Jamestown alert., 1880-12-14
DEPARTMENTAL.
Operations Of 10. ls. Mints-Tho Revenue
Service.

DEPARTMENTAL.
Operations Of TO-. ls. Mints-Tho Revenue
Service.
Washington Telegram, 4th.)
The annual report Of the director Of the
mint shows that the work of the year per.
formed at the institutions under charge Of
the mint bureau has been unusually heavy.
The deposits Of gold bullion at mints and
assay Offices have Been both in number and
value greater than in any previous year, az
gregating sos, 8,s35,096, and exceeding by
nearly $ao,ooo,0oo the highest previous de-
posit of 1861. This gain was not the result
of increased deposits of domestic production,
Of which $35,82l ,7O5 were received as
against over $38, 100000 the previous year.
The deposits of plate, jewelry and worn coin
were about $3.50, 900 greater than in 1879,
amounting to $1,485.s44, and the receipts Of
creased nearly $eo,ooo, 900, being
$6l, 1927 ,O46 out of total import Of &62,-
$50. 837. The deposits of silver and deliver
les of purchases were only exceeded during
the coinage of fractional silver and trade
dollars in 1877 and 1873. The receipts of
domestic silver bullion were $32, ,132, ,756;
foreign coin and bullion $2,2l9;105; plate,
jewelry and American coin $286, !Ol; q
total of $34,64e,522 70. OF these
deposits $36, Ill 1866 in gold and
$2,574,235 in silver were transferred
or withdrawn from assay Offices or mints
and again deposited, making the total
amount received and operated upon of both
gold and silver $172, ,191, ,22l. The coinage
Of gold, although h heavier than in any previ-
ous year, could not keep pace with tho de-
posits, $3s, ,468874 gold bullion remained
uncoined at the New York assay Office and
Philadelphia mint at the close of the fiscal
year. The mints, however, augmented the
circulation $s4,37o,1 ,144, adding $56,157 ,573
gold, $27,972,437 silver, and $269,97l in
minor ooins. The total pur-
chsses of silver bullion during
the year amounted to 24,262,5n
standard ounces at cost of $24,972,16l,
being an average purchase Of $2.081 ,Ol3
worth of silver bullion per month. The
average treasury department. price of silver
was SO 7-10d. The total coinage of standard
silver dollars has been $72,847, $50. The
amount on July 1, 1879, was 1858, 49, and
on July l, 1880, $19,3O9, ,435, an increase in
circulation during the year of $11,655, ,786.
The circulation was further increased to
November l, 1880, by the issue of $6, ,453,-
856, making the total in circulation at that
date, $35, 763, ,931. The remainder of the
coinage, $48,O84, 459, was in the treasury,
$19, $50, ,24l being held for the redemption
of silver certificates, and $28, 1904, ,218 for dis
tribntion. OF the latter $12, ,19S.5O5 was
still in the mints.
The production of gold and silver in the
United States during the fiscal year is esti-
mated at $3.50, 100000 gold and $37,OOO,OOO
silver. It is estimated that probably 1885,
100000 gold and $4,000, 600 silver of domes-
tic production, together with $25,OOO,OOO
gold and $6,O0O,0O0 silver United States
coin were used in manufactures and arts,
besides the melting up of plate jewelry, for
eign coin and bullion suffi.
oient to make a total consumption
in the United States of $lO,OOO,OOO gold
and 100000 silver. The most interesting
portion of the report of the director of the
mint relates to coin circulation. The esti-
mates, starting with $l35,OOO,OOO gold and
100000 silver coin in 1873, have been con-
tiuued to November, 1880, by adding the
yearly coinage less recoinage, and coin i'm
ports less exports, show an increase in coin
circulation for the whole period Of $240. $685.
08l gold and $147, 7,544 silver coin. The
the mints since January 1879, the date fixed
for resumption, amounts to 1927, ,s99, ,43s, of
which $176, FOL .905 is in gold and $51, ,597,.
500 silver. On June 80, 1880, the amount
of gold coin in the country was $685., ,958 SOL,
and silver coin $142, $4,000 These
amounts were further increased by Novem-
Der 1880, by net coinage and import of
$1e,365,190 gold and $9,6sO,524 silver.
making the total amonot of
United States coin at the latter
date $527, ,601 1926, of which
1915, ,323,S81 was gold and $152, ,272,544
silver. The mipts and assay offices held in
addition bullion, which is being coined as
rapidly as the facilities will admit, to the
amount of $7S,55S,S11 gold and $6.O43, 1867
silver, making grand total of coin in circu-
lation and bullion available for coinage on
the first of November of $612, ,203 ,6O3,
$453, 8S2, ,G92 of which is gold and $685.
32O,9l1 silver. OF the amount of United
States gold coin in the country November l,
$62, ,1O7, ,141 was in the treasury, $112, Ill.,
COZ held by banks; and 5000, ,379, ,l3S in pri-
vate hands. OF silver coin, $47,O94, ,459
standard dollars and 1924 4,G29, ,4s9 in fraction
al silver where held by the treasury. The ma
tional banks report $780,
357. as the amount of silver
held by them, leaving $75, ,233, ,239 in other
banks and in general circulation. By COM
parison of these figures with the statement
made by the director of the mint on the 1st
treasury gold reserve had diminished 70
the amount of $57, ,753, ,529 in coin, but holds
over $78, 100000 bullion. The silver coin
in the treasury has increased in amount
1924 ,348. The banks have increased
their stock of coin to $89,l47,sS4 in gold
and $411 ,O14 in silver, and the amounts in
private hands have been increased by $685.
l79,O3O gold and 9,Os5, 1928 silver.
INTERNAL REVENUE.
The annual report of Gen. Green B. Raum,
commissioner of internal reuenue, for the
fiscal year WAS completed to-dya. After
calling attention to the vast improvement in
the condition of the service, the report
showed that the receipts of internal revenue
for the fiscal year 1874 were $43,449,621, An
increase of So, ,795, ,45s upon the previous year.
The receipts for the fiscal year 1880, in face
of reduction of the tax on tobacco, were
1923, ,981 ,916, an increase of $1O, ,532, ,294.
The receipts of the first four months of the
present fiscal year amounted to $43,7S9, ,43S,
showing an increase over the
corresponding period lsst year
of $3,658.213. In this connection the com.
missioner says: II know of DO reason why
this increase should not be mentioned dur
ing the fscal year go that the total eollec-
tions for the year from internal revenue
taxes at the present ratio would be $685.
100000" Continuing he says: This large
increase of revenue is unquestionably dne
to prosperous times, and there would seem
to be no reasonable probability OF . mate
rial diminution thereof for several years 70
come, but on the contrary probability Of
gradual increase, ,Acertainly upon ratio