The New York herald. [volume] (New York [N.Y.]) 1840-1920, 1854-02-12
The United States Mint.
ANNUAL RIPORr OF The DIRECTOR.
MINT OF THE UYlTsD STATES,

PnILADELpHIA, Jan. ~, 1854 I
Sir-I have the honor to submit the following re-
port, in compliance with the act OF Congress Of the
18th January, 1877
The coinage, including gold bars, executed at the
Mint in Philadelphia, in 1868, has amounted to
Coins, 81, 1856 ,997 "a were in refined gold bars,
81 s52 OIL we're in silver coins, and s67 O59 78 in
copper coins. This coinage was comprised in
G9,775 ,537 pieces, being more than twice the num-
Der Of pieces ever before struck in the Mint in .
single year. The deposits received were
s633l563 GA in gold and IS 1857 $3.50 in silver, in
cludpg silver purchases made pursuant to the acs Of
March 3, 1853; making total OF $61 6s29 7l 64.
The coinage Of the Branch Mint at New Orleans
amounts TO IS 445 600, Of which g. 220 600 were in
gold coins, and 81 225 900 Ia silver. The number Of
pieces struck was 1852, 900. The deposits were
l522J4 l6 in gold, and sl536l 3l 06 In silver in
GLIDING silver purchases Total Sc ,6Ss 1856 %.
The coinage Of the Branch Mint in Charlotte,
North Carolina, amounted to s339,37Q in gold com
prsed II Os6 pieces The deposits were 1905 l57 06
In gold
The coinage OF the Branch Mint at Dahlonega
Georgia, amounted to SAGE 918 in gold, comprise
in 99, 439 pieces. The deposits we're s452,2S9 rs in
gold.
The total coinage Of the Mint and its branches, for
the year 1853 as follows-Gold, $55 2l3 800 a.
silver s9.017.51l; "copper" s67,059 IS. Total, sA,'
1t may be interesting to state that one million of
dollars weighs in gold 1856 81 lbs svoirdupois AID
in silver 81 S57 lbs. IL 2 900 lbs be taken the
ton II will be seen that our coinage operations dur
ing the last year reach about one hundred and two
tons Ct gcd aud two hundred and forty noe tons Of
silver.
The amount OF gold OF domestic production de-
posied at the Mint aud it's bran hes during the lass
year, was s55 622 ,05l; OF which sum So, ll3 437
was from California and the balance from the At
lantc States, except few deposits from Oregon, OF
the value of sl3 $685. These we're the frat deposits
from that Territory, aud are characterized by having
al appreciate per centage OF platinum sand
The silver parted from the gold from California
amounted to the sum OF S407 ,l33. In addition to
which there was received other silver Of domestic
prediction 70 tie vaue OF $l0l46
At the principal Mint several deposits OF Austria
liam gold have been made during the past year,
Am, uniting to Sl95 900.
The entire coinage at the several minis, from the
time they commenced operations, is Is follows -
Bran; r.ir. at New ofssSs & sae).. so,s7Go,
Branch mint at Charlotte, IS S)......... 1890 0.s
Branch nint At pshloness, (s3s) ....".... 6,2sa7S
Total .. all III. minis .s3sl, 7s7, 200
! annex TO this report several tabular statements
exhibiting the foregoing results somewhat in detail,
ard presenting some other statistics respecting the
operations Of the mint.
The diminution Of the standard weight Of the half
dollar and lower denominations Of silver coins author
lied by the act OF March g. 1853 has been attended
with good results. Under liz operations we haze bad
large supply OF silver bullion, and the silver coin.
age OF the new issue has reached the Of 1851,
l6l, which is larger amount than struck during
the five years preceding Several millions OF silver
coins have thus been added to the currency; and il
the circulation Of small notes could be excluded so
81 to render the supply necessary in short time the
new c. in would be In general in every part of our
country. The appreciation OF silver rendered this
alteration necessary. The silver coins OF the former
standard were issued at the rate of ll6 A. cents per
ounce. The average price Of silver of like dneness,
at London and Paris, for several months past, has
been 12l cents per ounce.
II is very evident therefore, that coin issued under
the former standard would he wth6ra from circu-
lation, and we would have had no silver currency
except the old and much worn Spanish fractions OF
q dollar, the value of which IL diminished from ten TO
twenty per cent IL is proper to remark that some
misapprehenson has prevailed in regard TO the
alteration in the silver COIN The idea Il erroneousy
entertained by many persons that the neness OF the
silver used In the new coin Is below the former
standard. The only change, however is In the
weight; the half dollar being nov fourteen and a
quarter grains below the former standard weight,
and the smaller coins 10 the same proportion.
In England since 1916, silver currency he's been
maintained by similar means. There the deprecia-
ton CT silver below gold, at tie prices which ruled
when the standards were adjusted by law, may be
stated at eleven per cent. Our depreciation below
former standards, compared with gold, IL nearly
seven per cent The profit 10 the British Mint, when
dollar silver is sold 81 five shngs per in tie
London market, (Which Ia average price) isseven
per cent. II we bought silver at the same rate our
profit would be not quite tsree per cent But as our
price Of silver ia III cents per ounce OF standard
ireness there Is advance of but $40 per cent,
the new coin being issued at the rate Of l25 cents
per ounce. The apparent profit to the government
~ therefore, ieur cents lcr ose Du. rd. si.a IL
We deducted certain expenses and wassage.