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r,Y THE Rev. EDMUND P. SLAFTBR, A. M.,

I\Icml:cr of the Lcston Numismatic Society; Co^esponding Memher of the Vermont

Historical Society, etc.

REPRINTED FROxV THE FIRST VOLUME OF THE COLLECTIONS OF THE

VERMONT HISTORICAL SOCIETY.

FIFTY COPIES ONT.Y PRINTED.

MONTPELIER, YT.:

V E R 31 O N T HISTORICAL SOCIETY.

M.DCCC.LXX.

Cop3'right secured.

j. ct J. 3tr.

I’OLANT), nUNTEUS.

TIII'J VERMONT COINAGE.

BY THE REV'. EDMUND F. SLAFTER, A. M.,

Jlernher of the lioaloii Nimiismatw Sodetij ; Corretipomliwj Maiihcr of the Vennont Historical iSocietu, etc.^ etc.

r>EF()iiE entering upon a description of the Coinage of Vermont, a few l)rief statcincnts of a general character seem to be iieccssarY in explanation of some of the terms employed, and of the historical relations of the subject.

Coins arc a specific form of money, the latter comprelicnding all established mediums of cxcliangc. In the early periods of the world, and in diftcrent stages of civilization, a great variety of materials were used as money. The precious metals, hovvev'er, be¬ gan soon to be employed cxclusiv'ely in most countries, and their values to ])C determined liy weight. For greater convenience and facility in transacting business, as another step in progress, small pieces of metal, of a givmn weight, rccciv'cd a gov'crnmciit stamp or seal, and their values were computed by talc or count. This was a great advance, as it rendered unnecessary the very tedious process of weighing whenever it was desired to give or receive money in the transactions of business.

The art of coinage liad its origin not far from eight hundred years Ijcfore the Christian era, and the early products of the mint were exceedingly rude in their structure. The history of the progress of the art, and the improvement in the ligurc, beauty, and adajitedness of coins to their intended use, is a subject of great in¬ terest, I)ut too extensive to lie entered upon in a liricf paper like this.

It will Ijc sufficient lor our present luirposc to state that a coin is a mctalic substance, of a giv'cn weight and value, and bears

4

The Vermont Coinage.

upon it a device or seal placed there l>y order ol government, ami is designed to he a medium of cxcliange. All tliesc particulars are essential constituents of a coin, ^letalic pieces are often struck from dies, and resemble coins, Imt arc not so, simjdy 1)0- causc they arc 'wanting in one or more of the licforc-mcntioned ])articulars. Medals may liavc the necessary weight, value and devices, Init arc not coins, l)ecausc they arc not authorized as sucli by the government.

In this country, anterior to 1770, very tew coins were struck. The Colony of jMassachusetts Jlay issued, in ld52, silver coins, having “N.E.” stamped upon them: tlicsc Avcrc soon followed by the well known i)inc-trcc iiioney,” and this coinage was con¬ tinued for more than thirty years. Stci)s were taken l)y the colo¬ nies of Maryland, Virginia and North Carolina for the establish¬ ment of mints, but none of them appear to have advanced so far as to have coined money. The copper pieces in circulation were for the most part of European origin. The only exception, as far as 'we are informed, was the ‘KTranby Copper’’ manufactured b}- Samuel Higlcy at Granby, Connecticut, about the year 1737. These unauthorized mcdalcts were circulated as coins, were of pure copper from the Gran])y mines, and as they were struck from several dies, we may infer that the number issued was consid¬ erable.

Between the Declaration of American Independence in 1770, and the adoption of the Constitution of the United States in 1788, often denominated the period of the Confederation, several of the states established mints, or authorized the manufacture and issue of coins. Among these A^ermont took the lead, her lirst act, au¬ thorizing the issue of coins, bearing date of June 15, 1785. Con¬ necticut came next, her act being October 20, 1785. New Jei’sey followed June 1, 178C, and Massachusetts, October 17, 1780. These Averc the only states that issued coins during the })eriod of the Confederation, and none were struck except in cottier. Alas- sachusetts established a pi'oper mint, and the business was con¬ ducted by the authority and in behalf of the state. The other three states issued ])atents to private i)ersons on their ])etition, who, under heavy bonds and careful restrictions, manufactured the coins at their own risk, and so far forth as a ])rivatc enteri)risc.

iliere is abiindaiit evidence that tlicrc was a <>'i‘cat want of small

• ^

coins tliroiig’liout the whole country, and in A^erinont, so far re¬ moved from the great centres of ])usincss, it was doubtless as severely felt as at aiiy other point.

At the session of the (Icncral Assembly of \’crmont, held at Norwich in 1785, a petition was presented on the 10th of June, by Reu])cn Harmon, Jun., Es(p, i)raying tor leave ‘Ao coin a (juantity ot cop})er,” which was referred to a committee of three, to be joined by another from tlic Council, to take tlic siil)jcct into consideration and report to the House, d'hc committee a})pointcd consisted ot Isaac Tichenor of Rennington, John Strong of Ad¬ dison,, -and Samuel Williams of Jvntland, and these gentlemen were joined by Jra Allen as a committee from tlic Council.^

lids joint committee rc})ortcd a bill, Avhich passed through all its stages, and liccamc a law of the State on the 15th of the same month. AVc give the act entire as follows :

Whereas^ Ilculjcn Harmon, Junior, Esqr., of Kiqicrt, in the County of Renningtou, by his lAtition, has represented that ho has purchased a (piantity of copper, suitaljlcfor coining, and pray¬ ing this Legislature to grant him a right to coin Co[)pcr under such regulations as this Assembly shall seem meet, and this As¬ sembly being willing to encourage an undertaking that promises so much public utility, therefore

Be it enacted^ and it is lierelrji enacted^ hy the B epr e sent ai Ives of the Freemen of the State of Feiwiont^ in General A.ssemhly met, and hy the authority of the same :

That there Ije and hereljy is granted to the said Reuljen Har¬ mon, Junior, Esqr., the exclusiA^e right of coining copper A\dthin this State for the term of two years from the tirst day of July iu the present year of our Lord one thousand seven hundred and eighty-live : and all co))pers l)y him coined shall be in })ieces of one-third of an ounce Troy Aveight each, Avith such He vices and mottoes as sfiall bo agreed u|)on by tlie Committee appointed lor the purpose ])y this Assembly.

i Eor some account of the Hon. Isaac Ticiiunou see Hall's IT, ]). 471 ; of IIoii. John Stuono see IT IHstorkal (toMcer, \i)\. i, j). 7-1(1 ; ot SA31UKL Williams , LL. 1)., Yi. llistoiaau, see Mleiis .lac J}io(ir<q, Id¬ eal Bielionar/y Sanil. AVilliams, p. 804 ; of Geii. luA Allem, llaH's 11., }). 454, also 11. l£is. Gazetteer, vok i., p. 770.

G

• The Vermont Coinage .

