Illustrated history of the United States mint / with a complete description of American coinage, from the earliest period to the present time

by Unknown

Copy of the Paper laid in the Corner Stone of the Mint, July 4, 1829.

This corner stone of the Mint of the United States of America, laid on the 4th day of July, 1829, being the fifty-third anniversary of our independence, in the presence of the Officers thereof, Members of Congress of the adjacent districts, architect, and artificers employed in the building, and a number of citizens of Philadelphia, in the which with this instrument are deposited specimens of the Coins of our Country struck in the present year. The Mint of the United States commenced operations in the year A. D., 1793, increasing constantly in utility, until its locality and convenience required extension and enlargement, which was ordered by the passage of a bill appropriating $120,000 for the erection of new and convenient buildings, to accommodate its operations, vesting the disbursement in the judgment and taste of the Director and President of the United States. In pursuance of the above bill, passed during the Presidency of John Quincy Adams, arrangements were made and designs adopted; William Strickland appointed architect; John Struthers, marble mason; Daniel Groves, bricklayer; Robert O’Neil, master carpenter, and in the first year of the Presidency of Andrew Jackson, this corner stone was placed in southeast corner of the edifice.

The names of the officers of the Mint of the United States at this time, are as follows:

• Doctor Samuel Moore, Director,
• Adam Eckfeldt, Coiner,
• Joseph Cloud, Melter and Refiner,
• Joseph Richardson, Assayer,
• Doctor James Rush, Treasurer,
• Wm. Kneass, Engraver,
• George Ehrenzelder, Clerk.

Mint of the United States,
Philadelphia, March 20, 1838.

To Hon. Levi Woodbury, Secretary of the Treasury.

Sir:—I had the honor to receive your letter asking my attention to a resolution of the House of Representatives of the United States, passed March 5, 1838, as follows:

Extract from Resolution of Congress relating to Mint.

“Resolved, That the Secretary of the Treasury report to this House the cost of erecting the principal Mint and its branches, including buildings, fixtures, and apparatus; the salaries and expenses of the different officers; the amount expended in the purchase of bullion; the loss arising from wastage, and all other expenses; and the average length of time it requires to coin at the principal Mint all the bullion with which it can be furnished; and further, what amount of coin has been struck at the several branch mints, since their organization.”

Mint of the United States, Philadelphia.

The cost of the edifice, machinery, and fixtures, was	$173,390
Ground, enclosure, paving, etc.	35,840
Total cost of buildings, etc.	$209,230

This amount does not include expenditures made under special appropriations for the years 1836 and 1837, for milling and coining by steam power; and for extensive improvements in the assaying, melting, and parting rooms, and machine shops, amounting to $28,270.

It may be proper to mention that the Mint building is on the best street in the city, is of large dimensions, with the whole exterior of marble, and two Ionic porticos; and that the machinery and apparatus are of the best construction. The cost must therefore be considered as very moderate. The new Mint lately erected by the British India Government at Calcutta, cost 24 lacs of rupees, or about $1,138,000.

The	Director receives per annum	$3,500
	Treasurer	2,000
	Chief Coiner	2,000
	Assayer	2,000
	Melter and Refiner	2,000
	Engraver	2,000
	Second Engraver	1,500
	Assistant Assayer	1,300
	Treasurer’s Clerk	1,200
	Bookkeeper	1,000
	Clerk of the weighing room	1,200
	Director’s Clerk	700
	Total for salaries	$20,400

No expenses are allowed, beyond the above sums, to any officer, assistant, or clerk, for the performance of his duties.

As all the gold and silver brought to the Mint is purchased at the nett Mint price, there is no expense, properly so called, incurred on this account.

R. M. PATTERSON, Director of the Mint.

Previous to the passage of the law by the Federal government for regulating the coins of the United States, much perplexity arose from the use of no less than four different currencies or rates, at which one species of coin was recoined, in the different parts of the Union. Thus, in New Hampshire, Massachusetts, Maine, Rhode Island, Connecticut, Vermont, Virginia and Kentucky, the dollar was recoined at six shillings; in New York and North Carolina at eight shillings; in New Jersey, Pennsylvania and Maryland at seven shillings and six pence; in Georgia and South Carolina at four shillings and eight pence. The subject had engaged the attention of the Congress of the old confederation, and the present system of the coins is formed upon the principles laid down in their resolution of 1786, by which the denominations of money of account were required to be dollars (the dollar being the unit), dismes or tenths, cents or hundredths, and mills or thousandths of a dollar. Nothing can be more simple or convenient than this decimal subdivision. The terms are proper because they express the proportions which they are intended to designate. The dollar was wisely chosen, as it corresponded with the Spanish coin, with which we had been long familiar.