San Francisco Old Mint Commemorative Coin Act

Mr. Speaker, I rise today in support of H.R. 1953, the ``San Francisco Old Mint Commemorative Coin Act,'' introduced by the gentlelady from California, and urge its immediate passage.

It is often said that coins tell the history of a country, and of the world. If this is so, Mr. Speaker, mint facilities tell the history of coins, from the most modern mass-production mints such as the United States Mint plants in Denver and Philadelphia, back to the earliest mint, thought to be in the Kingdom of Lydia, which is modern-day Turkey. Greeks living there began using a system of weights for trade in 2,500 B.C. But in 700 B.C. merchants started making punch marks on lumps of metal so they could trade without weighing the metal for each transaction.

Mr. Speaker, if you were to pick one mint to focus on to understand the history of coins in this country, it would probably be the San Francisco Old Mint.

The Old Mint at San Francisco, known as the Granite Lady, has seen 130 years of this country's history, from the day it opened in 1874 until its official closing as a production mint in 1937, and subsequently as offices for the United States Mint. More recently during a roughly 20-year span it was a Treasury-operated coinage museum--starting with a Nixon-era renovation and ending in the mid-'90s because of cost concerns mostly related to upgrades that would be needed to withstand earthquakes.

Mr. Speaker, this is the second U.S. Mint production facility built in San Francisco, the first having been built in 1852, right after the great California gold rush of '49, and the third being the one that operates there today. The Old Mint, known as the Granite Lady, was designed by the architect A.B. Mullett, who also designed the Treasury Department's headquarters and the Old Executive Office Building here in Washington. At one point, the building made half of the circulating coins produced in the U.S., and held a third of the Treasury's gold reserves.

But perhaps the most notable point in its history and one to which many of us can relate today, came after the Great San Francisco Earthquake of April 18, 1906, and the fires that followed. The Granite Lady was saved from the raging fire by Treasury Department employees and the U.S. Army with a single, one-inch hose, saving the equipment and $200 million worth of gold inside. With all of the city's banks destroyed, the Mint building became the city's financial center. The building became the holder and disburser of the relief fund formed for the city, was the only point of payment to and from the city, and made all of the payments into the city. With memories of the recent hurricanes on our mind, I'm sure we can all imagine how important the Granite Lady was to the rebuilding of San Francisco.

The commemorative coins that would be issued under this legislation would be available next year, in suitable recognition of the 100th anniversary of that event.

The history of the building since it ceased being a Mint facility is less glorious. While operating as a museum, it was damaged by at least one earthquake, in 1989, and was said to be too expensive an operation for Treasury to keep open. It finally closed in 1995, with its exhibits sent off to other museums or back to those who had lent them.

Now, a new project to earthquake-proof the building, renovate it and open museums--on San Francisco and on the Gold Rush, as well as a numismatic museum--has gained momentum, and the surcharges on the sales of gold and silver commemorative coins authorized in this legislation will add millions to that important project. I will note that while Greeks were the first producers of coins, Romans were the first to collect them. Romans initially prized Greek coins, especially the older issues, but they later collected their own coins. Now, many Americans, while collecting foreign coins, are proud to collect U.S. coinage, from the early days down through the 50-State quarters and, I hope soon, the Presidential dollars. A coinage museum in this grand old building would be a boon to collectors, teachers, and students.

Mr. Speaker, this proposal is an excellent idea for a commemorative coin. It has received the required two-thirds co-sponsorship of House members, and if enacted will proceed at no cost to the taxpayer. I urge its immediate passage.

House of Representatives,

Committee on Financial Services,

Washington, DC, October 25, 2005.

Hon. William M. Thomas,

Chairman, Committee on Ways and Means, U.S. House of

Representatives, Longworth House Office Building,

Washington, DC.

Dear Chairman Thomas: I am writing concerning H.R. 1953,

the ``San Francisco Old Mint Commemorative Coin Act,'' which

was introduced in the House and referred to the Committee on

Financial Services on April 28, 2005. It is my expectation

that this bill will be scheduled for floor consideration in

the near future.

As you know, Section 7 of the bill establishes a surcharge

for the sale of commemorative coins that are minted under the

bill. I acknowledge your committee's jurisdictional interest

in such surcharges as revenue matters. However, I request

that your committee forego action on H.R. 1953 in order to

allow the bill to come to the floor expeditiously. I

appreciate your cooperation in so doing, and agree that your

decision to forego further action on this bill will not

prejudice the Committee on Ways and Means with respect to its

jurisdictional prerogatives on this or similar legislation. I

would support your request for conferees on those provisions

within your jurisdiction should this bill be the subject of a

House-Senate conference.

I will include a copy of this letter and your response in

the Congressional Record when this bill is considered by the

House. Thank you again for your assistance.

