|
|
|
Communicated to the House of Representatives March 1, 1826.
Treasury Department, February 14, 1826.
Sir: I have the honor to transmit herewith a report, received at this Department from the Director of the Mint, of assays of foreign coins made at that institution during the past year.
I have the honor to remain, with the highest respect, your obedient servant,
RICHARD RUSH.
The Hon. the Speaker, of the House of Representatives of the United States.
Mint of the United States, Philadelphia, February 7, 1826.
Sir: Conformably to general instructions from the Treasury Department, I have caused assays to be made of the foreign coins current by law in the United States, and have now the honor to communicate the result thereof.
Foreign Gold Coins
From the assayer’s report it appears that the gold coins of Great Britain and Portugal contain 22 parts of fine gold in 24 parts; those of France, 219/16 parts of fine gold in 24 parts; and those of Spain 207/8 parts of fine gold in 24 parts.
Standard gold of the United States contains 22 parts fine in 24 parts, and the eagle of ten dollars contains, as by law established, 270 grains of standard gold, which is at the rate of 100 cents for 27 grains thereof, or 888/9 cents per pennyweight. According to the present assay, therefore, the intrinsic value of the gold coins of Great Britain and Portugal will be 100 cents for 27 grains thereof, or 888/9 cents per pennyweight; that of the gold coins of France, 100 cents for 2755/100 grains thereof, or 8712/100 cents per pennyweight; and that of the gold coins of Spain, 100 cents for 2844/100 grains thereof, or 8434/100 cents per pennyweight.
By a series of the annual assays made of the aforesaid coins during the last ten years, it has been ascertained that the gold coins of Great Britain are uniformly of the same intrinsic value with those of the United States; that the gold coins of Portugal approach this value so very nearly, in the general result, that they may be considered of the same standard; that the average intrinsic value of the gold coins of France is 8727/100 cents per pennyweight, and that of the gold coins of Spain 8421/100 cents per pennyweight.
Foreign Silver Coins
From the assayer’s report it appears that the crowns of France contain 10 ounces 18 pennyweights 12 grains of fine silver in 12 ounces; that the five franc pieces contain 10 ounces 16 pennyweights 12 grains of fine silver in 12 ounces; and the Spanish dollars, 10 ounces 15 pennyweights 18 grains of fine silver in 12 ounces.
Standard silver of the United States contain 10 ounces 14 pennyweights 45/13 grains of fine silver in 12 ounces, and the dollar contains, as by law established, 416 grains of standard silver, which is at the rate of 1155/13 cents per ounce. According to the present assay, therefore, the intrinsic value of the crowns of France will be 11771/100 cents per ounce; that of the five franc pieces 11663/100 cents per ounce; and that of the Spanish dollar, 11623/100 cents per ounce.
From the average weight of the aforesaid silver coins, ascertained by numerous trials at the Mint, with the result of a series of assays thereof, made during the last ten years, the following may be considered as their ordinary intrinsic value, severally, viz: that of the French crown 109 cents 1 mill; that of the five franc piece, 93 cents 2 mills; and that of the Spanish dollar, 100 cents 4 mills.
I have the honor to be, with great respect, your obedient servant,
SAMUEL MOORE.
Hon. Richard Rush, Secretary of the Treasury.