And he it further enacted hy the authority aforesaid : *

That the said Eciibcn Hannon, Ijcfore he enters on the business of Coining, or take any benelit of this act, shall enter into a bond of live thousand pounds to the Treasurer of this State, with two or more good and sufficient sureties. Freeholders of this State, conditioned that all the copper, by him coined as aforesaid, shall Im of full weight as specified in this act, and that the same shall be made of good and genuine metal.

Passed June 15, 1785.

It will be observed that, l)y the conditions of this act, Hr. Har¬ mon could not enter upon the Inisincss of coining until he had l)Ound himself under a heavy penalty to faithfully observe all the ])rovisions of the foregoing act. This he did the next day l)y en¬ tering into Bonds to the Treasurer of the State for the faithful discharge of the duties of his oliicc of coiner. The nature of his obligations will best appear l)y reference to tlic l)ond itself, whicli we here present :

Know all men ])y these ])rcscnts, that we, Reulicn Harmon, Junior, Esip, and David Sheldon of I\u])crt, Al)raham Underhill, and Benjamin Baldwin of Dorset, all in the County of Bennington and State of Yermont, arc Held and firmly Bound in the lYnal Sum of Five Thousand Found L. M’y., to Ira Allen, ]^]s(i.. Treasurer of the State of Vermont, and his successor in said office, the s’d Harmon as Princi})lc and the s’d Underhill and Baldwin as sureties to which Faymcnt well and Truly to be done, we Bind ourselves our Heirs Executors and .Vdministrators linn by these Presents.

In Testimony whereof we have hereunto set our Hands and Seals this 16th day of Juno, 1785, in Presence of

The condition of this Bond is such that the above l>ound Beu- beii Harmon as Priucij)le, and the s’d Sheldon, Underliill and Baldwin as sureties, He Ilesponcilde to s’d Treasurer, that s’d 11 arnioii will, agreeable to an act entitled an Act Cranting to Reuben Harmon, diir., Es(jr., a Bight of Coining Cop[)er and Regulating the same,” that all tlic Co])per by s’d Harmon Coinetl

sliall be in fbeccs of one-tliird of an ounce troy wait each, and that the same shall be of good and genuine metal ;

The Vermont Coin/oye,

i

Provided^ s’d ITariuou slioiikl at any time Coin Co])])cr of Wait i\rcttlc or ]\[ottos Contrary to said Act tlicn tliis I>ond is forfeit.

J, «/

11 witness Avlicrcof we liavc hereunto set onr Respective IJands and Beals in presence of CiTTPMAN, \

John Btrono. j ( j

Rkurex Harmon, Jmir.,	* L S ^ L. h. I “s
Ml AVID Bueldon,
^ A iniA riAM Underiiii.l,	1 L. S.
CBenj. Baldwin.	1 L. S.

At the meeting of the Ceneral Asseinl)ly at Windsor, in tlic antninn of the same year, the weight of the coins, as determined by the preceding act, was diminished by the following modifying act, which we give entire :

Whereas^ an act was passed liy this Assembly, at their session in June last, granting to Reiiljcn Harmon, Esqr., Junior, of Hu- pert, in tlic County of llcnnington, tlic privilege of Coining Cop¬ per, for tlic time therein specified, in pieces of one-third of an ounce eacli, which is found to exceed in weight the Copper Coin used in the United States of America, Therefore,

Be it enacted, and it is herehy enacted hy the Representatives of the freemen of the State of Vermont in (general Assembly met, and hy the authority of the same ;

Tliat all coppers coined l)y the said Reuben Harmon, Esq., shall be of genuine copper, in pieces weighing not less than four penny¬ weights, fifteen grains each, and so much of the aforesaid act as regulates the weight of said coins is hereby repealed ; and tlie Treasurer is directed to deliver up the bond entered into by said Harmon in pursuance of said act, on his the said Harmon enter¬ ing into an other bond, with sureties in the same sum, conditioned for making said coin agreeable to the regulations in tliis act. Passed Oct. 2Tth, 1785.

By the first act the weight of the coin was fixed at onc-tliird of an ounce, equal to six pennyweights and sixteen grains, while by this act the weight was reduced to the minimum of four penny-

^For some account of the lion. Bayid Siieldoxt sec Yt. Ilis. Gazett¬ eer, p. 223 ; of Bexjamix’ Baldwin-, idem, p. 180 ; of Capt. Abraiia^i UxDEiniiLL, idem, p. 184 ; of the Hon. Hatiianiel Ciiir^iAN", IlalVs T t>, j). 4o8.

s

The Veryncnit C()hi(i(jL\

wciiilits and lirtcoii gfaiiis. The coins “ used in the United States of America,” rcterred to as being of less >vciglit tlis.ii that estab¬ lished by the act ol* dime, 1785, were siieli unauthorized pieces as were ill circulation by common consent; for it is to be observed that at this time neither of the States, nor the Congress of the United States, had issued any copper coins. Those in circulation were doulitless a variety of foreign and s})urious coins, of which there was apparently a great inllux at that period. The weight established, however, liy this act was less than that subscrpiciitly adopted liy the other states. The Coiinccticut coppers were re¬ quired by law to weigh six pennyweights ; those of New Jcrsc}’ six pennyweights and six grains ; while those of Massachusetts were to be of the weight estaldished for copper coin by the Com gross of the United States. As there was no unit of value estab¬ lished liy law to which the Ycrniont coins were to conform, it was only necessary that the weight should be uniform, and the metal genuine, two points carcfidl}' secured by the act of the General ^Vssembly.

After Mr. Harmon had obtained the exclusive right of coining cop})Cr in Yernioiit, had received from the committee the authori¬ zed devices, and had given lioiids for the faithful discharge of the trust imposed in him, he was at liberty to proceed in the manufac¬ ture wherever he chose within the limits of the state, to obtain his stock and to dispose of the proceeds to the best advantage he could. lie accordingly constructed a small factory, which by courtesy may be called a mint, in the northeastern part of Rupert, the town in which he resided, on a small stream called Mill Brook, a tril)utary of the Mettawee or PaAvlet river. The building is descriljed as ‘‘about sixteen liy eighteen feet, made of rougli ma¬ terials, simply clapljoarded, unplaned and unpainted.” AYithin this small area Avere tlie furnace, the rolling machine and also that for cutting and stamping the planchcts. Tlie impressions Averc made by means of a scroAV moved by hand, and it is said that sixty coins per minute Avere struck, altliough half that amount Avasnhe usual number. ^

^ Tills statement may l)e taken mm (jrano salts. In Barber's Connec¬ ticut Historical Collections.^ p. 531, Ave are informed that the apparatus for coining in the Connecticut mint Avas carried to such perfection that it

9

The ]^erinoitt Colnaijc.

The devices and mottoes were fixed by a committee ajipointed for tliat purpose hy tlie Assembly. It is interesting to observe that in Connecticut the devices were set fortli and defined liy statute. In New Jersey tlicy were left to the discretion of the Justices of the Supreme Court, and in Massachusetts to that of the Governor and Council.

