River Falls journal. [volume] (River Falls, Pierce County, Wis.) 1872-2019, 1880-12-09
DEPARTMENT REPORTS
The Superintendent OF the MINIS
Tells Some Interesting Tales
About Coinage.
Commissioner Raum's Review of IN
ternal Revenue Receipts-An I'M
portant Paper.


The annual report of the director of
the mint shows the work of the year 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 $685.
$50, 096, and exceeding by nearly 3d.
100000 the highest previous deposit,
that of 1861. This gain was not the re-
suit of increased deposits but of do
mestic production, of which 81, 1921 ,705
were received as against over IS, 800
600 for the previous year. The depos-
its Of plate and jewelry and worn coin
were about $4,000, greater than
in 1879, amounting to 81, 3S5, 1874, and
the receipts of foreign coin and bullion
increased nearly 60,000,000, being 61,-
627 800 out of a total import of $3.50,
S37.
The deposits of silver and deliveries
upon purchases, were only exceeded
during the coinage of fractional silver
and crude dollars in II and rs. The
receipts of domestic silver bullion were
So, 1922 %; foreign coin and bullion,
S2,219, 100; plate, jewelry and American
coin, $2SS, 660,01; total SD, $40, 522.79
OF these deposits, $50, III 1866 in gold
and 1854, go in silver weie trans
ferred or withdrawn from the assay of
fees or minis, and again deposited,
IN alSing the total amount recoived and
operated upon of both gold and silver,
S172, 191 ,22l. The coinage of gold, al
though heavier than in any previous
year, could not keep pace with the de-
posts, and $3S, 468,S74 of gold
bullion remained uncoined ut the
Philadelphia mint at the close of the
fiscal year. The mints, however, aug
mented the circulation of $84, $40, IA,
adding $50, 1878 in gold, $27, 81, 437
in silver and $269,971 i'll minor coins.
The total purchases of silver bullion
during the year amounted to 1926
257 ,13S standard ounces at Il cost of
$24, 972 ,161; being the acreage pur-
chase of $2,0S1 ,013 worth of silver bull
lion per month. The average treasury
department price of silver bullion of
the British standard during the year
was 52.7-10d. The total coinage Of sill
yer dollars has been So, S47 $50; the
| amount on July /, 1879, was
81 ,653, $40, and on July /,
1880, SO 1909, 435; an increase in
circulation during the year, of 81 ,G55,
7SG. The circulation was further in
creased up to Nov. l, 1850, by the issue
of $G,453, 856; making the total i'll cir
culation at that date, 50, 763, 931. The
remainder of the coinage, $4S,084, 459,
was in the treasury; S19,780 al being
held for the redemption of silver GER
iIfcates, and $2S,304, 21S for the distri-
| button of the latter; and S12, 1913, 800
was still in the minis. The production
of gold and silver in the United States,
| during the fiscal year, is estimated at
$50, 000,0 900 in gold, and $37 100000 in
silver 1t is estimated that s., 500, 900
in gold, and 100000 in silver, of
domestic production, together with
50, 5000 900 of gold, and 100000 of sill
yer in U. S. coin were used in manu-
features and arts, besides the melting
up of plate, jewelry, foreign coin, and
| bullion, sufficient to make the total
consumption in the U. 5. 100000 in
gold, and $4,000 900 silver. The most
interesting portion of the report of the
director of minis relates to coin clrcu-
lation. The estimates starting with
$135,000 900 in gold, and S5,000000 in
silver coin, in 1873, have been contin-
ued to Nov l, 1880. by adding the
yearly coinage, less recOinage, and coin
| imports less exports, show an increase
in COIN circulation for the whole period
Of $24O,323, SS1 III gold, and S147, 277 ,544
in silver coin,
The gain of coin i'll the country and
of bullion in the minis since January l,
! 1879, the date fixed for resumption
amounts to 1927 ,399 ,428, ofwhich $40
| 701 ,904 is in gold, and $51, 697 ,524 in
silver On June 80 1880, the amount
of gold coin in the country was S358, $685.
691, and in silver coin, $142, 597 ,020
| These amounts were farther increased
by Nov. l, 1880, by the net coinage and
import of $16,365, 100 in gold, and So
6S0,524 in silver; making the total
amount of IT, 5. coin at a latter date at
$527 ,601 ,425, Of which $375, 1928, SS1 was
gold, and 1852, 1872 ,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 1858, S11 in gold
and $G,043, 1867 in silver, making grand
total of coin in circulation and bullion
available for coinage, on the LIST of No
vember, of $612, 203, SOB; $453, 8S2,692 of
which is gold, and $15S,320,911 silver.
OF the amount of United States gold
coin in the country on November LIST,
S62 10Y, III was in the treasury, $l12,-
III, SOP held by banks and 5000, 379.13S
in private bonds. OF the silver coin
$47 ,0S4, 459 in standard dollars, and
$24, 629, 4S9 in fractional silver, were
held by the treasury.
The national banks report So
330,357 as the amount of silver
held by them, leaving 81, 233,
239 in other banks and in gen
eral circulation. By a comparison OF
these figures with the statement made
by the director of the mint, on the LIST
ofNovember, 1879, it will be seen that
the treasury gold in reserve had dimin-
ished to the amount of S57, 753.529 III
coin, but holds over SIS, 100000 in bull
lion. The silver coin in the treasury
| has increased to the amount of 81,
324,34S. The banks have increased
their stock Of coin to the amount of
$50, 147 1874 in gold, and $411,014 in sill
yer, and the amounts in private hands
have been increased by $3S, 179,Q3O III
gold, and S9,0S5, S2S in silver.
Internal Revenue