Communicated to the House of Representatives, March 1, 1826.
To the Senate and House of Representatives of the United States:
I transmit herewith a report from the Director of the Mint of the United States, showing the operations of that institution for the year 1825.
JOHN QUINCY ADAMS.
Washington, March 1, 1826.
Mint of the United States, Philadelphia, January 2, 1826.
Sir: I have now the honor of laying before you a report of the operations of the Mint during the last year.
From the statement of the Treasurer, herewith transmitted, it appears that the coinage effected within the last year has amounted to one million seven hundred and thirty-five thousand eight hundred and ninety-four dollars, consisting of five millions one hundred and seventy-eight thousand seven hundred and sixty pieces of coin, viz:
|Of gold||33,494||pieces, making||$156,385|
The gold coinage of the last year has exceeded that of 1824 by the sum of $63,185. Of this excess it may be interesting to observe a very sensible proportion consists of an increase of gold bullion derived from North Carolina; the value of the deposits received from that quarter within the year having been nearly $17,000 — more than three-fold the amount from the same source in any previous year since 1804. Within that year, the first in which deposits of gold from North Carolina are noticed on the records of the Mint, the amount received was about $11,000. The whole amount received to the present time is about $68,000. This gold has very generally been found superior in fineness to the standard of our gold coins.
The value of the gold bullion received from other quarters within the last year may, with a sufficient approximation to accuracy, be stated at $45,000 from Africa, and $75,000 from Mexico, South America, and the West Indies, leaving about $19,000 derived from sources not ascertained.
Of the amount of silver brought to the Mint within the year, nearly one-half has been received from the United States Bank in foreign coins, and the remainder, chiefly from Mexico and South America, in various forms of unwrought bullion. The supply has proved, however, less constant in the last than in the preceding year. The amount in the vaults of the Mint, which on the first day of January exceeded $300,000, was early in October reduced to less than $30,000, deposits of bullion having been about that period nearly suspended for one month. This relaxation of pressure was very usefully improved to effect an emission, frequently called for, of some of the smaller denominations of our silver coin, and to extend the coinage of copper, as will be found particularly exhibited in the statement of the Treasurer before referred to. While, therefore, the whole value of the coinage of the last year is less than that of 1824 by the sum of $122,402, the whole number of coins executed will be found to exceed that of 1824 by nearly 400,000 pieces; and the number of gold and silver coins executed within the last year will be found to exceed by nearly 130,000 pieces that of any previous year since the establishment of the Mint.
During the last two months, the supply of bullion having again been copious, the heavier operations of coinage have been vigorously pursued, and I have the gratification to state that all deposits of silver bullion received up to the 9th of December, and all those of gold up to the 24th of the same month, have been coined, and their value issued. The amount of gold and silver bullion remaining in the vaults of the Mint at the close of the year is $135,335 08, the whole of which has been received since the periods above mentioned, respectively.
The copper coinage executed within the last year has amounted to $14,926, a small portion thereof being in half cents, the coinage of which it has been thought expedient, after a long interval, to resume. For this purpose a supply of half cent planchets was imported in June last. The amount of copper, coined and uncoined, now in our vaults, is $14,993. The amount of copper coins issued within the year is $19,426 25, the profit on which, as exhibited in the usual return made by the Treasurer on the subject, is a reimbursement to that extent of the annual expenditure for the support of the Mint.
On reviewing the transactions of this establishment for the last ten years, in which there has been a general progressive increase of the supply of bullion, it appears that, with a trivial corresponding increase of expenditure, the capacity of the Mint to accomplish the purpose of its institution has still been found equal to the expanding field of its operations. The result of the last two years, a period of heavier pressure than any two which have preceded them, conspicuously sustains this remark, and is believed to warrant the conclusion that the power of the Mint may be relied on to meet any permanent increase of the demand for coinage which can now be inferred from experience or anticipated on any known facts.
I have the honor to be, with great respect, your obedient servant,
The President of the United States.
A statement of the coins struck at the Mint of the United States from January 1 to December 31, 1825, inclusive.
|Quarter ending 31st March||847,000||$423,500|
|Quarter ending 30th June||831,500||415,750|
|Quarter ending 30th September||230,000||812,000||429,000|
|Quarter ending 31st December||280,000||168,000||452,666||296,333|
|Quarter ending 31st March||2,324||3,020||$20,910|
|Quarter ending 30th June||1,000||8,085||42,925|
|Quarter ending 30th September||5,270||26,350|
|Quarter ending 31st December||1,110||12,685||66,200|
|Quarter ending 30th September||330,000||$3,300|
|Quarter ending 31st December||63,000||1,131,100||11,626|
|3,621,166||pieces of silver coins, amounting to||$1,564,583|
|33,494||pieces of gold coins, amounting to||156,385|
|1,524,100||pieces of copper coins, amounting to||14,926|
|5,178,760||pieces of coins, amounting to||1,735,894|
|JAMES RUSH, Treasurer.|
|Mint of the United States, Treasurer’s Office, Philadelphia,December 31, 1825.|