The dovuces and mottoes, in full or abbreviated, of the coins authorized by the act we have already recited, are recorded on the coins themselves, and were as follows :

Obverse.

Device. — A sun rising, with mountains and trees in the fore¬ ground, and a plough in the field beneath.

Legend. — Vermontensium. Res. Publica.

In the Exergue. — Date.

Reverse.

Device. — A radiated eye, surrounded by thirteen stars.

Legend. — Quarta. Decima. Stella.

[See Plate I. Figures 1, 2, 3.]

The Latin legend on the obverse is, in English, “ the Republic of the Green Mountains that of the reverse is, the fourteenth star.” The legends are variously abbreviated, as will be seen by reference to the illustrations on Plate I.

In the construction of the dies, it is obvious that the mottoes and devices in their general features, as here laid down, must be scru¬ pulously observed to meet the requirements of the law. Unessen¬ tial matters relating to artistic finish are properly left to the fancy of the die-sinker, or directors of the mint. Hence it follows that

could turn out a hundred and twenty pieces per minute. This declara¬ tion, however, appears to rest merely on tradition. [ See New Haven Historical Society PcqoerSj vol. i., p. 181.] When machinery propelled hy hand-power can he made to excell in rapidity of movement that of steam, these traditions may he regarded with more favor. In the United States Mint, with machinery highly perfected and worked hy steam, “ the usual speed of striking is sixty pieces per minute for the dollar and half-dollar, sevent3'-five for the quarter-dollar, and ninety for the dime and half-dime.” [ See Manual of Gold and Silver Coins, hy Eckfeldt and Du Rois, p. 14.] Copper could not prohahly he struck with more rapidity than silver of the same size.

10

The Vermont Coinage.

wlicncver the dies become worn, or are broken, and new ones are introduced, there are more or less variations between the old and new dies. This accounts for tlic differences which we often ol)- serve in coins of the same date and the same general character.

There are two classes of variations wliich may be distinguished as types and varieties. The type is determined by the devices and mottoes required to be upon the coin by authority of tlic govern¬ ment, and while these arc retained the type is not changed. Sub¬ ordinate differences, not affecting the authorized devices, mere matters of taste in the structure or finish of the die, constitute varieties.

Under the first type of the Yermont coins, as set forth by au¬ thority, there are several varieties, indicating that there were not less than six or eight different dies employed. The varieties are distinguished by different abbreviations of the legend, by tlie struc¬ ture of the diverging rays, as single or bifurcated, and by other very minute variations.

The inscriptions are all in Latin, as also are those on the New Jersey and Connecticut coins, while those of Massacliusetts are inscribed in English. The Latin language was used in the in¬ scriptions on coins almost universally in Christian nations until within the last three-quarters of a century, since which the ver¬ nacular has for the most part taken its place. England, and per¬ haps one or two other countries, however, still retain the Latin.

We cannot fail to observe the appropriateness of the devices and mottoes on our Yermont coins. The committee that author¬ ized them did not interpret them, but their meaning is plainly ob¬ vious. AYe are reminded by the mountains,” on the obverse, of the range of green hills that bisects the state ; by the “forest trees,” of its then new and unsettled condition ; by the “ plough,” of its agricultural character, and of the source of its future wealth, and by the “ rising sun,” of the morning freshness and youthful promise of its opening career. The legend, Vermont- ensiiim res piihlica^ was significant of the political attitude to which the inhabitants of the New Hampshire Grants aspired, and a pledge of their resolution to obtain it.

The reverse is equally expressive, but more general in its char¬ acter. Tlie radiated eye surrounded by thirteen stars ” is in

The Vermont Comage.

11

obvious allusion to the thirteen united colonies that had just achieved their independence, and the legend Quarta decima STELLA,” the fourteenth star, was in the nature of a prophecy that Vermont would be triumphant in the struggle through which she was then passing, and would constitute the fourteenth star in the constellation of states. This prophecy was literally fulfilled when, six years after, in 1791, Vermont was admitted, and thus became the fourteenth state in the American Union. ^

Not far from a year after Mr. Harmon had entered upon the work of coining, he began to see the importance of having his license or patent extended, tlie reasons for which arc fully recited in the following petition, which we here give in full :

To the Honor alle Ceneral Assembly of the State of Vermont notv sitting at Untland :

The petition of Reuben Harmon, Jr., of Rupert, in the County of Bennington, humbly sheweth that the Legislature of this State did, at their session held at Norwich in June, 1785, grant him the sole right of coining copper within this State for the term of two years ; that he, your Petitioner, has been at a very great expense in erecting works and procuring a quantity of genuine copper for that purpose ; that said Term is nearly expired, and that your Petitioner, by reason of the shortness of said Term, will be un¬ able to indemnify himself for said expenses ; farther, your Peti¬ tioner conceives that in the present scarcity of a circulating medium, the coining of coppers within this State may be very advantageous to the public: Your Petitioner therefore prays this Honorable Assembly to grant him the privilege of coining copper for a farther term of ten years, on such other terms and under such regulations and restrictions as to your Honors, in your wisdom, sliall seem meet.

And as in duty bound shall ever pray.

Reuben Harmon, Junr.

Eutlatid, Oct. 23, 1786.

This petition was referred to a committee consisting of Nathan¬ iel Chipman of Tinmouth, John Bridgman of Wardsboroiigh and Silas Goodrich of Dorset, to join a Committee of the Council,

i When Ethan Allen returned to Bennington, in 1778, after a captivity of nearly three years, the old iron six-pounder was brought out by the rejoicing populace, and discharged fourteen times, “once for each of the thirteen United States, and once for young Vermont.” — Vt. Ilistorica Gazetteer, p. 150.

12

The Vermont Coinage.

and report to the Assembl}^ Gen. Ebenezer IValbridge ^ of J>en- nington was appointed by the Council. On tlie next day the com¬ mittee made the following report :

Rutland, Oct. 24, 1786.

To the General Assembly now sitting :

Your committee to whom was referred the consideration of the within Petition beg leave to report, as their opinion, that the sole privilege of coining copper be granted to the said Reuben Har¬ mon, Jr., for the term of eight years from the expiration of the former grant, under the following regulations, viz : that he give a new bond to the Treasurer, as is provided in the former grant ; that the first three years tlie said Reuben shall enjoy the said privilege free ; that for the remaining five years he shall pay two and one-half per cent, to the State on all the copper he shall coin, and give security for the payment ; that the device be in future a head on one side, with the motto AuctoriTxVTE Yer- MONTENSIUM,” abridged, on the reverse a woman representing the Genius of America, with the letters N D E-ET-L IB,” for ‘‘ Independence and Liberty.” All which is humbly submitted by

Eben^ Walbridge, for Committee.

