The Elk County advocate. [volume] (Ridgway, Pa.) 1868-1883, 1882-10-19
Report of the Director of the Mint,

The report of the director of the mint of
the operations of the United States mints
and assay offices during the fiscal year end
ing June 80, 1882 shows that the imports of
foreign gold CON and bullion were in the
first half of the year $50 100, ,230 greater, but
during the last half $2S,311 ,047 less, than
the exports, the act gain for the year being
only S1,7S9, 1873. The total amount of gold
deposited was $66, 75G,653, which was
$7t,00O,O00 less than the preceding
year, while the silver purchased for
coinage and deposited for bars was about
S3,OOO,O00 greater, and amounted to $780,
720,491. Notwithstanding the decrease in the
deposits of gold the coinage was greater
than that of any previous year in the history
of the mint. AT the commencement of the
year there was on hand $SG,54S, ,697 of un-
coined gold bullion, $32, ,S4S, AL of which, in
addition to the deposits of the year, was con-
sumed in coinage. The total coinage was
IL, ,266,0O3 pieces, of the value of $S9,4l3,-
4f.5O, being nearly 81, 100000 more than
in any previous year. About one-half of the
coinage was i'll eagles, one-third in half
eagles and the remainder in double eagles.
The silver coinage consisted of S27,772,-
075 in silver dollars and S11, ,313.75 in frac-
tional coin, a total of $27, ,7S3, $3.50. OF the
minor or base metal coins 46, $685. 725 pieces,
of value of SGi4, 1910 were struck. Gold
bars of the value of S37, sos, 120.04 were manu-
factured, PA, ,674.90 of which were of fine
SOlu lOl uepOhtOrS dU the NEW lOrh assay
office. Fine silver bars of the value of ST.
769, S98. 15were also made, chiefly at the same
institution.
The purchases of silver for coinage during
the year amounted to 23, 627, ,229.37 ounces of
standard silver, at a cost of $24, 136, ,942. 10,
an average of S1.0215 per ounce. OF the
coinage of the silver dollar during the year
the mints distributed S15,747 ,463, leaving in
the mints $35, ,365,672, the balance of this
and previous years coinage.
The production of gold for the fiscal year
is estimated at $31 800, 900 and of silver $H,-
100000 decline of $5,0OO000 in gold and
an increase of $2,600,0O0 in silver upon the
estimated production for the previous fiscal
year.. The consumption of the precious
metals in the United States for use in the
arts during the year is estimated at $12,00O,-
600 of gold and $7,000,000 of silver, of which
$7,OOOOOO of gold and S6,0O0,0O0 of silver
was of domestic production.
The total coin of the country is es s,imated
to have been at the beginning of the year
$439, 1858 gold and $171, ,459, ,766 silver, a
total OF SCI, ,236 ,5l9; and at the close of the
year $5OO716, 753 gold and $199, ASS, ,766 sill
yer; total 500, ,236, ,519, a gain of $61, ,0O0,-
600 in gold coin and SOS, 100000 in silver.
On July |, 1881, the total paper and specie
of the country amounted to 81 1853, ,342 SOB,
and on July ], 1882, to 81 ,543, 710,432, gain
of about $74, 900, 600, of which sos, 5000
NN4Ai VI
the fiscal year the treasury held $319, ,504, ,055
in paper and specie, the banks $203, ,633, 800
and the remainder, 81 ,020, ,372, SIT, was in ac-
tive circulation. OF the total increase of
$74, 800 900 the treasury received $15, SOC, GOO,
the people gained $71, 100000 and the banks
lost $11, 100000.
In twenty of the chief mining countries the
production was OF gold, $107, ,773, 157, and
of silver, $97, ,659, AGO, which was an increase
of 81, 100000 of gold and 50, 900 of silver
over the production of 1880. The coinage
executed at the mints of the fifteen principal
countries of the world during the year 1881,
was: OF gold, $l36, ,387, 1888, and of silver,
$780, 7O5, ,S2 total of $237, ,093, POT AN increase
of about 5000, 900 over the coinage of $780,
The circulation of thirty-four countries, en-
bracing, nearly all of the civilized portion of
the earth, is given as: Paper, 1925, ,220, ,078;
gold, $3,353 $751; and silver, $1,000, 769,
o35; total specie circulation Of $594, ,443,
5S3, and of paper and specie, 50, 799, ,663, ,661.
OF the latter 81, sos, 1856, 763 was held by banks
and national treasures, leaving in circula-
ton outside of banks and treasures an
active circulating medium of paper and specie
amounting to $8, 100, ,676, 1893.