New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1870-12-08
THE U. S. COINAGE.
REPORT OF THE DIRECTOR OF THE MINT
MIN OF THE L. $, PIuIADELrmA.O oct a. 1870

u =,
SIR: have the honor to submit the follow
Iperor ofthe operations Of the Mint and branches Tor
the fiscal year ending June 50, $50:
DEPOSITS AND COINAGE.
Tie deposits Of bullion al tie Mint and branches dur
trg tlo fs,ai year were as follows;
Gold, $50 1920 as silver 1919 81. Total deposits
k299o2io 90.
Deductug tho redeposts or bars made ut one branS"
OF tie Mint and rederostcd in another Tor coinage INC
amount will be SaO,,Os,,ss 10.
The coinage for the same period was as follows ,--
Gold coin, number Of pieces, l,i56Oo'; N"lue' 60
G2 80: impaired and fine gold bars F''4"O'1 30 =,
coin pieces, 46i9,595; value, N,'0'S oO' So 49, oo,
0O2SOO cs nickel copper, and bronze p''C' oo5
value sou, 49, total number Of pieces ." "'A
total value of coinage, S5SSS4's6' w. ,..,o Of
The distribution Of the buulOh IV'OI'0" ""
the Mint aud branches was as follows! ,.s,-oo
PLtadeUhia-At Philadelphia, guild delosIIe'' 70 ,'
$50 p; coid c,ined S2SO752 80; fine eoiu "aI' -,
G24 o.; silver deposited and purchased Sl,''-o' w.
yer coined GO 90; silver bars Sg''Vo VI,
eoppcr and bronze coinage, value, Stlltto A''' "'
eosits Of gold and silver, S2265' 81 to' 'o'N"H'' "
bl.stO o.: total number OF pieces, 2l'S,oo40'
Szr Fso,ieisco-At the branch mint san Fraholsco'
tine gold derosi.s were SsSi6 o. gold cointd Sslo
oso silver deposited and purohascd S'9iilo Il sNer
coined S5a4JOO. Total deposits and purchases Sis''i
SO Is; total coinage, sl9slO''i to'a nuOei VI PO0
G592ISl
A,ao york-The ASSAY eiiye in NcwYork received dur
ig, the ,car m gold bullion. Scl5-.Sl 81 IN silver bull
hon lrudiE. par osts, SCl&a6i i6. Total Vane re-
c.i,,1 1-l.6 20 number rf fire sold bars stamped
go: value. c2tS II silver bars 5Si value S'O'
40 u.: tits. wade OF sold ana silver bars stamped
S..l,G6 -.
D,arrr- 80 IN branch MINT now ASSAY ONCE Denver
CGmaIo. the deposits for impaired ban vcre; Cold
&, a0 ls silver slsT o. Total deposits, S1,OO5Oj0 o.
IT, statement exhibits very gratifying increase in the
drlo ovcc those Of last year. and We have every rea
SOL 10 anticipation continuing increase in the deposits
and na-.s.s ,f this Office IL principally engaged IN
trsl.Irr nr and 81 l'upug gold aud silver bullion
mud return NJ Oh, same To the dcp1AtOrs IN uuPar cd
bars bcale The Government STAMP Of weight ana me
less IT,, experience II re past year fully lusJhee the
oecaIatlo made in ny H. aLua. Teltt, Una. a. a.,
r.iuOt6 ,ctuay the mining interests of the region
as min. os coinage could POSSIBLY do All TINS II mas
g., Ia and enc Iu,t. the efforts made e. discover aud
iucreIs. tie production Of the precious metals. 49,.
ltal.ott-Iht dcYoi,s &C tie branch mat Charlote'
%1.t CaIcul, nov iu operuon as an assay once hal Z
10 neeu large, but Increasing. TLcSe deposits are
,ssyeo ana returned dopositors in the form Of I'M
piIcl bars. TIT deposits toI bars curing ue ear were,
g. ICl'5 Can increase OF Sl'io ~ over tAo'e Oh Last
6giron,ga and Ns,r-Orleans--Tle branch minis at
D5aio0cCa Georgia, ana New-Oretns louisiana are
st closed ana uO sty exists for their being again
op.fCd either ,say offices or branch mint, -,.
