Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1891-07-02
TILE oAaIxEr sEss1nN



dent and Hts Secretary Are Not
Together on Finances.
WAsHiNGToN, d. O., June 26-'rLe cabi-
net meeting to-day lasted nearly three
hours, indicating that the discussion was
not confined to the silver-coipAge ques-
ton. Foster, who wanted silver coinage
stopped out of regard for eastern SEMI
| ment,, and Harrison, who wanted II con-
| tinued out OF regard for western sentiment,
soon reached an agreement In the compro-
mise which had been suggested to Foster
| IN Wall street, of coming the trade.dolar
bars. putting off the main question until
after this campaign, and thus TEN porizing
with both east and west.
Then came a discussion of the treasury
situation, and 1t is understood that it was
concluded, first. to change the debt state
inent so as to make as favorable showing
as possible for the treasury; second, to
withhold all public works appropriations
after the LIST OF July, and third, TO extend
the september bonds, probably at 2 per
cent, Foster insisting that the Presidents
10 per cent scheme is not practicable.
The trade-dollar bullion which is TO be
coined into standard silver dollars is stored
N the minis at Philadelphia and New
Orleans. IL results from the melting into
bars of trade dollars redeemed at their face
value under the act of March Sd, 1887, pro-
viding for the redemption Of all such coins
not mutilated, defaced or stamped, pre-
scented within six months from the date Of
the act. The total number OF redeemed
was 1852, J36, n portion of which have al
ready been coined into subsidiary coin.
The act of March ID, 1891, provided, how
ever, that the balance should be coined
into standard silver dollars only, and that
this should be done "as soon as practi-
cable"
The amount stored ut Philadelphia is
l.3S5, 425 fine ounces, and the amount at
New Orleans S03S $50 fine ounces. This
VIII make in all about So, l4s,2sl in
standard silver dollars, net profit above
its cost of little over 5000, 000.
II will take from three to four months to
execute this reroinage at New Orleans. and
about Two months to coin the stock at
Philadelphia.
A large amount Of subsidiary silver and
mint Coins will also have to be recoined at
Philadelphia during the same period
: Inc last Congress made an appropriation
OF Slou, for the recoinage Of the uncur-
rent fractional silver coin now in the
treasury, abradea below the limit of toler-
ance. This is about as much as has been
appropriated for the last six or seven years
altogether. 1t is estimated from what has
already been recoined that the loss which
this appropriation will reimburse will be
about per cent, that is, ii will pay the
100000.
The demand FOR dimes continues una
Dated, and most Of the rccoiuage for the
present will be Of that denomination, al
though 2o.cent pieces may also be coined
at san Francisco.
i is proposed TO distribute this recoin-
age between the mints at san Francisco,
Philadelphia and New Orleans. BY law
The coinage Of minor coin-l-cent and g.
cent pieces--is confined to the mint at
Philadelphia. This coinage has been very
heavy for several years past
The coinage ut the mints at San Fran
CISCO and Carson City, after July LIST, will
be confined 70 gold pieces and such recoin-
age OF subsidiary silver coins as may be re-
CURED OH the Pacific coast.