New-York tribune., 1883-11-05
OPERAITOYS or THE MIyTS.
THE ANNUAL REPORT OF THE DIRECTOR

| THE ANNUAL REPORT VI HE DlhECIOiN
! RECEIPTS OF BULLION-STANDARD SILVER DOLLARS
THE TRADE DOLLAR-CoINAGE.
| WASHINGTON Nov. al. NJ. Burchard,
Director Of the Mint has submitted TO the Secretary Of the
Treasury his report showing the operations of the
mins and assay Offices The receipts of gold bullion fell
Off owing to diminished gold Imports but the rcceipS
of silver bullion for and coinage slightly increased
The total amount OF gold and silver received and operated
upon was $S7 75S 15l, of which SiolI5,559 was gold
and S3s, ,612, ,j95 silver. The coinage Of the year
consisted Of 9s 6G664 pieces, Of the value fS662OO
7O5 The number of pieces struck greater by about
IL 500 than any other fiscal year since the organi
cation Of the Mint Bureau. Nearly all the gold
coined at san Francisco and Carson was In
double eagles; at Philadelphia It was chiefly
in eagles and half eagles. The total coinage OF
gold was $35 1896 1927. The value OF the silver coinage
was sos e3547O. Of which Slll1l9 was IN standard
silver dollars the latter $l9.Gil1l9 were coined AT
Philadelphia and New-Orleans, and SSA7OOOO at San
Francisco and Carson. large demand arose for dimes
and 7175Il9 pieces coined at the mint in Phiadc
pha The demand for minor coins continued urgent and
2O455AsS hyc-cent pieces and 40,4G7,il9 Oncccnt
pieces were struck and issued.
Bars were INDEPENDENTLY at Iork-to the yauc
of sO7 of which 81 ls,269,2O5 in gold, and
5000 6O2 in silver. Gold bars exchanged for coin
TO the amount of $j173965 at Ncw-loI& and
| Sls75n at Philadelphia. The amount Of bull
\
43s 81 in gold aud S13.2s363l 40 in silver.
The mint at Philadelphia struck G,ss9 medals OF gold Ill
yer ana bronze The purchases and receipts -! silver
bullion for the coinage OF the standard silver dollar were
25A32 1870 ounces at cost Of S25l77J27 The average
cost was 81 IL 7lO per ounce fine The average market
price was 81 IL s-lOp per ounce.
TIE COINAGE or SILVER DOLLARS.
Under the provisions OF the act of ls7S rcurin, the
coinage Of y 900 900 worth Of silver bullion PER month
SI5i37O s99 had been coined prior 10 Ocio'rr l. ana
that amount tocccr with the 900 Of fractional
silver IN the country making grand total o. S+3'OOo-
OOO is in the judgment Of the Drec0ro The Mint IN cA-
cess OF the requirements Tor silver circulation This. he
remarks Is apparent from the fact that there are IN the
vaults Of the Treasury 39OOOOOo standard silver dollars
over ana above the outstanding silver certificates ana In
addition to nearly $4,000 900 i'm fractional silver coinn
total of S66OOOOOO. The Director is Of the opinion
that tho law should be modified or repealed
AT the beginning Of the fiscal year The miu'' Dad nn hnd
G72 standard dollars; the coinage amounted TO
119, and at the close Of the year there was re-
naming in the mints 5i3,3oi59O
For the support 0l the mius and assay Offices +ll9-,
O82 was specifically appropriated aud from that amount
e115s3 377 expended In addition 70 th-. @l6l3o9
was expended from the appropriation provided by the
act authorizing coinage Of the standard silver dol'r-
The earnings of the mins during the year were S12I'
500 and the expenses $l72G2s1.
The results OF the assays and tests made by the annual
ASSAY commission aud those made monthly M the Mint
Bureau show that the coinage was remarkably close to
standard with the exception of the gold coinage Of the
mint at At the annual assay one piece from
this mint was found deficient in fncness. The monthly
tests showed Of the Coins in one delivery al that
mint were not fully up to the standard OF hnencss
REQUIRED by law and the superintendent instructed
TO withhold from circulation, for the purpose Of reconagr
all the coins in - custody received IN this delivery The
annual settlements made at the HiHts and Office al
cntatiVes ." Of tba Mini Bnrea1 showed mai the
exceeded the legal limit. and
bullion and coin charged 10 the superucndcnt- Of the
books OF the Treasury Department were fully accounted
for.
UsrLEss COINS.
The Director recommends that the coinage Of the gold
dollar and the thIccccnt nickel piece be discontinued
The gold dollar has been found too small for ordinary
monetary and Is virtually out Of circulation The only
calls for many year, upon the mnts for this coin have
been FOR cabinet sdccimcns by jewellers for conversion
into personal ornaments The thrccccut nickel piece La-
/ never been a popular coin and the number in
the Treasury has remained largely In excess Of the
| demand for circulation. II originally author
lied by the OF 1851 reducing the rate of letter post
age 10 cents and as the letter postage IS only
cents the necessity coinage for postage purposes
no longer exists. The repeal OF the act authorizing the
coinage Of the trade dollar Is recommended Ii would,
Justice permit these coins TO be sent to the InintS and
exchanged for ohcr silver coins into which they could be
pr0dt ably recOncd The Director believes that cause
for the apprehension that large number OF cx-
ported trade dollars would be returned To this country,
| in the interior Of that country.
The production OF gold for the current calendar year
will probably be 100000 less than i'll 1882, and that OF
silver at least 81 100000 greater which Will make the
production 100000 gold and nearly $490OO,OO0
silver The consumption Of gold in the arts and manu-
factures was fully equal to thAt In the previous year.
about 81 100000, OF which S7OOO,OOO was domestic
production; the amount OF silver thus used was about
half million dollars less than last year being @G5OOOOO,
of which So 100000 was domestic production.
THE TOTAL COIN CIRCULATION.
The Director estimates the total coin circulation
OF the United States July l S7G5000000, Of
/ which $537, 100000 gold and $22SO0OOOO
! silver This estimate is based upon an
estimate of Sl35,OOOOOO gold and S5OOO,OO0
silver I'm 1873 TO which has been added only the net coin
age and net imports Of coin for the first six and of Amer
can coin for the last four years, with deduction OF the
estimated amount of undcpositod American coin melted
for manufactures. The estimate OF the circulation OF
United states coin October Is S5145l2699 Of gold and
/ s235 29l, ,G23 silver.
The report contains information relative To the none
tary statistics and financial affairs OF foreign countries
The production of gold in twenty countries Is placed at
SlO3 532, aud OF silver SlO9ii6,JS6, showing de
crease of 81 900 gold and Increase of S6OOOOOO
| In silver. The coinage Of twenty-fOur countries was
500 gO6 $50 gold and SlO 9979j2 silver The paper and
specie circulation is given for thirty countries OF
which the paper circulation is 20 s32 92O003 the gold
circulation SO 1888 $4,000, and the silver circulation
| S2,7l2,220OOO.