The Morning herald., 1875-11-22
HARD MONEY.
A BULLIONIsTs DREAM.

BULLIONIsT's DREAM
tho Money BaEs-Report OF
ks.octOr OF the M1ntS-G0ld,
and RulliOn-Trade Dollars
tho fractional CO1nS-S S0me-
the Dogs can't chaw.
k1yeroN, D. c., Nov. 2l.-The re-
the Director of the Mint for the last
bar has been submitted to the Sccre-
Id shows in detail the operations OF
\ and Assay Offices during the year.
mage was Gold, number of pieces
p, value $3S, ,553 ,965; Silver do,
is, do. $40 ,O7O, 1868; minor do, A.
do. s2S0,s75; total number OF
30, 1871 ,77s; total value, 81, 1854, ,7OS.
uts have also received and operated
h ,456, 800. 81 Gold Silver bullion, and
ctured s23 ,O49, ,s10.47 Gold and Sill
]. s'''''
REFINERY ERECTED.
ktensive refinery has been erected
in operation in the new mint at
ncisco, and the refining capacity Of
v office at New York largely in
At the Philadelphia mint, addi-
lnnealing furnaces have been con-
The coming machinery at the
mint has been duplicated, and the
re now in a very efficient condition.
ssing the coinage OF the trade dol
onnection with the substitution of
ry silver coin for the fractional cur
he Director shows that 1t can in no
erfere with the plan Of redemption,
bge not having the least effect on the
value of silver, as shown by the
price paid for silver bullion.
AFTER THE REDEMPTION
fractional notes silver coins, with the
)n of the trade dollars, can bs Issued
be coinage law in exchange for gold
par. This limitation will be a bar
heir excessive coinage and the de-
(r bullion for that purpose, must
10 or three years be quite small
rade dollar has been well received in
bnd the director thinks If authority
Yen to coin at our western mints,
denominations of silver coins of the
ndard they would no doubt find a
parket at the different ports, and
(y work their way into the interior
Empire. Under the provisions of
section of the of January 18th,
mints have purchased to the S1st
per last, 80, All of
silver BULLION
erage price Of Ill 40 cents per
ounce. The average price in Lon
been at the rate of 112 40 cents
Ptandard ounce the coming
he fractional silver coin being 124
is per standard ounce, the seignior-
|ain to the government on the coin
fractional silver coin will he about
ent.
the first of February 1875 the mints
Pined $7,s2O,9OS in fractional silver
the treasury and mints held on
e 81 800, 900 adding to these amounts
Pge for Nov. which may be set down
poo, would give total of fractional
in in the Treasury and mints on the
December next at 10 million dol
he director treats at some length
BY of redeeming the fractional notes
coin.
faining the fractional currency dur
last year was $l,41O,74G. This
include the expense of handling it.
Farious sub treasurys and deposi-
hich if added would probably show
expense to be equal to about 5per
the annual issue and corresponding
interest on amount of bonds which
'e to be sold to procure, say $780,
gold value in silver bullion which
give silver coins the nominal value
pO, 900.
THE TOTAL EXPENSE
Pg the manufacture of the coinage
last fiscal year $4s,s54,s07, was
Por.about 60 per cent. of the expense
taining the fractional silver currency,
fStlmate the Seigniorage realized on
Ter and minor coinage $436, 1O5 has
considered as reducing the cost of
page, the same being regarded as a
|the Government and not an earning
mint. The director suggests the
IN the trade dollar and fractional
pms from five to ten dollars.
THE FINANCIAL MEASURES
py Germany, France and other
FS'their bearing upon the money dis
Fes OF the last three years are care
FVlewed by the director who states
|enever Germany shall have its great
Nv reform foirIv ,,pdo- UNIV ond