The morning news. [volume] (Savannah, Ga.) 1887-1900, 1889-05-11
COMING MONEY FOR PROFIT.
How Uncle Sam Gathers Millions
From His Stamping Machines.


From the NeW York Star.
The other day the treasury department
issued circular proposing to ship free of
express charges to persons desiring them
nickels and pennies in certain quantities on
receipt of their face value. The offer sug-
gested some inquiries in regard to the cost
of these coins aud how it happens that the
government can afford to ship hem at par
value and pay express charges upon them.
The story of the lckel Is an interesting
one. Very few people in this country
imagine how much profit Uncls Sam ma kes
out of the stamping Of these all coins
The actual cost Of nickel to the govern
nIent is not much more than ree-quarters
of a cAnt. Formerly the metal wa, fixed
planed and prepared for use in the national
workshops at the va ious mints but now
the metal is pu chas ed and prepared by
outsiders unde' co tract. All the Cover i
me { does now is to pnt It's sta up upol The
b anks and then gather in its profit On their
circulation.
The total amount of these coins issued in
ear will average alb ut 5000 ID as
very few of them re0IrA to pa que the
governme {, the actual profit TO the
national treasury can be easily calcuIa o /.
Nickels ana pc mes are, Of course, red 2 n
able by the treaSury in other money wac
demand is made, but that occurs only
occa 10 lally, a Il en- the C ms are sent to
the mint, cleaned up and sent into circula-
ton gain.
1t is about the same sto-y in reference to
penn eS. The gov rnment buys tue metal
out of whcl they are ma ie ready for use
aud pays so much a pound for it whe 1t is
cu5 and prepa ed for stamping. Then the
mint puts the legal mark upon the coins,
and they are ia ned olt by the million.
What DO they cost Well, every cent that
is coined brings Ia profit of three-quarters
OF cent 20 g goyerln nt Mo pe a. :
than uicke.s are returned o the treasury
exchange for other money, but they are
sent promptly TO the mi II, aad soon get
ilto tho hands Of the public once again.
bronze pc ny or nickel ; cent piece
does not wear out as rapidly as q dollar bin.
But there is s.ill another source Of prof,
70 the government in g issuing of these
small coins. One of the most expert q
men at tue sub .reasu y in Wall street. de-
clared day or two since TIA. there ere
still IL ezlste CO somewhere, floating about
the un:ry, punched IN in old stockings or
in Z e hands OF curiosity collectors. over
l0000J,O0O OF thu o d-fashio ed ccpper
cents, about 20,OJ1,0JJ of copper-nickel
cents, 10000, 900 of the present issue Of
bro ze pennies, 25.OO0,O0O of ickei Scent
pieces and about 20O. 900, 0of nickel scent
piccs. The total value Of these outs .anling
MN coins is, rut in rJuld number,
Sl2j 100000, and every dollar of this il
ABSOLUTE profit o the goverum mt
The coinage # silver nj .ces is done
mainly by the national mints, and, strange
to stay. there Is more profit in the work
than anything else that the mint doe
1 der the present law the trea " is e.
quired TO bay aud coin a least $500. 900
worth Of silver into dollars. This s.. 900.
O0O worth Of silver uIakes nearly a.. 25OOlO.
81 that the profit on the moulhy purc as
aud coinage 81 silver dollars S FULLY ESQ.
OJO. 50 the profit on the silver dollars. Won
500, Is about 5000 QUO a year or more.
nd ling 10 IL the proht on the pen - aid
aud nickels bringsit up 70 nearly $40, 200, GOD