Savannah morning news. [volume] (Savannah) 1868-1887, 1886-11-06
SILVER'S DEPRECIATION
SIGNIFICANT FACTS IN THE
MINT DIRECTORS REPORT.

The Production of the Metal Steadily
Increasing Despite the Reduction Im
Its VaIue-SaB7. .1O4,254 In United
States Gold and silver Coin in CircuIa-
tion in this Country-The Coinage OF
The World.
WASHINGTON, Nov. 5.-Dr. James PS
kimball, Director OF the Mint, has sub
mitted to the Secretary of the Treasury
his annual report for the fiscal year ended
June 30, 1886. While the volume Of work
executed at the mints during the year
was greater, he says, than that of the pre-
vious year, the expenditures are less by
Sl97, ,0S0. The total earnings of the mints
during the year amounted to So, ,032 $50. Of
which $5,763, ,S57, consisted of seignorage
on silver dollars. The total expenses aud
losses of all kinds amounted to 81, ,429, ,501.
The value of the gold deposited during the
year was $40, ,6O6, 534, of which $32, ,456, ,49a
was of domestic production. The value of
silver deposited and purchased computed
at its coming rate in silver dollars, was /
$37,917, ,026, OF which S32, 454 GA was Of do
mestio production. The coinage of gold
during the year was $34,077, $3.50, against
S24, ,S6l, 1913 in the preceding year; $2T, ,080,-
600 was executed at San Francisco, and
coinage amounted to $50, ,022, BAT, against
SOS, ,S4S, ,059 in the preceding year; $29, $685.
901 consisted of silver dollars and the re-
mainder OF subsidiary coin. The silver
coinage WAS executed at the mints
at Philadelphia and New Orleans. In
addition to the gold and silver coinage,
1,706,65l minor coins were struck, of tho
value of Sl7,377 65. The total coinage
was 3S 1884, ,622 pieces, OF the value of $64.-
III, 100. In addition to the coinage, the
value of gold and silver bars manufac-
tured during the year amounted TO $27,-
| 288,O3 The deliveries on the purchases
OF silver bullion Tor mandatory coinage
of silver dollars amounted during tho
year to 25,2ll,S ,S36 standard ounces, costa
ing 1923, ,44S,00O.
sILVER's DEPRECIATION.
No silver was purchased during the
year for subsidiary coinage. The seigu-l
orage on coinage OF silver from july
| 1878, TO the close of the fiscal year ended
| June 80, 1886, amounted to $3l. .l02, 303.
AT the date of the passage of the act
authorizing the coinage OF the Standard
! dollar, February %, 1873, the London
price Of the silver dollar was 55 pence,
equal TO l.2O5 per ounce fine, at which
| price the intrinsic value of the silver dol
/ lar was 0.935. At no time since has the
/ price Of silver reached 55 pence, the
tendency having been steadily down.
ward.
The value OF gold bullion imported into
the United States during the year was
| S4,073,458 and Of that exported
| $27, 1855, 900. The import of gold coin into
the United States was SIC, $3.50, ,891, and or
that exported $l5, ,440.917.
The import OF silver bullion during the
year was $4,15l, ,438 and that exported
| $40, 7S0, ,656, of which $364,S48 consisted Of
trade dollars.
The director estimates the amount of
| United States coin in the United States
July /, 1886. to have been: Gold,
| $54S, ,S20, OBJ; silver, $30S, ,7S4, ,223. Total,
| 1857, l04, ,254.
THE BULLION.
In addition to the coin there was gold
and silver bullion in the mints and assay
offices belonging 10 the government as fol-
| lows: Gold bullion, "a, ,245, ,430; silver bull
lion, SO, 46S,620, making the estimated
stock OF coin and bullion available tor
coinage in the United States 5000. .027 .304.
| In addition TO the deduction of $50 000, 600
from the estimate OF his predecessor OF the
stock OF gold coin In the country made in
his last report the director has made a
further reduction OF $40, ,324.625 for errors
in the early estimate Of S5O,324 ,69j.
The production OF gold and silver In the
world during the calendar year 1885 was |:
Gold $101 $50 000, SILVER calculated at its
coming value) nearly $l25,OOO,000. Not
withstanding the large depreciation in
the value OF silver, the production of sill
yer In the world has steadily increased.
The United States still preserves the
first rank among the nations of the world
as the largest producer of precious
metals, it's production of gold and silver
during the year having reached the sum
OF 1884. .000, 900, or about two-fiths Of the
| production OF the whole world.
The coinage Of gold by the nations OF
the world during the calendar year
amounted to about $05, ZOO, 900, and OF sill
yer to about $97 100000.