St. Louis as seen by a traveling Californian in 1859
by Jim Laughlin, LSCC #876

The following is a firsthand account of what was seen incirculation in St. Louis, Missouri during 1859 (population135,330). It is written by a Californian for an audience backhome in California.

May 16, 1859, Sacramento Daily Union

The panic of 1837 and the subsequent bankruptcy of the Statesof Mississippi, Louisiana, Florida, Arkansas, Michigan, Indiana,Illinois, Maryland, and Pennsylvania (all by 1841), influencedthe delegates framing the California Constitution in 1850. Manyeastern residents were financially ruined by holding paper moneyissued by States, transportation companies, and private banksthat had become worthless following the panic. Therefore, theCalifornia delegates included a provision in the CaliforniaConstitution prohibiting the issuance of paper money inCalifornia. This explains the interest the reporter has withpeople using paper money so freely in St. Louis.

The Act of Feb 10, 1857 called in foreign silver to bereplaced with the new small sized cents on the East Coast. Herein St. Louis, it appears that the old large cents were scarce andwere referred to as being only seen in the "dusty boxes at thePost Office." (Coin was generally held in wooden trays (boxes)placed near the tellers; at closing, the trays were removed to besecured in a locked safe.) This being apparently a swipe by theauthor that cents once spent at the Post Office, stayed there.The layer of dust showed that the tellers never touched the centsstored in the boxes. Our reporter reveals that (large) cents areheld in contempt back in California.

By 1859, the dime and the half-dime had replaced the Spanish"Real" ("bit" or 12 c cents) or the "Half-Real" (medio or 6 ¼cents). The author's reference to foreign "quarters" (i.e. 2 Realpieces) nearly being forced out of circulation, except for thosewith the "pillars" clearly being "defined," is interesting.(Silver coins of the Spanish Empire through 1821 were struck witha reverse device of a globe supported on either sides by pillars(i.e. the Pillars of Hercules)).

As strongly "defined" pillars would tend to indicate lightcirculation wear, these coins were likely closer to full silverweight and therefore continued to pass at 25 cents (2 bits),although it may have been at the 20 cent official U.S. Governmentrate. It is interesting that despite all the New Orleans mintLiberty Seated quarter dollars produced since 1840, St. Louisstill used pre-1822 Spanish Empire coins. Also, Mexican Republic"cap and rays" 2 Real coins (post-1823) apparently didn't make itNorth to St. Louis.

Merchants in California and the new Territory of Nevada during1859 were still pricing tolls, drinks, and items for sale usingthe Spanish "bits" (12 c cents), despite the San Francisco BranchMint producing Liberty Seated dimes starting in 1856. Thereference by the reporter that in St. Louis nothing was beingsold for 37 c cents (3 bits), that merchants were pricing such"37 c cent" items at "40 cents" and in effect keeping the change,was (in my opinion) the reporter just "making hay" for theaudience back home. I'm not quite sure whether this was because"bits" were still in circulation in California or whether it wasjust fair game to attack a merchant that appeared too greedy.

This period, however, is about the start of the constantbickering that shows up in the California Press regardingmerchants retaining the "bit" pricing, even though "bits" were nolonger in circulation in California. The smallest coin incirculation became the dime, and, therefore, anything priced at a"bit" (12 c cent) meant someone would take a loss on thetransaction, and more often than not, it was not the merchant.Even the striking of half-dimes starting in 1863 at San Francisconever seemed to change the debate.

For more information on the Liberty Seated Collectors Club,see:
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