assigned. P. S. The proportion of silver to gold, in the French coin, is as follows: This defalcation of weight,amounts, in 21 shillings, to 110 grains and 25 decimal parts, equal in value to 1s. 2d. and 9.189 decimal parts, or 18. 2d. 1-4 nearly, which, in large sums, makes a 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 ex-the sum that might be gained, and probably is gainchange between this country and the rest of Europe; but this disappearance of the coin did not take place to any considerable degree, when the exchange was confessedly against us, and much less could the difference of exchange produce any such effect at present, when it is evidently in our favour. But, in all probability, the cause of this deficiency of gold coin in circulation lies nearer home, and consists in the proportion which has lately been established between the gold and silver coin, considered as bulbon. To explain this, it is necessary to advert a litte to the properties belonging to coined money. The six franc piece (in silver) of Louis XV. Coin may be considered in two lights: 1st. As 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. equal 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 dwts. which enact, "That every person bringing any fo-2 grs. equal in weight to 336 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, 3,09% 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 standard silver bears to gold, which estimates the gold highgold, and of sterling or standard silver; and, 2d. If er in proportion to siker than in the former cointhe bullion so brought was finer or coarser than age. crown gold or standard silver, so much more or less should be allowed, as it was better or worse, and without any charge of coinage, or without any undue preference in the coinage. And, to defray the charges of the mint and coinage, a duty was laid on wines, &c." It appears from this act, "which was continued by De succeeding princes," that the seigneurage and Let us now examine the coinages of Holland, and the proportion which gold and silver bear to to one another, in the money of that country, The 3 guilder piece of Holland, (silver) weighs 1 oz. 14 grs. equal to 494 grs.; of course, 14 guiders must weigh, or be equal to 2,305 grs, of silver. The Ruydu, or 14 guilder pieces, (gold) weighs 6 dwt. 8 grs. equal to 152 grs. Now, 2,305 divided by 152, gives 15.1665 as the proportion which silver and gold, in the Dutch coin, bear to one another The geometrical mean of these calculations, is 15.2451; the arithmetical mean is somewhat higher, being 15.2655. Either of these, compared with the proportions formed in the late coinage of this coun- Which added to 3,227 41-7,636 98 $589,522 22 try, will sufficiently account for the gold coin being Will make the whole cost of this parteither exported or melted down at home. The ad-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, exhi silver 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 ntage to those who counterfeitit. of the work: O. C. 616,534 62 1-2 The following statement exhibits 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 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 gold 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 sixty thouard, as well as denomination, appears to be adhered to by the present government with great exactness, Although the same uniformity of standards is not observable in the gold and silver coins of Spain, yet, as the average quality of their dollar approximates so near to those of France, it may not be unsafe to conclude their legal standard for dollars, and parts of dollars, is the same. Gross weight. deg. of fineness 1 0 14 10 11 10 2 10 9 0 sand dollars, including 60,000 dollars for the Monon gahela bridge; of which four hundred and fifty, thousand dollars is the amount estimated yet to be contracted for, and the probable cost of the roadt made and contracted for, is stated at one million two hundred and six thousand dollars.—Sixty miles of the road is completed, The secretary of the treasury, in submitting the statements to the house of representatives says, by comparing them, it will be seen that the mason o work east and west of the Monongahela are extremely different. This difference has been pointoed out to the superintendant of the western part of the road, and he believes a considerable saving 18 will be effected upon the estimate which the su12 perintendant has furnished. Greensburgh Repub. 0 10 10 10 10 10 17 of Zurich) (Canton Switzerland piece, 40 Baty (Canton Barcelona piece (5 pesetas) Africa (Sierra Leone) dollar Portuguese Chili ditto dicto Province Rio de la Plata, do. 10 17 10 15 JOSEPH RICHARDSON, Assayer. Mint of the United States, Cumberland Road. Philadelphia Bills of Mortality. The whole amount of deaths in the city and ti. berties of Philadelphia for the entire year of 1818, 6 was 2765. Greatest number in July, 321; least in 18 December, 196-greatest of adults in January, 163, least in October, 95. Greatest of children in July. 178; least in November, 59. The "Cumberland road" having excited some attention in different parts of the state, and several petitions relating to it, being recently presented to the legislature of Pennsylvania, we are induced to lay the following before our readers: From a statement laid before congress by Mr. Shriver, superintendant for the eastern division of the road, extending from Cumberland, in Maryland, to Uniontown, in Pennsylvania, about sixty and one half miles, there has been drawn from the treasury, except for repairs, $500,773 22 88,750 The sum yet wanting to complete ? the road to Uniontown lete} Divide this sum by 60 1-2 589,522 22 shows the road to cost about $9,744 21 per mile, including every expense, On this route are several bridges, two of which are said to be the largest in the United States. Of those who died, 628 were under 1 year; 332 from 1 to 5; 68 from 5 to 10; 35 from 10 to 15; 59 from 15 to 20; 370 from 20 to 30; 416 from 30 to 40; 316 from 40 to 50; 187 from 50 to 60, 138 from 60 to 70% 90 from 70 to 80; 67 from 80 to 90; 24 from 90 to 100; 5 from 100 to 110. Diseases-Consumption 396; cholera morbus 205; convulsions 141; fever-typhus 311,-other feyers 181; dropsy 99; do, in the head 67; do. in the breast 5; still born 156; debility 89; atrophy 46; appolexy 40; hives 48; various inflamations 170; old age 65; pleurisy 25; palsy 37; small pox (natural) 8; &c. The population is supposed to amount to 120,000. Porcelain. The manufacture of China ware, or porcelain, equal in firmness to the French, has been commenced in New-York. At the monthly meeting of the Historical society, a few days ago, samples of the articles prepared by Mr. Mead, from