The Rock Island Argus. (Rock Island, Ill.) 1877-1885, 1883-11-06
SILVER AND GOLD.
Synopsis of Burchard's Report on
Rich Subject
Production of the Precious Metals
and Coinage OF the Same Recon-
mendatiOns- -SOme General
statistics of Interest.

WASHINGTON CRY, Nov 6-Burchard, the
director of the mint, has submitted his annual
report showing the operations of the minus
and essay offices during the last fiscal year.
The receipts of gold bullion fell OIL from that
of the previous year, owing to diminished
gold imports, but silver bullion received Tor
bars and coinage slightly increased The TO-
tai amount of gold and silver received and
operated upon was SS7, 75S, l54, of which
$40. 145. $50 was gold and SIS, 6l2, 594 was sill
yer The total coinage of gold was S35, 1885,
997, of silver SIS, S85 40 of which 500, III, l19
was in standard silver dollars. The
profits on the coinage of standard dollars
during the year were SO, 70l, 3S1 and on frac.
t:onal silver 80, 100 The net silver profits
from this source for the last five years and
pad in5o the treasury were SIG, $50, 80.
Under tie provisions of the act of 1878, re-
qu.ring the coinage of S2,0OO,00O worth of
silver bullion per month, 54,376, S99
have been coined prior to October
1st, and this with the $S1, $50 600 of fractional
silver in the country, a total of S2S5 600 900 is,
the director says, in excess of the require
ments of silver circulation. This is apparent
from the fact that there are in the vaults of
the treasury $50, 000, 900 over and above out
standing silver certificates, besides nearly
S27, 900, 600 in fractional silver coin. The
director recommends the report of the law
requiring 81, 100000 in silver to be coined
monthly, and expresses his belief that the
equal coinage Of both gold and silver by all
nations is desirable in order to give greater
stability 10 values of commodities and credits.
Mr.. Burchard recommends that the coinage
of the gold dollar and Scent nickel piece be
discontinued.
Tho production Of gold for the current cal
endaI year viii probably be 100000 less
than il 1882, and that of silver at least 81,
0O0000 greater, which will make the produc-
ton $52.000Q0O of gold and nearly
S49,Oa00OJ of silver. The consump-
ton OF gold in the arts and man
ufGctares he estimates at sl2,OoO,OO The
estimated coin circulation of the United
States July l, 1883 was S5S7. 000, coo gold and
SIS, G00. $50 silver On October |, 1888, is
$ji4, 50J, CO.. Of gold and $235, 900 900 silver
Elaborate tables appear in the report show
ing the average prices of the principal do
nestle exports during the year and of the
leading commodities in the New York mar
ket for the calendar year 1889. From these
tables it appears that the average values
have not materially varied from
those Of the previous year, while
the prices in the New York market indicate
an advance in the average percentage of
prices in 1882 of Clio per cent Similar
tables prepared giving the prices, quantities
and values of articles imported into Great
Britain give an advance of 6-l0 per cent
over the average prices of the previous year
The report contains also valuable and inter
esting information relative to the monetary
statistics and financial affairs of foreign
countries. The production of gold in twenty
countries is placed at $103 16l $50 and of sill
yer 500, 446, $50, showing a decrease from
the previous year of 81, 600, 900 in gold and
an increase of ST, 900, 900 in silver. The coin
age Of twenty-four countries was 500, 9O6, 9St
gold and 500, 997, 952 silver. The paper anG
specie circulation is given for thirty-eight
countries as follows: Paper circulation 49,,
ST., 900 9o3, gold So 33S, 433 900, silver 50, ia
226,O 00.