The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1881-12-09
The United States Mint.
WASHINGTON; November y.

WASHINGTON, November u.
The annual report of the Director Of the
United States Mint for the fiscal year ended
June 80, 1881, contains, in addition to The
customary detailed statements of the opera
tions of the minis and assay Offices. much
valuable information in regard to the pro.
duction of precious metals In the United
States and in the world, their use Tn the
coinage of this and foreign countries, con.
sumption in arts and manufactures. specie
circulation, and an examination OF the
course Of prices. comparing paper ana me-
tallic circulation for . series OF ffty-six
years with the percentage of yearly prices to
the mean prices of staple articles, indicating
the annual variations in the purchasing
price of money. Gold and silver received
and operated upon by all the mints anc
assay Offices. exceeding by more than SoO,.
OOO. 900 the receipts Of any previous year,
amounted to $226, 225. $50, OF which a - sisS,. 3.
silver. This large increase was
due to the continued influx Of
gold from abroad, over $95, OW, wv depos.
tied being from that source alone. The
coinage facilities of the minis will be en-
listed to their fullest extent in converting
this bullion into coin. The gold coinage
$50 was In double eagles, and the remainder
in coins Of lesser denominations. The COIN
age 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, 81, 657 800 OF which
were struck; of subsidiary coins only $12,O1l
were coined and of base metal or minor
coins $4O5, 100. The total coinage of silver
dollars since the passage Of the act for their
coinage, up to November l, was $fOo, 672.- :
TO5. of which $34, O96, 327 are in circulation,
and $5S, S33, ITO held by the Treasury for the
payment of outstanding silver certificates
leaving 81. 737, COS for disbursement by the
Treasury in ordinary payments.
The usual examinations and settlements
were made at the close Of the year.
The report referring to the probable res.
toration Of silver to its former place in the
monetary circulation, says: I'm view OF the
failure of the International Monetary Con-
ference to agree upon any practical meas
ure, and, while awaiting its future action,
it is question for our serious and early
consideration, whether 1t Is NOT oesiraD1e 20
suspend further coinage OF silver until by
international agreement and effective legs.
lation unlimited coinage of silver and gold
at common fixed rates shall have been au.
thorized by the principal commercial Ma
lions of Europe and America. Should the
$3.50, 0OO, 900 silver coin now full legal tender
in Europe be demonetized, the United
SL8t0S COulu uOty eNuSAO A0ANS~ SA~S-sts
commercial Nations, with no European CO.
operation or allies, sustain the value OF sil-
yer from an inevitable fall. With that dan.
ger menacing US, we cannot, without seri.
Gus embarrassment, continue such coinage
unless other commercial Nations will agree
upon the general use of silver a. well q
gold.
proved, and in use among the nations com.
posing the Latin Union, would doubtless
Be chosen. This would cause, il the coinage
of silver, as well as gold, At all the minis
of the world were made free. as bimetallism
implies, the voluntary withdrawal from
circulation Of the standard dollars and theil
recoinage. In such case the further COIN.
age of the silver dollars Of the present
weight, unless needed for circulation, is 8
useless expenditure" Director Burehard
estimates the worlds production OF gold
| for the calendar year 1880 at $40, $50 900,
and of silver ST.. $4,000. The consumptioE
| of the world in Ornamentation, msnufact'
ures and the arts is estimated for the same
period at SIS, OO0, 900 gold and $35 OO0, 900 sill
yer, The estimated circulation Of the princf'
nal countries of the world Is placed at =, 221.
| COO. 900: full legal tender silver, 81, los,
O0O, 200; limited tenders, $423, 700, 900
total specie. IS, 759, Ooo. 900; paper. 70, GA:
coz, OOO, making the total circulation, includ
ing the amount held in the Governments
treasures, banks, and in active circulation
| S9.4O3,OOO, 200. Upon the subject of tn
course of prices, and indicating the annua
variations in the purchasing power of mon
ey in the United States, the Director ha'
| prepared tables showing the average annua
prices in both gold and currency Of TIL
leading staple articles In the New Yorl
market for ffty-six years, with the meal
I price of each, and also the relation which
the average annual price of each artick
bears to the mean price for the whole tern
of years. The mean percentage for eacl
wear Of all articles named furnishes = basi
for measuring the purchasing power o
money, and is instructively compared witt
the per capita circulation and estimated
wealth for each year.