The morning news. [volume] (Savannah, Ga.) 1887-1900, 1892-04-19
PRODUCTION OF METALS.
A REPORT BY THE DIRECTOR OF
TIE MINT.

The Gold Product of the Mines in the
Country IN the Year 1891 1904, 94C
Ounces of the Value Of $33, 5000
The Product of Silver $4,000
Ounces of the Commercial Value O.
S57,63O,o4o.
WASHINGTON, April 1S.-E. o. Leech,
director OF the mint, has transmitted &c
congress a report of the production Of the
precious metals, covering the calendar year
1891. The product of gold from the mines
of the United States aggregated 1904, $40
fine ounces, of the value of 1888, us, 900.
This is an increase of $50 900 ounces over
the product Of the previous calendar year.
The increased product is due largely to im~
proved processes Of treatment aud to the
increased amount of gold extracted from
lead and copper ores.
The product OF silver from our own
mines was 5S,S40,OO0 fne ounces, Of the
commercial value Of S57, $50 O40. or Of the
coming value in silver dollars OF SIS, 416, :
565. This is an increase of $4,000 ounces
over the prior year. The increased silver
product was due principally to new finds in
Colorado and Idaho and to cheapening Of
the processes of smelling lead and copper
ores bearing silver.
PRODUCT OF THE REFINERIEs.
The total product Of the private and
government refineries in the United States
including foreign materials smelted and
refined, was: Gold, 2 1863, S63 fine ounces;
and silver, Sc, 1856. AIS ounces. The total
value of the gold deposited at the mint
during the year was $70,9l5,632 Of which
S24, $50, $50 was foreign coin and bullion. The
70 nd If
rs, 0SS, 626 standard ounces, of the coming
value OF $S5, 04S, 5s4.
The amount of silver purchased by the
government during the year was 81, 493, 9l2
fine ounces, costing S53, 100. S93. The aver
age cost of the silver purchased during the
year was so $50 per fine ounce. The aver
age cost of the total amount purchased
under the act Of July IA, 1890, has been
81 o. per fine ounce.
PRICES OF SILVER.
The prices of silver at the commencement
OF the calendar year 1891 was SL058 per
fine ounce and at the close, Dec. 81, was
So 955 per fine ounce The average
price for the calendar year was 5000 per
fine ounce. At the date of the passage Of
che act Of July A. 1890, the price of silver
was 81 on per fine ounce; at the date the
law went into affect, it had advanced to
81 Is. The highest point touched was
on Aug. ~, loSO, 81 Il per
fine ounce. The lowest point touched was
March %, 1899, 90. $50 per fine ounce. At
the lowest price of silver during the year
the commercial value of the pure silver
in the dollar was 80 1874; at the highest
price 80 $780, and at the average price
so 1854. At the price Of silver on March
IS, 1892, the commercial value of the pure
silver In the dollar was 80 GO.
COINAGE OF THE MINIS.
The coinage of the United States mints
for the calendar year 1891 aggregated In
value S53, O53, 1902, of which S29, 222, COS was
gold and the remainder silver and subsidiary
coin.
Gold bars were exchanged for gold coin.
for use in the industrial arts, of the value of
S12. 495, O94.
The imports of gold aggregated S45, POS, =
928 The exports Of gold aggregated S79,-
1889. The net loss Of gold was $33, $685.
ST..
The imports of silver aggregated s27. 91O.-
1885, The exports of silver aggregated
S28. 7S3, 1893. The excess of exports over i'm
ports was SS73, 200.
The total metallic stock Of the United
States on Jan. l, 1892. was: Gold $685., 665,-
I'll; silver $547 ,131 $40; total 81. 1885, 1896 S81
against metallic stock on Jan. l, 1891, of
gold sSO4 .597. 1913; silver 1886. 545 ,o76; total
81, 19l, 142, 204.