The weekly Ottumwa courier. [volume] (Ottumwa, Iowa) 1857-1872, 1872-04-18
ceinaxs ana Rullie.

Chamber of Commerce, lately held,
report on coinage was made by Mr..
Ruggles. which contains manv tacts M 0f
tic COMMITTEES to report upon the bin
now before Congress revising and
amending the laws relative to the
mints, assay Offices and coinage of the
United States 1t appears that, not
withstanding the suspension of specie
payments since 1862, the mint, with its
branches, has coined the enormous
amount of $IO93, ,63S,O66 during that
period, averaging $32, ,l65,S26 yearly.
The coinage Of the last year, ending
3Oth June, 1871 amounting to $40, ,157,-
400, consisting of gold coin, $2l ,SO2, ,473 !;
stamped gold bars, $l320l, ,O69; silver
coin, $l,953, ,905; stamped silver bars,
$S,l5Al8O; minor coins Of nickel, &C.,
$2S3, ,76O. 1t Is considered probable
that in the remaining twenty-eight
years Of the current century the
average yearly coinage by the mint OF
the United States synay amount to at
least fifty millions, Il not sr.nuch larger
sum. The existing Coinage bill has
already lasted, with uniIs portant modi-
fications, thu kty Eight ysSrs. The bill
now pendinh, if carefully and wisely
adjusted, may even ontlive the present
century. ThA total amount Of exports,
imports and fe-exports of gold and
silver coin and bullion by the whole
United Statcs in 1880 was $40, ,3s4, 1871 Z;
lin le4Q4l7 .297, geo in 1850, III, ,15l, ,776.
| III the period from 1851, to 1871 they
| were $l,5O9, ,O67 ,633. The committee
are in favor Of ab0lishing the present
charge for coinage at the mint, or that il
be reduced to merely nominal sum.
The British Royal Mint in 1916 re-
duced the coinage charge Of Great
Britain to l I'D sterling (less than three
gold, value $20.67, being less than ONE
! sixth of one per cent; while the Gov.
ernlnent Of France during the last fifty
years has been gradually reducing it;
coinage charge to cover only the actua
cost. 1t now stands at 6 70-lO0 francs
for s'kilogramme" of gold, containing
l3.l00 francs, exceeding by only :
Hifiing fraction one-fifth of one pei
/ cent. The British charge is made still
less blrdensome by the prompt deljv
cry of the coin ia exchange for ths
metal deposited. On the suppositio,
that the other mines of the world, in
clu,ling Australia, have produced Al
amount of bullion equal to those o
4 the United States, and we have durins
the period embraced between the year
1851 and 1871 no less u sum than $3,
100000 600 added to the gold and silve
| in use in the civilized worid.-Iates'
Ocean.
/ There are many evidences pointin:
10 struggle between England AM
Iaussia for the possession Of India
which is likely TO como otf perhap
even within this generation. Ever,
q new avenue Of trade, whether railroaa
Or canal, which is projected In Westcrl
II Asia IL now carefully examined IN il
bearing on this struggle. just I
Il present the project Of the Euphrate
VALLEY railroad il strongly favored i
q England because Of its strategic fmpol
/ | tance lii this anticipated contest, an
III Austrian officer Of high rank,
!, understood to be the ofiiccr. who hold
J ithc highest rank in the Austria
| service, has written . rciIlarkRbI
pamphlet Ia which the power or hefi
i able to hold this line is described as 4
/, factor OF inestimabl6 mportance j
the problem of this gfeq c0sitest.