domestic materials, were presented for inspection. Their forms, their composition, their enamelling and every thing, gave universal satisfaction. NEW SERIES. No. 2-VOL. IV.] BALTIMORE, MARCH 6, 1819. [No. 2-Vol. XVI. WHOLE No. 392. THE PAST-THE PRESENT-FOR THE FUTURE. PRINTED AND PUBLISHED BY H. NILES, AT $5 PER ANNUM, PAYABLE IN ADVANCE, Mechanical convenience forbade the publication of an intended supplement to the present number; and also, as yet, prevents us from getting out the index for the last volume. General Jackson. clare, yea or nay, whether all that general Jackson has done is in conformity to our opinions of right, though we take it for granted that every transaction of his, since he took the field, has resulted in a present good to his country, yet as "gold may be purchased too dear," a good thing may be produced by dangerWhilst the people were tendering the honest ous means:-and, if he has committed wrong to the homage of their hearts to the MAN OF ORLEANS, and Constitution and laws of his country, or outraged huconferring upon him every public honor which they and Ambrister were suffered to plead in their own manity, let him be punished. But even Arbuthnot had the power to bestow, whilst they recognized defence, and shall we refuse the like privilege to a in the intrepid soldier the polished manners of a gentleman, with the mild deportment of the citizen, ble to his glory, as the history of the republic. Still, man whose deeds of high renown are as imperishaa committee of the senate of the United States-the his services must not be plead in extenuation of a soli most dignified tribunal known to the constitution, tary wrong, wilfully committed. We would rather save that from which all lawful authority is derived, that Jackson should perish, than that any one in the was engaged in preparing very solemn and serious United States should be above the law-but it is charges against him-to bring him before the bar due him that he should be fairly tried, and upon his of the public reason loaded with reproaches, as a Eagrant violator of the most important fundamental principles of right, justice and law. See the report, page 33. own merits. the nation" in congress assembled, yet knowing also With due deference to the "collected wisdom of We have no present intention to examine the that the members are mere men, liable to errors in facts stated in this report, nor to make any remarks up- judice or passion, like others we contend that judgment, and subject to the influence of party, preon it. But, however, we feel it our duty to say-both houses have mistaken their power in supposthat we believe them to be untenable, by proof, or to be excused, as to the general himself, by the sanc-either of them for any transaction of his military life, ing that the general was directly responsible to tion of his superior, the president of the United circumstanced as he was. Admit that the majority States: all which will probably appear before ma-in both houses had agreed to censure general Jackwy days.* It is not our practice to interfere in party politics believed that a simple vote of disapprobation in conson, where are their means to punish? Can it be -to extol the ins and censure the outs, or vice versa; and we do not care to the value of a one dollar Owl gress, would punish him sufficiently for the outra Creek bank note, whether a president of the Unitedges with which, he was charged? Nay, nay-if he is States comes from the east, west, south or north: guilty of the things preferred against him, his life else we might say much, and would say it warmly would be a poor forfeit to the insulted justice of his too, about the proceedings that have been had recountry. specting general Jackson. If we do not know we If such punishment is due, but that congress has certainly believe, that among his opponents, in or no power to inflict it-what could all the long recut of congress, there are some men who have been ports and long speeches have amounted to? Only influenced only by a generous love for the constitu- to this-to prejudice the tribunal before whom the tion and liberties of our country; but we are equal-order it to condemn him! Thus, is our opinion, congeneral might be summoned to appear; in fact, to ly certain, that others have been led to array themselves against him through passion and prejudice, ed with doing; having fallen into the very error that gress acted as unadvisedly as the general is chargeor with a secret design to affect the approaching was reprehended in him, as though he punished election of president. In short, and in common phrase, without trial! that they have "struck at another man over his shoulders." This is our serious opinion. The fact is universally believed, that the presiThe story has been so often told in the news-tenso--in many cases by an open approval, or justifiIdent has sanctioned the conduct of Jackson, in expapers, that party had nothing to do in the question cation of his proceedings, and in all the rest by a tacit relating to the Seminole war, that many have be beved it. We always believed the contrary, and acquiescence in them. The general, then, is exonethe happy contrivance of recording the yeas and rated from blame, until the president is found guilays, proves that we are correct-unless we admitty of wrong. If his acts were unsupported by the that one of the two great political sections in con- constitution and laws of his country, they now are the gress is much more regardful of the constitution of acts of the executive, the agent being approved by the United States than the other,-an idea that canit; let the executive be punished first, and the geneact be tolerated is this "era of good feelings!" ral will naturally suffer. It is of no importance, at this time, for us to de *The National Intelligencer, received since tiris article was in type, says-"We are authorised and requested to state, for the satisfaction of those who feel interested in the information, that strictures on the report of the committee of the senate in respect to the Seminole war, are in preparation, and will be shortly offered to the public eve; and that in their character, they will be both aniple, and tree." If this view of the subject is correct-if the acts of general Jackson have by any means become the acts of the president, (and they must be so regarded, seeing that the general has not been put upon his trial for any of them), what shall we think of the house of representatives, as the grand inquest of the nation, and of the senate, as the supreme judge, for acting on the case as they have done? Does it not appear as if they would have indicted, tried and punished the president, when the general only was |