Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1875-11-26

SELLEk.
New YORK. Nov. 2l.-GOyernOr Tilien
has granted 4 pardon to Sigismunj Sehwah.
convicted in November last IN this city Tor
selling liquor without 3 license.
COINAGE or GOLD AND SILVER.
The annual repor; of the director of mint
shows the coinage As follows Gold S33.-
5j3 $50. silver. $40 90 Sos minor pieces.
S230, 51j total. Si3. sji .70S The deposits
were: gold. SIS $50 ,293; silver. SIC. 800.
GIG Additional vaults are required in the
treasury Offices in various parts of the cOun-
try icr the storage of silver coin in view of
the contemplated resumption of specie
payment The director says The two
years yield Of the mines will, it il probable.
furnish Sufficient silver ~ manufacture all
the fractional currency coin that can be
adyantagcously used in the country. After
the redemption OF the fractional notes the
trade dollar coinage should be continued,
if for no other purpose than to make a
local market Tor silver. The purchases OF
silver bullion from January nth to October
3lst. lS7j, amounted TO So ,3i9. al, at an
average price, with refining charge added
for done bullion, OF one dollar eleven cents
and four mills per ounce standard. the
tpihihS iAAI Va Al ~ rilNtl ttiu' ptink
one dollar twenty-iOur cents and four mills
per standard ounce. The seisnorage, or
gain on its coinage will be thirteen cents
per ounce or about twelve per cent. The
total expense attending the manufacture of
coinage of the last fiscal year - .S5i ,10S
was SsS9. 80, or about sixty per cent of
the expense ol maintaining fractional ear
rency. In tbs estimate the seignOrage re-
allied on the silver and minor coinage
Si36 l0j-had not been considered Tho
proprieiy OF increasing the amount of ten
d0liar gold pieces Is suggested for the con-
siieraiiun OF the secretary OF the treasury.
The director speaks at length of the
cunr.e of gold and silver during the
last three wears, saying monetary troubles
have not been caused 10y Insufficient sup
plies OF gold but by its having been with
held in large sums from circulation. and
the diminished use of silver as money. The
new coinage system OF Germany Is men,
toned a. one ii; the chiei causes. and the
delay in its completion is attributed main
ly to the action Of the ueighboring coun-
tries in practically closing what is expected
would be the best and largest market for
silver. The manufacture OF the new stan
dsrd national coins has already amounted
to about S355, 000, 900. The coins, however,
have not gone into general circulation to
the extent originally expected, for the rea-
son that the Old standard silver coins. which
are inferior in value, continue under the
provisions Of the new monetary law to be
effective money in payments bold has there
fore to a large extent been held in the vaults
OF the imperial treasury, minis and banks.
The gold standard is to 20 into force and
effect throughout the empire on the first
of January, 1876. in accordance with an
imperial decree of September 22nd, 1875,
and which would appear to Indicate the
employment at an early day OF more de-
cided measures than hcretofJre-the with
drawal of the deprecated legal tender silver
coins. W hen the complete withdrawal OF
these deprecated silver coins shall have
been accomplished. gold will enter freely
into the channels Of circulation and money
affairs resume their usual course. The soon-
or the German monetary reform now in
progress il completed, and the bank of
France resumes specie payments. the better
it will be for Germany, France and the
United States. The time fixed for the re-
sumption by France is Jsnnary. 1878. bu.
it is probable il will take place before the
time specified. Whenever the German ELL
pire shall have its great monetary reform
well under way, and Franco sets Tree her
immense specie reserve. the letiye demand
for gold. no doubt. will cease and the
United States may then safely undertake
the acquisition OF sufficient stock Of com
for the resumption OF specie payments.