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Communicated to the House of Representatives, January 11, 1811.
The Secretary of the Treasury, in obedience to the resolution of the House of Representatives of the 2d instant, respectfully reports:
| That the whole expense of the Mint of the United States, since its first establishment to the end of the year 1809, has amounted, as will appear by the annexed statement, marked A, to | $387,414 | 24 |
| That the profits of the copper coinage, have, during the same period, amounted to | 37,331 | 52 |
| As will appear by reference to the statement marked B, transmitted to Congress on the 15th day of March, 1810, [see No. 318,] together with the annual report of the Comptroller on that subject. | ||
| Leaving for the nett expense of the Mint, | 350,082 | 77 |
| That the gold coined at the mint, during the same period, amounts in value, to | $3,763,597 | 50 |
| The silver coined during the same period, to | 4,370,846 | 50 |
| And the copper coined curing the same period, and paid into the Treasury, to | 211,702 | 21 |
| Making, altogether, in value, | $8,346,146 | 21 |
As will appear by the above mentioned statement A.
And that there are no documents in the Treasury by which the actual rate per cent. of expense in refining gold bullion below the standard fineness, can be ascertained; the deduction authorized in that case by the 5th section of the act of the 3d of March, 1795 being the only item which is stated in the accounts rendered by the officers of the mint, and its not being known whether that deduction is equal to the actual expense incurred.
It may not be improper to observe, 1st, that in the official statements of the profits on copper coinage, that coinage is not charged with any portion of the general expenses of the mint; and that although this cannot be correctly stated, it is evident, from a comparative view of the number of pieces coined at the mint, that it must exceed the whole amount stated as the nominal profit on that coinage. 2d. That the first cost of buildings and apparatus, being a charge on the whole coinage, and that of the precious metals having considerably increased, the rate per cent. of expense on the whole coinage has diminished, and continues every year to diminish.
All which is respectfully submitted.
ALBERT GALLATIN.
Treasury Department, January 10, 1811.
A Statement of the whole expense of the Mint of the United States, from its institution to the 31st December, 1809.
| Period. | Salaries of officers. |
Cost of lots, buildings, machinery, materials, wages of laborers, repairs, &c. |
Wastage allowed on gold and silver. |
Total. | |||||
|---|---|---|---|---|---|---|---|---|---|
| From | the commencement to the 31st December, 1801, | $88,887 | 21 | 115,402 | 99 | 10,958 | 69 | 215,248 | 89 |
| 1st January, 1802, to 31st December, 1809, | 84,800 | 00 | 68,343 | 42 | 19,021 | 98 | 172,165 | 40 | |
| 173,687 | 21 | 183,746 | 41 | 29,980 | 67 | 387,414 | 29 | ||
| Species of Coins struck. | Number. | Value. | Value of coins struck from each metal. | ||
|---|---|---|---|---|---|
| Gold—Eagles, | 132,592 | 1,325,920 | 00 | ||
| Gold—Half Eagles, | 476,437 | 2,382,185 | 00 | ||
| Gold—Quarter Eagles, | 22,197 | 55,492 | 50 | ||
| 3,763,597 | 50 | ||||
| Silver—Dollars, | 1,439,517 | 1,439,517 | 00 | ||
| Silver—Half Dollars, | 5,452,759 | 2,726,379 | 50 | ||
| Silver—Quarter Dollars, | 561,045 | 140,261 | 25 | ||
| Silver—Dimes, | 514,116 | 51,411 | 60 | ||
| Silver—Half Dimes, | 265,543 | 13,277 | 15 | ||
| 4,370,846 | 50 | ||||
| Copper—Cents, | 18,958,035 | 1,89,580 | 35 | ||
| Copper—Half Cents, | 4,616,373 | 23,081 | 86 | ||
| 212,662 | 21 | ||||
| Of which there has been paid into the Treasury | 211,702 | 21 | |||
| 8,346,146 | 21 | ||||