Grant County herald. [volume] (Lancaster, Wis.) 1850-1968, 1881-12-08
GOLD AND SILVER.
Report of tho Director OF in

Report of the Director OF the Mint.
The annual report of Horstio C. Burchardi
the Director OF the United States Mint, for the
fiscal year ended June 50. 1881, contains, in adj
dition to the customary detailed statements OF
the operations OF the minis and assay offices,
much valuable information in regard to the
production Of precious metals in the United
States and in the world, their use in the coin
age OF this and foreign countries, consumption
in arts and manufactures, specie circulation,
and an examination Of the course of prices
omparing paper and metallic circulation
br series Of ffty-six years,
With Abe percentage Of yearly prices
to the mean prices Of staple articles, in
dicating the annual variations in the purchas-
ing price OF money. Gold and silver received
and operated u on by all the minis and assay
Offices exceeding by more than $50, 1000, 900 the
receipts OF any previous year, amounted to
e226 225, 522, of which S193,97l, l0l WAS gold,
and $50, s54. 421 silver. This large increase
was due to the continued influx of gold from
abroad, over 95,000,0o0 deposited being
from that source alone. The coinage
facilities OF the minis will be enlisted
to their fullest extent in converting
This bullion into coin. The gold coinage
amounted to SIS, 739, s64, OF which l5,3ie, $40
WAS in double eagles, and the remainder in
coins OF lesser denominations. The coinage of
silver was confined to the minimum value of
silver bullion required TO be coined by the Law
authorizing the coinage of the standard silver
dollar, $27, 637, 955 of which were struck Of
subsidiary coins only S12,0l1 were coined, and
Of base metal or minor coins s405 l09 Tho
total coinage OF silver dollars since the passage
OF the act FOR their coinage mp to Nov. ], was
500, 672 705 OF which S34, 096, 327 in circu-
lstlon, and SOS, s33, TO held by the treasury
for the payment Of outstanding silver eertif-
Gates, leaving s7,7S760S For disbursement by
the treasury In ordinary payments.
The usual examinations and settlements were
made at the close Of the wear.
The report, referring to the probable restora-
ton OF silver to its former place in the none
tary circulation, says; - In view of the failure
Of the international monetary conference to
agree upon any practical measure and while
awaiting its future action, it is question for
our serious and early consideration whether i'll
not desirable to suspend further coinage of sill
yer until by international agreement and effect
i've legislation unlimited coinage Of silver
and gold at common fixed rates shall have
been authorized by the principal commercial
nations Of Europe and America. Should the
$3.50, 000. 600 silver coin now tu legal tender IN
Europe be demonetized the United States
could not single-handed among commercial
nations, with no European cooperation or al
lies, sustain the yalue of silver from an newt
able fall. With that danger meuacing US We
cannot, without serious embarrassment. CON
tinue such coinage unless other commercial ma
tons will agree upon the general use of silver
as well as gold.
The ratio of 1871 to one already approved,
and IN use among the nations composing the
Latin Union, would doubtless be chosen. This
would cause, if the coinage of silver, rs wellas
gold, at all the minis Of the world we're made
free, as bi-metallism implies, the voluntary
withdrawal from circulation OF the standard dol
lars and their reconage. In snch case the further
coinage of tho silver dollars of the present
weight, unless needed for circulation, is u.s.
less expenditure Director Bnrohard estimates
the worlds production Of gold for the calendar
year 1880 at sl07 000, 900, and Of silver
SS7, 5000 600. The CONSUMPTION OF tho
world III ornamentaton. manufactures and tine
arts is estimated for the same period a 80.
100000 gold and SIS, 00l. 900 silver. Tie est-
mated circulation Of the principal countries OF
tender silver S. los 00O,000 limited tenders,
| S423, 100000 total specie, So Id9 010, 900
| paper, So, GA 600 600 making the total creu-
/ latlon, including the amount held in tho
/ Governments trCasurics, lat Ia ana III active
I circulation, 80 4e3, 000, 0D0 Upon the sub
/ ject of tho course Of prices, and iadic5tsib
I the annual variations IN the purchasing
| power Of money IN the United states, the III
! rector has prepared tables showing tlia ayeras
annual prices Of both god aud currency OF ths
leading staple articles N tic hcA York market
for fifty-six years. with The moan iJico oi each
and also the relation which the average auauai
price Of each article bears 20 tho mcau price for
the whole term of years The mean petccutBee
for each year Of ail anicles named furnishes .
basis for measuring tn purchasing power II
money. and Is inatuetiycly compared with the
per-cs pita circulation and estimated wealth foI
each year