OGDEN PROPOSAL DIRECT POST 上市 Deposited
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Subject: OGDEN PROPOSAL DIRECT POST
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23 January 2002
Typescript prepared by James C. Spilman; The Colonial Newsletter
Foundation, Inc.
===========================================
Mar 23, 1787
Letter Transmitting proposals of Matthias Ogden
Ellzabeth town Mar. 23rd 1787
Gentlemen
In Consequence of the letter I had the honor of receiving from your
Board I take the Liberty of Incising to you the Proposals of myself and
associates respecting the Coinage of Copper. Doubtless there have been
many applications to you on this subject But I trust there has been
none that wear greater Marks of Candor, have the Interest of this
Country more in View of which will be more likely to render Congress
the services required. In 14 days we can begin the Work every thing
necessary is already prepared and before any Company on this Continent
(if there are any adequate to it) can Erect works and a sufficient
Establishment to carry the Contract into Effect, we can nearly finish
it. and we add with Confidence with better Execution. In behalf of
myself and Associates I have the Honor to be
Gentian yr. most Obedt & very Hble Servt Matthias Ogden
Primary Source: Papers of the Cont. Congr., No. 139, II, 500
===============================================
Proposals Of Matthias Ogden and Associates
The proposals hereunto annexed are founded upon the following
Suppositions.
First That Congress will receive in Payment for Continental Taxes the
Coppers under the following Contract Len such proportion as is affixed
by their ordinance.
2ndly That they will permit the party contracting to purchase the
Crude Copper they have now on hand or will suffer them to Refine Sheet
Blank & Coin it on the terms hereafter mentioned.
3dly As it will be for the Honor of the States that the Circulating
Medium of Copper should be pure the suppression of the Coinage of base
and light Coppers will doubtless be considered by Congress as an Object
worthy their Attention & Recommendation.
4thly On this ground it is presumed that the Circulating Medium to be
coined on the following terms, cannot be less upon the Suppression of
the Base & light Coppers when apportioned to the different States than
three hundred tons of Copper Coined.
On these Grounds it is proposed
First To take the Crude Copper now in the Possession of Congress (a
sample of which has already been shown us) at a Price hereafter to be
agreed upon - which we will Refine Sheet Blank Mill & Coin and pay the
amount to be agreed in Coppers Delivering to Congress ~ 350 every week
until the whole is paid. Or we will Refine Sheet & Blank the Crude
Copper and Clone lt. under the Inspection of a person to be appointed
by Congress for that purpose at the Rate of l5d per lb. Free from any
expense except the Salary of the person appointed to inspect the
Coinage.
Our works being now Compleat and. every Implement necessary to Carry on
the Business already prepared we propose to Refine Sheet Blank & Coin
the residue of the Three hundred Tons within the space of Two Years
From the date of the Contract. The Coinage to be carried under the like
Inspection as before mentioned free from any expense to Congress except
the Officers salary before-mentioned and to pay Congress Fifteen pounds
on every Hundred pounds coined. Fifty pounds weight to be furnished
Congress in Samples previous to the Contract as a Standard or
Impression & Quality. The Coins to bear a Federal Device and to be Two
Pounds and one quarter to the Federal Dollar. The above Propositions
the Board will readily perceive are made upon the principle of carrying
into Effect a Manufactory hitherto unknown in this Country - The
Smelting Refining & Sheeting Copper from the Raw Materials And it is a
fact well known that this Country abounds with almost every different
Species of Ore. We have the highest Confidence that every Sanction in
the Power of Congress will be given for the Encouragement of its own
Arts and Manufactures- Especially too when it is remembered how large a
quantity of that Ore & Metal Yearly been transmitted to Europe from
this Continent and there Manufactured to the great Injury of the
Commerce of this Country.
And as at a future day Congress may find it Convenient to Establish a
Coinage or different Metal the Credit of which will solely depend on
the preservation of its Purity, We Shall be ever Ready to Smelt Refine
& Assay for them and to instruct others in that art under their
Direction. To prevent the many Impositions which Young Countries in
this Business are subjected to - And lastly
We propose to give Ample security for the punctual performance of the
Contract
Matthias Ogden & his Associates
Elizabeth town
March 23d 1787
NB The necessity of the Contract being carried into Effect Immediately
will appear by a resolve of Congress that no Copper Coin bearing a
foreign Impression shall pass after the first day of Septr next.
Primary Source: Papers of the Cont. Congr., No. 139, pp 501-504 - 2002-01-23
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