News and citizen. [volume] (Morrisville, Vt. ;) 1881-current, 1884-11-20
THE MONEY WE MAKE.
ANNUAL REPORT OF THE DIRECTOR
OF THE MINT.
Extent of the Gold and Silver COin-Com-
parative Production OF the Precious
Metals Throughout the World.

Extent of the Gold and silver COin-COm-
parative Production of the Precious
Metals Throughout the World.
The Director of the Mint has sub
mitted to the Secretary of the Treasury
his annual report for the fiscal year
1884. The report shows that the depos-
its of gold during the year amounted to
SAG, 1926, 679, of which over 500, 900, 900
were of domestic production. The sill
yer purchased for coinage and deposited
for bars amounted at its coinage value to
$36, 500, 900, of which over $31, 600, 900
was of domestic production. The total
value of the gold and silver deposited
and purchased, including redeposits,
was $97, $50, 155, being about the same
as during the previous years. The coin
g amounted to $57, $50, 921, of which
S27, 932, S24 were gold, $2S, 973, 1877 sill
ver-the latter, except about $673, 900,
in silver dollars-and 81, TIA, 7O9 of
minor coins. The coinage of gold was
about So, 900, 900 less than in the previ-
GUS year.
In addition to the coinage executed
for the government, 81, OOO, 900 in silver
was struck at the San Francisco Mint
for the Hawaiian Government, in de-
nomination, weight and fneness CORE
spending with the coins OF the United
States, but bearing Hawaiian devices.
Besides the manufacture of coin, gold
bars of the value $23, 875, $50 and silver
bars of the value of 81, 1883, 724-a total
of $31, 5l5, 310-were prepared at the
minis and assay offices. Gold bars were
paid out in exchange for gold coin dur
ing the year, under the provisions of
the act Of May 26, 1882, to the value of
$25, SOC, 900.
Over ID 900, 900 ounces of bullion,
S25, 600, 900 worth of gold
ia<1IEanf si,Sar, were rSk
HHe1 al Drshnefies connected with
the mints aid New York Assay Office.
The average price of silver bullion at
New York was 81 II. Sc per ounce, and
the cost OF silver purchased during the
year was 81 11.2. The purchases aver
age a trife over 50, 900. 900 a month.
The profits of the year on the coinage of
silver dollars amounted to So, $3.50, 672,
and on subsidiary silver $102, 651.
The profits on the coinage of silver
from the first of July, 1878, to the close
of the fiscal year ended June 30, 1884,
have amounted to 800, 972, 913, which.
with the balance of 1924, 725 on hand at
the date first mentioned, have, after
paving the expenses of distribution and
the losses and wastages incurred, been
deposited in the Treasury of the United
States.
The number of silver dollars distrib-
uted during the year amounted to over
II, OOO, 900. The total amount estimated
to be in active circulation on the LIST OF
October, 1884 was over 40, 600, 600, being
an increase of 5 1000, 900.
The total expended from appropria-
tons for the support of mints and assay
offices during the year amounted to
81, 291, 977.
The charges collected of depositors for
parting and refining bullion amounted to
1868, 489, for which $247, 1913 were used
in paying the expenses of the opera
tIons.
The total earnings and gains from all
sources amounted to $543, 102 and the
total expenditures of all kinds amounted
to 81, 676, 002.
The assays made by the annual Assay
Commissioners and the monthly assays
of the Assayer of the Mint Bureau show
that the coinage of the year was in all
| GASES Wllulu bu0 l1Dulb " lO1Cld11CC uhO
close to the standard of fineness.
Examinations of the mints and assay
offices are made during the year by the
Director or his representative, and the
coin and bullion at each weighed and
counted and found to agree with the
amounts called for by the government.
The Director estimates the production
Of the mines in the United States for the
calendar year 1884 at gold, $29, 900, 600;
silver, 48, 900; which is about
81, 900, 900 less IN gold and not quite
50, 900, 900 more in silver that for the
previous year.
Replies received to circular letters sent
to persons and firms engaged in the
manufacture and repair of articles of or
namentatian@nd-useLint United
States show an annual consumption OF
the precious metals for those purposes
of over $40, 600, 600, of which $14, 500, O0C
were gold and SIS, 500, 900 silver.
The Director estimates the amount OF
coin in the country on October l, 1884, to
lave been:-Gold, $557, 900, 900; silver,
S257, 900, 000-a total of 1914, 600, 900.
He arrives at these figures by adding tc
his last estimate the coinage Cess re-
coinage) and exces of imports, and de-
| ducts the amount used in the arts and
manufactures. Counting as part of the
metallic circulation the bullion in the
minis and assay offices belonging to the
government, which amounted October
to nearly $50, 900, 900 in gold and about
SIS, 900, 900 in silver, the total amount Of
coin and bullion available for coinage at
that date in the country would be-
Gold, $610, 900, 900; silver, 1892, 600, 900
"a total of 1872, 900, 00O.
The total specie and paper of all kinds
used as money in the United States on
October /, 1884, the Director estimates
to have amounted to 81. 800, 900, 900, be-
ing an increase of over $75, 600, 600 in ex-
cess of that in the country at the same
! date of the previous year. Of this
amount over $500, coo, 900 was in the
Treasury and $l,3O4, 900, 900 in banks
and general circulation. Deducting the
amount held by national banks leaves
about 81. O94, 900, 900 in the hands of the
general public and banks other than ma
tional.
The production of the precious metals
in twenty-one countries appears to have
! been for the calendar year 1888, about
S94, 600, 600 of gold and $114, 900, 900 of
silver. being 81, 900, 900 less in gold and
n like amount greater in silver than re-
ported for the previous year, resulting
a diminished production of gold in
Russia and the United States, and all in
creased production of silver in Bolivia.
The coinage in 1888 of twenty-three
of the principal countries of the world
amounted to over $101, 900, 900 in gold
and $l13. 600, 900 in silver. OF the silver
coinage nearly one-fourth was executed
in the United States and two-ffths by
Mexico and India.
In the coinage of gold the United
States still stands first, Germany follow
ing with a coinage of $21, 900, 900, Aus
traIia $3.50 600 and Russia over
$12, 600, coo.
The director has tabulated the infor-
nation in relation to circulation received
S.assxlsA Saus nations of the world.
Iation of paper and specie OF
thirty-ninS of the PRINCIPAL countries
aggregated SO, 991, 000, 900, of which s.
298, 600, 900 was gold and 50, 754, 600, 900
silver.
The amount of government paper
money outstanding in these countries
was 81, 19l, 900, 900, to protect which
their treasures held 1858, 900, 900 gold
and 1910, 900, 900 of silver, a total of
1888, 900, 900, and bank notes were out
| standing amounting to over 50, 752, 000,-
nOn - which tho hor1ze LoIl