Fisherman & farmer. [volume] (Edenton, N.C.) 1887-19??, 1890-05-09
PRECIOUS METAL PRODUCT.
Report of the Director Of the
United States Mint.
The Heavy Coinage of Gold and
Silver Last Year.

Edward O. Leech, the Director of the
United states Mint at Washington, has sub
,,jtted 10 Congress q report on the produc
+i,n Of the precious metals for the calendar
,..aI. 1850 from which the following figures
are taken:
The gold product of the United States was
- go fine ounces Of the value Of S32, 800
~ against $:}3. 900 90 in the preceding cal
aglar year. OF the gold product of the
T-uitct States $3l $50 047 was deposited at
tbn minis for coinage and manufacture into
bar,
The silver product of our own mines for the
calendar year 1899 was approximately So
,unuy4 fine ounces of the commercial value
n SO 30 OOJ, and OF the coinage value Of
Sf4 r4G 1G4, against an estimated product
T,,r the calendar year 1888 of 45, 1913, G}2 fine
ounces. Of the commercial value of S43 O2O,-
gy9 and Of the coinage value Of S19, 1873, 900,
an increase over 1888 Of about + PIG, 3tS fine
ogurcs. Of the commercial value of So 49,,
rr1.
I'm addition to the silver product Of our
mines about 1000, go ounces Of silver were
extracted from lead ores imported into the
limited States and Sneltei in this country,
and over ;, 900, 900 ounces from base silver
bar, imported, principally from Mexico,
making the total product of our mines, smel.
ter, and refineries about 81 900, 900 fine
o,Inces Of silver. OF this amount the Gov
.rument purchased for coinage q, 125, 357
ounces. there were used in the arts about g.
OOy 900 ounces; there were exported to Hong
Kong Japan. and the East Indies about o.
900 900 ounces and there were shipped to
London for sale about 20, 900, 900 ounces
Colorado still maintains first rank among
producing States with an aggregate product
vi gold and silver Of over $24, OOO, 900. Mon
tana stands next with product of So, S94,
co., California produced S14 034, OOO OF
which %l3OO0,O 90 were gold, being about
two-hfths Of the total gold product of the
United States. Utah shows a largely in
creased product notably in silver. Idaho
and New Mexico report an increased product,
and Arizona and Nevada reduced product
for 1889 The gold product Of Dakota
lSouthJ Increased from 81, GOO, 900 in 1888 to
S2,gJO0OO in 1889 Oregon and Washington
both report increased products, the former
having produced 81, POO, 900 in gold The
States OF the Appalachian range show a
slightly increased product Of gold over 1888.
The coinage of the minis for the calendar
year 1889 was as follows: Gold pieces, !, 33S
or: value $21 Alb 93l. Silver dollars pieces,
a 50. 81; value $34, 651. S11. Subsidiary sill
yer coins pieces, s. 378, 81; value, 1914 872 Is.
Minor COINS pieces 81 ~. 28:}: value ST 2S3,-
4O5.49 Total pieces, 100, 40, 9l7; value, S5S,
1874, W. IT. In addition to the coinage, gold
aud silver bars were manufactured at the
mints and assay offices as follows: Gold, $22,
$40 152 %; silver, s., 222, Isl 90; total, $2S-
81, DOB 81. Gold bars were exchanged for
gold coin free of charge Of the value of $2G,-
0l3 113.
The quantity of silver purchased for the
silver dollar coinage was q 121, $50 fine
ounces, costing $25 $40, 80, an average cost
Of 1856 cents per ounce fine. The amount
Of silver offered the Treasury Department
for sale during the year aggregated 1885,,
700 fine ounces.
The total amount of silver purchased for
the coinage Of the silver dollar from March
l, 1919, to December 81, 1889, was 271, 633, SOB
fine ounces costing 1921 470, $50, an average
cost Of 81 Is per Dunes fine. The coinage
Of silver dollars for the same period was
3499}S, OOl pieces At the average cost of
silver for the whole period the cost value
Of the silver dollar is eighty-twO cents.
The average price of silver in London during
the calendar year was 93.5 cents per fine
ounce, and the average price of fine bars of
silver i'll New York during the same period
was SO. s cents The highest price reached
during the year was 44A pence, and the low
est price was II 15-iG pence The shipments
of silver to India during the year aggregated
1000, OOO and the amount realized from the
sale OF Indian Council bills about ST OOO-
900.
Thenet loss Of gold and silver to the United
States by excess of exports over imports of
the precious metals was as follows: Gold,
SIS, $50, 153; silver, $14, 78S 666. Total $53,-
61J,4l9.