The Middlebury register and Addison County journal. [volume] (Middlebury, Vt.) 1883-1885, 1883-11-16
THE UNITED STATES MINT.
Report Of Its Operations During the
Past Fiscal Year.
The Gold and Silver Coined--Sugges-
lions of the Director.

Mr.. H. NJ. Burchard, the director of the
mint, has submitted his annual report show
ing the operations of the minis and assay
offices during the last fiscal year.
The receipts of gold bullion fell off from
those of the previous year owing to diminishe |
gold imports, but the receipts of silver bullion
for bars and coinage slightly increased. The
total amount of gold and silver received and
operated upon was SS1, 15S, 1j4 of which S49,-
1869 was gold and S3S, 612, 595 was silver.
The coinage of the year corsiste ed of u.s.
G6,62i piecos,of the value of S66,20), 1Oj
The number of pieces struck was greater by
about Ii 900, 00J than in any other fiscal year
since the organization of the mint bureau.
The total coinage of gold was S25936,92i.
The value of the silver coinage was SIS, 3d.
40, of which S2S, ,1l9 was in standard
silver dollars The profits on the coinage of
standard dollars during the year were So
fOl So, and on fractional silver 81, 100. The
net silver profits for the last five years paid
INTO the treasury were Sl6, S60,3lO
Under the provisions of the act Of ISIS,
requiring the coinage of S2,0O0,OOO worth of
silver bullion per month, Sl5l,31O 800 have
been coined prior to October |, 1883, and that
amount, together with the sSl 100000 of frac-
tional silver in the country, making a grand
total of S235 900, 600, is, in the judgment of
the director of the mint in excess of the re
remarks, is apparent from the fact that
there are in the vaults of the Treasury 80
COO, 900 standard silver dollars over ard above
the outstanding silver certificates, and i'll adj
diton to nearly S21 ,000,0hO in fractional sill
yer COMA total of ScG,00,0OO He thinks
the question again presents :tse for the CON
siderat!on of legislators whether the law di-
recting the monthly coinage of not less than
S2,WO0 worth Of silver bullion into stand
ard dollars should not be mo iifiel Or re-
pealei. AT the beginning of the fiscal year
the mint had on hand S35.&5,612 standard
dollars; the coinage amounted TO S2S, ll1,l19,
and at the close of the year there were re-
m9ining in the mints Si3,30L5D.
The director recommends that the coinage
of the gold dollar ard of the three-cent
nickel piece he discontinued. The repeal of
the act authorizing the coinage of the trade
dollar is also recommended. a considerable
number he'd probably gone into circulation
prior to its characterization i'll 1876, and
probably from five 10 seven millions are
now held in the country, mostly i'll the min
ing and manufacturing regions of Pennsyl-
vania, and in the vicinity of New York.
While the United States has incurred no legal
liability, nevertheless, b. tn act OF the gov
ernment, these coins Were at first put into
circulation and given compulsory currency,
and many remain in the hands of those who
can i'll afford to suffer from the depreciation.
He says it would therefore seem to
be only an act of Justice to them
10 permit these coins to be sent to
the mints and exchanged for other silver
coins, into which they could be protitably re
Dined. The director believes that no cause
exists for the apprehension that a large num-
Der of exported trade dollars would be re
turned to this country for those sent to
China have ION account of Their greater value
as syCee silver than as coin been melted or
disappeared in the interior of that country.
The production of gold for the current cal
endar year will probably he so 900 less than
in 1889, and that of silver at least S2,0J00O0
greater, which will make the production So
The consumption of gold in the arts and
manufactures was fully equal to that in the
previous year, or about $4,000, 1000; the
amount of silver thus used was about half u
million dollars less than last year, being S.
$4,000.
Director Burchard estimates the total coin
circulation of the United States July !, 1883,
at S165, C0J,C0j, of which S531,00O,0OO was
gold and s!2S, Oc0, 001 silver. The estimate of
the circulation of United States coin October
|, 1883 is Sj44 ,5l2, $50 Of gold and S335, 29l,
G23 silver.
The report Likewise contains information
relative to the monetary statistics and fnan-
cial affairs of foreign countries. The produc-
ton of gold in twenty countries is placed at
SOB l6l .5:2, and of silver SlWl, 4AG $50, show
ing decrease from the previous year of 81,
O00,uO in gold and an increa sc of S6,OJ0,0OO
i'll silver. The coinage of twenty-four cOun-
tries was S9J,yOj,"Sj gold and Slp1 .H1 ,951
silver. The paper aud specie circulation is
given for thirty eight countries, OF which the
pal er circulation i s3,S}2. 92J ,.D3. the gold
circulation $3,353. 43}0JO and the silver cir
culatiCn 81, az, 226, OG0.