National Republican., 1883-01-27
A SURPLUS OF SILVER.
Secretary FOlger has SO Much OF it that
lie Really Docsn't Know What 90 do
with it-Morc Vault Room Needed.

Secretary Folger has so Much OF A that
lie Really Doesnt Know What 90 do
with it-DIorc Vault Room Needed.
Secretary Folgor has addressed letter to
the speaker of tho house Of representatives,
in which he says; have the honor to in
vite your attention to tho ipclosed copies of
communications relative to the amount of
silver coin on hand and the facilities for its
safekeeping in the subtreasury offices, show
ing tho urgent necessity for providing ad-
ditional vault room at once for storing silver,
or for disseminating tho coinage Of the
standard silver dollar Since the act passed,
Feb. %, 1873, authorizing the coinage of the
standard silver dollar new vaults have been
built expressly for storing silver at the fol-
lowing named offices:
New York subtreasury, at cost Of .s3s 6s7 .25
san Francisco subtreasury, at cost Of. 17059.II
Philadelphia subreasury, at a cost of.... S26S.
san Francisco mint, at cost of.....".... g3i9,QS
Baltimore subreasuty, at cost of....... S26S. is
Philadelphia mint, at n cost Of.......... 6VS5,5
San Francisco mint, at cost Of........ 10t t00,00
San Francisco subtreasury, at cost off,. 6,9S5.62
These vaults are now practically filed,
some of them to their utmost capacity.
Under the law there must be coined at the
mints mt least 100000 worth of standard
silver dollars monthly, and unless the law is
repealed before congress adjourns this session
provision must be made for the storage Of
this years coinage say $27000000, less the
amount put in circulation.
The increase in the circulation Of standard
silver dollars between November, 1881, and
November, 1882, was less than million and
half of dollars. The amount coined dur.
ing the same timo was S27,772,075.
The office of tho assistant treasurer at Gin
cinnati is in q building owned by the govern
meht but IL has been sold, to be delivered aa
soon Us tho new building is completed. For
this reason, and on account of the small
amount of space available, no additional
from that office TO other subtreasury of
fees from time to time TO relieve the
vaults since Feb. 2S, 1873, the sum of
$3 S27,7S0 in silver. The office of the assist
ant treasurer ut st. Louis is in rented build
ing, and, in addition to the vaults of the Office
available for use, theie has been rented from
the safe deposit company in that city large
vault exclusively for storage of standard sill
yer dollars at II cost of $l,750 per annum.
But the most serious difficulty will be eXpe-
rienCed in aflording relief to the San Fran
cisco subtreasury. The amount reported on
hand Jan. IL, 1883, was in standard silver dol
lars, $11,414000; fractional silver, 1874
606.43; total silver, S2l ,7SS, ,606.43, or about
62S tons. Both new vaults built for the pur-
pose are now about full, and che assistant
treasurer reports that there is no further space
available in his office for building another
vault. The only relief, therefore, that can be
given is TO transfer TO some subtreasury in
the east, at a cost of $4,000 for transportation
of each million transferred. There Is not
sufficient appropriation available for the pay
ment of the transportation of the amount re-
ceivod to be transferred, in order to properly
relieve that office, nor are the subtreasury
offices in the east in condition TO receive
that amount, as shown by the accompanying
reports of the several offices
Amount In the treasury January /, 1888
Standard silver dollars $40 on
Fractional silver. B,b2l,6O2 20