In accordance with the report of the joint committee, the fol¬ lowing act was passed the same day :

IF/iereas, the legislature of this state did, at their session at Norwich, in June, 1785, grant to Reuben Harmon, Junior, Esq., of Rupert, in the County of Bennington, the exclusive right of coining copper within this state, for the term of two years from the first day of July in the aforesaid year of our Lord 1785 ; and whereas, the said Reuben has, by his petition, represented to tliis Assembly that he has been at great expense in erecting works and procuring a Quantity of Copper for the purpose of carrying on said business of coining, and that by reason of the shortness of said term, he will be unable to indemnify himself for his said ex¬ pense, and praying this Assembly to grant him said privilege of coining copper for a longer term, and this Assembly being willing to encourage an undertaking tliat promises a considerable public utility : Therefore,

Be it enacted by tlie General Assembly of the State of Vermont :

That there be and licreby is granted and conlirmcd to the said Reuben Harmon, Junior, Esq., the exclusive right of coining within tliis State for a further term of eight years from the lirst

^ For some account of Gen. p. 472.

E B r: N E z E R y A L r» R 1 D CJ E

see llalVs Fl,

13

The Vermont Coinage,

day of July in the year of our Lord 1787 ; and that all copper by him coined shall be in pieces weighing not less tlian four pen¬ nyweights, fifteen grains each ; and the device for all coppers by him hereafter coined sliall be, on the one side a head, with the motto “ Auctoritate Vermontenstum,” al)ridged ; on tlic reverse a woman, with the letters “ I N D E: ET: L 1 E,” for Inde¬ pendence and Liberty.”

And he it further enacted hg the authority aforesaid :

Tliat the said Reuben shall have o-iid enjoy the aforesaid privilege of coining copper within this State free from any duty to this State as a compensation therefor, for the full term of three years from the first day of July, in tlic year of our Lord 1787 ; and that from and after the expiration of the said three years, he, the said Rculjcn, shall pay, for the use of this State, two and one-half per cent, of all the copper he shall coin for and during the I'cmaindcr of the aforesaid term of eight years ; and the said Reuben, before he take any benefit of this act, shall enter into a bond of five thousand pounds to the Treasurer of this State, with two or more good and suflicient sureties, freclioldcrs of this State, conditioned that all the copper by him coined as aforesaid, shall be of full weight as specified in this act and of genuine metal, and that from and after the expiration of the aforesaid three years, he will well and truly render an account of the sums by him coined, by virtue of this grant, and pay over all such sums as shall, on account of said coinage, become due to this State, at such times and in such man¬ ner as this or a future assembly sliall direct.

Passed October 24, 1786.

AgreealJy to the requisitions of the above act, Mr. Harmon entered into the following bond :

Know all men by these presents, that we Reuben Harmon of Rupert, in the County of Bennington and State of Yermont, as lirincipal, and Nathaniel Chipman of Tinmouth, and Lemuel Chip- man of Pawlet, both of the County of Rutland, and State afore¬ said, Esquires, as sureties, are held and firmly bound unto Samuel Mattox, Esquire, Treasurer of said State of Vermont, and his successors in said office, in the full sum of Five Thousand pounds lawful money, to be paid to the said Samuel, or his successors in said office of Treasurer. For the true payment whereof we bind ourselves, Heirs and assigns Firmly by these Presents. In wit¬ ness whereof we have hereunto set our hands and seals, 23d day of February, A. I). 1787.

The conditions of the above obligation is such that whereas the above bounden Reulien did on tlie 24th of October, 1786, obtain License from the General Assembly of the State of Vermont to coin copper under certain regulations ami restrictions, which are

14

The Vermont Coinage.

particularly set forth in a certain Act granting license to the said Kenhen as aforesaid, on the above 24th of October, Now if the said Reuben shall strictly and punctually attend to all the rules, regulations, directions and restrictions or limitations which are set forth or injoined in said Act, then this obligation to be void, other¬ wise to remain in full force and virtue.

Signed, sealed and delivered in presence of John A. Graham, \ '

David Russell, \

Reuben Harmon,

L. S.

Nath’l Chipman, Lem. Chipman.

(

L.

L.

S.

S.

I

s

This was the last act of the General Assembly relating to tlie coinage of Yermont. It will be observed that it extended the term of Mr. Harmon’s exclusive right, making it ten years from the beginning, that he was to pay into its treasury, for the use of the State, two and a half per centum of all the copper he should coin during the last five years of this period, and that a new tjqie was introduced by a change of the mottoes and devices. The coins issued by Mr. Harmon in pursuance of this act, “arc at this time far more numerous than those of the first type, ^ and conform to the following description :

Obverse.

Device — A bust in a coat of mail ; head usually laurcated. Legend. — \ ermon. Auctori.

Reverse.

Device. — A female figure, representing the genius of America, seated with a shield at her side, holding an olive liranch in lier right hand and a rod in her left. Legend. — Inde et Lib.

In the Exergue. — Date.

i The scarceness of the Yermont coins may l)c very well (letermined ])y the prices which they brought at the Miekley sale in Xew York in 1807. The pieces were mostly in the finest condition.

Vermontensimn lies Puhlica . |3.00 to SI.OO

Vermonts lies ruhlica . 1.50 5.00

VermonUs lies ruhlica . 0.00

Vermon. Auctori . 02 “ 2.25

15

The Vermont Coinage.

[See Plate I and II, Figures 4, 5, G, 7, 8.]

The abbreviated Latin legend on the obverse is in English ‘‘ by the authority of Yermont ; ” and tliat on the reverse is ‘‘ Inde])en- denec and Liberty.”

In the examination of a large number of this type, avc find many of them varying from each other, indicating that numerous dies were employed, or possibly, in some cases, that old ones were “ touched up” by the graver of the die-sinker.

As is usual, where governments change the type of their coins, no reasons arc recorded for the alteration of the mottoes and de¬ vices. Several reasons, however, naturally suggest themselves for the change. The symbols and inscriptions of the first coinage were peculiar to Yermont. They had already acconij)lished their purpose. The announcement that Y ermont was to be the fourteenth state in union with the old thirteen, and that it was already an independent republic, was proclaimed far and wide on thousands of these little coins. No repetition could render these declara¬ tions more emphatic. The head ” upon the obverse, introduced by this last act of the General Assembly, was not only sanctioned by ancient usage, and by almost universal custom, but it imparted a dignity to the appearance of the coin, and was moreover wrought into all the early associations of the people. The influence of usage is always powerful. When the regular United States coin¬ age was begun in 1793, the “head,” without any well defined reason except that of custom, was introduced upon our American coins, and retained its place on most of them for fifty years, and on some of them down to the present time.

But, beyond the reasons here suggested, it is to be added that the mottoes and devices were identical with those established the year previous by the- General Assembly of Connecticut, with the single exception of that part of the legend which determines the state in which the coins were struck and by whose authority they were issued. This was the natural result of the intimate re¬ lations that existed between the people of these two states. The bulk of the freemen of Yermont, at that period, were natives of Connecticut. They modelled all their civil institutions very closely after those of the state from which they came. As it was

IG

The l^ermont Coinage.

natural, so it appears to liave been deemed appropriate, that the coinage of the new state sliould be identical, as nearly as possible, with that of the old. The change of a single word renders tlic legal description of the coins of the two states entirely similar. It has, moreoYcr, been asserted, and a careful comparison seems to confirm the statement, that the dies from whicli the Connecticut and Vermont coins were struck were executed by tlic same per¬ son. This is indeed conjectural, but whether correct or not, the similarity of some of the devices, not only in outline but in finisli and in minor particulars, is very remarkable.

