The daily union., 1854-02-14
The United states Mint Annual report or the
Director.
MINT or THE USnsp srArEs.

MINT OF THE UEnsp SrArEs,
Philadelphia, January ~, 1854
SIR have the honor submit the following report.
IN compliance with the act OF Congress oi the 18Th Janu
AIRY, 1891:
The coinage including gold bars executed at the Mint
in Philadepbia IN 1853, has amounted $780, 249 72
OF which $50 in gold coins SIS 1886 997 "a
were IN refined gold bars. s7,s5257i were in silver
coins, and S67,O59 rs in copper coins This coinage
comprised in 90, 775.537 pieces being more than
twice the number OF pieces before struck in the
mint IN single year The deposes received were S53,
3l5 632 "a IN gold, and IS 1867 339 in silver including
silver purchases made pursuant to the act of March 3,
1858; making total OF S8l 6s2 ,97l "a.
The coinage at the branch ain, at New Orleans amount
ed 10 @3,44oO00; OF which S2,220,000 IN gold
coins, and 81 225 900 in silver The number OF pieces
struck was 6532,O00 The deposles 81 1852 1854 l6
IN gold and $a536l3 % in silver including silver pur
The coinage OF the branch mint at Charlotte North
Carolina. amounted 10 1899 $40 in gold, comprised ia
77.0so piecss. The deposites $306l57 06 in gold
Ihe coinage OF the branch mint at Dahonega Geor-
ga, amounted to S462.sls in gold. comprised in 9s43s
pieces. The deposiles 1852 259 76 in gold
The total coinage Of the mint and its branches for the
year 1853. follows: Gold. $55. 5.2l3,9O6 81; sill
537 ~
Ii may be interesting to state that one million of dollars
weighs, IN gold, 1886 81 lbs avolrdupos, and in s-
,s57 lbs. II 1900 lbs be taken the tom il will
be that our coinage operations during the last year
reach abou, one hundred and two tons OF god and two
hundred and forty-nne tons of silver.
The amount OF gold OF domestic production deposited
at the mint and its branches during the last year was
$35 622 OF which sum $685. 4S7 was from Cali
iorna and the balance from The Atlantic States, except
few depostes from Oregon of the value OF $3 535
These the first deposites from that Territory and
are characterized by having an appecabe per cenage OF
platinum sand.
The silver parted from the gold from California
amounted TO the sum OF $i07l33. ln addition TO which,
there received other silver of domestic produc
ton TO the value OF $l0,l46.
Al the principal min several depos,es OF Australian
gold have been made during the last year. amounting
$l95, 900.
The entire coinage the several mints from the time
they commenced operations is as follows:
Mint at Philadelphia, u793) S322, ,s2s, ,s6s
Branch mint a, New Orleans. usss) 50 497,6s5
Branch mint at Charlotte US3a) 3,7yo,e3S
Branch mint at Dahionega, Us3s) 5,2SJ,72S
Total a all the nints 1881 1871 299
annex TO this report several tabular statements exhb-
ng the foregoing results somewhat in detail, and pre-
sen,ng some other statistics respecting the operations Of
the mint.
The dimnution OF the standard weight of the bali dol
lar and lower denomna OF silver coins authorized
by the act of March g. 1862 has been attended with good
results. Under its operations we have had large sup
ply of silver bullion and the silver coinage OF the new
issue has reached the Of 50 65i ,l6i, which is
larger amount than struck during the five years pre-
cedng Several millions OF silver coins have thus been
added 20 the currency and if the circulation of small
notes could be excudea as 10 render Inc supply
sary in short time The new coin would be in general
use IN every part OF our country. The appreciation OF
silver rendered this alteration necessary The silver
coins OF the former standard issued al The rate OF
ile ALL cents per The average price Of silver Of
like haeness at London and Paris, for several months
past. has been l2l cents per ounce.
II very evident therefore, that coin issued under the
former standard would be wnhdrawn from circulation,
and would have had silver currency except the old
and much worn Spanish fractions OF dollar the value
OF which is diminished from twenty per cent II
10 proper 10 remark that some misapprehenson has pre-
vailed IN regard 10 the alteration The silver coin The
idea enormously entertained by many persons that the
neness oil the silver used in The coin below The
former standard Toe only change, however, is in the
ro NH Tho half IniI hair npv fo.rt al
quarter grains below the fotmer standard weight and the
smaller coins in the same proportion.
In England since 1916, silver currency has been
maintained by similar There the depreciation
OF silver below gold. a, the prices which ruled when
the standards adjusted by law, may be ed at III
per cent Oar depreciation below Inc ofmer standard
compared with gold - nearly per cent The profit to
the British mint, when dollar silver s sold al FIVE shil
lngs per in the London MARKET (Which an aver
age price, is seven per cent II we bought silver at the
same rate our proht would be not quite per cent Bat
ptice OF silver is 2 per ounce OF standard
hneness, there advance OF $40 per cent the ne
coin being Issued at the OF las cents per The
apparent profit 10 the government is, therefore, cents
per ounce, but from this must be deducted certain
penses and W asiage.
As soon as the wastage Of The last year Is determined
report the subject will be presented 10 the Treasury
Department.
charge OF the bali OF one per cen, on The gold coin
age is authorized be made from and after the ist of
April last The amount OF these charges al the mint and
branches - as follows AT the
Mint at Phiadslphia sI09 96J Al
Branch mint New Orleans 66s4 90
Branch mint at Dahionega sl6 90
Branch mint at Charlotte lIsg %
Total at all the min,s siIssr Il
These sums will be transferred TO the treasury OF the
n,ed States pursuant 10 The 9th section oil the OF
Congress before referred TO.
The hreejolar gold coin authorized by the las, Con.
gess will be issued the dles-now in progress
are completed. From the close approx ximation in weight
and value which this coin will have The uarter ea,e
II has been deemed expeden 10 make the devices upon il
different from any coin heretofore issued. The device
adopted Tor the obprfe is ideal head emblemaiic OF
America enclosed within The national legend The re-
will present wreath indicating The most prominent
productions OF our soil, and enclosing the denomination
and date OF the coin.
The branch MN, at San Francisco. California, ii is ex.
peced, will be ready 10 receive deposes and commence
operations about the 1s oil March next In consequence
OF change IN the grade OF The stree, which the build
ing is being erected, lime will be consumed in It's
completion than anticipated The machinery which /
constructed in Philadelphia arrived there IN good
condition the i2ih OF December last but portion OF
the fixtures and apparatus had arrived on tue 3oh of
December the date of my last advces the vessel con.
tanning them having then been hundred and foy-
i've days. These circumstances will probably DELAY the
oil coming operations mill the time above
stated Tho coins TO be issued by this branch of the
mint will be desa mated By the letter on the reverse II
ia proper TO remark that the coins OF the other
are designated as follows, New Oeans by the letter o.
Dahoneea, ID Charlotte, G the coins Of The principal