St. Landry democrat. (Opelousas, La.) 1878-1894, 1884-08-23
The PhiIaAeIrhia Mint.

Enc RHlla0HlpHM h1nsS
The close of eaon nscal year, June 50,
witnesses complete settlement at the
mint. All the coin in the vaults is
counted, and all the gold and silver IN
the form of ipgots, strips, chips and
sweepings are carefully weighed to the
one hpndredth part of an ounce. tlues
and furnaces are torn out, subsldlng
walls cleaned and ali parts of the mint
carefully swept, so that so far as posi-
BILE every particle of the precious metals
is gathered up. When all the coin on
hand has been counted and ali 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
Spowden the wastage resulting from
the operations has always been tar
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 (5) and one
~ cent pieces issued was $500, wy,
with face value of 81, ia, 907.73, In
the settlement this account came
out to a cent, there being no
loss. The amount Of gold bull
lion operated upon was 1905, 575.6 TO
troy ounces, equal to S24, 289, 1870,
upon which there was legal allowance
OF wastage IN the various manipulations
in converting into gold coin OF 1,0S4.91
ounces, equal TO $19,254.30. The act
nal wastaae, as established by the set
Element. was bait 1886, or $500 51-or a
loss of less than one dollar in every SSl
allowed by law.
The amount of silver bullion operated
on was 51,674, 423.57 ounces, or over
Its tons; worth $50, 181, 125. 25-dol-
lar value. Upon this there was a legal
allowance for waStage of 65,059.83
ounces, or S75, 524.17, if converted into
standard dollars The actual wastage
in working this enormous amount OF
silver was but 4. 625. 81 ounces.
1t will thus be seen that upon total
of gold and silver operated upon
amounting to 1919, 1892 troy ounces,
with a coin value of $84, 40, 90a95,
there was total loss of but 4.659.35
| troy ounces, with coin value of So
9I2. 20: while the actual vastage allowed
by law for operating the same bullion
was 66,O94.74 troy ounces--equal to
1874, 778.47.
The officers sent from Washington to
conduct tie examination and prove the
settlement returned to the Capital highly
| pratifed, not only at the care, skill, and
economy manifested in all the depart
ments of the mint, but with especial adj
miration that 80 enormous coinage
could have been issued in perfect con-
| dition, with 50 tr;f1ing a loss, in the
present crowded and cra1nped condi-
ton of the minis.
In these times, when distrust is wide
spread, and the public are too aoct1s-
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 SDoWden
and the officers under him, are entitled
to the thanks OF the Governments and
the public for the intelligence and integ
rity manifested in conducting the deli.
cate and important operations unde'
their charge. HA6tadelf1JesG Telegraph