Charles Sumner: his complete works, volume 11 (of 20)Sumner, Charles
History
Charles Sumner: his complete works, volume 11 (of 20)
Sumner, Charles
Slavery -- United States; Speeches, addresses, etc., American
And surely there must be a reason why it did not prevail.
Dumas says, in rather contemptuous phrase, that “on one side is a petty
local interest, in a great degree imaginary.”[335] But if this “petty
local interest” were of sufficient importance to prevail for so long
a time in France, against such influences, it must be because there
was something of intrinsic strength in its character. I allude thus
minutely to this testimony, because I would not keep anything out of
the discussion calculated to shed light, and because it seems to me
that the long-continued practice of France, in spite of such testimony,
must not be disregarded in our endeavors to arrive at a true policy.
Thus far our Government has followed the teachings from the practice
of France, rather than from its science on this subject. It renounced,
some time ago, the policy of a single mint, acting, it may be supposed,
under other considerations of a controlling character. The statute of
March 3, 1835, entitled “An Act to establish branches of the Mint of
the United States,”[336] provides for mints at New Orleans, Charlotte,
in North Carolina, and Dahlonega, in Georgia,--the two latter for
coinage of gold only. Since then there has been provision for mints at
San Francisco, Denver, and Carson City.
I have not before me the most recent statement of the production at
these different mints; but this is not necessary for illustration. If
we take the year 1851, we find that the number of pieces, gold, silver,
and copper, produced that year, was as follows:--
Philadelphia 24,985,736
New Orleans 3,527,000
Charlotte 105,366
Dahlonega 83,856
So that mints were kept up at the two latter places merely to
manufacture a very small amount of coin, and the reason assigned was,
that gold was produced in the neighborhood.
Looking at the cost of production at these different places, we find
that at Philadelphia it was only forty-two hundredths per cent,--at
New Orleans, one and eight hundredths per cent,--at Charlotte, three
and fifty-five hundredths per cent,--at Dahlonega, three and thirteen
hundredths per cent. But, great as was the economy at Philadelphia,
compared with that at the other mints, we find that at the Paris mint
the same production costs one half less.
Public-domain text, read in full here on John Shaqi.
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