The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1880-12-09
DEPARTMENTAL.
Operations of 10. rs. NIints-The Revenue
K. !. L
2 Washington Telegram, 4th.

formed at the institutions under charge OF
the mint bureau has been unusually heavy.
The deposits OF gold bullion Of mints and
value greater than in any previous year, ag-
gregating $98,S35,O96, and exceeding by
nearly $3O,0OO,Oo0 the highest previous de-
post of 1861. This gain was not the result
OF increased deposits of domestic productions
of which $35,821, 7O5 were received as
against over 1888 800, 900 the previous year.
The deposits of plate, jewelry and worn coin
were about $250,OOO greater than in 1879,
amounting to $1,485,s44, and the receipts of
foreign coin and bullion in
creased nearly $60,OOO,OOO, being
$61 1927 ,O46 out Of a totel import of &c.,
$50. S37. The deposits of silver and deliver
les of purchases were only exceeded during
the coinage of fractional silver and trade
dollars in 1877 and 1878. The receipts of
domestic silver bullion were $32, 1872, $50;
foreign coin and bullion So. 219;1O5; plate,
jewelry and American coin 1886. 66O.O1; q
total of 1884, 640, 522.79. OF these
deposits 1886, 1866 in gold and
1884, 35 in silver were transferred
or withdrawn from assay Offices or minis
and again deposited, making the total
amount received and operated upon of both
gold and silver $172,191,221. The coinage
of gold, although heavier than in any previ-
GUS year, could not keep pace with the de-
uncoined at the New York assay Office and
Philadelphia mint at the close Of the fiscal
year. The minis, however, augmented the
circulation $84,37O,144 adding $3.50, 157 ,573
gold, $27,972, 437 silver, and $269,971 in
minor coins. The total pur-
ohases of silver bullion during
the year amounted to 24,262,571
standard ounces at cost of $24,972, 161,
being an average purchase of $2.081, O13
worth of silver bullion per month. The
average treasury department. price of silver
bullion of British standard during the year
was 50 7-10d. The total coinage of standard
silver dollars has been $72,847,7 $50. The
amount on July 1, 1879, was 81, 653, 743, and
on July I, 1880, $19,309, 1885, an increase in
circulation during the year Of $11,655, 1856.
The circulation Was further increased to
November l, 1880, by the issue of $685.
$50, making the total in circulation at that
date, 1856, 763,931. The remainder of the
coinage, 1904, 459, was in the treasury,
$19,78O, 241 being held for the redemption
of silver certificates, and 1928, 3O4, 218 for dis
tribution. Of the latter ST., 198.5O5 was
still in the minis.
The production of gold and silver in the
United States during the fiscal year ia esti-
mated at $3.50, 100000 gold and $751;, 100000
silver: 1t is estimated that probably $685.
100000 gold and 81 600, 600 silver of domes-
tic production, together with $25,0oO,o
gold and $6,O00,OOO silver United States
coin were used in manufactures and arts,
besides the melting up of plate jewelry, for
eign coin and bullion sufi-
oient to make total consumption
in the United States of $lO,OOO,OOO gold
and 5000, 900 silver. The most interesting
portion of the report of the director of the
mint relates to coin circulation. The esti-
mates, starting with $135,0OO,OOOg gold and
100000 silver ooin in 1873, have been con-
tinued to November, 1850, by adding the
yearly coinage less recoinage, and coin i'm
ports less exports, show an increase il coin
circulation for the whole period of 1910, $685.
081 gold and $147,277,544 silver coin. The
gain in coin in the country and of bullion in
the minis since January 1,1879,the date fixed
for resumption, amounts tt. 1927, 399 ,43S, of
which $176, 701 ,905 is in gold and $51, 597,-
500 silver. On June 80, 1880, the amount
of gold coin in the country was 1858, 958, G9l,
and silver coin $142 ,597, O2O. These
amounts were further increased by Novem
Der 1880, by net coinage and import of
$16,365,19o gold and $9680,524 silver,
United States coin at the latter
date $527,6Ol,425, of which
$s75,323,ss1 was gold and $l52,272,544
silver. The minis and assay Offices held in
addition bullion, which is being coined as
rapidly as the facilities will admit, to the
amount of $7s,55S, 811 gold and $6.O43, 1867
silver, making grand total of coin in circu
lasion and bullion available for coinage on
the first of November of $612, 1908 sos,
$453, $4,000 of which is gold aud $685..
320,911 silver. OF the amount of United
States gold coin in the country November
&c., 107, III was in the treasury, $112, IT,
Coz held by banks; and 5000, 1919, 1873 in PR
vate hands. OF silver coin, $47,OS4, 459
standard dollars and 1924 ,629, 4s9 in fraction
al silver where held by the treasury. The ma
s ssona' =. SanSs Tho report enan+ 49, 49,,
held by them, leaving ss75,23S, 239 in Other
banks and in general circulation. By com
parison of these figures with the statemen
made by the director of the mint on the Is
of November, 1879, it will be seen that tn
treasury gold reserve had diminished Z
the amount of $685. 29 in coin, but hold
over $78,O0O,OO0 bullion. The silver col,
in the treasury has increased in amour
$21, 1924 ,34S. The banks have increase,
their stock of coin to $89,147, 1884 in gol
and $411 OLA in silver, and the amounts i,
private hands have been increased by $38,
$4,000 gold and $9,O85,S2S silver.
INTERNAL REVENUE.
The annual report of Gen. Green B. Raun
commissioner of internal reuenue, for tn
fiscal year was completed to-6ya. Afte
calling attention to the vast improvement il
the condition of the service, the repo1
showed that the receipts of internal revenu
for the fiscal year 1874 we're $40, 449, 621, q
increase of s., 795, 458 upon the previous yea
The receipts for the fiscal year 1880, in fac
of a reduction of the tax on tobacco, wei
$123,981,s 16, an increase of $40, $50, 294
The receipts of the first four months of ii
present fiscal year amounted to $4s, 7s9, 49,
showing an increase over tt
corresponding period last YET
of $3,65S.213. In this connection the con
missioner says: ~ know of no reason VII
this increase should not be mentioned du
ing the fiscal year so that the total cole,
tions for the year from internal reven,
taxes at the present ratio would be 1926
100000" Continuing he says: This lare
increase Of revenue ia unouestionablv dr.