COST OF COINAGE AT THE U. S. MINT AND ITS BRANCHES. We compile the following particulars of the cost of coinage at the several mints of the United States, from a report laid before Congress, March 31, 1842— The cost of coining 100 pieces at the New Orleans branch mint was, for 1838, $15 40; for 1839, $2 99; for 1840, $1 50; and for 1841, $1 41. The cost of coining 100 pieces at the Charlotte branch mint was, for 1838, $72 18; for 1839, $35 30; for 1840, $37 70; and for 1841, $37 79. The cost of coining 100 pieces at the Dahlonega branch mint was, for 1838, $67 04; for 1839, $42 62; for 1840, $43 51; and for 1841, $28 50. The actual cost of coining $100 worth at the Philadelphia mint was, for 1838, $1 52; for 1839, $2 07; for 1840, $2 48; and for 1841, $4 34; the average of the four years being $2 23. The cost of coining $100 worth at the New Orleans branch mint was, for 1838 $154 06; for 1839, $19 72; for 1840, $5 68; and for 1841, $8 12; the average for the last two years the first two not being a fair criterion of the average cost, being $6 68. The cost of coining $100 worth at the Charlotte branch mint was, for 1838, $17 82; for 1839, $9 03; for 1840, $9 44; and for 1841, $9 02; the average of the four years being $10 59, and that of the last three years $9 15. The cost of coining $100 worth at the Dahlonega branch mint was, for 1838, $12 43; for 1839, $10 78; for 1840, $9 32; and for 1841, $6 06; the average of the four years being $9 47. The actual cost of coining $100 worth at the Philadelphia mint was, for 1838, $1 52; for 1839, $2 07; for 1840, $2 48; and for 1841, $434; the average of the four years being $2 23. The cost of coining $100 worth at the New Orleans branch mint was, for 1838, 8154 06; for 1839, $19 72; for 1840, $5 68; and for 1841, $8 12. The first of these should be excluded, and perhaps the second, as any foundation for a judgment respecting this mint. The average for the last two years was $6 68. The cost of coining $100 worth at the Charlotte branch mint was, for 1838, $17 82; for 1839, $9 03; for 1840, $9 44; and for 1841, $9 02; the average of the four years being $10 59, and that of the last three years $9 15. The cost of coining $100 worth at the Dahlonega branch mint was, for 1838, $12 43; for 1839, $10 78; for 1840, $9 32; and for 1841, $6 06; the average of the four years being $9 47; and that of the last three $8 49. The cost of coining 100 pieces of coin at the Philadelphia mint was, in 1838, $0 39; for 1839, 80 67; for 1840, $0 79; and for 1841, $1 12; the average for the four years being 64 cents. The cost of coining 100 pieces at the New Orleans branch mint was, for 1838, $15 40; for 1839, $299; for 1840, $1 50; and for 1841, $1 41. The cost of coining 100 pieces at the Charlotte branch mint was, for 1838, $72 18; for 1839, $35 30; for 1840, $37 70; and for 1841, $37 79. The cost of coining 100 pieces at the Dahlonega branch mint was, for 1838, $67 04; for 1839, $42 62; for 1840, $42 51; and for 1841, $28 50. For a complete and comprehensive view of the movement of the United States Mint and its branches, see Merchants' Magazine, for April, 1842, vol. 6, number 4, pp. 375, 376, 377, 378, 379, 380, 381. L-COINAGE OF THE BRANCH MINTS OF THE UNITED STATES. Statement of the amounts coined annually at the branch mints, from the commencement of their operations until December 31, 1841. II.-DEPOSITS FOR COINAGE AT THE UNITED STATES MINT AND ITS BRANCHES. Statement of the Annual Amounts of Deposits of Gold for Coinage, at the Mint of the United States and 46,000 1829 $2,500 134,000 $3,500 1830 24,000 204,000 26,000 $212,000 300 604,331 2,815,235 355,559 2,051,109 15,516 200 171,700 $127,000 $135,700 $700 $263,400 138,500 126,836 113,035 6,869 246,740 385,240 6,794 13,400 5,861,944 508,409 532,567 12,222 1,053,198 6,915,142 46,000. 21,000 46,000 282,000 435,100 Georgia and North Carolina to the principal mines. and coined by the principal mint, notwithstanding the vicinity of the branch mints in half of the whole amount of gold obtained from the mines of the United States and deposited for coinage, since the establishment of the branch mints, has been deposited at rations, the amount has greatly diminished. It will be observed, also, that nearly onethe branch mints, and the stimulus which they were expected to give to the mining ope1834, when it reached its maximum. Since then, notwithstanding the establishment of of gold from the mines in the United States, deposited for coinage, rapidly increassd till It will be seen by this table that, from and including the year 1829, the annual amount BANK STATISTICS. PRICE OF BANK NOTES AT PHILADELPHIA FOR TWENTY-EIGHT YEARS, FROM 1814 TO 1841. The following table was prepared by William M. Gouge, Esq., editor of the "Journal of Banking," and author of "A Short History of Paper Money and Banking." It was compiled (with the exception of the column for 1841) from various tables, prepared by Mr. Gouge or under his direction, while in the Treasury Department. It is well worth the labor that has been bestowed upon it, for to those who will make a proper use of it, it will serve as a condensed history of the currency for more than a quarter of a century. A few prominent facts should be borne in mind in perusing this table. On the 30th of August, 1814, the Philadelphia banks suspended specie payments for the first time, and the other banks in the middle and southern states within a week or two of that date. The New Orleans banks had suspended payment in the April previous; but the banks of Kentucky and Ohio continued to pay specie till about the 1st of January, 1815; and the only bank then in Tennessee did not suspend payment till July or August, 1815. Through the whole of this, the first general suspension of specie pay. ments, the banks of New England continued to pay specie, with the exception of a few banks in Maine that stopped payment early in 1814. During the first suspension of specie payments, the notes of non-specie-paying banks were received in payment of public dues. On the 1st of January, 1817, the Bank of the United States commenced operations at Philadelphia. Of the effect it had in "regulating the currency," the reader can judge for himself. The table gives the prices of western and southern bank notes at Philadelphia, in that and each subsequent year. On the 21st of February, 1817, the United States government refused any longer to receive the notes of non-specie-paying banks in payment of public dues. In 1824, the system known as the Suffolk Bank system (a description of which was published in vol. v. pages 261, 262, of the Merchants' Magazine) was adopted in New England. The reader, on scanning the table, will not fail to be struck with the uniformity of value which the notes of the many hundred banks of the eastern states have since maintained, and this whether the banks have sustained or suspended specie payments. On the 11th of May, 1837, the New York and Natchez banks suspended specie payments; and as fast as the news spread from these two cities, east, west, north, and south, the other banks suspended also. In this, the second general suspension of specie pay. ments, the banks of New England were included. In one year afterwards, or in May, 1838, the New York banks resumed specie pay. ments, and their conduct was immediately followed by the banks of New England. These banks have since (with the exception of the banks of Rhode Island) steadily maintained specie payments. In August, 1838, the banks of Philadelphia professed to resume specie payments; and by the 1st of January, 1839, there was at least a nominal resumption of specie payments throughout the Union. In a little more than a year, or on the 9th of October, 1839, the banks of Philadelphia suspended specie payments for the third time, and their example was quickly imitated by all the banks to the south and west, and also by the banks of West Jersey and Rhode Island. The Bank of Missouri did not, indeed, suspend payment on its own notes; but as it traded on the notes of other western banks, it became an issuer of inconvertible paper. The banks of Rhode Island soon resumed specie payments. The banks of South Carolina resumed specie payments in June or July, 1840. All the other banks to |