The true northerner. [volume] (Paw Paw, Mich.) 1855-1920, 1880-12-10


The annual report Of the Director OF the
Mint shows the work Of the year performed al
the institutions under charge of the Mint Bu-
reau has been unusually heavy. The deposits
Of gold bullion at the mints and assav oftces
have been. both in number and value, greater
than in any previous year-S9S, 1876, 095-and ex-
ceeding by nearly $50, 900, 600 the highest pre-
vious deposit of 1861. This gain was not the
result of increased deposits of domestic pro-
duction, Of which s35, S2l, 705 were received,
as against over S3S, 100000 for the previous
year. The deposits of plate jewelry and
worn coin were about $250,000 greater than
1879, amounting to j 1885, 1874, and receipts OF
foreign coin and bullion increased nearly $780,
000,0O being s6l, 627 $685. out of total import
of So, $50, 1877. The deposits OF silver and de-
liveries upon purchases were only exceeded
during the coinage OF fractional silver and
trade dollars in 1877 and 1873. The receipts
of domestic silver bullion were S32, l33, l56
foreign coin and bullion, 80, 30. los; plate, jew
elry and American coin, ~, $685. total,
S34, l40, 52279. Of these deposits $50, l4l, $3.50
in gold and S2,574, 1856 in silver were trans
ferred or Withdrawn from the assay offices or
mints and again deposited making the total
amount received and operated upon of both
gold and silver Sl72, LOG, 22l. The coinage OF
gold although heavier than i'm any previous
year, cou not keep pace with the deposits,
and S3s, 46s, S74 in gold bullion remained I'M
coined at the New York Assay Office and Phila-
delphia Mint at the close of the fiscal year.
The minis, however, augmented the circula-
ton S84, $40, LA, adding S56, 1877, 1876 in gold,
$27, 9i2, 437 in silver, and $269,37l in minor
coins.
The total purchase of silver bullion during
the year amounted to 4,426, 257, 1873 standard
ounces, at n cost of S24, 972 461, being an aver
/ N
lion per month. The average Treasury Depart
ment price Of silver bullion OF the British
standard during the. year 81 7-l0d.
! The total coinage of the standard silver
dollar has been s72,Si7,750. The amount on
| July !, 1879 was 81, 653, 649, and on July l,
1890, $l9, 309, 435, an increase in the c.rcula-
ton during the year OF Eli $3.50, 1856. The clrcu-
! lation was further increased to November /,
1880, by the issue of e6.453, $50. making the
! total circulation at that date 1875, 1882 The
remainder Of the coinage, SAB, Osi 459, was IN
| the treasury, SIS, 70S, 241 being held for the
redemption Of silver certificates, and s2S, Boa
| 2lS for distribution OF the latter, $12, 91S,-
! sos was still In the minis.
The production of gold and silver in the
! United States during the fiscal year is estimated
at 36 900 900 OF gold and $37 700. 900 of silver.
! Ii IL estimated that probably S5,500,O0O OF
! gold and $4,000, GOO of silver of domesti; pro-
! duction, together with $4,000, 200 gold and
! S60O,O of silver United States coin were
used in the manufactures and arts, be-
side the melting up OF plate, jewelry, for
eign coin and bullion sufficient to make
a total consumption i'll the United
States of 80, 900 900 in gold and IS, 600, 900 in
1 silver. The most Interesting portion of the re-
port OF the Director Of the Mint relates to the
coin in circulation. The estimates, starting with
! $135. 000. 900 IN gold and @5.000.00 silver coin
in 1873. have been continued to Nov. l. 1850,
| by adding yearly coinage, less recoinage, and
coin imports less exports, show an increes,
in coin circulation for the whole period OF
$40 1923, Sol in gold and s147 277, 5i4 in silver
CON.
The gain in coin in the country and of bull
! lion in the minis since Jan. /, 1879, the date
! fixed for resumption amounts to 1927, 1893 1928,
/ of which $175 701, 9W liz in gold and s5l.697,-
/ 524 silver. On June 80, 1880, the amount of
gold coin in the country was S35S, 95S,691 and
of silver coin $l42. 597, G9l. These amounts
were further increased 10y Nov. l. 1880, by
net coinage and import OF $40, 365, 100 in
gold and S9,GS0,2H i'll silver, making
at the latter date 1901, 425, OF which
1915, 1923, 8s1 was gold and 1884, 544
/ silver. The minis and assay Offices held in adj
ditlon bullion, which is being coined as rapidly
"a the facilities will admit, TO the amount of
$1S, 55s, 81 gold and s6,043 367 silver, making
a grand total of coin in circulation and bullion
available for coinage on the LIST of November
of S612, 203,603, S453, $685. 92 of which is
gold and s15S, 32O,9ll silver. OF the amount
OF United States gold coin in the country
Nov. 1, $62, 1911 al was in the treasury,
S112, III, 500 held by the banks and 5000, 379, 1873
in private hands. OF the silver coin, SAT, 0S4,
459 standard dollars, and S24, 500 4S9 in frac-
tional silver were held bv the treasury. The
national banks report S5,330.357 as the amount
OF silver held by them. leaving SIS. $685. 239 in
other banks and in general circulation. BY a
comparison of these figures with the state
ment made by the Director of the Mint the LIST
of November, 1879, it will be seen that the
treasury gold reserve has diminished to the
amount of S57, 1853, 529 in coin. but holds over
?78, 900 in bullion. The silver coin in the
treasury has increased to the amount of
92l, 1924 ,34S. The banks have increased their
stock of coin 10 the amount of $50, 147, 1884 in
gold and 1l,014 in silver, and the amounts
in private hands have been increased by
49, ,03O in gold and S9.OS5. 1913 in silver.