blem altogether, and that,
perhaps, fifteen for one, might be found an eligible proportion. The
Financier is so good as to inform me, that this would be higher than
the market would justify. Confident of his better information on this
subject, I recede from that idea.*

* In a Newspaper, which frequently gives good details in political
economy, I find, under the Hamburg head, that the present market
price of Gold and Silver is, in England, 15.5 for 1: in Russia, 15: in
Holland, 14.75: in Savoy, 14.96: in Fiance, 14.42: in Spain, 14.3: in
Germany, 14.155: the average of which is 14.615 or 14 1/2. I would still
incline to give a little more than the market price for gold, because of
its superior convenience in transportation.

He also informs me, that the several coins in circulation among us, have
already been assayed with accuracy, and the result published in a work
on that subject. The assay of Sir Isaac Newton had superseded, in my
mind, the necessity of this operation as to the older coins, which were
the subject of his examination. This later work, with equal reason, may
be considered as saving the same trouble as to the latter coins.

So far, then, I accede to the opinions of the Financier. On the other
hand, he seems to concur with me, in thinking his smallest fractional
division too minute for a Unit, and, therefore, proposes to transfer
that denomination to his largest silver coin, containing 1000 of the
units first proposed, and worth about 4s. 2d. lawful, or 25/36 of a
dollar. The only question then remaining between us is, whether the
Dollar, or this coin, be best for the Unit. We both agree that the ease
of adoption with the people, is the thing to be aimed at.

1. As to the Dollar, events have overtaken and superseded the question.
It is no longer a doubt whether the people can adopt it with ease; they
have adopted it, and will have to be turned out of that, into another
track of calculation, if another Unit be assumed. They have now two
Units, which they use with equal facility, viz. the Pound of their
respective state, and the Dollar. The first of these is peculiar to each
state; the second, happily, common to all. In each state, the people
have an easy rule for converting the pound of their state into dollars,
or dollars into pounds; and this is enough for them, without knowing how
this may be done in every state of the Union. Such of them as live near
enough the borders of their state to have dealing