Lot 78
  • 78

(Hamilton, Alexander)

Estimate
7,000 - 10,000 USD
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Description

  • paper and ink
The Secretary of the Treasury Having Attentively considered the subject Referred to Him ... Relatively to the Establishment of a Mint, Most Respectfully submits the Result of His Enquiries and Reflections. [Philadelphia} Francis Childs and John Swaine, [1791]

Folio (13 1/2 x 8 1/4 in.; 348 x 210 mm, uncut) Caption title; light staining to first leaf, last two leaves spotted. Stabbed and stitched, blue paper wrappers; wrappers frayed, stained, and spotted. Brown cloth folding case.

Provenance

Acquisition: William Reese

Literature

Evans 23920; Ford, Bibiliotheca Hamiltoniana 184

Condition

Folio (13 1/2 x 8 1/4 in.; 348 x 210 mm, uncut) Caption title; light staining to first leaf, last two leaves spotted. Stabbed and stitched, blue paper wrappers; wrappers frayed, stained, and spotted. Brown cloth folding case.
In response to your inquiry, we are pleased to provide you with a general report of the condition of the property described above. Since we are not professional conservators or restorers, we urge you to consult with a restorer or conservator of your choice who will be better able to provide a detailed, professional report. Prospective buyers should inspect each lot to satisfy themselves as to condition and must understand that any statement made by Sotheby's is merely a subjective qualified opinion.
NOTWITHSTANDING THIS REPORT OR ANY DISCUSSIONS CONCERNING CONDITION OF A LOT, ALL LOTS ARE OFFERED AND SOLD "AS IS" IN ACCORDANCE WITH THE CONDITIONS OF SALE PRINTED IN THE CATALOGUE.

Catalogue Note

One  of Hamilton's most brilliant fiscal papers, issued shortly after his famous report on the public credit.  As early as 1782, Robert Morris had strongly recommended the establishment of a Mint. Congress resolved to look into the matter in 1786 and renewed its resolve 15 April 1790.

In the present report Hamilton outlines what sort of units of money should be issued, the proportion of gold to silver ocins, the true weights and alloys of the coinage, sizes, and denominations, and finally the actual personnel of the Mint. Hamilton's report was almost completely adopted when the Mint officially opened in the spring of 1792. With coinage being one of Jefferson's pet interests and with Hamilton already overburdened with work, Washington placed the Mint under Jefferson's jurisdiction at the State Department. Jefferson, however, mismanaged the Mint: and Hamilton tried in vain "to arrange a swap whereby the post office would go to State and in exchange for the mint coming under Treasury control, where it belonged. Despite this wobbly start, the mint became a Philadelphia fixture, and when the government moved to Washington, D.C., in 1800 it stayed behind in the interim capital" (Chernow, Alexander Hamilton, pp. 356–357).