The Milan exchange. (Milan, Gibson County, Tenn.) 1874-1978, 1879-11-27

The United States Mint.
WASHINGTON, November 10.

The report of Horatio c. Burchard,
Director of the Mint, was submitted to
the Secretary of the Treasury yester-
day, and shows the operations of the
United States minis 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 81, JIG, 654, OF
which S42, 254, 1856 were gold, and $685.
925, 497 silver OF the above amounts
I S3S, $40, 705 of gold and $26, 934, 72S OF
silver were of domestic production,
S19S, 0S3 of gold and S10,607.79 of sill
yer were United States coin, S1,069, 796
of gold and S1,072. 919 of silver were of
foreign bullion, 81, 496, 8l9.1 of gold
and S698.632 of silver were of foreign
coin, and S937,751 of gold and S20S, 6O9
of silver were of plate and other manu-
featured articles.
The amounts of gold and silver
separated in the refneries of coinage
minis and assay Office at New York
were $50, $40 of gold and S10,6S7,-
526.97 of silver. The coinage during
the year amounted to S68, 312, 592,
and consisted of 2,759,421 pieces of
gold, of the value of S40,9S6,9 12, and
q, 22S, $50 pieces of silver, of the value
of S37, 227,8 1872, and of minor coins
$500, 200 pieces, of the nominal value
of 1877, 1913.
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
year there has been 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 81, 227, 800 were coined during
the year, and the total coinage to No
vember l, 1879, has been S45, 206, 200.
The total amount of subsidiary coin
issued since the passage of the Resump-
ton act was S42,974,931. The full
amount coined was S43,994, 931, but
S1,020,000 in dimes was recoined into
pieces of larger denomination at the
mint at San Francisco.
Bars manufactured, fine and import
ed, amounted to 500, 022, GA, of which
S12, were gold and S9,O45, 1902
silver. Total amount of gold bars,
So, 976,S12; total amount of silver bars,
S9,O45, SO2.
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
lghtness 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 them
to retain, or, as now, draw from abroad,
gold needed for monetary use, and that
commercial disaster and depression,
threatened OF 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