New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1870-12-08

I pHRs
uT5oiI,T'...... 1872 eraHs so mla nsls,s S5 en,s
9as5'er dolaT. 81 siograIus III mme'or 10 oen'
p,.or,uaton HeiaAt 90 D,1 ' ~ t ,1Iesu,.
Hi d1lar;..''''' g s 3Sl nilImccr is 10 crus
se..''....... % grains l6 milhmetcr. 2'OOe cts
II the proposed reduction should he deemed too great
i'm uroporton as already proposed in Congress, would
enable to coin silver 20 long as gold Is not over ~ per
cent premium.
WORK OF rur MINT AND BRANCHES.
The Mint work is necessarily hiudorcd and restricted
By the continued suspension Of specie payments We
are doing less than was done many years ago, When
there was much smallcrpopuaton and far less wealth
Certainly there is need Of creating any more coming
establishments. 49,, ~.
over, social the very foundation 1t is no won
der that urcurrency continues IN an abnorRai c3
ton. Most of people rarely get the sight of gold or
silver coin They know 10y the state OF the money mar
lr The relation between thc precious metals and current
paper notes. and they must be kept advised OF TINS 10
dcr,and what Is the real value OF those notes. Dul lhe
gold by which the measure is made IS almost as mucn
out OF sight as the sacred pound troy kogram care
fully guarded rs the final resort ,,.,.
But the people large will never give mp the idea thar
the real money is made of gold and silver; made OF
definite weight aud hneness, and certified by Govern
ment stamp. They Will use paper ana MS use VIII III
crease its mponderable property makes II very geaI
convenience Sun It Is only paper lltIe nte or wa't
destroys it and IL it does mot bear market relation 10
gold, il may be kept safe, and yet will buy nothing
cabinet minister Of England has intimated that we
might do without gold and silver money We're ~ hut au
we must bend ~ popular preudces. But in THIS matter
the common of the masses Is superior 10 the
arguments Of statesmen aud fnaneiers Paper guaIall
tecd by Government. answers some OF the ehdS OF
money at least within the bounds OF Its Government
but gold primarily, and silver as subsidiary PtyeeHg
answer ali the requirements Of currency. -,
Tcv wonid seem to have been 50 designed by an All
wise Creator I'm foresight ~ the needs Of civilized so
ma he; always IN request for articles OF Ornamt OF
household use of the higher types they pass through LII,
ton; they ductle and easily wrought ther gull,
on tneneS be quickly aud most minuteN
tive beautiful and nimitablc In addition 10 an lhe, hc
superior metal gold has weightiuesS or spttnS gravy
which sets at nOugh the baser limitations anu uo
If heavy TO carry are solid keep. They may he saG 70
last forever. Very many coins D0th gOlu auu slI'e
most as fresh and bright when they nrs eIt tle mint
This is not saying that they will not suffer by wear pu
are ndestrucbe such peculiar quail les DO not DelOhg
10 paper any other substitute for money. A.. -,,
III really seems necessary to reproduce these we'll
known facts, from time to time 10 cOunteiact lht dge
OF falling into the very error just quoted as coming rom
q British statesman. Indeed highly-respectable l0ur-
nal noted its judcious money articles, has Sad that
as our poItemonuales are nov 50 Wei % We
might well keep on with those bts OF paper ana
/ disnense with silver Thus mere paper frac-
tOna currency, got up to serve an eMgeDcy,
Is first endured, and finally embraced, even III
rags. The retired writer, sitting AT desk may per
suade himself into such notion; but those who are
paving ana rcCcivI shops ana markets, are heartily
tired OF handling ana respecting as money what Ihey
cuunpled notes induce habits OF PRODUCTIVITY and waste
fuuess. man viii spend ragged quarter OF q doilar
L
nomination. These arguments are not 80 much felt by
the favored few especially in cities who can commonly
supply themselves with fresh and clean notes; but the
case is different in the open country, where people must
take what they can get.
But the deficiency of mint work is not solely due 10
the continued suspension OF specie payments IL hap
ueus other countries where there Is no kuch SuSpth
SION. The Royal Mint of London, gigantic institution
whose work OifiuseS Itself throughout the world, often
has its times OF relaxation and leisure because there are
times when there is money enough 80 We must expect
similar alterations; and indeed we have them. Some
Years have been Overcrowded; other years we have
had little to do The irregularities attach 10 many
Departments OF business, however unWelcOme they may
/ be 10 those who hike TO be steadily employed. 800
Although present the amount OF work in the Mint
and branches not great III former years by rea
sou of causes which these institutions have no CON
troll yet gratifying taking review OF their oper
the past IL years. 20 see how large ana i'm
pOrta these have The deposits aud coinage at the
MINIS Philadelphia, and san Francisco, and the Assay
OAce NewIork, worthy OF special attention. and
prove that these institutions have well fulfilled their re
spectVe duties The following tables, made from ocia
records of the value deposits I'm gold and sive
from the scal year ending june 80 1882 to 1863 nclu
siye, at Philadelphia and San Francisco, and NeW-Hork
and of the coinage in value and number OF the pieces a
the Philadelphia and san Francisco MINIS, VIII eNhlb
the nature and extent Of the work DONE ana quety an
significantly tell their own story: go 800.
Jntef htdifs 1nf PhN
dJ,lia: Lrqfa1 Mint Fr1aISc0, qpd 1ssdy Ogt Ntu
Yak Jr0n 1883 70 1903 t1eiusire.