The daily Cairo bulletin. (Cairo, Ill.) 1878-1???, 1878-07-27
SILVER DOLLARS.
PROGRESS OF COINAGE AT TIE
VARIOUS MINIS.

ABUNDANCE OF STANDARD MONEY READY
NEXT MONTH FOREIGN COINS, THEIR VAL
uE AND HOW TO DISPOSE OF THEM.
WASHINGTON, July 25.---In consequence
Of the extreme heat during the first part of
the present month the mint at Philadel.
pima was not able to make the usual mum.
Der OF silver dollars, and the supply Of silver
bullion at the San Francisco and Carson
City minis having been quite limited, the
silver dollar coinage for July is not expect.
ed TO exceed S2,000,000. A fair supply of
silver bullion was purchased yesterday,
however, for delivery at the San Francisco
and Carson City minis. Therefore the
silver dolla" coinage for August will, it is
believed, be between three and four
million dollars. The secretary of the treas
ury has completed all arrangements for fur
nishing United States depository banks
| with standard silver dollars. He has also
notified all national banks of this fact the
location of the depository banks and of the
process necessary in order to obtain stand
ard silver dollars for the accommodation of
their customers. There can now be no diff
ticulty in the way Of farmers and Others
| obtaining this currency instead of one and
two dollar bills for the purpose of moving
crops and all other legitimate products
unless such obstacle is made by the banks.
In a letter to the director of the L 8.
mint, dated the 10th inst, Freer Hezog,
the celebrated Swiss financier, states that
the tables Of Sir Hector Hay, which the
| English silver commission insists are cor
rect, are incorrect in some particulars. He
| says that the annual production of gold is
placed too low, and that the figures as to
the German production of silver are also too
low. The latter Sir Hector places at &C.
| 100000, whereas, according to Mr.. Herzog,
the production during 1874 actually reach.
ed 3O,OOO,00O francs. He adds that the
principal error OF the day was in taking the
export OF the Australian continent AS the
actual production of gold there in 1875,
emitting the coin which went to the Mel.
bourne and Sidney mints He also omitted
the gold production of Nova Scotia, New
Zealand and British Columbia.
FOREIGN COINS.
The following circular has been issued
iVi NiiN vi GENERAL pubic,
TREASURY DEPARTMENT,
OFFICE OF DIRECTOR OF THE MINT, !
WASHINGTON, July %, 1878.
In consequence Of the number of maui.
ries received relative to the value of the
new silver dollar and the terms at which it
is received at the minis, the following in
formation is furnished;
Snctinn DrS1 ro,,;soJ e+,,,.o, e Al
United States declares that mo foreign gold
or silver coins shall be n legal tender in the
payment of debts" The Mexican dollar
therefore, has only valuation as bull
lion which depends upon the price of sill
yer. AT the present price of sill
yer bullion it is worth about 0Ois
cents in gold per piece. Its circulation in
the United States is OPTIONAL and at what.
ever value may be agreed upon. The
United States trade dollar also is not
legal tender, and therefore has only
bullion value. The standard silver dollar,
being legal tender for all debts, public
and private, is received at par at all gov
eminent offices in payment of dues, differ
ing in this respect from the Mexican
and trade dollar, which are not received.
The Mexican dollars, as well as all
other foreign silver coins and United States
trade dollars, are purchased at Philadel-
phia and the assay office at New York at
the equivalent of the London rate for sill
yer bullion on the day of purchase, less
one-half cent per ounce of fine
silver. All silver coins so pur.
chased are melted and assaycd and the sell
er paid for the fine silver contained in the
standard silver dollars. All parties desir-
ing to sell foreign silver coins or trade dol.
lars to the government on the above terms
will send them at their own expense to the
of the mint at Philadelphia
Or Of the assay office at New York. The
Express charges on silver dollars sent in re-
urn also to be paid by the seller. All cor.
dependence relative to silver coins 50 sent to
Dc addressed to the superintendent of the
mint or assay Office to which they are for
vardcd. The following table shows the
bullion value in cents and tenths of cent
II United States legal tender coin of
Mexican silver dollar of full legal weight
md tineness at various London quotations
or silver bullion, calculated ut the par of
xchange-4sG G5-l00 to the pound stcr.
ing:
|