DATE: March 3, 1802

TOWN: Worcester, MA

SOURCE: Massachusetts Spy or Worcester Gazette

The Mint

The actual expenses of last year are as follows:
 

The issue of coins are as follows:
 

   
The profits on coining cents, when copper is regularly supplied, is at least dollars 5000 per annum, which being deducted from the expenses as above stated, would reduce them to dollars 14,263.33.

On the sum coined at the mint, nearly 300,000 dollars thereof was coined from bullion and lumps of gold and silver that was imported into the United States, and which would have been shipped to Europe if there had not been a mint established here, and in case the merchants must have paid freight, insurance and commissions, during the late troubles, would have amounted to 10 per cent, but suppose it was only 6 per cent, it would amount to upwards of dollars 16,000, which exceed the whole expense of the mint to the Union. Thus the mint in wealth pays for itself, while, the citizens at large received the benefit of dollars 300,000 (exclusive of the cents) being added to the current coin of the Union, and prevents their being imposed upon by receiving foreign ones, the value of which are not so exactly ascertained.

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