DATE: May 4, 1805 

TOWN: New York 

SOURCE: New York Herald

The issues of silver coins, notwithstanding the mercantile embarrassments attending the importation of bullion, have greatly exceeded that of the year 1803; and the advantage at a public mint, has been sensibly experienced, by the greatest part of the deposits being issued in small coin, which has been found very beneficial to the citizens at large, under the late scarcity of Spanish dollars, occasioned by the great exportation of them for mercantile purposes. 

The quantity of gold bullion, has been equal to that of the last report, so that in the past year the coinage of the precious metals has amounted to 358,988 dollars. The particulars will appear by the schedule No. 1, herewith, to which the director begs leave to refer.*
It is worthy of the President's attention, that about 11,000 dollars of the gold coin, is the produce of virgin gold; found in the county of Cubarras, in the state of North Carolina, where it is said, a very considerable quantity has been found since the last deposits, and will in all probability, be forwarded to the mint. It is to be regretted, that this gold is melted into small ingots, before it is sent to the mint, for the convenience of carriage; but by which, there is reason to believe, a considerable proportion of it is wasted. It is also said, that the finest particles are neglected and only the large grains and lumps sought after. 

The increased price of copper in Europe, and the quantity on hand, have been thought sufficient reasons, to confine the coinage of cents to one press; and from the last accounts from Europe copper is likely to be considerably increased in price which will render the coinage of cents less profitable. The last year there have been issued, seven hundred and fifty-six thousand eight hundred and thirty-eight cents, and one million and fifty-five thousand three hundred and twelve half cents, equal to twelve thousand eight hundred and forty-four dollars and ninety-four cents, as appears by the same schedule, No.1. The amount of the cast of copper and profit on the whole coinage of cents this year will be seen in schedule No. 2.  

The coinage of the year amounts in the whole, to the sum of three hundred and seventy-one thousand eight hundred and twenty-seven dollars and ninety-four cents, and the number of pieces to two million forty-six thousand eight hundred and thirty-nine. 

The director thinks it his duty to mention to the President, that very considerable difficulty as well as danger may arise to the public, from the officers and workmen of the mint being exposed to be called out to attend militia meetings or on detachments. When large deposits of the precious metals are passing through the mint, and particularly when inclusion, it may be of the most dangerous consequences to have the officers and men called away or be liable to fines for non-attendance. It is too important a trust to be thus exposed .... The President in his wisdom will provide against this evil. 

(Signed) 

ELIAS BOUNDINOT, Director. 

Mint of the United States} 

Philadelphia, 1st Jun. 1805 } 

* The Schedules referred to in this document do not appear in the form which it is copied.