Yours truly,

Michael G. Oxley,

Chairman.

Mr. Speaker, I thank the gentlewoman for yielding and for her leadership on this bill which is so important to the City of San Francisco but, more importantly, to our country because it is part of our country's history.

I want to extend my gratitude as well to my colleagues on the Republican side of the aisle who have made this a very bipartisan effort. As was indicated by the gentlewoman from New York, we have 291 co-sponsors. That is why we were able to come to the floor. I thank Members so much for their help.

I am proud to rise in support of the San Francisco Old Mint Commemorative Coin Act, my bill to authorize the issuance of commemorative coins in 2006 honoring San Francisco's Old Mint. As you know, Mr. Speaker, that was the year of the great earthquake in California, so the history is very meaningful to our area. H.R. 1953 will help ensure that this building exists for many generations to come.

Congress established the San Francisco Old Mint, as others have referenced, in 1852. This was immediately following the Gold Rush in 1849, and it

was affectionately known as the Granite Lady.

The Mint is the oldest stone structure in San Francisco. Its architect, A.B. Mullet, also designed the United States Treasury Building, and we all know how beautiful that is, and the Old Executive Office Building here in Washington, D.C.

In 1906, disaster struck the City of San Francisco in the great earthquake of that year; and next year will be the 100th anniversary of the earthquake that leveled much of San Francisco. With infrastructure destroyed and lines of communication severed, the city was unable to respond when a subsequent fire spread to anything that would burn. The blaze raged for more than 3 days and destroyed more than 28,000 buildings. More than 3,000 people died and more than 225,000 lost their homes. This was a huge number considering the population of San Francisco at the time.

Yet, as much of the city crumbled in one of the worst natural disasters in our Nation's history, the Granite Lady stood strong. Mullet's architecture let the Mint float on its foundation, allowing it to survive the earthquake and the fire. Treasury Department employees worked with the United States Army with only one hose connected to two wells on the property to save this building and the $200 million in gold that was stored in its vaults. It was the only functional financial institution after the quake in San Francisco and was used as a relief fund treasury. The coin's 2006 issuance, 100 years later, will honor the Mint and its role in San Francisco's recovery.

The Old Mint operated until 1937. It played a pivotal role in the completion of the Transcontinental Railroad and the economic development of the western United States. At one time, the Granite Lady produced more than half of the United States coinage; and by 1934 it held a third of the Nation's gold supply. The Mint produced many rare coins, some worth more than $1 million, Mr. Speaker. Coins minted in San Francisco bear the S mint mark, which is very significant.

In 1961, the Mint was designated a National Historic Landmark but slowly fell into disrepair, to be closed in 1994 due to structural concerns. Since that time, I have worked with our two senators, Senator Feinstein and Senator Boxer, to give the recognition to the Old Mint, the Granite Lady, that she deserved.

The National Trust For Historic Preservation lists the Mint as one of the most endangered American structures. Today, with this bill, we can help declare the Old Mint endangered no longer.

The American Numismatic Association has partnered with the City of San Francisco and the City of San Francisco Museum and Historical Society to establish a special coin museum. When completed, the Mint will be one of the Nation's largest museums devoted to telling the story of our country's coinage from colonial times up to the present. Along with our rich history comes a responsibility to preserve and protect it for future generations.

I am very, very proud of the history that the Old Mint, the Old Granite Lady, represents. It is about the founding of our city in San Francisco in Gold Rush times. The Mint almost corresponds to that date, and it has been part of our history and that of our country ever since. I urge my colleagues to join us in commemorating the 100th anniversary of the 1906 earthquake and fire and to honor the landmark of national significance with a vote for H.R. 1953.

Again, I thank our colleagues, both Democrats and Republicans, for their cooperation on this bill which is very important to our country's history.

Mr. Speaker, I yield myself such time as I may consume.

Mr. Speaker, I am delighted to manage debate on Leader Pelosi's bill for the Democratic side. Since the bill has over 291 bipartisan co- sponsors, my task is a pleasure.

This bill commemorates the historic San Francisco Old Mint Building which housed the San Francisco Mint from 1874 to 1937 and is a national historic landmark.

The San Francisco Mint was established in the 1850s because it did not make sense to transport the gold being produced by the California Gold Rush all the way to Philadelphia for coinage. Called the ``Granite Lady,'' the building was designed by A.B. Mullet, the architect of the two buildings that flank the White House, the U.S. Treasury Building and the Old Executive Office Building. In fact, the Old Mint looks quite a bit like our Treasury Building.

The Granite Lady survived both the earthquake and fire of 1906 and served as the treasury for the disaster relief funds afterwards since no other financial institution was operational. The Mint outgrew the building by 1937 and moved to a new facility.

Today, the San Francisco Mint only produces commemorative coins, so if you find a circulating coin with the S for San Francisco on it, it is a curiosity and a collector's item.