One of the issues of 1T8G, which we illustrate, [Sec Id. ii. Fig. 4.,] has Auctori on the left of the bust, and Vermon on the right. There is said to be one of a similar description of the issue of 1787, but this we liavc not seen. All the others of the second type, which have come to our notice, have Auctori on the right, and Vermon on the left. Some of the heads face to the right and others to the Icftj and the features vary in the different dies employed. All the variations fall within the limits allowed to tlie engraver.

The reverse of the last type is, as we have intimated, identical with tlie reverse of the Connecticut coins. The seated female is an emblem similar to that found upon Roman coins at a A'Cry early l)eriod. It appears upon a coin of Hadrian, struck in honor of his arrival in Britain, A. D. 121. From that it appears to have been transferred to the Farthing of Charles II., and may be seen on the copper coins of England at the present day, and is com¬ monly designated Britannia. In the coinage of the United States a similar figure was introduced in 183G on the i)attcrn dol¬ lar, and is now found on all our silver coins, from the dollar down to tlic half dime, and with us is the symbol of Liberty. Tlicrc was a great propriety in the adoption of tliis device liy the Gen¬ eral Assembly of Connecticut, and a year later by the General Assembly of Vermont, especially in its association with the ab¬ breviated Latin legend Inde. et Lib., for Independence and Lib¬ erty. Its significance was very distinctly set forth by the committee in their recommendation to the A^erinont House of Assembly that the device on the reverse should be a woman rep¬ resenting the genius of America.” For this embodiment of what

The Vermont Coinage.

17

was deemed the s})irit of the Aiiiericaii people, we liave on the eoiii a female ligure, in tlie attitude of repose, liaving the olive braneh, symbolizing peace., in her extended right hand, while she holds a rod lirmly in her left, intended, doubtless, to represent the power by which American independence had Ijecn obtained, and by which her liberty was to ])C protected. Thus the mottoes and the device were liarmonious, and plainly inculcated and en¬ forced the same sentiment.

The artists who executed the die-sinking were obviously ama¬ teurs, with little experience, and no extraoi'dinary ingenuity or skill. The heads are presented in profile, and offer but an indif¬ ferent map of the human features. The same want of skill is observable for the most part in the coins of the other states, but they are perhaps as well executed as could be reasonably antici¬ pated, when we remember that the arts in this country had, at that period, received little attention.

The whole pecuniary business of the coinage was in the hands of Mr. Harmon. He conducted it on such a scale as suited his interests, and employed such workmen as he chose, but he alone and his bondsmen were responsible to the State. It is said that the workmen were sharers in the profits under some sort of part¬ nership, but of this very little is definitely known. The names of the persons mentioned in connection with the manufacture of Vermont coins are Col. William Cooley of Rupert, Elias Jackson of Litchfield, Ct., Daniel Van Voorhis of the city of New York, and Mr. William Duel ^ of New Haven, Ct.

1 Mr. Buel’s connection with the Yermont coinage appears to he rather indistinctly known. In the Vermont Quarterly Qazetteer,Yo\. i, p. 228, it isasserted that “ he associated himself with Harmon in the business of coining,’’ and that “ he brought with him the original dies used by his father at New Haven.” This is probably one of those traditions that does not lose anything by passing down through three generations and by being oft repeated for three score years and ten. His connection could not have been more than that of an employe, as he was not to share in the profits after Mr. Harmon entered into business arrangements with Capt. Thomas Machin and others. That he “ brought with him the orig¬ inal dies” seems very improbable, since coining appears still to have been going forward at the Connecticut works in 1789, See New Haven His¬ torical Society Fapers, vol. i, p. 179.

3

18

The Vermont Coinage.

The amount of coppers coined and put into circulation by JMr. Harmon is wholly unknown. It was doubtless no more than he could dispose of in very limited quantities in a comparatively small and scattered population. As he was a trader, or “ country merchant,” he doubtless had unusual facilities in this direction. But under the most favorable circumstances we cannot suppose that the undertaking was largely remunerative to liim ; and tlie revenues of the state were not enlarged by the enterprise, as the business was wholly closed up before the two and a half per centum became due, which was required by statute to be paid on the coinage of the last five years of the extended term. During the year 1T88 the operations of the mint came to a close. The official notice of the ratification of the Constitution of the United States was communi¬ cated to Congress in July of that year. By this instrument the privilege of coining money was no longer permitted to each of the states, but vested solely in the General Government. Althougli Vermont was not admitted to tlie Union till the 4th of March, 1791, she recognized herself as one of the United States, and gracefully yielded to this constitutional disqualification, as did the other states engaged at that time in coining money.

Mr. Harmon fulfilled his obligations under his patent to the satisfaction, and we think deservedly so, of all concerned. We have examined many of his coins, and they appear to be of gen¬ uine copper. Twelve of them, of no more than an average size, were recently weighed at our suggestion, and were found, after eighty-five years’ abrasion, to exceed, by over five grains each, the weight required by law. The devices and mottoes, as laid down by the authority of the General Assembly, were strictly ob¬ served, and appear fully on all the Vermont coins.

It has been erroneously stated that half cents ^ were issued. No halves were authorized or issued. We may here remark that the Vermont coin, not being the hundredth of an established unit, is never denominated a cent in the proceedings of the General Assembly, and, whenever tliis term is used, it is, of course, a mis¬ nomer.

i See Uistorical Account of American Coinage ])y John II. IIickcox • also jfeio American Encyclopoedia.

19

The Vermont Coinage,

The illustrations which we give in the accompanying Plates ex¬ hibit the two types authorized ])y the General Assembly, with sev¬ eral varieties under each. They present a fuller representation tlian has before appeared, and several of the varieties are now for the first time engraved. ^

Our notice of the Vermont Coinage would terminate liere, Avere it not that there liave been made, within tlie last foAv years, certain unfounded insinuations and grave yiistatements in connection witli this coinage, implicating the loyalty and honor of the State of Vermont. These statements have arisen in some instances from a want of a Ml knowledge of the subject, and in others from an overweening readiness to catch at straws, if need be, in support of an unstable theory. It is marvellous Avith Avhat facility the ‘‘surmise” of one writer becomes the “ impression” of the next, and “ the distinct opinion” of the third, and so on, creseens eundo,, until it comes to be announced, Avithout any foundation Avhatever, as the genuine fact of history. The statements to Avhich avo refer are all of recent date ; none of them having been made Avhen the coins are alleged to have been put in circulation, nor indeed until nearly three-quarters of a century afteinvards. We propose to al¬ lude to a foAV of them and to shoAv on what flimsy foundations they rest. In 1858 a volume Avas published at Albany, entitled “ An Historical Account of xVmerican Coinage, by John H. Hickcox,” in Avhich Ave find the folloAving extraordinary statement :

“At the time the British in Canada AA^ere carrying on negotiations Avith the leading men in Vermont, for the purpose of making Ver¬ mont a crown dependency, coppers Avere issued having on the obverse.

