uantity of pure metal in
each, and from them form an average for our Unit. This is a work proper
to be committed to mathematicians as well as merchants, and which should
be decided on actual and accurate experiment.

The quantum of alloy is also to be decided. Some is necessary, to
prevent the coin from wearing too fast; too much, fills our pockets with
copper, instead of silver. The silver coin assayed by Sir Isaac Newton,
varied from 1 1/2 to 76 pennyweights alloy, in the pound troy of mixed
metal. The British standard has 18 dwt.; the Spanish coins assayed by
Sir Isaac Newton, have from 18 to 19 1/2 dwt.; the new French crown has
in fact 19 1/2, though by edict it should have 20 dwt., that is 1/12.

The taste of our countrymen will require, that their furniture plate
should be as good as the British standard. Taste cannot be controlled
by law. Let it then give the law, in a point which is indifferent to a
certain degree. Let the Legislatures fix the alloy of furniture plate
at 18 dwt., the British standard, and Congress that of their coin at one
ounce in the pound, the French standard. This proportion has been found
convenient for the alloy of gold coin, and it will simplify the system
of our mint to alloy both metals in the same degree. The coin too, being
the least pure, will be the less easily melted into plate. These reasons
are light, indeed, and, of course, will only weigh, if no heavier ones
can be opposed to them.

The proportion between the values of gold and silver is a mercantile
problem altogether. It would be inaccurate to fix it by the popular
exchanges of a half Joe for eight dollars, a Louis for four French
crowns, or five Louis for twenty-three dollars. The first of these,
would be to adopt the Spanish proportion between gold and silver;
the second, the French; the third, a mere popular barter, wherein
convenience is consulted more than accuracy. The legal proportion in
Spain is 16 for 1; in England, 15 1/2 for 1; in France, 15 for 1.
The Spaniards and English are found, in experience, to retain an over
proportion of gold coins, and to lose their silver. The French have a
greater proportion of silver. The difference at market has been on the
decrease. The Financier states it at present, as at 141/2 for one. Just
principles will lead us to disregard legal proportions altogether; to
inquire into the market price of gold, in the several countries with
which we shall principally be connected in commerc