The Simson Petition

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In May 1785, Solomon Simson, Myer Myers, and Walter Mould petitioned the Third Continental Congress, then in session in New York City, to produce coinage for the newly founded United States of America. Simson and Myers were Jewish businessmen, and Mould was a coiner. By partnering together, they hoped to present themselves as having both the financial backing and the coining experience needed to successfully compel Congress to accept their petition. 

This petition presents a fascinating area for study, as it is one of the few surviving coinage petitions from the 1780s to the federal government. It also provides a glimpse into daily life in colonial America and some of the problems that plagued that era. It highlights one coiner’s life and, despite the fact that the petition was unsuccessful, it ultimately changed the history of the coinage issued in our nation before the Constitution was signed.

The Men Behind the Document

Solomon Simson was a second-generation American. A successful merchant, he was prominent in New York politics. He, along with his brother Sampson, were active in founding the New York City Chamber of Commerce. He also helped established the Democratic-Republican party of New York and served as its vice president and president.

Rivaling the skill of Paul Revere, Meyer Meyers had a thriving business before the Revolutionary War and was an important, highly respected colonial silversmith. He had an awesome apprenticeship for seven years starting in 1738. His works are owned and prized by many museums around the world. Unfortunately, after the war, New York City was thrown into economic uncertainty and turmoil, and in part because of it, Meyers’s business never fully recovered.

Walter Mould, a prominent minter of New Jersey coppers, was a counterfeiter of British halfpence. He was working in the illicit Brewery Mint at the time, which was producing counterfeit coinage. After getting caught in England, he became more cautious and likely wanted something that was legal and less risky. He held much of the tools and machinery necessary for such a coinage operation to be possible.

A Grand Proposal

Struggling with their businesses, Simson and Myers, who were part of the same Jewish congregation and knew each other well, decided it was time to reset and start a new business. They decided, likely because of Myers’s experience in assaying, metalworking, and silversmithing, to petition the Continental Congress. This petition was to make a new mint to produce coins for the United States, not just copper like many other mints of that era, but silver and gold coins too! Likely, they knew Walter Mould and that he would gladly help as he wanted a legal job. They soon wrote up their petition and sent it off to Congress. Reading through the petition helps give us some insight into the coiners’ thoughts and intentions. It was concise, and they effectively argued their cause.

The Simson, Myer & Mould Petition to Congress (edited for clarity and spelling):

By Solomon Simson, who would undertake the superintendent direction of management.

By Mould, who would undertake the mechanical part of the operation respecting the milling coinage.

By Myer Myers, who would undertake the purifying, assaying or alloying.

A large quantity of silver is now attainable in this city from eight to eight and Six pence per oz. That it is supposed that an additional quantity might be obtained from many of the Sister States.

That coining the same at the above mentioned prices might be attended with profit (&) afford a Circulating medium to the United States.

In order to (procure) a greater quantity it is humbly proposed that Congress would please to recommend to each of the States to lay a Duty on all (plate) throughout the United States which may be the means of bringing a very considerable quantity, which now lays dormant into circulation and probably (tend) to increase our national credit.

That when no gold or silver should be in readiness for coining in that phase sufficient employment might be found in striking of copper. That the purity and weight of Gold, silver or copper should be directed by Congress with such Impressions or devices as they in their wisdom might order, which should be duly and completely executed agreeable to directions.

In order to save the expense of erecting buildings and to have some assurance against fire, or other casualties, The fort, the small barracks, it contains with the vault which formerly was the Magazine for Powder with some small additions, is supposed would fully answer the proposal.

Another proposal

To receive at the Mint Spanish Milled Dollars from the Treasury or Treasuries of the different States by annealing of them and giving them a new impression, something similar to a crown which would extend the surface, where they might pass for a crown throughout the United States. Half Jo’s or any other coin might be done much in the same way and by adding to their weights their value might be fixed at nine or ten dollars.

These remarks are humbly submitted to the consideration of the Honorable members of the Continental Congress and the subscriber would be willing to take it in conjunction with W. Mould and Myers if the terms would be such as to afford each of them a good and sufficient living. Otherwise they would undertake it for Congress receiving no benefit or emolument from it but such pay as their different situations might require.

Solomon Simson

Analysis, Results & Impact

Studying their petition, it is clear that Simson and Myers not only wanted to strike copper coins as many mints did in that era, but they also wanted to mint gold and silver coinage. This would have been a giant leap forward for the government because at this time most of the money in circulation was either underweight counterfeit coppers or the inflationary Continental Currency that plagued the American economy during that era. The introduction of gold and silver coins likely could have also decreased the severity of the copper panic, which happened several years later.

It is not known how long until they heard back, but when the news arrived, it was not good—their petition was denied. Despite no letter of the outcome being known, it is obvious that it was rejected because no fruit of this endeavor has survived to this day. If this petition had been accepted, American history would have been significantly changed, and the U.S. Mint would have likely been established at a much later date, if ever. A couple years later, the government awarded a grant to mint coinage to James Jarvis. He left the government in a less-than-secure financial position. Because of his misuse of funds, the need for a national mint was much more apparent and urgent. This motivated Congress to establish the national mint. Overall, this is a fascinating petition to study. It presents an intriguing glimpse into the money of early America and the story from that eventful month of May 1785.

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Clark Davis is an enthusiastic young numismatist who loves learning about coins by studying them, reading books, conducting research, writing articles, and doing anything else related to numismatics. In 2022 he discovered the Wilma Mankiller quarter with the huge, bi-level die break and retained cud; he subsequently was interviewed for several publications, including Coin World, The Numismatist, and Errorscope. He collects early American copper coins and numismatic literature.