St. Paul daily globe., 1893-06-14
Secretary Carlisle Details the
Operations Of the Mint
Since 1892.
From That Time to 1878 Only
S,O45, 1888 Silver Dollars
Were Coined.
More Than Fifty Times as
Many We're Minted Since
1878.
The Treasury Today Holds
124,292,532 Ounces of the
White Metal.

WASHINGTON, June ia represent
ative of the Associated Press, in conver-
sation with Secretary Carlisle, sug-
gested to him that there was lack OF
precise information touching the amount
of silver coined UP to the present time,
and also as to the manner in which the
present operations of the treasury under
the so-called Sherman act result III the
payment of gold in the purchase OF Sill
yer bullion. III reply to these suggeS-
tions Secretary Carlisle said:
1.-The operations of the United
States mint commenced in 1892, and
from that time to 1873, period OF
eighty-one years, the total amount
of silver dollars coined was $685.
S3S. In 1878, the coinage was stopped
by act of congress, but in 1878 1t was
resumed under the so-called Bland
Allison act, by the terms OF when
the secretary of the treasury was dl-
rected to purchase and coin into stand
ard silver dollars of 41219 grains each
not less than 81, 100000 worth nor more
than 100000 worth Of silver bullion
each month, and between the date OF
that act and the 14th day OF July, lS9O,
period of twelve pears, there was
Coined S37S, S,I66,793.
In addition to this there has been
hoined from trade dollars S5,07S,4 472, and
from the seignorage of bullion purchas-
ed and coined under the act of July IA.
1890. the sum of Sc, Gal, 109. making the
aggregate 1889, $50, 374 in full legal ten
der silver money issued by the govern
ment since 1878. OF this amount only
S5S.O16. .O19 were in actual circulation on
the first day of the present month, the
remainder being held in the treasury
as part of the assets of the government,
or being represented by outstanding
certificates. The act of July IA. 1880,
required the secretary OF The treasury
TO purchase 100000 fine ounces of sill
ver bullion each month, and it pro-
yided that he should continue the
coinage of silver dollars at the
rate of $2,0OO.0o0 per month until
the first day OF July, 1891, and under
this act there have been coined S29, 4OS,-
46l. which makes the total coinage OF
silver dollars under all acts since 1875,
S419. .294. .S35, or more than fifty times as
much as was coined during the previous
period of eighty-one years. In addition
to the
silver Bullion Purchased
by the government since 1878, and
coined as above stated: the secretary or
the treasury has purchased under the
act of July IA, 1890, and now holds IN
the vaults of the treasury uncolned l24,-
292. .532 fine ounces of silver bullion,
which cost the people OF the United
States STA. 299, 920, and is worth today
at the market price of silver sos, III 800,
thus showing a loss of SlO,SSS, ,534.
By the terms of the act the secretary
was required to pay for all silver bullion
purchased by the Issue of United States
treasury notes, payable i'll com, ana II
provided that upon demand or the
holder of any such notes they shOulC Oe
redeemed in gold or silver coin, at the
discretion of the secretary, 1T Delng'
in the language of the act, tine
established policy of the United States
to maintain the two metals on parity
with each other upon the present legal
ratio. or such ratio as may be provided
by law In the execution OF this de-
cared policy of congress 1t is the duty
of the secretary of the treasury, when
the necessity arises, to exercise all the
powers conferred upon him by law IL
order to keep the government III con
ditiOn to
Redeem Its Obligation
I'm such coin as may be demanded, ant
to prevent the depreciation of either as
compared with the other. The records
of the treasury department show tha
during the thirteen months beginning
MAY 81, 1892, and ending May l, 1893, the
coin treasury notes issued for the pur
chase of silver bullion under the act o.
July "a, 1890, amounted to S49,96l, 1874
and that during the same period the
amount of such notes paid in gold wa'
SAT, AIS, 1873. 1t thus appears that all thu
silver bullion purchased during tina
time, except S2,2l6.011 worth, was pait
for in gold, while the bullion itself il
stored in the vaults of the treasury, ant
can neither be sold nor use(
for the payment of any kind o
obligation. How long the governmen
shall be thus compelled to pur
chase silver bullion and increase tn
public debt by issuing coin obligation
nj payment for it, is question whicl
congress alone can answer. 1t is eviden
that if this policy is continued, and tn
secretary of the treasury shall be com
PEELED to issue bonds or otherwise III
crease the interest-bearing public debt
1t will be done for the purpose of pre-
curing gold with which to pay for silve
bullion purchased under the act re
ferred to-"