Operations of the Mint of the United States, 1839.

MESSAGE
from
THE PRESIDENT OF THE UNITED STATES,

Transmitting
A report showing the operations of the mint during the year 1839.

February 12, 1840.

Referred to the Committee of Ways and Means.

To the House of Representatives of the United States:

I transmit herewith to the House of Representatives, a report from the director of the mint, showing the operations of that institution during the year 1839.

M. VAN BUREN.

Washington, D.C., February 1, 1840.

Mint of the United States,
Philadelphia, January 30, 1840.

Sir: In compliance with the law which requires that “in the month of January of every year the director shall make report to the President of the United States of the operations of the mint and its branches for the year preceding,” I have the honor to submit to you the following statements:

The coinage executed at this mint, in 1839, amounted to $3,021,170 11, comprising $1,040,747 50 in gold, $1,949,136 in silver, and $31,286 61 in copper, and composed of 9,260,345 pieces. (Statement A.)

The deposites of gold within the year amounted to $1,042,500, of which $138,500 was derived from the mines of the United States. (Statements B and C.)

The deposites of silver amounted to $1,851,500, and consisted principally of Mexican dollars. (Statement E.)

At the close of the year, the public funds in our vaults under the laws authorizing deposites with the mint for the purchase of metals for coinage, and for securing prompt payments to depositors, amounted to $516,697 04, in gold and silver. The amount withdrawn during the year, on Treasury drafts, was $648,730 58, and the amount added $33,000.

The coinage at the New Orleans branch mint, up to the 17th of August, when operations were suspended, amounted to $227,160 in silver, composed of 2,401,600 pieces of coin. (Statement D.)

The deposites for coinage during the same period amounted to $85,159 in gold, and $173,901 in silver. (Statement F.)

I have to regret that after keeping back this annual report to the last day allowed by the law, in the expectation of obtaining from the New Orleans mint the information necessary to enable me to include its operations to the close of the year, this information has not been received; and that my report, so far as it regards this branch, is, therefore, necessarily incomplete. I may state, however, that the amount of deposites and coinage thus left unreported must be inconsiderable.

The efficiency of this branch of the mint has been greatly reduced during the year by causes which are deeply to be deplored. First, disagreements arose among the officers, which ended in mutual denunciations, and rendered an investigation necessary as to the characters of those implicated and the state of the institution generally. The task was committed to the United States district attorney at New Orleans, and was executed with ability and impartiality. The result showed that, although there was no reason for suspecting the integrity of any of the officers, the condition of things at the mint was such as to require painful measures of reform, which the Government did not hesitate to apply. Scarcely was this investigation ended, before the fatal epidemic, to which New Orleans is subject, made its appearance at the mint, and rendered an entire suspension of its operations absolutely necessary. The melter and refiner, and the coiner, both officers of great merit, fell at their posts, victims to the disease; and four of the workmen also lost their lives, while scarcely one escaped without an attack.

Under these circumstances, it cannot be matter of surprise that so little has yet been accomplished at the New Orleans mint. The prospects for the future, however, are more cheering. The institution has now an able corps of officers, all of whom are acclimated, as are also nearly all the workmen. There is reason, therefore, to believe that the operations of the mint may go on without further interruption, and that the just expectations of the public with regard to it may be no longer disappointed.

The branch mint at Charlotte received, during the year, deposites of gold to the value of $126,836. The amount of its coinage was $162,767 50, composed of 23,467 half-eagles, and 18,173 quarter-eagles. (Statements D and F.)

The branch mint at Dahlonega received, during the year, deposites of gold to the value of $113,035; and its coinage amounted to $128,880, composed of 18,939 half-eagles, and 13,674 quarter-eagles. (Statements D and F.)

Thes two mints, established for the exclusive coinage of gold, are in a very satisfactory condition, and are fully able to execute much more work than has yet been required of them.

In my last annual report I took the liberty of calling your attention to the fact that the law of June 28, 1834, gave too high of a valuation to foreign gold coins, so as to lead the community into error with regard to them, and to prevent, in a great measure, their recoinage. As the capacity of the mint and its branches is now abundantly sufficient for all the gold coinage necessary for the metallic circulation of the country, the reasons which led to the act making foreign gold coins a legal tender are presumed to be removed; and as, moreover, the conditions of this tender are certainly erroneous, I would again express my hope that the attention of Congress may be directed to the subject, and would respectfully recommend that the act in question be repealed.

I have the honor to be, sir, with great respect, your faithful servant,

R.M. PATTERSON,
Director of the Mint.

To the President of the United States.

A.

Statement of the coinage at the Mint of the United States, Philadelphia, in the year 1839.

B.

Statement of deposites of gold, for coinage, at the Mint of the United States, Philadelphia, in the year 1839.

C.

Statement of the annual amounts of deposites of gold for coinage at the Mint of the United States and its branches, from the mines of the United States.

D.

Statement of the amount of coinage at the branch Mints in the year 1839.

E.

Statement of deposites of silver for coinage, at the Mint of the United States, Philadelphia, in the year 1839.

F.

Statement of deposites, for coinage, at the Branch Mints, in the year 1839.

G.

Recapitulation of deposites and coinage at the Mint of the United States and branches, in the year 1839.

H.

Tabular statement of the amount of coinage at the Mint of the United States, in the several denominations of coin, from the commencement of its operations until the 31st of December, 1839, inclusive.

RECAPITULATION.

I.

Recapitulation of the amount of coinage at the Mint of the United States and its branches, from the commencement of operations to December 31, 1839.