The Mineral argus., 1884-10-16
THE PHILADELPHIA 1EINr
Millions of Money Coined and Only a
Frihe wasted.

Millions of Money Coined ana Only a
Trihe wasted.
Philadelphia Telegraph,
The close of each fiscal year, June
30. 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-h undredth 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 pos
sible every particle of the precious
metals is gathered up. When all the
coin on hand has been counted and all
the bullion carefully weighed this, with
the amount previously transferred to
the general treasury or paid out unde
warrants, 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 Il the
operations there is an allowance made
bv law. Ifthe wastage is within the
legal allowance, and if the operations
appear to have been conducted with
care, skill and integrity, the settle
ment is considered and reported salts
factory.
Under the management of Colonel
Snowden the Wastage resulting from
IL -..z.kso,1 10. a1urouu 1aan fap
within the legal allowance. This year
is no exception to the unbroken line
of honorable and satisfactory settle
ments. 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 90 and one
a. cont pieces issued was 80, 955 ,029,
with a face value of 81. 174, 907 73. In
the settlement this account came out to
a cent, there being no loss. The
amount of gold bullion operated upon wa
1905, $3.50 8 troy ounces, equal to $24,-
289. 779, 20, upon winch there was a
legal allowance for wastage in the var
ious manipulations in converting it into
coin of 1,034.91 ounces, equal to $19,-
254. 80. The actual wastage, as estab-
lished by the settlement, was but 1886
ounces, or $500. 51-or a loss of less
than 81 in every $31 allowed by law.
The amount OF silver bullion operat-
ed on was 81 ,874, 423.5 81 ounces, or over
1,778 tons; worth $50, 1S1, 125. 25-dol-
lar value. Upon this there was illegal
allowance for wastage of 65,059.83
ounces, or $75, 524.17, if converted into
stamped dollars. The actual wastage
in working this enormous amount Of
silver was but T., 625. 81 ounces.
1t will thus be seen that upon a total
of gold and silver operated upon amount
ing to 5 3,179, 1893. % troy ounces, with a
coin value of SS4, 47O, 90S. 95, there was
a total loss of but 4,659.3 80 troy ounces,
with a coin value of So, 912.20; while
the actual wastage allowed by law for
operating the same bullion was sc, 094. IA
troy ounces-equal to $94, 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 departments of the mint, but with
especial admiration that so enor-
nous a coinage could have been issued
in perfect condition, with so trihing a
loss, in the present crowded and
cramped condition of the mint.