New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1873-11-04

This beinp the first annual report of the Director
of the Mint under the Coinage act, he gives short
outne of the history of the Mint and coinage, and
refers briefly to various questions connected with
metallic money i'll the course of which he says:
Having concluded. after the examination OF the sub
loot mar The substitution OF raised the place
of the present reeded edge would prevent In great
measure the splitting, fitting and illng OF inc COINS or
fraudulent purposes, I referred the subject Of the
preparation of the necessary machinery for that pur
pose To The officers 81 the Philadelphia Mint also 10
private graver, and they now engaged upon the
work In connection with This question called Tor
report OF the result OF some experiments Whlch were
made Philadelphia IN the year 1902 which had Tor
their object the better protection OF the gOu cons ny
making them thinner and slightly cOncaYe on both sides
An elaborate report upon the subject from the assYer
at Philadelphia has been received. The question VIII be
further considered ana the necessary experiments ade
determine what measures Will be most likely To al
ford complete protection possible against fraudulent
reduction OF the weight o. the coins.
Gold coin being the standard or measure OF values,
against fraudulent dimnHtion matter Of the utmost
Importance Sufficient time should therefore be taken
should be made without due consideration, aud the adj
vantages of which are not clearly deterniIed. ,,
the provisions OF previous act about s2O1O0 OF gold
coins were melted, OF which Sl402550 were received
during the fiscal year The recoinagc OF me balance has
been Going on II is estimated that OF the cou now in
rc0uire 10 he renovated. The difference between the
nominal and intrinsic value OF the amount received was
about 1893 The reeoinage emDrdceu nearly az the
abraded gold coin IN the country othet man ihose
in circulation on the Pacific coast ana which, IL Is est-
Proper provision should be made for calling in the
light stu IN clrcudtOn iclalI9 III Wow
general reservation which mas been made. The loss
from natural abrasion should be betrayed by the Gov
ernment and bY the last holder Tor the reason mat
il occurred while the coins performing the junction
of a circulating medium. This principle mas been fuly
recognized in the recent coinage laws OF the German
Empire. Denmark Sweden, and Norway.
Provision should OF course be made for excluding
coins which have been artcialy reduced IN weight
Violently Injured and the reception or worn coins should
confined 10 the ,lnts, where an necessary ecau-
tions against receiving frauduleny reduced coins can
be ehectually observed
In explanation Of what otherwise might be considered
an unusually large nuWbcr OF pieces cnnd 10 be below
the prescribed limits Of ABRASION II should be stated that
fppre has not been rCeouage or gold in this country
sipce that which followed the changes Of standard IN
1867 ana that In tie very large exports o coin since The
susVeusOn OF specie payments in 1861 the uDWOrn coin
were selected for that purpose ana tue Eight or worn
pieces excluded
The Philadelphia stock market is unsettled; Penn
sylvana Skies 1915 Philadelphia and Erie Railroad,
u; Reading Railroad, 500; Pennsylvania Railroad,
A. Gold 1919.