The Redwood gazette. [volume] (Redwood Falls, Minn.) 1873-1940, 1879-11-27
The United States hints.

'.5 WARRINGTON, November 10
The report Of Horatio G. Burchard,
Director of the Mint, was submitted to
the Secretary of the Treasury yester.
day, and shows the operations of the
United States mints and assay Offices
during the fiscal year ended June 80,
1879.
During the year the total deposits Of
gold and silver, including silver pur-
chases, amounted to $71,179, 654, Of
which $42, 1854, 1856 were gold, and $685.
1926, 497 silver. Of the above amounts
$38, $40, 7O5 of gold and $26, 934, 728 OF
silver were of domestic production,
S19S, 0S3 of gold and s1O,6O7.79 of sill
yer were United States coin, 81, O69, 796
of gold and 81, O72. 919 of silver were OF
foreign bullion, 81, 498, 1871 of gold
and $698. 632 of silver were of foreign
coin, and 1887. ISL of gold and $2O8, cog
of silver were of plate and other manu-
featured articles.
The amounts of gold and silver
separated in the refineries of coinage
minis and assay Office at New York
were $2O,759,54 of gold and $40, 687,-
526.97 of silver. The coinage during
the year amounted to $68, 312, 592,
and consisted of $780, 21 pieces of
gold, of the value of S4O,9S6, 912, and
q, 228, $50 pieces of silver, of the value
of S37, 227 1889, and of minor coins
9,62O,2O pieces, Of the nominal value
of $97, 1893.
The actual use of gold as part of the
circulation consequent upon the con-
vertibility of United States notes into
coin, it was anticipated, would create a
demand for the smaller denominations
of gold coin, and during the last fiscal
year there has been a larger coinage
ofeagles, half-eagles and quarter-eagles
than in any preceding year during the
period of sixteen years. The coinage Of
eagles and half-eagles will be continued
until the demand is satisfied.
The silver coinage has been almost
exclusively Of standard silver dollars,
of which "a, 227, 500 were coined during
the year, and the total coinage to No
The total amount of subsidiary coin
issued since the passage of the Resump-
ton act was 81, ,931. The full
amount coined was S43, 994, 931, but
81, 100000 in dimes was recoined into
pieces of larger denomination at the
mint at San Francisco.
Bars manufactured, fine and import
ed, amounted to 1929, O22, GA, of which
$12,976,812 were gold and SO, 045, 1902
silver. Total amount of gold bars,
$12, 976. 812; total amount of silver bars,
SO, O45, 1902. u........ -.....
The Director thus closes his report:
"The true policy of this country is such
conservative action as will tend to bring
the values of gold and silver to their
former relations, upholding one and
preventing the appreciation of the 9th
er, until it can be determined whether
commercial nations are willing that
both metals should be yoked for equal
monetary service. But in case the use
of silver as money must be aban.
doned, it is gratifying to believe
that the vast resources of agri-
culture and mineral wealth, pres.
ent development of mining and
manufacturing interests. and facilities
! for inland commerce, the comparative
ightness of taxation and relief from
heavy foreign Indebtedness, and, above
all, the productive genius, industry, in
ventive skill and capacity of the people
of the United States, will enable then
to retain, or, as now, draw from abroad
gold needed for monetary use, and that
commercial disaster and depression
| threatened or feared, as the result Of
restricting the commercial world to one
metal, are more likely to fall upon ma
tons that initiated and are responsible
| for the movement"