Evening star. [volume] (Washington, D.C.) 1854-1972, 1890-10-31

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DURING THE FISCAL YEAR AND ITS VALUE IN
| AosEY-uow MUCH WAS USED IN THE ARTS
| LEGISLATION RRcoMMENpEp.
Edward o. Leech, the director Of the mint.
In his annual report shows that the value of
tho gold received was $40 22S, s23. sc and Of the
| silver 37.43S, 7SS.17 standard ounces, of the
Coming vshle OF S43, 565. 1875. The coinage
vas the largest in the history Of the mint, az
gregating 1l2, COS, OIL pieces to the total value
OF go. 25i, 1868. Gold bars we're exchanged
| Tor gold coin, free Of charge, of the value of
tl6,357 ,61I.70. The imports and exports of the
precious metals during the fiscal year aggre-
| gated az follows:
| Imports. Exports. Net loss.
| Gold ......tl3,O97, JAG sl7,35O,193 $4.253, O47
silyer...... 27,524,1 TAT $685. CO., S,545, t55
PURCHASES OF SILVER.
The total amount of silver purchased during
the fiscal year for the coinage of silver dollars
was 30, 9l2, IL standard ounces, costing s26-
S99 1876 SO, average of so. 966S per fnc ounce.
| From the close of the fiscal year to August ID.
the date the new silver act went into effect. the
| amount OF silver purchased was 3, los, 1875. A
standard ounces, costing 5000. 42646. The
| amount OF silver bullion purchases under the
act Of July IA. 1880. which went into effect
August H. to October 81 has been IL. 27G, SIS. 10
hne ounces at cost of Sl4 OBS, l6S. 50, an aver
| age Of 81 l4349 per fine ounce.
COURSE OF SILVER
There was q marked improvement in the
! price OF silver during the year. At the COM
| mencement OF the year the price was ~ ponce
and at the close 47$4. an advance Of 81. pence,
equal to 90 II Clio. The average price Of sill
yer for the fiscal year was So 9GsS3 per fine
ounce.
| Since the close Of the fiscal year the fuctua-
tlons III the price Of silver have covered a wide
| range. To July IA the price advanced TO SI.0S
| an ounce and to August l3 to 81. ID per ounce
The highest price reached in New York was
$l-2l or August 10 and ia London So pence,
equnvnlent to Sl.l9$4, on September ,. The
| price In New York did not vary materially from
| the 18th of August to the Sd Of September,
| Wuen decline took place. extending, with oC-
casional slight advances, TO .he present price
,f'U0. Tie price % silver IN London. a. the
Date OF the passage OF tue ltt OF February e.
1873, wes % pence. equivalent 10 .i.Z05 Per
me olu.re. From tliae rlnn, until Ma, lS.lsss.
, whtu th' lowest price Mas reached. the de clue
III he prce q; silver viii: slight nrerr,is-
sIohs. uH.'crln, th" lowest price vsac bcG being
| il&s pence, eqUiTa!ens to $0.JLZi per tine
ounce.
STOCK OF HONEY IN THE UNITED STATES.
The director estimates the stock Of metallic
money in the United States on July 1, 1890, to
have been: Gold, $685.. 563 029; silver, s463,-
2l1,9l9. Total 81, 15s, TIA 94s The total amount
OF metallic and paper money in circulation,
exclusive OF the holdings of the Treasury OH
June 30, 1880, WAS 81 435, GIG. 612, per capita
Of S22.09, against Il $3.50, 9,09l at the COM
mencement of the fiscal year. an increase in
circulation Of SIS. 49,, 521.
The number of silver dollars in circulation
June 80, 1890, was 56,27S,749 against 81. 457 299
at the commencement Of the year, while tho
number of silver dollars owned by the people:
that Is, silver dollars and silver certificates in ac
tual circulation aggregated 1858, 1874, 9S7 against
s3ll, 6l2, s64 at the commencement of the fiscal
year. The number of silver dollars owned by
tho Treasury June 30. $780, was 1851 40
against Il 1889, 1856 on July /, 1889.
GOLD AND SILVER USED IN THE ARTS.
The value Of the precious metals used dur
ing the last yea. in the industrial arts in the
United States was approximately: Gold &c.
697, 600; silver. S8.767, 900, OF which 1885, 1927
gold and $7297,J32 silver was domestic gold
and silver bullion.
PRODUCT OF GOLD AND SILVER
The product Of gold from the mines OF the
United States during the calendar year 1889 was
1872 800 900; silver, SO. OOO 900 fine ounces; COM
mercial value, s46,75o,OoO; coming value
s64, 646. 1914.
The total expenses of the mint service az
gregated s1,3l9, 436.25.
The total earnings from all sources were
80 soy, S67.01 and the total loss and e1pendi-
lures Sl,576 90, leaving net profit of earn
ings over expenditures during the fiscal year Of
80, 232, 92902.
LEGISLATION REcoMMKNpHD.
The director reviews the coinage legislation
OF the Fifty-frst Congress and recommends the
following measures for the action Of Congress:
l. Repeal or modification of the act of May &c.
1882, authorizing the exchange of gold bars for
gold coin. 2. Recoinage OF the subsidiary coins
in the Treasury. 3. The use of the proceeds of
by-products OF the acid refneries for the ex-
penses OF the same. 4. A new mint Mt Phiia-
delphia.