The New York herald., 1876-12-06

AtuoE Coiua.. ZUU, sou
This was an increase the coinage OF the pre-
codns year Of $4 997 in gold, and So 056 l34 IN
silver Since the passage Of the appropriation bills
providing Tor tho support OF mints these institu
tions have bccn TO their fullest capacity In manu-
iacturng silver coin Tor the redemption OF fractional
currency, In addition gold and trade dollar coinage
SILVER COMING.
Durlng the months OF August aud September OF the
current year the coinage OF silver amounted 10
$sSos 2l0 In subsidiary coin and 81 OS2 200 trade
This by the heaviest silver coinage or any cor.
responding period OF time In the history OF the mint
rses. silver coinage 10 any year preceding the
so.o77s7L
Should any laws be enacted at tho approaching ses-
sion oi Congress contemplating The issue OF silver In
amy other mode than redemption of fractional
currency and in exchange for gold CON- tho necessity
oil providing ior the coming 0 sils ut New Or.
leans Mint Is respectfully submitted That institution
could be put in condition Tor such coinage in about
three months and at expense OF about $75 O00 In
addition to the regular coinage operations there
manufactured at tho Philadelphia Mint l,SG4 medals
COINS FOR VENEZUELA
In accordance with request made by the Venezuelan
government and in conformity with law prcpal atoms
have been made ut tho Philadelphia Mint 10 strike Tor
that government the OF $780, 900 in MINOR CONS
OF copper and nickel alloy. During tho year preparx-
tons have been made Tor fitting up and opening tho
nssay office ut Helena Montana or ne and ussa "
ing bullion, and also the Mint New Orleans an
assay Office for the same purposes.
From the most authentic sources OF information
which could be procured II has ascertained that
the domestic production and silver Tor tho fiscal
year was about SS5,2.O0O0, OF which amount
$40, $50, 900 were gold, aud S3S, SOC, 900 sIvcr.
LEGAL TENDER SILVER DOLLARS.
The Director devOtes the principal part or his report
to rcvew OF the several propositions Tor the coinage
OF legal tender silver dollars under double standard
He says that the decline III the value OF silver aud
the approach OF tho time fixed by law for specie re-
sumption has led to various propositions the resto
ration Of the silver dollar OF 4l2>s grains, with
at fA1 rnfn and 1iptito MI
these propositions, adopted would mako the rcla-
tive value Of gold 10 silver III legal tender coinage
10 ~, very nearly. dollar OF 400 Sl00 grains,
which would correspond exactly 10 the ratio OF 10
IT, and one to represent the ratio OF to l5, havo
also been proposou
The Director recommends not only that tho legal
tonder OF silver coins DC increased to $O but that
aud after tho resumption OF specie payments these
coins receivable by AT the Treasury Of tho
Unitcd States and It's principal oIiccs in pay
ment OF all dues except duties on Gus
toms He also recommends that tho trade
dollar be coined exclusively on tho government 3
account ana be made a legal tender 10 the Of
$50 or $780, 1t already valuable trade CON- and II
banks better 10 stock themselves with specie, and
other ways prove useful addition TO the circulation
The special value which this coin possesses for export
70 China would operate TO prevent redundancy, and
any undue withdrawal could 10 replaced by coinage
the mints.
SILVER coin IN GRsAr BRITAIN.
Tho silver CONS IN circulation In Great Britain are
stated by competent authority 10 be f20 000 equal
to nearly 100000 O00 Tho Director thinks that II the
Silver Coinage laws should be amended as suggested
an amount fully equal that sum could DO advan-
tageousy employed in the ordinary money
transactions of tho people Of the United
Statcs. Further than this the Director says,
II Is apparent cannot 90 unless prepared 10
silver AS tho money standard and deprive the
country for indefinite period OF the unquesonabe
advantages Of n gold currency. Whether IN such a
silver coins would actually circulate moro ex-
tcnsvcly than under the present system. amended AZ
recommended may well be doubted. Silver being
less convenient 70 handle and transport than gold.
paper money would have to be employed 10 q
much larger extent thnn under o gold standard
with silver subordinate and In all transactions for
which IL is suitable. For resumption on gold basis
tho country has already stock OF that metal,
ing to about $3.50 700 OOO which Is half the amount
required for that purpose. and the annual domestic
production OF that metal exceeds that OF silver Of the
latter metal there probably than So 000
tho country exclusive change money plate AMI other
manufactured articles We should not have any more
difficulty In retaining gold product than that o
silver. and either or both Will bo exported whenever
there are foreign balances which cannot be adjusted
In other way. II double standard is to DO
tablshed, basis which will practically make sil-
tho actual standard, the question to tho
source from whonce tho necessary supply OF silver s
to De derived
The annual silver product Of mincs. ovon ut the
increased rate of last years production. and which
10 probable will not be permanently maintained, would
be quito insufficient for the purpose.