65/111 There was already an opposition to hearing any petition with regard to slaves, but Gallatin insisted on the memorial taking the usual course of reference to a committee. He directed the House also in the correct path in its legislation as to foreign coins. It was proposed to take from them the quality of legal tender; but he showed that it was policy not to discriminate against such coins until the mint could supply a sufficiency for the use of the country. In this argument he estimated the entire amount of specie in the United States at eight millions of dollars. At this early period in his political career he was acquiring that precise knowledge of the facts of American finance which later served to establish the principles upon which it is based. |