Mineral Point tribune. (Mineral Point, Wis.) 1869-1938, 1883-02-01
The Silver Dollar.
THE TROUBLE IT GIVES Us.


Foleer has addressed letter to Speak
er Kiefer, relative to the amount of
silver coin on hand and faculties for its
safe keeping in the sut-treasury office,
showing the urgent necessity for pro-
yiding an additional vault room at
once, for storing silver, and for dis
continuing the coinage of standard
silver dollars. Since tho law passed
February IS 1878, authorizing the
coinage of the standard silver dollar,
new vaults have been built expressly
for storage at the following named
offices:
Year lS7S.-New York sub-ireasury
at cost of $SS.6s7; San Francisco sub
treasury at cost of $l7 059; Philadel.
phia sub-treasury at cost of S. 6S.
Year lSS0-Sau Francisco mint at
q cost Of 81 $40; Baltimore sub treasury
at a cost OF IS 26S; Philadelphia mint
at a cost Of So $50.
Year 1882 San Francisco mint at a
cost Of $4,000; San Francisco sub
treasury at cost of So 955
These vaults are now practically
filled, some OF them to their utmost
capacity. Under the law there must
be coined at the minis ut least 81 000-
600 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monthly, and unless the law is repealed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
S27 100000, lees the amount put
in circulation. The increase in circu-
lation of standard silver money between
Nov. |, 1881, and Nov /, 1882, was less
than million and half The amount
coined IN the same time was S27 ,772 073.
The office of the assistant treasurer in
Cincinnati is in n building owned by
the government hut il has been sold
and is to be delivered as soon Ms the
new building is completed. For this rea-
son and on account of the small amount
of space available no additional vault
was built, and there has been transfer
red from that Office TO other sub treasu-
ry Offices from time TO time to re-
live the vaults since February %,
1878, the sum of $3S, 277 80
in silver The office of the assistant
treasurer at St Louis is in rented
building and in addition to the vaults of
the office available for use, there has
been rented from the Safe Deposit CO.,
of that city, n large vault exclusively for
the storage Of standard silver dollars, at
cost of $l,750 per annum; but the
most serious difficulty will be expert
enced in aiordng relief to the San
Francisco sub-treasury. The amount
reported on hand January II, 1888 was
in standard silver dollars $l4,414 600,
fractional silver ~ .S74 COG, Total silver
$21 ,7SS 6C6, or about G2S tons.
Both new vaults built for that pur-
pose are now about full, and the assist
ant treasurer reports that there is no
further space available in his office for
building another vault The only re-
lief, therefore, that can be given ID to
transfer to some suh-Ireasury in the
east, ut cost of $40 600 for the trans-
portation of each Sl,000,000 transferr-
cd. There is not sufficient appropri.
alton available for payment to transfer
a portion of the amount required TO be
transferred TO properly relieve the Office
nor are the sub treasury offices in the
East in condition to receive that
amount, as shown by the accompany
ing reports of several offices. Amount
in treasury June H. 1888: Standard
silver dollars, 50 4lG S42; fractional
silver, 6,521 SOB Total sum, $500,
538 $50, or about 500 tons.
In view Of the facts stated above and
the reports herewith, it is apparent
this congress should either discontinue
the coinage of the standard silver dol
lars or make suitable appropriations
for building additional vaults in the
east, and for the transportation of sill
yer coin for San Francisco no further
space being available for building an
other vault at that point. The lowest
rates for transportation Of silver from
San Francisco obtainable, is $40 per
thousand dollars.