Grand Rapids herald. [volume] (Grand Rapids, Mich.) 1892-1959, 1893-10-16
SILVER BY The TON
VALUE OF IT sS5s,l7S,Ooo.
fa oae Ch2mber There l. Ssof .ooo.'
oo0-- Moaey h Weighed ~ she fsas
fuu Instead OF Counfed

WAsnrxoEos. Oct ii.--In view Of
these troablous times in the money
market and the eject that the steady
purchase a slser i said 10 have upon
Il. the QUESTION a. 20 just hoS much
silver the Unifsd 81 Is oxn naturally
becomes very interesting one When
ona begins 10 consider the matter he az
ones plnnges into the realms Of large
figures snall mattess must be forgot
tea In the attempt 10 cohesive OF mli-
lions The Unitsd States po=sess about
400 tons Of silver stored in the vaults
under the eonfroi u the treasurer. Mr..
Morgan IL il generally knoen that the
government has been purchasing silver
AZ the rate Of s.5o0Ao0 ounces a month.
and when one stops 3, think what an
Immense mass % white metal this has
compelled the government 70 take and
care for he Is likely 10 Dc more than q
htfls SURPRISED. This monthly pur-
chase il said 10 be pretty much he en-
tire output Of the silver mines OF the
country.
Tour or ne Waits.
A tour q inspection Is made almost
daily By visitors, and il one that strang
ers ia the city always look forward 10
With especial p'~asnTe. They have been
told Of the novel experiences x holding
in one hand a million dollars worth 4
+ greaubacka and being u l., red into a
room where there are silver dollars 80
many that il would be as useless 20 at
tempt To count them ~ il ould he TO
carry them away. AZ Is visit that Is 81
more than usual interest DOW that the
two houses OF congress are spending so
much Of their time in extra session dis
GUESSING the merits and necessities OF
| silver.
Only coin is kept in the treasury
vaults. Bar and bullion are stored in
the subtreasuries and the minis. There
are eight vaults in the treasury used for
the safe keeping and storage Of money.
I The total value OF the contents Of these
vaults is s6sl3. 10000. Only two OF these
vaults arc used for the storage OF stand
ard silver dollars. Vault No. contains
slOl 10000. while the smaller vault.
known as vault No. , has in il only
1 about s50OO0O0o In addition 10 this
there is $4,000 worth Of fractional sill
YER. The other vaults are used for
holding bank notes. bonds. money for
daily use. etc.
Weighed Instead OF Counted.
The money in the two silver vaults is
/ AZ ifted about whenever asccunt was go
ing on. IL IL an interesting sight TO
watch the busy men at their task OF
handling large bags OF silver. The coin
IL contained in stout canvas bags hold
/ ing 81 600 each. These bags are passed
across through a pasgageway between
I the piles OF silver, and there a man sits
who weighs each bag separately. On
one Of the scales is placed bag that is
known to weigh the proper amount and
b contain the right number OF the shin
lug dollars. IL the bag that is 10 be
weighed does not pull its side down at
once. the bag is taken of add its con-
tents counted Occasionally there is a
bag that shows signs OF too much han
ding or too long life. and this il turned
over and its contents poured into a new
bag. IL is hot and tiresome work. way
/ down there below the region Of light
aud fresh air. and electric lights and
fans are kept running constantly. Ii
also takes quite a considerable number
q men ~ do the work. among them a
number Of big. brawny colored men, for
the bags are not light and il takes a
strong man to handle them as rapidly
as must be done.
Treasurer Personally Responsible.
The treasurer OF me United States is
personally responsible for all this wealth
which must Of course. be counted every
tisne there u a change in the Office. FOR
the new man must receipt 10 his prede.
cessor FOR every cent that has been
turned over 20 him. Treasurer Morgan
may never have seen any OF this im.
, merse sum that has been turned over q
| him. and he has 20 take the word Of
I others ss 10 the accuracy Of the count
Ia this be Is quite safe. however. for the
work u done by men who know how 10
/ do IL. and there - as much chance 81 the
money walking away u its own accord
az there isof snyones being able % take
care % IL for his own use. Uncle Sam'
treasure is well guarded. and the place
whore IL ~ stored comes pretty near 70
being a piace where neither moth nor
rust can corrupt and where thieves can.
not break through and steal.
la the largest vault. a huge room s9x57
feet and Il feet high. money IL stored IN
al around with only narrow passage
ways between the piles. Zach Pile OF
dollars il IA itself in a separate cafe.
surrounded as i Is with a lattice work
81 heavy iron bars The walls Of each
pile are built up with boxes az silver
dollars. and inside these walls the money
il piled IN canvas bags. for these take up
less room than boxes. = very important
reason. a. there - always the question
( how % supply enough room for AL the
money. The 6gurrs that so with all
tins wealth are q themselves interesting
Some Figures About silver.
The total coinage of silver dollars
under the Bland act 81 ISIS wac SSSq.
Qf.37A The total coinage under the
act ~ July 10. lsfo. known as the Sher-
man act. has amounted % e.. f55 60d
There are 5sql10oO silver dollars IN cir.
cuiation. More than half u all the sill
yer owned ~ the United States Is
stored In Washington. AZ the mints
and assay ofices there IL $50 81 GO
worth a har silver Alfoxether there IL
sSll coop IN standard silver dollars
There - si14Gao0o in fractional cur
Feucy. Gp - the time Il the sfringency
IN The money market at<ut fftY mil.
lions vas redeemed IN gold. --and ouly
about a haif mslcn 10 silver. but since