The Iowa plain dealer. [volume] (New Oregon, Howard County, Iowa) 1867-1895, 1881-12-08
GOLD AND SILVER.
Rcpors or the Director az the |

Rcpor. or the Director ~ the Mint
The aii.ual report Of linfatio G. l.,irc.lard
Iii. Director II the United States Mint, FOR Ill,
fiscal year ended june 80, 1881, contains, in al
diton to The customary detailed statements oil
the operations of the minis and assay Offices
much valuable information In regard to tht
production 81 precious metals III tho United
States and In the world. their Use III the coin
as. " tLi- and foreign countries, consumption
In nrts and manufactures, specie circulation,
and an examination of the course OF prices
comparing paper and metallic circulation
for series of hfty-eix years,
with tho percentage Of yearly prices
"a the mean prices Of staple articles. in
deaing the annual variations in the purchase
IN. price Of money Gold aud silver received
offices, exceeding by more than S50,Ooeooo the
receipt. Of. any previous year, amounted n
Saaaa. 2a5 $40. III which $193.37l, l0l WAS gold,
aud sa2s5l,42 silver. This large increase
was due to the continued influx OF gold from
abroad. over sa5,OO0,000 deposited being
from that source alone. Tho coinage
facilities OF the min,s Will be enlisted
10 Their fullest extent IN converting
this bullion into coin. The gold coinage
amounted to SIS, 733 s64, OF which l5.345. $50
was in double eagles and tho 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, ,955 Of which were struck vi
subsidiary coins only Sl20ll were coined, and
Of base metal or MINOR coins s405, log. The
total coinage Of silver dollars since the passage
Of the act Tor thcit coinage, up to Nov. l, was
SlOO,672 705 Of which ia. 09G 327 are in crc,,-
lat m l..ll hS In fpsu
for the payment Of outstanding silver e,rtii-
Gates, leaving t7.737, Cos for disbursement by
the treasury III ordinary payments.
The usual examinations and settlements were
made at tho close OF tho year.
The report, referring to the probable rcstora-
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. ii Is question for
our serious and early consideration whether it IL
not desirable to suspend further coinage Of all
yer until by International agreement and effect
I've legislation unlimited coinage u silver
and gold at common fixed rates shall have
been authorized by the principal commercial
nations Of Europe and America. Should the
S65o, 000. 0o0 silver coin now full legal tender in
Europe bc dcmonctized, the United States
could not, single-hsnded among commercial
nations, with no European cooperation "r al
able fall. With that danger mcnacing H., We
cannot, without serious embarrassment. con-
tinue such coinage unless other commercial ma
tons will aeree upon the general use Of silver
~ well a. gold"
The ratio of 49, to ono already approved,
and in use among the nations composing tho
Latin Union, would doubtless be chosen. This
would cause, il the coinage Of silver, rs well Nh
gold, at ali the mints OF tho world were made
free, ~ hl-mctalllsm lmphcs, the voluntary
withdrawal from circulation Of the standard dol
lars and their rccolnage In such case tue further
coinage VI tho silver dollars Of the present
weight, unless needed for circulation, il use
less expenditure. Director Burchard estimates
the worlds production Of gold for the calendar
year lss0 at Sl07,0oo,0do. aud OF silver
IS. 100000. The consumption Of the
world i'll ornamcntation. manufactures and the
arts is estimated for the same period ut $9s.-
100000 gold and 81. TOD. 600 silver. The cs,i-
mated circulation OF the principal countries Of
the world is placed at - ~ ,tuo 900 full legal.
tender silver. 81, l55. 00u.uUu; limited tenders,
ti23, 0M.0 o0s total specie, S5.159.o0o. Goa
paper, $3.sls. 00o, 600; making the total cire,-
lation, including the amount held in tho
Governments treasures. links and i'll active
circulation, saiaao0o.eeo. Upon the sub.
ject OF the course Of prices, aud indicating
the annual variations in the purchasing
power Of money IN the United States, the hi.
rector has prepared tables showing tho averas
annual prices Of both gold and currency 81 the
leading staple articles in the New York mSrke,
for fifty-six years, with the mean price Of each,
and also the relation which the average annual
price Of each article bears To the mean price foI
the whole term OF years. The mean pcrcentsg,
for each year OF all articles named furnishes 4
basis for measuring the purchasing power II
money, aud Is instrnctively compared with the
per-capita circulation and estimated wealth fol
each year