hearing what had taken place in Kaskaskia. The dread of the people was soon changed into huzzas for freedom and the Americans; while Maj. Bowman took possession of another British post at Cahokia. In a few days, the inhabitants took the oath of allegiance, and everything promised the utmost harmony. The visit of our countrymen soon dispersed a body of Indians, who were encamped in the neighborhood of Cahokia; at that time a place of considerable trade.

It may not be inappropriate here to advert to the age and condition of these ancient villages of Illinois, now for the first time subjected to the American arms. They had been founded by the French traders and missionaries, about 1690*; and had borne considerable fruits of prosperity for such remote interior places. These villages had been founded some few years before the City of Philadelphia, now flourishing under the auspices of American liberty, and as distinguished in arts and in learning, as she is justly famed for her virtues and her opulence. While, to exhibit the unhappy fluctuation of condition, so rare in the United States, Kaskaskia but some six or seven years the junior of Philadelphia, and planted under the protection of a powerful monarchy, numbered about one thousand inhabitants in 1842, and 315 by the census of 1850. It is at this day, what by the blessing of God is so uncommon in this most prosperous republic, a ruin; almost a deserted village, filled with the remains of the nicest masonry, in its wells and other crumbling works. It has indeed been doomed to a variety of visitations by "flood and field;" yet it is seated in the heart of the richest garden of nature, the earth offers, between two streams of most inviting capacity of navigation - the Mississippi and the Kaskaskia river. Is there not in store for this rich and beautiful site among the first born villages of Illinois, no redemption from its sad depression, in this day of artificial creations by the magic powers of steam?

• Annals of the West, 2d edition, 678. Bancroft, I. Other authorities, Dr Richard S. Fisher and McCulloch, date the settlement of Kaskaskia in 1683.

ARTICLE III.

Annual Report of the Director of the Mint.

MINT OF THE UNITED STATES,

Philadelphia, January 27, 1854.

SIR: I have the honor to submit the following report, in compliance with the act of Congress of the 18th of January, 1837:

The coinage, including gold bars, executed at the mint in Philadelphia in 1853, has amounted to $60,111,249 72; of which $36,355,621 were in gold coins, $15,835,997 94 were in refined gold bars, $7,852,571 were in silver coins, and $67,059 78 in copper coins. This coinage was comprised in 69,775,537 pieces, being more than twice the number of pieces ever before struck at the mint in a single year. The deposites received were $53,315,632 64 in gold, and $8,367,339 in silver, including silver purchases made pursuant to the act of March 3, 1853; making a tota of $61,682,971 64.

The coinage at the branch mint at New Orleans amounted to $3.445,000; of which $2,220,000 were in gold coins, and $1,225,000 in silver. The number of pieces struck was 6,532,000. The deposites were $2,152,254 16 in gold, and $4,536,131 06 in silver, including silver purchases-total $6,688,385 22.

The coinage at the branch mint at Charlotte, North Carolina, amounted to $339,370 in gold, comprised in 77,086 pieces. The deposites were $305.157 06, in gold.

The coinage at the branch mint at Dahlonega, Georgia, amounted to $462,918, in gold, comprised in 99,439 pieces. posites were $452,289 76, in gold.

The de

The total coinage of the mint and its branches for the year 1853 was as follows: gold, $55,213,906 94; silver, $9,077,571; copper, $67,059 78; total, $64,358,537 72.

It may be interesting to state, that one million of dollars weighs, in gold, 3,685 pounds avoirdupois; and in silver, 54,857 pounds. If 2,000 pounds be taken as the ton, it will be seen that our coinage operations during the last year reach about one hundred and two tons of gold, and two hundred and forty-nine tons of silver.

The amount of gold of domestic productions deposited at the mint and its branches during the last year was $55,622,051, of which sum $55,113,487 was from California, and the balance from the Atlantic States, except a few deposites from Oregon_of_the value of $13,535. These were the first deposites from that Territory, and are characterized by having an appreciable per centage of platinum sand.

The silver parted from the gold from California amounted to the sum of $407,133; in addition to which, there was received other silver of domestic production to the value of $10,146.

At the principal mint several deposites of Australian gold have been made during the past year, amounting to $195,000.

The entire coinage at the several mints, from the time they commenced operation, is as follows:

I annex to this report several tabular statements exhibiting the foregoing results somewhat in detail, and presenting some other statistics respecting the operations of the mint.

