The Kenosha telegraph. [volume] (Kenosha, Wis.) 1860-1888, 1884-08-08
The PHILADELPHIA Mint.

The close of each fiscal year, June so,
witnesses a complete settlement at the
mint. All the coin in the vaults is
counted. and all the gold and silver in
the form of ingots, strips, chips and
sWeepings are carefully weighed to the
one hundredth part of an ounce. Flues
and furnaces are torn out, subsiding
walls cleaned and all parts of the mint
carefully swept. so that so far as posi-
bic every particle of the precious metals
is gathered up. When all the coin on
hand has been counted and all the bull
lion carefully weighed this, with the
amount previously transferred to the
general treasury or paid out under war
rants, is deducted from the amount
charged to the Superintendent and the
operative officers, and the difference is
the wastage resulting from the opera
tons of the year.
To meet the necessary loss in the
operations there is an allowance made
by law. If the wastage is within the
legal allowance, and if the operations
appear to have been conducted with
care, skill and integrity, the settlement
is considered and reported satisfactory.
Under the management of Colonel
SDowden the wastage resulting from
the operations has always been far
within the legal allowance. This year
is no exception to the unbroken line of
honorable and satisfactory settlements.
The following figures will give some
idea of the magnitude of the operations
of the Mint for the past fiscal year just
closed, and will also manifest the skill
and integrity with which its delicate
operations have been conducted:
The total number of five CO. and one
% cent pieces issued was 55, 955, O29,
with face value of 81, ia, 907.73. In
the settlement this account came
out to cent, there being no
loss. The amount of gold bull
lion operated upon was 1905, $685.
troy ounces, equal to 1924, 289, 1870.
upon which there was legal allowance
of wastage in the various manipulations
in converting into gold coin of 1,03491
ounces, equal to $40. 254.30. The act
ual wastage, as established by the set
Element, was but 1886, or $500. 51-or a
loss of less than one dollar in every $31
allowed by law.
The amount of silver bullion operated
on was 51,874, 423.57 ounces, or over
1,778 tons; worth $50, 1871, 125. 25-dol-
lar value. Upon this there was legal
allowance for wastage of 65,059.83
ounces, or $75, 52417, if converted into
standard dollars. The actual wastage
in working this enormous amount of
silver was but 4, 625.67 ounces.
1t will thus be seen that upon a total
of gold and silver operated upon
amounting to So, 179, 999.22 troy ounces,
with coin value of $84, 470, 908 95,
there was total loss of but 1859. IS
troy ounces, with coin value of 3d.
1920; while the actual wastage allowed
by law for operating the same bullion
was 66,094.74 troy ounces--equal to
| 1894. 778.47.
The officers sent from Washington to
conduct the examination and prove the
settlement returned to the Capital highly
gratifed, not only at the care, skill, and
economy manifested in all the depart
ments of the mint, but with especial adj
miration that so enormous a coinage
could have been issued in perfect con-
dition, with so trifing loss, in the
present crowded and cramped condi-
ton of the mint.
In these times, when distrust is wide
spread. and the public are too accus-
toned to extravaganza and loss-if not
dishonesty-in the management Of
moneyed institutions, it is especially
gratifying to present the above figures
in connection with a time-honored Phil
adelphia institution. Colonel Snowden
and the officers under him, are entitled
to the thanks of the Government and
the public for the intelligence and integ-
rity manifested in conducting the deli
cate and important operations under
their charge. Philadelphia Telegraph.