New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1874-10-05

the s.ndsrd: Of The coins pound sterling and dc.r.
Ike! the ratio Il four dollar. and eshtyS
az and onehah mills. ManifestIy, therefore the ssock
:1 and sSonifd cents Or about one and
per cent On such basis United States security co s,
cent '' premium, ' since four rue dollars and eighty
cents. plus one and threetenths. gives fonr
sSi and THERE &c Ss %
don should tx par at oil. or Why United States bonds
and e 70 "a
OAR must DO sstsbIisbed, and almost absolutely
rate one would BE- fifteen pounds 's'rliHs equal "
The Director refers at length % the subject o. the
ana Ssss should
vance i1 the value Of silver or y the s1G
pay out ct it's nominal value at about the same
Sy Il. II Ss1%
appears from Texas and the Pacific coast.
dissppssrsncs in the SewYork %ariet o. the differences
They would next be sent to the Pacific coast and TsIs
IL such amounts 70 compel SIS1iso s1S
law limiting the legal tender Of such eolns
70 After time ,hs S,o., wSS'a in S Ssssr
sections Of the Union. asS as the paper money APP
preached parity with gold. gradually eLpel the rae,
States lesatender notes. will OF course become a. 70
subsidiary silver, the superior currency Whenever the
superior currency silver before the green
b:cthad actually reached 2 parity with gold ..
The provision OF the Coinage Law, Which authorized
for coinage by the Mint at philadelphia, and Assay
ONCE at NewYork expires by ITS own Limitation on ths
l2th Of February next, after which subsidiary coins
gold coin at par. The provision OF the law should not.
In the opinion OF the Director, be reenacted or ex
tended The issue OF subsidiary and token coins.
should be entirely under the control Of the Gov.
ernment. and kept within such liinit As yll
protect the public from the Inconvenience and loss
which would attend redundant issue. Whenever sub
description are issued. two things are OF vital
Importance and should he observed Fts.
proper Limitation as TO the amount for
which they are to be a legal tender second. tho
amount Of issue limited to tho Of the pub
lie for change The latter Is the Only purpose FOR which
such coins designed TO be used, and this can be
enectually attained by their issue only In exchange
at par for coin OF the standard metal which IN
this country Is gold The restriction 10 the mode OF
issue applies particularly to the time when gold and NOT
notes, based upon debt now shall form the basis of
Government may, under favorable circumstances, pay
out silver coins It's pleasure aud convenience 10 the
extent required to meet legitimate demands for the
same.
The Director further In his report speaks Of mont
tary standards annual assay and coins, spectre
scOpio assaying and other Interesting subjects. Tue
30th June last. Sl67 00OOcO The estimate shows gain
In specie aud bullion In the last two or vs. 0o6
The OF gold and silver coin aud bullion in ths
world estimated at from ten 10 twelve thousand nil
lions.
The present rate OF production IL Silver. ssOod 0o
and gold $780, 100000 tue two together being an annual
addition OF about aud half per cent To the eAsung
stock OF specie. This last point Is elaborated n tho
report.
The Director states that the charges recently made In
q NewYOrk paper against the San Francisco Mint have
Of that establishment conducted in strict con
formty with the law