First :

A bust of George III; Legend, Vermon. Auctori. ReA^erse, the figure of Britannia.

nW are indebted to Mr. S. S. Crosby, of Boston, fora part of the wood-cuts from Avliich the electrotype plates Avere made. The remainder were engraved especially for this Avork.

20

The Vermont Coinage. Second :

Obverse. A bust of George III ; Legend, Georgiuvs 111, YTS. Reverse, a figure of Britannia ; Legend, not intelligible.

They were usually struck over British half pennies.”

Such confusion of ideas, ignorance of history, and mistatement of facts, are rarely, as here, compressed into so few words. Let us look at these statements a little in detail. By tlic “ negotia¬ tions with the leading men ” the writer undoubtedly refers to the successful manoeuvres carried on under the direction of tlic Gov¬ ernor of Vermont and his Council during the Revolutionary AVar, to cause delay and thus save the frontiers of A^ermont from in¬ vasion by the British army. These are the only negotiations known to history to which tlic Avriter could have referred. It happens somewhat aAvkwardly for the author of the above state¬ ment that these negotiations” took place in 1781-1782, Avhile no coppers having the representation of a man’s head upon them, or the legend Yermon. Aiictori, were struck in A'ermont until late in the year 1786. The insinuation therefore that coppers Avcrc issued at the time of the alleged negotiations, and in furtherance of the same, is, so far as the State of A^ermont is concerned, utterly base¬ less and absurd. There is not indeed a particle of evidence that these ‘‘coppers” were in existence at the time of the alleged ne¬ gotiations.

But Ave arc told Avithout any qualification that the coppers have upon them the bust of George III. Here again the au¬ thor draAVS solely upon his imagination. In regard to the coin first described by him, there is no inscription, not a Avord or an emblem upon the coppers, to indicate that the bust is intended for that of George III. There is not a particle of evidence that such is the case. This bold assertion rests merely upon the author’s guess. AATiters upon Numismatics do not usually plunge into the field of pure imagination, and thrust their unqualified fancies into the place of facts. The coppers in ques¬ tion have long been familiar to us, and several of them arc before us at this Avriting. The head resembles that on one of the varie¬ ties of the Connecticut coppers, as also that on one of the A^cr- mont coins, l)ut docs not resemble any head of George III., as

The Vermont Coinage.

21

represented on English coins, which we have ever seen. But even if it did, it does not follow that it was intended for tlie likeness * of George III. Resemblance is one tiling, and an intended rep¬ resentation is quite another. The nose on the effigy is prominent, giving the face an oval form ; and perhaps this was a distinguish¬ ing feature in the bust of George III., but, unfortunately for Mr. Ilickcox’s fanciful theory, the old King did not monopolize all large noses and oval faces. There were probably more than half a million of people living in this country at that time, whose features this unlucky effigy resembled more than those of George III. But Avhile this suggestive copper did not come from the Vermont mint, as wo think we shall satisfactorily show in the sequel, nevertheless, had the authorities of Vermont anticipated how a prominent fea¬ ture on their coins might in the future cast a cloud over their loy¬ alty and tarnish their good name, they would undoubtedly have given strict orders to their die-sinkers to enter upon no dangerous experiment, but to design only pug noses and square faces.

But it remains to examine the second copper described by Mr. Plickcox, in the passage which we have quoted. This he also asserts was issued “ at the time the British in Canada were carry¬ ing on negotiations with the leading men in Vermont for the pur- puse of making Vermont a crown dependency.”

This copper is found in most collections, and bears upon it a very poorly conceived and badly executed caricature of the head of George III., as exhibited on the English half-pennies of as late a date as the beginning of the present century. In all we have seen, the letters of the legend arc imperfect, only the lower parts of them arc clear and distinct. As this imperfectness is similar in all the numerous specimens which we have examined, we pre¬ sume it arises not from abrasion, but from the structure of the die.

Several varieties^ of them are noted by numismatists, but there

i Various readings of the legend are reported : Georgiuvs. Gloriovs. Georievs. Mr. Sandham gives the following description and note : “Ohv. Very large and coarse ; bust to right. Geortcvs iii vis. Eev. Coarsely executed figure of female seated to left and holding in her hand a leaf similar to (and probably intended as) a shamrock. Britt. round left side of coin ; edge plain.”

‘‘There are two or three varieties remarkable for nothing but their

22

The Vermont Coinage.

is no evidence that any of them were issued at the time stated by Mr. Hickcox, or that they had any connection whatever with tlic State of Vermont. They have no date upon tliem to indicate the period of their issue. They are apparently caricatures of George III. as lie is represented on coins of a date later than 1800, and, moreover, the opinion has been expressed, in which we think all experts will agree, that they were not struck more than lifty or sixty years* ago. Mr. Hickcox represents part of the legend to be VTS. What this signihes we arc utterly at a loss to say. Any school boy knows that these letters are not an abbreviation for Vermont, and have never been so employed. In fact we do not think the coppers described by Mr. Hickcox have VTS upon tliem at all. We have seen many of them in various collections, and we have heard of others bearing the same description, and in all cases they have not VTS, but VIS. While it is true, as we have already intimated, that tlie upper part of the letters appear to be cut off, nevertheless the space between the V and S is not sufficient to receive the horizontal part of a T, and consequently what ap¬ pears to be an I cannot have been a T defaced bv abrasion. In- deed the letters do not appear to be worn, but to be defective from the original imperfection of the die. It is to be observed that the letters VIS occupy the same place on the copper as the Rex does on the English half-penny, and the Latin u/s, (as meaning brutal force or power) as a substitute for Rex, has at least a faint significance in a caricature. Mr. Alfred Sandham, in his work en¬ titled “ Coins, Tokens and Medals of the Hominion of Canada,” published in Montreal in 1869, though doubtful of its origin, describes this copper among the tokens of the Dominion, and it appears to bo the prevailing opinion among iiumismatists that it is of Canadian oridn.

O

But if there were no other o1)jections to Mr. Ilickcox’s theory, tlic character of the ‘‘copper” itself is fatal to it. This theory, if it has any meaning wliatever, supposes that this copper was struck in compliment to tlie king, and to draw the citizens of Ver-

coarsc workmanship and the very poor condition in which they are ('-eii- erally found.” Sec Cbias, Tokens and Medals of the Voininion of Canada hy Alfred Sandham^ p. 40.