The Granite Lady is now owned by the City of San Francisco which is converting it to a museum. I find it particularly appropriate that we are honoring this landmark with a commemorative coin 100 years after the great fire. The bill requires the Treasury Department to mint and issue gold and silver coins in 2006 only. To the extent possible, they are to be minted at the San Francisco Mint. The profit from the sales of the coins is to be given to the San Francisco Museum and Historical Society to convert the old building into a museum which will house exhibits on the Gold Rush and coinage, among other important city themes.

I note that in a bipartisan spirit, at the request of the administration, the bill corrects a technical problem so as to ensure that collectable coin sets including nickel coins can be available to collectors beyond the original period which was mistakenly limited. The Senate has informed us they have no objection to this addition.

Mr. Speaker, I yield such time as she may consume to the gentlewoman from California (Ms. Pelosi), the sponsor of this bill and the House Democratic leader.

Mr. Speaker, I yield such time as he may consume to the gentleman from California (Mr. Lantos).

Mr. Speaker, I have no further requests for time, and I yield back the balance of my time.

Mr. Speaker, I want to thank my good friend and colleague from New York for yielding me time. I would like to pay special tribute to the Democratic leader, Ms. Pelosi, for offering this bill. I have the great privilege of representing the City of San Francisco along with Ms. Pelosi.

Mr. Speaker, during the Gold Rush of 1848, so much precious metal was found in Northern California that the United States was compelled to build a mint in order to melt the gold into coins for ease of transportation across the United States. The construction of our Mint in San Francisco was authorized in 1852, and it was completed just 2 years later. But soon the Mint outgrew its humble beginnings, and in 1874 a new building was erected in the style of an ancient Greek temple.

The walls of stone would allow the Mint to withstand one of the most devastating earthquakes the United States has ever experienced. On April 18, 1906, at 5:12 in the morning, San Francisco woke to the earth shaking like never before. The Old Mint was one of the only buildings left standing and the only financial institution that could still operate. The Old Mint became a refugee village and distributed aid to those who had lost everything.

As fire devastated the city, the Old Mint was saved by the quick and courageous work of the San Francisco Fire Department, a tradition the San Francisco Fire Department has maintained throughout its long and distinguished history. Like San Francisco, the Old Mint quickly rebuilt itself from the devastation of the 1906 earthquake; and, by 1934, the Old Mint had housed one-third of all gold and coin money for many nations, ranging from Japan and China to the Philippines and most nations of Latin America.

In 1937, the San Francisco Mint moved to its current facility, but the Old Mint remained under the Department of the Treasury until 1957, and the magnificent structure lay in proverbial mothballs until 1973 when the San Francisco Historic Society started renovations on the Old Mint to restore it to its previous grandeur.

Mr. Speaker, I am proud to be a co-sponsor and strong supporter of this important legislation that would allow the Old Mint to become a museum, showcasing the importance of the Mint in the history of the City of San Francisco. I encourage all of my colleagues to vote in favor of this legislation.

Mr. Speaker, on that I demand the yeas and nays.

Mr. Speaker, I move to suspend the rules and pass the bill (H.R. 1953) to require the Secretary of the Treasury to mint coins in commemoration of the Old Mint at San Francisco, otherwise known as the ``Granite Lady'', and for other purposes, as amended.

Mr. Speaker, I yield myself such time as I may consume.

Mr. Speaker, I rise today in strong support of H.R. 1953, the San Francisco Old Mint Commemorative Coin Act. This legislation, which I and two-thirds of this House have cosponsored, will recognize the unique contribution to American history of the Old San Francisco Mint by authorizing 100,000 gold half eagles and 500,000 silver dollars to be struck to raise funds to preserve this facility.

The San Francisco Mint was authorized by Congress in 1852 to convert Gold Rush bullion into coins for our growing economy. This landmark facility was one of the only public buildings to survive the 1906 San Francisco earthquake and become a rebuilding center and symbol of the city's recovery. Just 9 years after the earthquake in San Francisco, the San Francisco Mint struck the coins for the 1915 Panama Pacific Exposition celebrating the rebirth of San Francisco and the opening of the Panama Canal.

These coins include the celebrated 50-dollar commemorative gold pieces, the largest denomination commemorative coins ever struck in this country, as well as the only hexagonal coin ever struck in this country.

The design of the coins authorized under this act will join the Panama Pacific Coins and other famous coins struck at the Old San Francisco Mint as monuments to coin design and the history of our Nation.

I urge the Members of the House to join me in supporting this legislation.

Mr. Speaker, I reserve the balance of my time.

Mr. Speaker, one can see that this is a strong bipartisan bill that deserves the support of every one of our colleagues.

Mr. Speaker, I have no further requests for time, and I yield back the balance of my time.