Wood County reporter. [volume] (Grand Rapids [i.e. Wisconsin Rapids], Wis.) 1857-1923, 1880-12-09
DEPARTMENT REPORTS
The Superintendent Of the Mints
Tells Some Interesting Tales
About Coinage.
Commissioner Raum's Review of In
ternal Revenue Receipts-An I'M
portant Paper.
The Mints.

bureauhas been unusually heavy
The deposits of gold bullion at the
mints and assay offices have been botl
in number and value greater than il
any previous year, aggregating S9S,
S35,096, and exceeding by nearly 80,
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 80, 5,S21, 20;
were received as against over SO ,500,-
600 for the previous year. The depos
its of plate and jewelry and worn coir
were about S250000, greater thar
in 1879, amounting to 81 1886, 1874, anC
the receipts of foreign coin and bullion
increased nearly 60000,000. being 81,
627 800 out of a total import of 60, $50.
837.
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
$50, 1876; foreign coin and bullion
2,219, ,105; plate, jewelry and American
coin, $2S8, ,G60,01; total $34, ,640, ,522.79
OF these deposits, $50, ,141 ,3G6 in gold
and $2,574, ,235 in silver, weie trans
ferred or withdrawn from the assay of
fices or mints, and again deposited
making the total amount received and
operated upon of both gold and silver,
$172, ,191 ,221. The coinage of gold, al
though heavier than in any previous
year, could not keep pace with the de-
posits, and $38, 8,468,874 OF gold
bullion remained uncoined at the
New York assay office and the
Philadelphia mint at the close of the
fiscal year. The mints, however, aug
mented the circulation of SS4, $40, IA
adding 500, 1919 in gold, $27, ,942, ,437
in silver and $269,971 in minor coins.
The total purchases of silver bullion
during the year amounted to 2,426,-
257 ,138 standard ounces at a cost of
$24 ,972, ,l61; being the Average pur-
chase Of $2,081 ,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 ,75O; the
amonnt on July 1, 1879, was
s., ,653, $40, and on July l,
1880, $4,000, 9,435; an increase in
circulation during the year, of $11 $50,
78G. The circulation was further in
creased up to Nov. 1, 1880, by the issue
Of SIS, ,453, ,856; making the total in cir
culation at that date, $25, 5,763,931. The
remainder of the coinage, $40,0S4, ,459,
was in the treasury; $19,780,241 being
held for the redemption Of silver GER
iificates, and $2S,304,218 for the distri-
button of the latter; and $12,198,505
was still in the mints The production
of gold and silver in the United States,
during the fiscal year, is estimated at
$50, 100000 in gold, and $37, 200. 900 in
silver 1t is estimated that s., 100000
in gold, and $4,000 in silver, of
domestic production, together with
s., 100000 of gold, and 100000 of sill
yer in L. S. coin were used in manu-
factures and arts, besides the melting
up of plate, jewelry, foreign coin, and
bullion, sufficient to make the total
consumption in the U. S. $4,000, goo in
gold, and $5,000,000 silver. The most
interesting portion of the report of the
director of mints relates to coin circu-
lation. The estimates starting with
S135,000,000 in gold, and $5,O00,0O0 in
silver coin, in 1878, have been cOntin-
ued to Nov. 1, 1880. by adding the
yearly coinage, less recoinage, and coin
imports less exports, show an increase
in coin circulation for the whole period
Of S240, 1923. .8S1 in gold, and $147 ,277 ,544
in silver coin,
The gain of coin in the country and
Of bullion in the mints since January |,
1879, the date fixed for resumption
amounts to 1927, ,399 ,42S, ofwhich $175,-
701, ,904 is in gold, and $51, ,697 ,524 in
silver. On June SO, 1880, the amount
of gold coin in the country was S35S, $685.
691, and in silver coin, $142, ,597, ,020.
These amounts were farther increased
by Nov. 1, 1880, by the net coinage and
import of 1866, 100 in gold, and So
68O,524 in silver; making the total
amount of U. S. coin at a latter date at
S527 ,G01, ,425, of which 1915, ,323, ,SS1 was
gold, and $152, ,272, ,544 silver.
The mints and assay offices held in
addition bullion which is being coined
as rapidly as the facilities will admit,
to the amount of S7S,55S, 81 in gold
and S6,O43, ,367 in silver, making grand
total of coin in circulation and bullion
available for coinage, on the 1st Of No
vember, of S612, ,203 COB; S453, ,S82, ,692 of
which is gold, and $158 8,320,911 silver.
Of the amount of United States gold
coin in the country on November 1st,
S62 10Y, III was in the treasury, S112,-
III ,6O2 held by banks and $500, ,379.138
in private bonds. Of the silver coin
S47 ,OS4,45 in standard dollars, and
S24, 4,G29, ,4S9 in fractional silver, were
held by the treasury.
The national banks report So
$50, ,357 as the amount of silver
held by them, leaving $685.
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 1st
ofNovember, 1879, it will be seen that
the treasury gold in reserve had dimin
ished to the amount of S57,753. .529 in
coin, but holds over SIS, 100000 in bull
lion. The silver coin in the treasury
has increased to the amount of S21,
| 324, ,348. The banks have increased
their stock of coin to the amount O
$50, ,147 ,884 in gold, and S411, ,014 in sill
yer, and the amounts in private hand:
have been increased by S38, ,179, ,030 IL
gold, and S9,085, ,S26 in silver.
| Internal Revenue.