The Andrew County Republican. [volume] (Savannah, Mo.) 1871-1876, 1875-11-26

A~SIIINGiTON. Nov. 2l.-lhr annual re-
port of the Director of the Mint shows the
following:
Coinage Of ,'53 ,%j
Coinage of 10 ,0In ,3iS
Coinage OF minor pieccs.............. 73O, 80
q 50 ,7OS
The deposits were H. follows:
Gold 30. 2a3
5000 1925
Additional vaults are required in the
Treasury offices in various parts Of the coun-
try, for the storage of silver coin. i'll view of
the contemplated resumption Of specie pay
ment>. An addition Of aSSaying facilities to
the New Orleans mint is suggested.
The Director says the two Years WELD of
mines will. it is probable, furnish sufficient
silver To manufacture all the fractional cur
rency coin that can be advantagcou>ly used
in the country after the redemption of
fractional notes. Tn" trade dol
lar coinage should be continued,
if for no other purpose than 70 make Il local
market for silver.
Tn purchase of silver bullion from jan
uarv If to October 81. $50. amounted la
SS,349. "a, at IN aycrag" price, with refining
charge added for bullion. of one dollar
eleven cents and four mills per ounce, the
standard coinage rate of fractional silver
coins being one dollar twcnty-fOur rents and
w mn l'l NlhIiNi.llh ~ . Nv -ilii I'll
the coinage will he thirteen cents per ounce.
or about II per cent.
The total expenditure attending the manu-
facturc of coinage of last fiscal year (S43,-
S5f, 10S), was $3.50, $40. or about 80 per cent.
of the Expense of maintaining fractional cur
Tcncy. In this estimate. the >~ci~nioragr
realized on the silver and minor coinage.
~. CID. has not been considered. The pro-
prirty of increasing the amount of ten dollar
gold pieces is >uggcStcdfOrthc consideration
of the Secretary of the Treasury.
The Director speaks at length of the course
of gold and silver during the last three wears,
saying the monetary trouble have not been
caused by insufficient supplies Of gold, but
bv its having been withheld in large sums
from circulation, and 10y the diminished use
of silver rs money. Thc delay III the new
coinage system of Germany is mentioned as
one of the chief causes of the paucity, and
the delay III is completion i attributed
mainly to the action OF ncighhOring cOun-
tries in practically clO>in" what ii was eX-
pected would be the best and largest market
for silver. The manufacture of the new
standard of national coins in Germany has
already amounted to about $2S. 300, 0O0.
The coins, however. have not gone into
general circulation to the extent originally
expected. for the reason that the old stand
ard silver coins. which are inferior in value.
continue under the provision of the new
monetary law 10 ne tIltctlNc money Ill pay
mcntS Gold has. therefore,, to a large cX-
tent been held in the vaults of the Imperial
Treasury. the minis and the banks. The
gold standard is to 90 into effect throughout
the entire empire III the first of January,
1876, III accordance with the imperial decree
of Sept. -. 1870. which would appear to i'll
dictate the employment at an early day Of
more decided measures than heretofore for
the withdrawal of he deprecated legal tender
silver coins. When 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 sooner the
German monetary reform, now in progress.
is completed and the Bank of France re-
sumcS specie payments. the better ii will be
for Germany, France and the United States.
The time liked for the resumption i'll France
is January, 1873, but it is possible it will take
place before the time specified. Whenever
Germany shall have its great monetary re-
form well under way and France sets free
her immense specie reserve, the active de-
mand for gold will no doubt cease, and the
United States may then safely undertake the
acquisition of a sufficient stock of coin for the
resumption Of specie payment.