The Wheeling daily register. [volume] (Wheeling, W. Va.) 1864-1878, 1875-11-22
Report eff Director Of MInts.

w ASHINGT0Nt NONemOeT ZL'- L AS
annual report of the Director of Minis
shows q coinage: GoA S33, 3,55S, ,e65; sill
yer SlO,O7O, 1868; min& pieces $3.50, ,S75.
Total S53,854708. The deposits were:
Gold, $50, 500, ,293; silver SIG, 07O, 626. Ad-
dtional vaults are required in the Treas
ury offices in different parts of the coun-
try for the storage OF silver coin in view
OF the contemplated resumption Of
specie payment.
The Director of the Mint says the
Weld of the mines will il is probable,
furnish sufficient silver to manufacture
all the fractional currency coin that can
be advantageously used in this country
after the redemption of the fractional
notes. The trade dollar coinage should
be continued, if for no other purpose
than to make local market for silver.
The purchase of silver bullion from
january 14th to October 3lst, 1875,
amounted to SS,349,7 747, at an average
price, with refunding charges added, for
done bullion of one dollar, eleven cents,
and four mills per OuAce, the standard
coinage rate of fractional silver COINS
being one dollar, twenty-tour cents and
four mills per stone or ounce. The
Seiquorage or gain on its coinage will be
thirteen cents per ounce or about twelve
per cent. The total expenses attending
tn manufacture of coinage of the
last fiscal year was $43,Sji,7O8
which was $889,570, or about sixty
per cent of the expense of
maintaining fractional currency. In
this estimate the seiquOrage realized on
the silver and minor coinage,$436, lO7, has
not been considered The propriety OF
increasing the amount to $40 gold pieces
is suggested for the consideration of the
Secretary OF the Treasury. The director
speaks at length of the course OF gold and
silver during the last three years, saying
the monetary troubles have not been
caused by insufficient supplies of gold,
but by its having been withheld in large
sums from circulation and the diminish
ed use of silver as money, They new
coinage
system of German
is mentioned as one of the chief causes
in the delay. It's completion is attribu-
ted mainly to the action of neighboring
countries on practically closing what was
expected would be the best and largest
market for silver. The manufactures OF
the new standard national coins have al
ready amounted to about $4,000 600
The coins, however, have not gone into
general circulation to any extent, aS gen
orally expected for the reason that the
old standard silver coins, which are IN
teror in value, and continue under pro-
vision of the new law to be effective
money in payments. The gold has there
fore to a great extent been held in the
Imperial Treasury, the mints and banks.
The gold standard is TO go into effect
throughout the entire Empire on the lst
of January, 1876, in accordance with the
Imperial decree of September 22d, 1919,
and which would appear to indicate the
employment ut an early day of more de.
cldcd measures than heretofore for the
withdrawal OF the deprecated legal
tender silver coins, When the complete
decentralization or withdrawal of these
deprecated SILVER coins shall have been
accomplished, gold will center freely
into the channels of circulation.
and the money offices resume their usual
course. The sooner the German none.
tary reform now in progress is completed
and the banks of France resume spccl"
payments, the better for Germany,
France and the UnitJd States. The time
fixed for resumption in France is 1878,
but it is probable that it will take place
before the time specified. Whenever
the German empire shall have its great
monetary reform well under way and
France set free her immense specie re-
serve the active demand for gold will,
no doubt cease, and the United States
may then safely undertake the acquisI
tion OF n sufficient stock of coin for tn"
resumption of specie payments.