Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1874-10-22

The distribution of bullion deposited
and purchased, including receipts, was as
follows Philadelphia mint, So, 947 ,2S2 !;
San Francisco, $24, 934,7S9; Carson
$5,0SS, 1885, Denver, $9S9,713; assay
office, New York, $24, 900,72l; assay
office, Charlotte, N. c., $S,763; assay
office, Boise City, $ll4,25S
The increase over the operations of
1872 is as follows: In gold bars operated
upon, about 115 per cent; silver operated
upon, 397; in gold coinage, 12l; silver
coinage, 1863; fine gold, 1863; fine gold
bars, 226; imported gold bars, $40; fine
silver bars, 619, and imported silver
bars, 60.
The loss by abrasion was but little over
one-h,lf of l per cent. The renovation
of gold coins is now about complete ex-
cept as to those in circulation on the Pa
citic coast The Director recommends
the withdrawal and renovating of these
| before the resumption of specie pay
ment During the past year the reduc-
ton in the weight of coin for fraudulent
purposes has not been carried on to any
extent.
Applications have been made for the
execution Of certain coinage by two for
eign Governments, and are now under
consideration by the proper authority.
A portion of the funds of the Treasury
| Department las been kept in the form of
stamped mint bars which can at any time
be converted into half and quarter eagles
should the eXigencies of the people re-
qulre rnem. The most of the gold coin
age in circulation at present consists OF
double eagles, but should specie payment
be resumed coins of "a smaller denomina-
ton would be required. The Director
says that the denominations of gold coin
are too numerous and recommends the
discontinuance of the three-dOllar piece
and the gold dollar, the former because it
SO nearly approXimates the quarter eagle
in value and the latter because it suffers
more from abrasion than the larger
pieces
The coinage of trade dollars during the
fiscal year amounted to 50, 5SS,900, the
greater portion of which were exported
to China, where they found ready mar
ket and grow in favor for trade and eX-
change purposes. The mint had not been
able to meet the demand for these coins
but the increased capacity of the new
mint at San Francisco he thought would
soon enable the department to meet all
requirements.
TO remove the difficulty of making
change in Texas and on the Pacific coast,
where the five-cent nickel-copper coins
do not circulate, the Director recon-
mends the issue of twenty-cent coin.
The Director refers at length to the
subject of the course of silver bullion,
and states that the Government can at
any time, unless there should be ma
terial advance in the value of silver, or
depreciation in the gold value of the
| paper dollar, supply itself with such an
amount of subsidiary silver coin as it
may require to pay out at its nominal
value at about the same terms as a CORE
spending sum in paper currency could be
obtained 10y the sale of gold coins. The
demand for the coins appears to come
from Texas and the Pacific coast, where
they circulate as money. The first
effect of any considerable issue of sub
sidiary silver coin would be the disap-
pearance in the New York market of the
| difference between the bullion and mar
ket value of these coins. They would
next be sent to the Pacific coast
| and Texas in such amounts as to compel
merchants and Others to avail themselves
OF the provisions of law limiting the legal
| tender of such coins to five dollars At
ter time they would begin to enter
more or less into general circulation in
other sections of the Union, and, as the
paper money approached parity with
gold, gradually expel the fractional
notes.
The amount of specie in this country
is stated to be on the Both of June last
| $167, 100000. The estimate shows gain
in specie and bullion in the last two
fiscal years Of $3S500,000 The amount
of gold and silver coin and bullion in the
world is estimated at from ten to twelve
thousand millions. The present rate of
production is-slver SS0,000,000, and
gold $500, 600 600; the two together be-
ing an annual addition of about l. per
cent. to the existing stock of specie.