That this subject may be properly prepared and in readiness for Congress to take up at their meeting in November, something must now be done. The present session drawing to a close, they probably would not choose to enter far into this undertaking themselves. The Committee of the States, however, during the recess, will have time to digest it thoroughly, if Congress will fix some general principles for their government. Suppose they be instructed,-- To appoint proper persons to assay and examine, with the utmost accuracy practicable, the Spanish milled dollars of different dates in circulation with us. To assay and examine, in like manner, the fineness of all the other coins which may be found in circulation within these states. To report to the Committee the result of these assays, by them to be laid before Congress. To appoint, also, proper persons to inquire what are the proportions between the values of fine gold and fine silver, at the markets of the several countries with which we are, or probably may be, connected in commerce; and what would be a proper proportion here, having regard to the average of their values at those markets, and to other circumstances, and to report the same to the Committee, by them to be laid before Congress. To prepare an Ordinance for establishing the Unit of Money within these States; for subdividing it; and for striking coins of gold, silver, and copper, on the following principles. That the Money Unit of these States shall be equal in value to a Spanish milled dollar containing so much fine silver as the assay, before directed, shall show to be contained, on an average, in dollars of the several dates in circulation with us. That this Unit shall be divided into tenths and hundredths; that there shall be a coin of silver of the value of a Unit; one other of the same metal, of the value of one tenth of a Unit; one other of copper, of the value of the hundredth of a Unit. That there shall be a coin of gold of the value of ten units, according to the report before directed, and the judgment of the Committee thereon. That the alloy of the said coins of gold and silver shall be equal in weight to one eleventh part of the fine metal. That there be proper devices for these coins. That measures be proposed for preventing their diminution, and also their currency, and that of any others, when diminished. That the several foreign coins be described and classed in the said Ordinance, the fineness of each class stated, and its value by weight estimated in Units and decimal parts of Units. And that the said draught of an Ordinance be reported to Congress at their next meeting, for their consideration and determination. Supplementary Explanations. The preceding notes having been submitted to the consideration of the Financier, he favored me with his opinion and observations on them, which render necessary the following supplementary explanations.