COSJu tity The bauch inilt az carson Ct!, NeEaHa,
j. uuw in operation In May 1862, the fitting up OF TINS
llaueh for bushes, mint was commenced, ana com
$50 il was opened for the reception Of bullion The SUI
peiAteHdet his report saJ s: since that tlne the
ine afforded other institutions OF its kind viii do large
business both in refining and coming
Tns branch mint, to make II efficient and successful,
REQUIRES bullion fund equal TO the legitimate demands
No such fund has as Set been provided for the stitu-
ton. Tie urgent request OF the superintendent for
tb 1 %2 tog fhSr eonsGeraton and
acton. ti5 desirable that the subject should be favor
ably considered and the fund provided. The delay
slys the superintendent in his report, in giving the
branch sufficient amount OF gold and silver 10 c4sl
deposits so slOn as t cir value should Oe determined mas
operated very miUnOlsly as well in regard TO the
amount Of bullion received as IN the expense oil Worklng
ceutaec wastage than small ones and the labor OF
IVmcltug ami rca.saYng has been much greater han
ia reference to the future OF this branch, aud its nu
tie report SAYS: Tie mining interests Of the country
from whence the larger portion of bullion Is receved
and aT Quantities d 6uOn Produced Is the
worns thS ore As oeTGRg 6Ie5 This brena Nj
Increase its business materialy during the next hsc
ests OF this and adjoining states"
Tie deposits 1t TINS branch during the year were
Gold SI.3,l5f A. gold c0lleI s0576 90 silver deposi
and purchases, S2s252 &c; silver coined, S1o793. TOT
deposits and purchases go total coinage sl5.
rcura gng and il is earnestly desired that the pIeseI
Cnture prosperity of This branch. cannot
peatnE the declaration made ia my last annual TepoT
velopmcu Of the iineTa. wealth OF our country shoul
I,yaaci Gint Foaeg-For my views on the subject I
assay Offices and lno impOcJ OF increasing the humble
81 branch rnt' rely Ttsp.ctuily to my eyious !,
he Importance Of the early completion OF the ne,
branch mint buildings at san Francisco cannot he to
strongly ug ed upon the Government Every consideIg
f.au % public ana private interest demands it, have
81 FORMER reports expressed convictions Of the
plisnce Of IN, work and now earnestly repeat u
Recommendations then made.
FIrIJrH0E OF COPPER AND NICKEL COINS.
As authG-ized By law. the redemption Of the nickel
Vcfpor cents was during fiscal year. by ex
eli rrc for che hvc-oent nickel coins. The amount thu
redeemed in pounds 6s25T; value, sj6s72 &C. Tx
amount redeemed last year SlOlsG5 25 showing de
r asc Of S592 % and hcing $780, go rs less than The
amount redeemed during the fiscal year ending June 80
1s5s Tie amount now outstanding is but little if any
ia excess OF the actual demand. This is evident from
the fact OF the decreasing REDEMPTION and that orders
during tine past year Tor the bronze and twOcent
piece were largely in excess Of the amount redeemed.
Should provision bc made by law for the redemption
Of the one and twocent bronze coinSi Ihaye no hesa
corsiGcTaton oi public Interest or private convenience
deuands tlc redemption Of those coins or the suStu-
zion Of nickel OutcSn piece fCT the bronze coin OF that
onOmil atu Provision Is already made for redecming
The yCCeEt uiCKe coins, and beyond this the rcdeH p
ton OF e base coinage u not demanded " expected W
the public. | respectfully refer you 10 my remarks on
this subj 81 IN my at annual report
Probts.-Tle net profits OF tlc nckelcoppcr and
bronze coinage pad into the Treasury OF the United
States durln- the fiscal .car were S275,UO0
The dt Aidi Tor tll' elaM coinage mas from various
causts largely declined Inc REDEMPTION ana recall OF
maud ''''''''' W. '-'1 '''''''' '1' ~
A. required by law the alloy Of the minor has
been glaIy a5~yei and reported by the Assaytr OF
the Mint aud the legal proportion OF the constituent
metals las been properly maintained.
sILvEETOKES COINAGE.
II my last annual report, l urged tie adoption Of a
eycr currency for change" in Leu Of the postal
small note currency, important adjuvant to gen
era resumption specie payments, and that such sub
suOu would be- acceptable TO the people and fully ap-
proved iy them Il is gratifying to know that the
gcsuOu ticn InJd' have had tle approval OF wen
vcrsed m political economy aud OF sound practical tIa-
ueut. number our lcadii commercial ncWsp4Ler4
have also tmphuuCaly iuCOrsed the proposition.
TIE Recommendation made Ia substance Tint,
without waiting Cr the resumption al spe, ~ Infr n.
Congress all authorize tue issue at once of .lN eus
a the limitations OF 10, %, and % cents: tls NL g.
fts weight Of he proposed COINS bo reduced heow TINT
m the spOrdh present silver coinage tie stand, ri