Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1880-12-10
DEPARTMENT REPORTS
The Superintendent or the MINIS
TelSISome Interesting. Tales
About Coinage.
Commissioner Raum's Review OF In
ter1lal Revenue Receipts An In
portant Paper


tne mint SHOWS tle WORK OF tHc wear per
formed under charge Of the mint
bureauhaS been unusually heavy
The deposits Of gold bullion At the
minis and assay offices have been both
in number and value greater than in
any previous year, aggregating S2S,-
S35,096, and exceeding by nearly So
100000 the highest previous deposit,
that Of 1S6l This gain was not the re
suit of increased deposits but of do
nestle production, of which 50, sol .705
were received rs against over IS $780,
600 for the previous year. The dcpos
its Of plate and jewelry and worn coin
were about $4,000, greater than
in 1879, amounting to 81 So, S34, and
the receipt. of foreign coin and bullion
increased nearly 60,0o0,000, being 61,-
627 ,556 out Of a totalimport of 62,550,-
S37.
The deposits of silver and deliveries
upon purchases, were only exceeded
during the coinage of fractional silver
and crude dollars in - and IS. The
receipts of domestic silver bullion were
$50, 1906; foreign coin and bullion,
S2,2l9.105; plate, jewelry and American
coin, S2SS, 660,0l; total S34,640, 90. 20.
OF these deposits, $50, l41,366 in gold
and S2,514. 235 in silver, wee trans
fcrred or withdrawn from the assay Of
fees or mints, and again deposited,
making the total amount received and
operated upon of both gold and silver,
S1722, 191, 22l. The coinage of gold, al
though heavier than i'll any previous
year, could not keep pace with tho de
posts, and S3S ,46S,S74 Of gold
bullion remained uncoined at the
New York assay office and the
Philadelphia mint at the close of the
fiscal year. The minis, however, aug
mented the circulation Of SS4,370, Ia,
adding S56, 157,735 i'll gold, So ,9f2 49,
in silver and $269,911 in minor coins
The total purchases of silver bullion
during the year amounted to 2,426,
457 l3S standard ounces ut cost of
$24,972 l6l; beng the average pur-
chase of S2,OSl ,ol3 worth of SILVER bull
lion per month. The average treasury
department price Of silver bullion of
the British standard during the year
was 52.7-1Od. The total coinage Of sill
ver dollars has been 81, S47 100; the
amomnt on July |, 1879. was
$7,653,Gf9, and on July l.,
1880, $4,000, 49,; an increase in
circulation during the year, of ST. ,655,-
1885, The circulation was further in
creased up to Nov /, 1880, by the issue
Of SG453, 500; making the total in cir
culaton at that date, S25, 7G3,93l. The.
remainder of the coinage, SIS, 0S4 459,
was ia the treasury; $l9,7S0,2H being
held for the redemption Of silver Ger
iticates. and S2S,3O4,2l for the distri
button of the latter; and Sl2, 19S, sos
was still in the minis The production
Of gold and silver in the United States,
during the fiscal year, is estimated at
S3G 100000 in gold, and $37 200 600 in
silver. 1t is estimated TINT 50 100000
in gold, and Sf,0O0,000 in silver, of
domestic production, together with
S2,500,e00 of gold, and 100000 Of sill
Yer ia L. ,. coin were used in manu-
faetjlres and arts, besides the melting.
up Of plate, jewclry, foreign coin, and
bullion, sufficient to make the total
consumption in the L. 5. $10,000,00O in
gold, and S5,0O0O0 silver The most
interesting portion of the report Of the
diTeetorof minis relates to coin clrcu-
lati0n The estimates starting with
Sl35,Q0Q,o00 in gold, and $5000O00 in
silver }oin, i'm 1873 have been contin-
Gcd 70 Nov. |, 1850. by adding the
yearly coinage. less recoinage, and coin
imports less exports, show an increase
III com circulation for the whole period
IF S240,323.sS ingold, and Sl47 81 ,5l4
IL suNer coin,
The gain Of com III the country and
Of bullion IN the minis since January ],
1879, tho date fixed for resumption
amounts to S221 500 ,42S, ofwhich Sl75,-
7ol,aQ4 i in gold, and sol go .524 in
silver. ON June 80, 1850. the amount
of gold coin in the country Was sos, 95S-
G9l, and in silver coin, $l42, so 900.
These amounts were farther increased
by Nov. /. 1880. by the net coinage and
import of S1s.365, $50 in gold. and So
6S0,524 in silver, making the tota!
amount of L. = coin nj latter date NJ
$527 ,6ol 425, Of which $375,323,ssl was
gold and Sl52, ,5i4 silver.
The minis and ASSAY offices held in
addition bullion which is being coined
as rapidly a. the facilities will admit,
TO the amount Of S1S.55S,Sll in gold
and ST .043. 1861 III silver, making grand
total III coin iii circulation and bullion
~ dIliIlt lbl N'DlIislE't WI VIZ - - 49,
vember. of $Gl2. POS ,G03; S453. So 60 Of
which i> gold. and SIS ,32o9ll silver.
OF the amount Of United states gold
com III the country on November lSt,
S62, i01 III was III the treasury, ~ -
777,Go2 held b. banks and S2oo.379 l3s
in private bonds. OF the silver coin
81 ,0s.l, $50 in standard dollars, and
s24.62a ,4s9 in fractional silver, We're
neld 81 the treasury
The national banks report ~
$50 81 a. the amount Of silver
held 81 them. leaving S15.233,-
$50 in other banks and in gen.
eral circulation By a comparison Of
these figures with the statement made
IN tie director q the mint, on the lst
ofNeyember, 1879 il will be seen that
the treasury gold in reserve had dimin-
i,hed t. the amount Of 81, 153.529 in
coin, bat holds over SIS, 100000 in bull
lion. The silver coin in the treasury
has increased 10 the amount 81 81