Page:The American Cyclopædia (1879) Volume V.djvu/30

26 England, 1694," and " God preserve Carolina and the lords proprietors, 1694." As early as 1662 an act was passed by the provincial assembly of Maryland "for the getting up of a mint within the province." It is probable, however, that the mint was never established; but shillings, sixpences, and fonrpences of silver were made in England under the direction of Lord Baltimore, and sent to the colony, having on the obverse a profile bust of Lord Baltimore, with the legend Cacilius: Dns: Terra: Maria: &c.; reverse, an escutcheon with family arms, value of the piece, and the legend, Crescite: et: Multiplicamini. There were also copper halfpennies with the same obverse, and having on the reverse the legend, Denariem: Terra- Maria, and in the centre two flags on a ducal coronet. New Hampshire legislated for a copper coinage in 1766; but, as in the case of Virginia and Maryland, nothing more was done. In the reign of George I. an attempt was made to introduce into general circulation in the colonies coins made of Bath metal or pinchbeck, having on the obverse the head of that king and the legend, Georgius D. G. Mag. Bri. et Hib. Rex; and on the reverse a large double rose with the legend Rosa Americana, Utile Dulci, 1722 and 1723, in the last the rose being crowned. These coins were made by William Wood, under a royal patent " for coining small money for the English plantations, in pursuance of which he had the conscience to make 13 shillings out of a pound of brass." This "Wood's money," however, was vehemently rejected both here and in Ireland, where strenuous efforts were made to introduce it. From 1778 to 1787 the power of coinage was exercised not only by the confederation in congress, but also by several of the individual states. In Vermont a mint was established by legislative authority in 1785, in the town of Rupert, and copper cents were issued of the following description: Obverse, a sun rising from behind hills, and plough in the foreground, with the legend, Vermontensium Res Publica, 1786; reverse, a radiated eye surrounded by 13 stars, with the legend, Quarta Decima Stella. Some of the cents of 1786 and all those of 1787-'8 have on the obverse a head, with the legend, Auctoritate Vermontensium, and on the reverse a woman, with the legend, Inde. Et Lib. Connecticut followed the example of Vermont, and in the same year, 1785, authorized the establishment of a mint at New Haven, and copper coins were issued, weighing six pennyweights, and having on the obverse a head with the words Avctori. Connec: reverse, a female figure holding an olive branch, with the legend, Inde. Et Lib. 1785. This mint continued in operation three years. New Jersey authorized a copper coinage in 1786. The parties procuring the patent established two mints, one at a place known as Solitude, about two miles west of Morristown, and the other at Elizabeth. The coins are thus described: Obverse, a horse's head with a plough beneath legend, Nova Casarea, 1786, &c.; reverse, a shield legend, EPluribus Unum. Massachusetts, by act of Oct. 17, 1786, directed the establishment of a mint, and the following year the necessary works were erected on Boston neck and at Dedham. In 1788 cents and half cents were issued, exhibiting on the obverse the American eagle with arrows in the right talon and an olive branch in the left, a shield on its breast bearing the word " Cent "legend, " Massachusetts, 1788;" reverse, an Indian holding a bow and arrow legend, "Commonwealth" and a star. As early as January, 1782, a plan for an American coinage was submitted to congress by Eobert Morris, the head of the finance department, the authorship of which is, however, claimed for Gouverneur Morris. In February following congress approved the establishment of a mint, but no further action was taken till 1785, when congress adopted the plan of a national coinage presented by Thomas Jefferson, and in 1786 decided upon the following names and characters of the coins: An eagle, to contain 246 T 2 m g rs - of fi ne g ld, value $10, and half eagle in proportion, both to be stamped with the American eagle; a dollar, to contain 375 T 6 ^ grs. of fine silver; a half dollar, double dime, and dime, in proportion. The copper coins were a cent and half cent. In October, 1786, congress framed an ordinance for the establishment of a mint; but nothing further was done till 1787, when the board of treasury, by authority of congress, contracted with Mr. James Jarvis for 300 tons of copper coin of the federal standard. These cents were coined at the New Haven mint, and are of the following description: On one side, 13 circles linked together, a small circle in the middle with the words " United States " around it, and in the centre the words, " We are one;" on the other side, a sun dial with the sun above it, and Fugio, 1787, on opposite sides, and below the dial, " Mind Your Business." A few of these pieces are said to have been struck in the Vermont mint at Rupert. On April 2, 1792, a code of laws was enacted for the establishment and regulation of the mint, under which, with slight amendments, the coinage was executed for 42 years. The denominations of coin and their rates were as follows: Gold, the eagle of $10, to weigh 270 grs., the half eagle and quarter eagle in proportion, all of the fineness of 22 carats, or 91 6# thousandths; silver, the dollar of 100 cents, to weigh 416 grs., the half dollar, quarter dollar, dime of 10 cents, and half dime in proportion, the fineness to be 1,485 parts fine in 1,664, or 892-4 thousandths; copper, the cent of 264 grs., the half cent in proportion. The same act declared the dollar to be the unit of federal money, and directed that all public accounts should be kept in conformity to the decimal system of coins above described. After the act of 1792 the following changes in the currency occurred: Jan. 14, 1793, the cent reduced to 208 grs., and half