Vietnam or Thailand ? Vote for the TOP Country of the Week !
Updated: June 12, 2025
The bullion and specie drawn from these countries, and especially from those of western Mexico and Peru, to an amount in value of many millions of dollars, are now annually diverted and carried by the ships of Great Britain to her own ports, to be recoined or used to sustain her national bank, and thus contribute to increase her ability to command so much of the commerce of the world.
In order to prevent a total stagnation, they further resolved, that after an appointed day no clipped money should pass in payment, except to the collectors of the revenue and taxes, or upon loans or payments into the exchequer; that after another day to be appointed, no clipped money of any sort should pass in any payment whatsoever; and that a third day should be fixed for all persons to bring in their clipped money to be recoined, after which they should have no allowance upon what they might offer.
"Well, all I can say is that I do not understand what you have to do with this worthy man." The falsely coined gold pieces deposited at Gyula Fehérvár, had, after the trial was over, to be sent to Hungary to be recoined. The precious consignment filled two post-wagons and was of the estimated value of a million and a half. Four and twenty Uhlans were told off to escort it.
It was resolved that the money of the kingdom should be recoined according to the old standard both of weight and of fineness; that all the new pieces should be milled; that the loss on the clipped pieces should be borne by the public; that a time should be fixed after which no clipped money should pass, except in payments to the government; and that a later time should be fixed, after which no clipped money should pass at all.
A large proportion of the specie imported has been paid into the Treasury for public dues, and after having been to a great extent recoined at the Mint has been paid out to the public creditors and gone into circulation as a currency among the people. The amount of gold and silver coin now in circulation in the country is larger than at any former period.
It proved necessary to prohibit their exportation, and to issue new coins of less bullion value, but this was the only really serious difficulty attending a fundamental reform which put the currency on a sound basis. The original pesos were recoined and a handsome profit made on the transaction.
The largest amount of foreign coin imported has been received at New York, and if a branch mint were established at that city all the foreign coin received at that port could at once be converted into our own coin without the expense, risk, and delay of transporting it to the Mint for that purpose, and the amount recoined would be much larger.
If a branch mint be established at the great commercial point upon that coast, a vast amount of bullion and specie would flow thither to be recoined, and pass thence to New Orleans, New York, and other Atlantic cities. The amount of our constitutional currency at home would be greatly increased, while its circulation abroad would be promoted.
The more valuable part of the freight, silk from Bagdad and shawls from Persia, pearls from Bassora, and good silver money which in Constantinople will be recoined into bad piasters, is small in proportion to the bulk carried. The camels go in strings of from ten to twenty, one behind the other.
The largest amount of foreign coin imported has been received at New York, and if a branch mint were established at that city all the foreign coin received at that port could at once be converted into our own coin without the expense, risk, and delay of transporting it to the Mint for that purpose, and the amount recoined would be much larger.
Word Of The Day
Others Looking