2;3

The [^ermont Coinage.

inoiit into a love and reverence for his person and government. It should therefore have represented him in the most engaging and attractive light possible. Ihit if the hideous features por¬ trayed on this copper were those of tlic King of England, it is plain that their dissemination among the yeomanry of A^ermont would have deepened and intensified their hatred, already strong both to him and to his government. Nor could the cflect liave been any more felicitous upon the British in Canada.” How¬ ever brilliant their anticipations of “making Yermont a crown dependency ” may have been been before, the issue of this derisive copper, by the authorities of Yermont, as the theory supposes, must have extinguished all hope, as they could not but sec that their king, their government, and themselves, were objects of ridi¬ cule, scorn and contempt. Under these circumstances the ap¬ pearance of this copper, from the source and at the time alleged, could not have been conciliating, it could not have gathered up and united the broken cords of loyalty, but on the contrary it must have been an apple of discord, at once fatal to their whole scheme. AVe conclude therefore that it was not issued in furtherance of the object suggested.

AVe have thus shown that there is not tlic faintest ray of evi¬ dence that cither of the two coppers, mentioned by Mr. Hickcox, was issued at the time alleged by him, or that they had the re¬ motest relation to the political affairs of the State of Yermont. But the insinuation of Mr. Hickcox is very distinctly improved upon by Mr. AV. C. Prime, three years later, in his work entitled “ Coins, Medals and Seals,” published in New York in 1861.

He says : “ The mint of A^ermont seems to have been very ac¬ tive, and great quantities of coin were issued from it. Among others we have found coins with the head and name of Kinn

O

George, and the reverse Inde. et Lib.”

The assumption that these coins, with the “ head and name of King George,” came from the Yermont mint is wholly inadmissi¬ ble. They might be assigned to Connecticut for the same reason that he assigns them to Yermont. All the Connecticut coins had, upon the reverse, Inde. et Lib. AAdiy does he not assume that they therefore came from the Connecticut mint? or from the royal

24 The Vermont Coinage.

mint of England, tlic image of wliosc king, lie informs us, is upon tlie coin ?

But, in truth, there is no probability that they came from cither of these sources. When we find coins with devices and legends in part of one country and in part of another, we do not infer, and we have no right to infer, that they came from any regular, legalized mint, but, on the contrary, that they came from some private or unauthorized source. If, for illustration, a coin should appear with a United States legend and device on one side, and a French legend and device on tlie other, what could be more unnatiu’al and absurd than to infer that the coin was struck either at the French or United States mint ? In like manner there is not the slightest reason for believing that the copper referred to by Mr. Prime came from any legally established mint, from that of Yermont or Connecticut, or indeed from the royal mint of Eng¬ land. Its irregularity is ]orima facie evidence against it, and to establish any such origin for it, it is necessary to adduce proofs not found upon the coin itself.

Ur. M. W. Dickeson, whose Numismatic Manual was published a little earlier than Mr. Prime’s work, appears to have transferred Mr. Hickcox’s insinuation to his pages without assuming any per¬ sonal responsibility for its correctness. Having described a cop¬ per with George III on the obverse and Brittannia on the reverse, an inscription and device purely English, and having no possible reference to Vermont, he adds: “ it is said to have been issued at the time when the leading men of Yermont were tampered with by partizans of the British Crown.” As this is a reiteration of the old story, which we have already refuted, and docs not pro¬ fess to rest upon any authority whatever, we pass on to another statement in Avhich Mr. Ilickcox’s fancy seems to have ripened into its legitimate fruit.

In a paper read before the New England Historic Genealogical Society, on the 6th of May, 1868, by the Rev. Benjamin F. He Costa, A. M,., of New York, in speaking of Yermont, he says.

The \l‘rmont Coinaejc. 25

the authorities actually had a coin struck bearing the iinnge of George

In explicitness and fullness this declaration is only surpassed by its utter want of foundation in truth. Mr. De Costa needed just such a derogatory proceeding as this would have been on the l)art of Yermont to help out a favorite theory, and as it was to Ijc had by rounding out the insinuations and loose statements of the writers to whom we have referred, he appears unwittingly to have fallen into the tempting snare. Had he taken proper pains to look for the evidence on which the charge he was making must rest, we presume it would never have been made. "Ye have set forth in the earlier pages of this paper all of the proceedings of the “ authorities” in the State of Yermont on the subject of coin¬ age. And they did not order any coins to be struck bearing the image of George III.” On the contrary they laid down very spe¬ cifically the devices and mottoes to be used on their coins, alto¬ gether American in their character, and bound the citizen, to whom they gave the exclusive right of coining in the State, under heavy bonds, with gentlemen as sureties of the highest standing and character, to strike the coins with the devices and mottoes established by law, and with no others. And in case lie did not

strictly and punctually attend to all the rules, regulations, direc¬ tions and restrictions or limitations ” set forth or enjoined, the obligation of the bond was to rest upon him and his sureties in all its force and virtue. It is, therefore, clear to a demonstration that whatever coins came from the Yermont mint, the authorities were responsible only for those that bore their legalized mottoes and devices. Even if the coiner had issued others, the authorities had used the full power of legislation (the only power they pos¬ sessed) to prevent it. This was the utmost that could be done, and relieved them of all responsibility.

But the assertion has, we understand, been made, though we have not seen it in print, that the image on some of the Yermont coins is that of George III., while the mottoes and devices are

^ See New England llistorico.l and Genealogical Eegister, Yol. xxii, p. 3G9.

4

20

The Vermont Coinage,

those estahlisliccl by the legal authorities of the state. ^ 'We have already alluded to this absurd pretension. The prominence of a single feature on one of the varieties, (almost identical Avitli that on one of the Connecticut coins), but bearing no other resemblance to the image on the coins of George III., is tlic sole foundation for this purely fanciful and utterly untenable theory. It reminds us of the castles in the clouds,” or the “men and women in the red-hot cinders,” which some imaginations so readily sec. AVe need not give any serious attention to fancies so utterly baseless and idle.

We may here remark, that after the most careful investigation of the whole subject we arc satisfied that the irregular or “ hybrid ” coppers, to which allusion has been made, did not come from the Vermont mint. We find no evidence pointing in that direction. There is not even a tradition lingering in tlie neighborhood that such was the case. Mr. Harmon, the coiner, had no motive for such a procedure. lie had the exclusive right of coining in Ver¬ mont, and during the whole period of his actual coining he had no revenue to pay to the State, as was the case in Connecticut, while the legal weight of his coins was less than that of other States, and he had no limitation whatever as to the quantity he might issue. He had a positive advantage over all competitors. Mr. Harmon was, moreover, under very heavy bonds, and the issue of a single irregular coin in Vermont would have imperiled

^ It would appear from a statement in the jimerican Vumismatic Manual, by M. W. Dickeson, M. B., page 106, that a similar charge is made touching the Connecticut coins. lYe make the followimr extract not for its logic, but as a specimen of the loose talk which has prevailed on this subject to a considerable extent :

“It is believed and expressed by some, that the bust upon these coins was originally intended to represent George III. As we would not question the patriotism of those interested in this coinage, we must con¬ clude that the art of design was at so low a standard at that time, as to compel the copying of some ])ust of their late sovereign, which was probably the case, as we have heard of a type of these coins absolutely bearing the name of George HI. We must suppose, however, for the honor of the State of Connecticut and its enterprising merchant coiners that the aitist of this t^pe had not heard of the recognition of our national independence.”

