1VII. Propositions Respecting the Coinage of Gold, Silver, and Copper, [13 May 1785] (Jefferson Papers)
First. The value of silver compared with gold. Second. The weight or size of the several pieces of money that are to be made. Third. The money arithmetic, or the mode in which it is to be counted; and fourth, The charges of coinage are to be considered. 1. In France, 1 grain of pure gold is counted worth 15 grains of silver. In Spain, 16 grains of silver are exchanged for 1 of gold, and in...
2III. Some Thoughts on a Coinage, [ca. March 1784] (Jefferson Papers)
Some Thoughts on a Coinage, and the Money Unit for the U.S. Transition from money to weights. Transition from weights to measures. Transition from measures to time. I find new dollars of 1774,80,81 (qu. Mexico Pillar) weigh 18 dwt. 9 grs.=441 grs. If of this there be but 365 grs. pure silver, the alloy would be of 2.1 oz. in the ℔. instead of 19 dwt. the common Spanish alloy, which is 1 dwt....
3VI. Notes for Reply to Robert Morris, [7–9 May 1784] (Jefferson Papers)
Whether the parts of the Unit had better be a measure of the [curre]nt money of account or of the dollar. Obj. Easy to make any coin circulate at it’s value. Ans. Still it is a duty to make it’s introduction easy as we can to the people. Obj. The dollar is no money of account. No merchant keeps his books in dollars. Therefore the adoption of the dollar as the Unit will not save him the trouble...
4IV. Notes on Coinage, [March–May 1784] (Jefferson Papers)
Notes on the establishment of a Money Unit, and of a Coinage for the United States. In fixing the Unit of money, these circumstances are of principal importance. I. That it be of convenient size to be applied as a measure to the common money transactions of life. II. That it’s parts and multiples be in an easy proportion to each other, so as to facilitate the money arithmetic. III. That the...
5V. Robert Morris to Jefferson, 1 May 1784 (Jefferson Papers)
I have received your favor of the twenty sixth Instant for which I pray you to accept my Thanks. Enclosed you have the Copy of my Letter of the fifteenth of January 1782. to Congress and also Mr. Governeur Morris’s Letter to Mr. Helmly of the thirtieth of April 1783. I will add to these such Observations as have occurred on your Notes which agreably to your Desire are herewith returned. I...