Evening star. [volume] (Washington, D.C.) 1854-1972, 1893-08-19
A COUNT OF IT Is NOW GOING ON
Some Large and Very interesting
Figures Set Forth.
LOSS AND GAIN IN COINAGE

large figures. Small matters must be for
gotten In the attempt to conceive of mill
lions. The United States is the possessor
OF about 5000 tons Of silver, stored in the
vaults under the control Of the treasurer.
Mr.. Morgan. 1t Is generally known that
the government has been purchasing sill
yer at the rate Of 4.koo. 900 ounces a month.
and when one stops to think what an i'm
mense mass OF white metal this has COM
PEELED the government to take and care for
he IL likely to be more than a little sur
prtsed. This monthly purchase is said to
be pretty much the entire output Of the sill
yer mines OF the country.
A Trip Through the Vaults.
A Star reporter made a trip through the
vaults Of the Treasury Department yester-
day afternoon. It Is . tour of inspection
that many people make every day. and il
- Sat strangers in the city always look
to with especial pleasure. They
n told Of the novel experiences OF
one hand a million dollars worth
nbacks and being ushered into a
where there are silver dollars. 50
ny that 1t would be as useless to at
carry them away. It is a visit that is OF
more than usual interest now that the two
houses Of Congress are spending SO much
the merits and necessities Of silver.
only coin Is kept In the treasury vaults.
Bar Bars sane, and bullion are stored in the sub.
vaults In the treasury used for the safe
keeping and storage Of money. The total
1858. 5000. Only two of these vaults are
used for the storage Of standard silver dol
lars. Vault No. contains slol .O0o. 600. while
has IN only a abcu, a 80 81 V IN addition
to this there Is $53 900 worth Of fractional
silver. The other vaults are used for
holding bank notes. bonds. money for daily
use. &c.
Counting the Silver.
The money In the two silver vaults is be-
ing shifted about just now owing to the
count that is going on. Men have been at
work ever since the 1st Of July counting the
silver and the work now will probably be
finished about the latter part Of this week.
II - an interesting sight to watch these
busy men at their task Of handling large
bags of silver. The coin is contained In
stout canvas bags holding 5000 each.
passageway between the piles Of silver and
there man sits, who weighs each bag
separately. On one of the scales is placed
bag that Is known to weigh the proper
amount and to contain the right number
Of the shining dollars. II the bag that Is to
be weighed does not pull Its side down at
once the bag Is at once taken of and its
contents counted. Occasionally there Is a
bag that shows signs of too much handling
or too long life. and this is turned over and
its contents poured into a new bag. 1t is
hot and tiresome work. way down there be-
low the region OF light and fresh air and
electric lights and fans are kept running
BILE number OF men ~ do the work among
them a number Of big. brawny colored men.
strong man to handle them as rapidly as
must be done.
The Treasurer Responsible.
The treasurer Of the United States is
personally responsible for all this wealth.
which must of course. be counted every
time there is a change in the Office for the
new man must receipt to his predecessor
for every cent that has been turned over
to him. Treasurer Morgan, the new incum-
bent may never have seen any of this i'm
mense sum that has been turned over to
him, and he has to take the word of others
he IL quite safe. however. for the work is
done by men who know how to do II, and
ing away of its own accord as there is of
anyone's being able to take care Of 1t for
his own use. Uncle Sans treasure is we'll
comes pretty near to being a place where
neither moth nor rust can corrupt, and
where thieves cannot break through and
steal.
In the largest vault a huge ROOM eighty
nine by hfty-seven feet, and twelve feet
high. money is stored up. all around. with
only narrow passageways between the piles.
Each pile Of dollars is in itself in a separate
safe. surrounded as it is with a lattice
work OF heavy iron bars. The walls of each
lars, and inside these walls the money is
piled In canvas bags, for these take up less
reason, as there Is always the question how
to supply enough room for all the money
me figures that go with all this wealth
are OF themselves interesting.
Some Interesting Figures.
The total coinage Of silver dollars under
the Bland act Of 1878 was $3.50 1854
The total coinage under the act of July
IA. 1880, known as the S. erman act, has
amounted to s29. 455.6os
There are 5S.sl70oO silver ,ollars in cir
culation.
More than half Of all the silver owned by
the mints and assay offices there is $50 23I. :
goo worth Of bar silver Altogether there Is
ISL OOo 0U In standard silver dollars. There
IL 81. 900 in fractional currency Up 10
the time of the stringency in the money
market about fifty millions was redeemed
IN gold, and only about a half million in
scarce. there has been a large demand for
silver to pay off hands In factories and 9TH
er places where there are large pay rolls
The silver that is stored in the treas
ury was moved here from the subtreasurIes
which were overcrowded. Silver Is moved
about through the medium of the express
companies. 1t is handed over to them in
double bags and as 1t is carried at the risk
of the companies. they care for 1t as they
see Mt when it is en- route. Fractional sill
yer In small amounts Is usually sent in
small kegs. No money is being coined now
except from uncurrent silver which is be-
Ing recoined into the present styles Of
coinage.
Been Buying Silver Since IS1S:
The United States has beer buying silver
ever since 1878, when the Bland Nv went
into effect. Until the Sherman law went
into operation, the treasury purchased ST.
100000 worth of bullion every month for
coinage. There was purchased under the
first law 3Os 1893 II ounces pf silver. for
which 1t paid 1923. 635, SIC 19-apS average cost
OF N.6 per ounce. On this silver the gov
eminent made profit of q great many
millions Of dollars by calling every 3i5
grains of fine silver a dollar no matter
what the market value of silver might be
when paid for in gold. On he silver pur-
chased under the Sherman XIV the govern
ment has lost already abotA $40, 900 by
the depreciation of value Cd it's stock of
bullion on hand. Up to the list OF Juiy
about ISL, 900, 900 ounces had bten purchased
Four million and five hundred thousand
dollars In silver amount to about 14O tons
and If the country still goes on buying at
that rate, the problem Of what to do with
the metal promises to become an even
more serious one than 1t is now 1t is said
that even II the Sherman law Is repealed
and the government undertakes to sell III
the silver market will go even lower than
1t did when the silver miners of Colorado
threatened to close their mines because In
dia was about to stop the free coinage Of
silver.