The diminution of the standard weight of the half dollar, and lower denominations of silver coins, authorized by the act of March 3, 1853, has been attended with good results. Under its opera

tions we have had a large supply of silver bullion; and the silver coinage of the new issue has reached the sum of $8,654,161, which is a larger amount than was struck during the five years preceding. Several millions of silver coins have thus been added. to the currency; and if the circulation of small notes could be excluded, so as to render the supply necessary, in a short time the new coin would be in general use in every part of our country. The appreciation of silver rendered the alteration necessary. The

silver coins of the former standard were issued at the rate of 116

4-11 cents per ounce. The average price of silver, of like fineness, at London and Paris, for several months past, has been 121 cents per ounce. It is very evident, therefore, that coin issued. under the former standard would be withdrawn from circulation, and we would have had no silver currency except the old and muchworn Spanish fractions of a dollar, the value of which is diminished from 10 to 12 per cent. It is proper to remark, that some misapprehension has prevailed in regard to the alteratien in the silver coin. The idea is erroneously entertained by many persons, that the fineness of the silver used in the new coin is below the former standard. The only change, however, is in the weightthe half dollar being now fourteen and a quarter grains below the former standard weight, and the smaller coins in the same proportion.

In England, since 1816, a silver currency has been maintained by similar means. There the depreciation of silver below gold, at the prices which ruled when the standards were adjusted by law, may be stated at 11 per cent. Our depreciation below the former standard, as compared with gold, is nearly 7 per cent. The profit to the British mint, when dollar silver is sold at five shillings per ounce in the London market, [which is an average price,] is 7 per

cent. If we bought silver at the same rate, our profit would be not quite 3 per cent but as our price of silver is 121 cents per ounce of standard fineness, there is an advance of 3 3-10 p. cent.

the new coin being issued at the rate of 125 cents per ounce. The apparent profit to the government is, therefore, 4 cents per ounce; but from this must be deducted certain expenses and wastage.

As soon as the wastage of the last year is determined, a report on the subject will be presented to the Treasury Department.

A charge of the half of one per cent. on the gold coinage is authorized to be made from and after the 1st of April last. The amounts of these charges at the mint and branches are as follows: At the

These sums will be transferred to the treasury of the United States, pursuant to the 6th section of the act of Congress before referred to.

The three-dollar gold coin, authorized by the last Congress, will be issued as soon as the dies, now in progress, are completed. From the close approximation in weight and value which the coin will bear to the quarter eagle, it has been deemed expedient to make the devices upon it different from any coin heretofore issued. The device adopted for the obverse is an ideal head, emblematic of America, enclosed within the national legend. The reverse will present a wreath indicating the most prominent productions of our soil, and enclosing the denomination and date of the coin.

The branch mint at San Francisco, California, it is expected, will be ready to receive deposites and commence operations about the 1st of March next. In consequence of a change in the grade of the street on which the building is being erected, more time will be consumed in its completion than was anticipated. The machinery, which was constructed in Philadelphia, arrived there in good condition on the 12th of December last; but a portion of the fixtures and apparatus had not arrived on the 30th of December, the date of my last advices, the vessel containing them having then been out one hundred and forty-five days. These circumstances will probably delay the commencement of coining operations until the time above stated. The coins to be issued by this branch of the mint will be designated by the letter S on the reverse. It is proper to remark, that the coins of the other branches are designated as follows: New Orleans by the letter 0; Dahlonega, D;

Charlotte, C. The coins of the principal mint are not marked by any letter.

The building which is designed for the assay office at New York will be erected and completed in April next. The machinery, apparatus, and implements, will be ready for use as soon as the building is prepared to receive them. We may, therefore, expect operations to commence on the last of April or in the early part of May next.

The result of the overtures recently made to artists and other persons of taste to present designs for the silver coinage, has not been satisfactory. Many designs, and some medallions, were presented, some of them of considerable merit, but their general deficiency consisted in a want of adaptation to the object in view. In making any important change in the designs of the coinage, it seems proper that those which are to be substituted should be of decided and incontestable superiority. The result of the effort has thus produced a conviction favorable to the designs heretofore adopted and in use; our attention will therefore be turned to their artistic improvement, without materially changing their national or emblematic character.

The disturbance of the relative values of gold and silver, and the consequent effects upon national and international currencies upon coinage, and upon pecuniary contracts, is a very large inquiry frequently under discussion in commercial circles, in the public prints, and in halls of legislation. I barely allude to the s:bject, without entering upon it, further than to offer one or two practical suggestions. According to well considered estimates, the production of the gold and silver mines of the world at the commencement of the present century not taking into account those countries of Asia which were nearly shut out from the intercourse of nations-was in the proportion of one ounce of gold to forty-six ounces of silver. Immediately before the opening of California, it had probably changed to one ounce of gold against seventeen ounces of silver. An average of the productions of the years 1852 and 1853, upon the same broad scale, appears to give a result of one ounce of gold to less than four ouces of silver. And yet, from the first of these periods to the last, there has been no great divergence in the bullion market from the relative proportion of one ounce of gold to sixteen ounces of silver. Surely this striking fact ought to allay the feeling of alarm so often experienced as to the abandant production of one metal and the diminished supply of the other. There is, in fact, a happy accommodation in the commercial world to these varying relations. When gold was scarce, silver was the great metallic basis, and the former metal was rather used as an adjuvant, specially adapted to some of the wants of trade. But since gold has become plenty, and silver comparatively scarce, the wealthier nations of the world