Illustrated history of the United States mint: with a complete description of American coinage, from the earliest period to the present time
History
Illustrated history of the United States mint: with a complete description of American coinage, from the earliest period to the present time
Coinage -- United States; Mints -- United States
The promotion of Mr. Knox to the office in which he was able to do
himself the most credit, and perform those services to the country which
are part and parcel of its financial progress, occurred in 1867. At this
time a vacancy was brought about in the Deputy-Comptrollership of the
Currency, and Secretary McCulloch appointed him to fill it. Until May 1,
1884, he remained as Deputy or head of the Bureau, his terms of office
being as follows: Five years as Deputy-Comptroller, from 1867 to 1872;
five years as Comptroller, from 1872 to 1877, appointed by General Grant;
five years, second term as Comptroller, from 1877 to 1882, by President
Hayes, on the recommendation of Secretary Sherman—the reappointment being
made without his knowledge, before the expiration of the preceding term,
and confirmed by the Senate without reference to any committee. He was
again reappointed, by President Arthur, April 12, 1882.
In 1870 he made an elaborate report to Congress (Senate Mis. Doc., No.
132, XLI. Cong., 2d Sess.), including a codification of the Mint and
Coinage laws, with important amendments, which was highly commended.
The bill which accompanied the report comprised, within the compass of
twelve pages of the Revised Statutes, every important provision contained
in more than sixty different enactments upon the Mint and Coinage of
the United States—the result of eighty years of legislation. This bill,
with slight amendments, was subsequently passed, and is known as “The
Coinage Act of 1873;” and the Senate Finance Committee, in recognition of
his services, by an amendment, made the Comptroller of the Currency an
_ex-officio_ member of the Assay Commission, which meets annually at the
Mint in Philadelphia for the purpose of testing the weight and fineness
of the coinage of the year.
Through his official reports, twelve in number, and his addresses on the
currency question, Mr. Knox has indirectly exercised great influence
in financial legislation, and he took an active, though quiet and
unassuming part, in the great financial _coup d’etat_ of the resumption
of specie payment.
Public-domain text, read in full here on John Shaqi.
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