"The silver which is most frequently brought into the United States, in the common course of commercial business, is the Spanish dollar. But individuals have no inducement of interest to send this coin to the mint. Within the U.States, it has an equal value with the American dollar, and in many foreign countries a much higher value...It is...true, that in Canton, and many parts of the East
Indies, the Spanish dollar is valued much higher than that of the United States, or than any other coin in proportion to the quantity of pure silver which it contains. In many parts of the East Indies,
indeed no other coin is current." January 26, 1819, House Committee records.
"The silver which is most frequently brought into the United States, in the common course of commercial business, is the Spanish dollar. But individuals have no inducement of interest to send this coin to the mint. Within the U.States, it has an equal value with the American dollar, and in many foreign countries a much higher value...It is...true, that in Canton, and many parts of the East
Indies, the Spanish dollar is valued much higher than that of the United States, or than any other coin in proportion to the quantity of pure silver which it contains. In many parts of the East Indies,
indeed no other coin is current." January 26, 1819, House Committee records.
A great quote. Thanks for finding that!