The Vermont Coinage.

2T

his fortune, to say nothing of its damaging effect upon his stand¬ ing and character in the community in which he lived. His bondsmen were men of tlie liighest respectalhlity, l)Otli of tliem members of tlie legal ])rofession ; one of them was an eminent jurist and statesmen of his day, appointed l)y Washington a Judge of the District Court of Vermont; and afterwards Avas Chief Justice of the Supreme Court of his State, and a Senator in the Congress of the United States. These were not men to Avink at any irregularities, certainly such as might cast suspicion upon their integrity, or endanger their fortunes. But Mr. Harmon, as Ave shall shoAV in the sequel, Avas connected Avith a coining estab¬ lishment outside of his State, Avhere ‘^coppers” not legalized, l)ut of all descriptions, might be freely issued Avithout endanger¬ ing his OAAm, or the fortunes of others. Had his interests inclined him to issue unauthorized “ coppers,” he had no occasion to peril Ids OAAUi, or the interest of others, by striking them at his mint in A^ermont.

But the assumption that these anomalous coppers ” Avere is¬ sued by him for political reasons favoring the British crown is founded in extraordinary and unpardonable ignorance of history. There Avas no people anyAvhere more devoted to the interests of the Colonies struggling to be free from the British rule than the inhabitants of T'ermont. This Avas true both of the private citi¬ zen and of the leading men. The property of “ torics ” Avas sum¬ marily confiscated, and they Avere treated sometimes with apparent harshness, and ahvays with opprobium and contempt. But the period for seeking the favor of the English, if it had ever been desired, had passed long before the establishment of Air. Har¬ mon’s mint. No coppers Avere issued from it, having a man’s head upon them, until about three years after the treaty of peace. And after that treaty Vermont Avas a part of the territory of the United States absolutely and by universal consent, .as much as Avas Alassachusetts, or Virginia, or any other State. It Avould have been a singular proceeding for the British in Canada,” to be ‘tampering” Avith the ‘Heading men in Vermont” to make that State a “ croAvn dependency ” in violation of their late treaty of peace, acknoAvledging the independence of the United States ; a treaty solemnly entered into, and Avhich the history of nearly a

28

The Vermont Coinage.

century proves they intended to respect. TJiis theory involves the re-opening of the whole question of American independence. But this whole charge is so utterly absurd, and so wholly at va¬ riance with all the facts of lii story, tliat wc need not jmrsue it further.

The ori gin of tlie anomalous coppers in question is a subject of some interest to numismatists. It is, however, involved in mvs- tery, and will i)robably never be wholl}^ freed from doubt. That they came from any legally cstablislicd mint wc find no evidence. There arc certain circumstances, liowcvcr, tliat point to Ulster County, N. Y., as the probable place of their coinage. In the history of Schoharie County, N. Y., Iiy Jc})tlia B.. Simms, printed in 1845, wc arc informed that a company was established in April, 1787, for the avowed purpose of coining copper, pro¬ vided Congress, or any of the State Legislatures, enacted a law allowing individuals to coin money.

The Company consisted of Capt. Thomas ^Yachin, of New Grange, Ulster County, New York, and of Samuel Alice, James F. Alice, David Brooks, James Grier and James Giles, all of tlic City of New York. In June, following, they received into their partnerslii]) Reuben Harmon, Esquire, William Cooley, of Bennington County, Yermont, Elias Jackson, of Litchfield County, Connecticut, and Daniel Yan Yoorhis, of the City of New York, who were part- ners in the business of coining at Rupert. Works were erected at the mills of Capt. Machin, near the Great Rond in the Countv

_ V

of Ulster. The profits accruing from the manufacture of coppers at these works, and at those in Rupert and elsewhere, if other works should be established, were to bo divided cipially among the ten partners. If any of them obtained an act from Congress, or any of the States, to coin money, the profits so arising were to be divided equally among them all. The company was to con¬ tinue eight years from the first day of July, 1787, tlie termination of Mr. Harmon’s right to coin in Yermont. Tlie contract appears to have been carefully drawn, the duties of each partner were dis¬ tinctly assigned, and they entered into bonds in the penal sum of a thousand pounds for tlie fiiithful i)erformancc of their contract. Mr. Simms infers from ^Ir. Macliin’s pajicrs that tliey did not ac-

The Vermont Coinage.

29

coinplisli much before 1789, when tliey maniifactured, perhaps, a thousand j^ounds of copper. About tliis time tlieir enterprise probably terminated, as in a letter of one of tlieir number to ]\rr. jMaehin, in October, 1790, the wish was cxiircssed tliat they might ‘‘ arrive at a settlement on cipiitablc terms, and comjiromisc their matters without a tedious and expensive lawsuit.”

Such is the establishment as described liy INfr. Simms in his work })nblished twenty-five years ago. AVc do not assume alisolutely that the anomalous copiicrs came from it ; Imt do not iiesitatc to state that there is not merely a possiliility, Imt a very strong prolj- ability that such was the case. It is to be observed that tlic man¬ ufacture commenced at ^Fachin’s IMills about the time or a little after the coinage of the several States came to a close. Sucli of the old dies, as might in any way be made useful, could doulttlcss 1)0 very easily obtained. This was especially true of those in the Vermont mint, as several of the persons interested in it were also partners in the New York Company. But all the coppers issued by this Ulster County establishment were coined without authority of law. The Company had no patent or right, granted l)y any government wdiatcver, for the coining of money. Their establish¬ ment was a sort of Gretna Green, at which certain things, unlaw¬ ful in other places, could be safely and eftectually done. They undoubtedly issued such pieces as in the judgment of the Com¬ pany Avould most easily find a remunerative market. They Avere, of course, limited to no legends, dcAuces or dates. As all things Avere laAvful, they did Avhatevcr Avas expedient. We can Avcll suppose that, in the great scarcity of small coins at that period, the United States and British Provinces together furnished an ample market. In this market, or some other, they appear to have distributed tlie proceeds of a thousand pounds of copper or thereabouts. The pieces thus issued undouljtedly bore some kind of mottoes, devices, and dates. The thousand pounds of copper would yield, at a low estimate, more than fifty thousand pieces of tiie average Aveight of the Connecticut and Vermont coins. Many of them, Ave think it fair to infer, are now to be found in the form of counterfeits or otherAvise, in the cabinets of coin-collectors. ^Vithout doulit tlic anomalous coppers, Avhich could not Avith

30

The Vermont Coinage.

safety be struck at any lawfully established mint, and unreasona¬ bly, as we have shown, attributed to that of Vermont, were far more likely to be manufactured here than anywhere else : and tliat this was their origin, we j)resumc will be the opinion of the carclul numismatist and judicious reader of history, until some direct and satisfactory evidence to the contrary is adduced.

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