1808 Mint Report on Regulation of Foreign Coins
United States Government. LETTER FROM THE SECRETARY OF THE TREASURY, TRANSMITTING A REPORT PREPARED IN OBEDIENCE TO "AN ACT REGULATING THE CURRENCY OF THE FOREIGN COINS IN THE UNITED STATES." City of Washington: A. & G. Way, Printers, January 19, 1808. 8vo, self-covered, as issued. 8 pages. Removed from previous binding; very good. The first copy we recall having handled. Prepared by Mint Director Robert M. Patterson, whose assays of the major foreign coins then circulating in the United States (gold coins of Great Britain, Portugal, France and Spain, and silver coins of France and Spain) indicated that while the gold coinage of Great Britain and Portugal had been rated at their intrinsic value, the gold coins of France and Spain were overrated and required adjustment. The silver coins of France and Spain were more variable, with French crowns and Spanish dollars being of good weight, but with French 5 francs and Spanish pistareens being somewhat inferior and requiring adjustment. Patterson notes that: "It may, however, be observed that all foreign gold coins have now nearly ceased to circulate as a currency in the United States. Deposits of these are still, indeed, frequently made in our banks; but are thence either sent to the mint for coinage, or re-issued for the purpose of exportation." Secretary of the Treasury Albert Gallatin then transmits Patterson's report (which is dated December 24, 1807) to the Speaker of the House of Representatives with recommendations for adjustments to the ratings of coins described. Rare and most interesting.