The Opelousas courier., 1883-04-07
Government ProAt ON Coinage.

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Some curious facts relating to uure-
deemed obligations of the Government
have been coIlated by the New York
Sun, which show a considerable source
of profit to the United States Govern
ment. The amount of paper money
and coin which is never presented fof
redemption comprises a large sum.
Much of this is destroyed by fire. Some
of it is buried or hid in places known to
no person alive. A large quantity of
the coin is melted to make sterling sill
Considerable amounts of
both paper money and coin are export
ed never to return. Not long ago IL
United States bond, issued about 1919,
was presented ut the Sub-Treasniy III
this city. The interest o, 1t had ceased
over fifty years. II had CONF back from
Europe through Barring Brothers. The
outstanding principal OF the public debt
of the United States last year was near
" two billions ai dollars. chiefly r+ih"-
scented i,y bonds and treasury ii"!es.
II would b.. o: ,uurst., impossible" 10
SAY how much OF thin will nerti h" pre-
serted for redemption. but some i"ea.
max be formed from The fact that $751;
Cts of il was issue $40 long ago that TIE
| date is not recorded. 1t appears ~ he
,eport as .'old debt that may safely
be put down as profit. There is an
item of $50, 525 of treasury notes issued
prior to 1916. Some Of them were is
sued nearly fifty years ago, AUG VIII
not, in all probability, erer be repre-
sented for redemption. One thousand
one hundred and four dollars Of the
| Mexican indemnity of 1916 has never
beef, claimed. The last of the fraction
al currency Was issued under the act ut
June G., 1864, yet, although nearly
twenty years have elapsed, $7,077 ,247
has not been presented for redemption.
, SOME of this il held as II curiosity.
| Some of it is still used by banks a'i.l
merchants for transmitting small SUNS
by mail. Several New York banks
have considerable sums of new fraction
al currency, which they distribute for
the accommodation # their customers.
A. 10 the cuin, the Government de
riyes Il considerable profit tinih il. Tho
| silver III one thousand silver dollars
costs, OH All average, about S5O3.7o.
The Coinage of a silver dollar costs
about Ii cents. The total o 5 OF one
Thousand silver dollars to the Govern
nlsl,t is therefore S8l6.25. Since lie
organization of the mint, in 1898, 49,,
l9D,6IS silver dollars have been eeilsd,
on which the Government has received
a profit of over twenty three millions OF
dollars.
In the same period Sl22, 758 $40 was
coined into half dollars. At the same
rate of cost for coinage the Government
profited $40, 395 ,769 on these. The to.
tai silver coinage of the Government
since 1898 is $347, 766, 792. Estimating
the profit on the halves, quarters, and
subsidiary coins at the same rate as or
the dollars, the total profit received by
the Government ON its silver coinaga
has been about sixty-four millions o
dollars.
In the coinage of the five cent nickel
the Government reserved to itself til,
liberal profit of nearly so per cent
This gave to the Government last yea
the handsome revenue ofover $4,000
from nicksls alone. The wide margin
between the intrinsic value of the Nv
cent nickel and its face value led to OK
trsme ceunterfeiting. Several year
ago an essay was made of some of th
counterfeit nickels, and it was discover
cd that the eounterfeitsrs had put int
their coins more valuable metal tina
the Government uses in making th
genuine coins.