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U.S. Mint Report (1796)


Periodical Summary

U.S. Mint Director Elias Boundinot's report for 1796. Extracted from the American State Papers, class 3 (Finance), vol. 1, no. 103. This report was also issued in offprint format.

Paul Hybert's summary: "A report from mint director Elias Boudinot to President Washington, via Secretary of State Timothy Pickering, who relayed it to Congress at the President's direction. The mint learns the minting business through experience. A Melter and Refiner is added to the staff to process the large amounts of deposited bullion of nonstandard fineness. The requirement that depositors be paid in coin struck from that depositor's bullion makes for costly and inefficient procedures. The pieces set aside for the assay commission are taken from the amount due the depositors, so the depositors complain."

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