That we may the more speedily and fully avail ourselves of the
undeveloped wealth of these mines, it is deemed of vast importance
that a branch of the Mint of the United States be authorized to be
established at your present session in California. Among other signal
advantages which would result from such an establishment would be that
of raising the gold to its par value in that territory. A branch mint of
the United States at the great commercial depot on the west coast would
convert into our own coin not only the gold derived from our own rich
mines, but also the bullion and specie which our commerce may bring from
the whole west coast of Central and South America. The west coast of
America and the adjacent interior embrace the richest and best mines of
Mexico, New Granada, Central America, Chili, and Peru. The bullion and
specie drawn from these countries, and especially from those of western
Mexico and Peru, to an amount in value of many millions of dollars, are
now annually diverted and carried by the ships of Great Britain to her
own ports, to be recoined or used to sustain her national bank, and thus
contribute to increase her ability to command so much of the commerce of
the world.
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