The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1893-12-01
WORK OF THE MINIS
Gold and Silver Coined and Other
Interesting Facts.
Annual Report and Recommendations of
the Secretary of the Navy-0nly
One Big Ship Requested.

WASHINGTON, Nov. SO.-R. E. Preston,
the Director OF the Mint, has submitted to
the Secretary of the Treasury the report
of the operations of the Mint and assay
Office for the fiscal year ending June 80.
1893. Following is a synopsis OF the report:
The value of the gold deposited, including
redeposits. during the fiscal year. 1898. at
the minis and assay offices was $50, SS9,9 800.
OF this sum sSS, 2S6, 16s was classified as of
domestic production. Foreign gold bullion
and coin of the value of $S.54l, 027, old plate.
jewelry, ETC., to the value of $3.50, 176, and
worn and uncurrent domestic coin of the
value of $S06, $40 constituted the original de-
posts. The amount of silver deposited az
gregated 7S, 135. 706 standard ounces. of the
coming value in silver dollars of $50, l0S,361.
The classification of the amount deposited
was as follows: Domestic production, coin
ing value, SIS, CSC, 0I5; foreign bullion and
coin, coming value, s., sol, ISL; uncurrent do
nestle coin transferred to the mint for re-
coinage, $7,61S, 1873; old plate, jewelry, etc,
1853, 426.
The value of the coinage executed at the
minis during the fiscal year was: Gold.
3 ,0SS, 40; silver dollars, s5,34S, us; subsidi-
airy silver coin, s7.217.2 21: minor coin.
$l,0S6, 102; total, 49, S5, us. The number Of
pieces coined was 81, $780, $40. The value of
the gold bars furnished by the minis and
assay Office for use in the industrial arts
was IS, ia. 227.
The imports Of gold during the year were
SD, O69, $50. Of this sum $6,074, S99 was United
States gold coin. The exports of gold dur
ing the year were: Domestic coin and bull
lion, $102, 337 ,537; foreign coin and bullion,
S6,629. 29s; total, Sos, 966, 600.
The imports OF silver during the year
were So, 293, 999. The exports were: DoneS-
tic silver, $24,6 25, 400; foreign silver, / 7,322,-
403; total, Sal, 81, S12. The amount of silver
bullion offered for sale to the government
ounces. The amount purchased was S4,-
COS, 162 fine ounces, costing $i5.53 ,37A. The
.s.4s Cents. The amount of silver offered
from July 1 TO Nov. l, 1893, was l9,9o7,OOO
fine ounces. and the amount purchased
11,91S,650 fine ounces, costing S. 715,5S1., The
total amount Of silver bullion purchased
under the act of July. Ii. 1890, to Nov; l,
1893. was 1sS,674.6S2 fine ounces, costing
1856, 931 ,002. The average per fine ounce was
1924 cents. The coming value OF the total
amount purchased Gin silver dollars) was
lars coined under the act of July IA, 1880
from Aug: 16, 1890. to Nov. /, 1893, was
36,0S7, 2S5. The seigniorage coinage on the
same was S6,977, 09S. The balance of silver
bullion on hand Nov. Is. 1893. purchased un-
der the Act of July IA. 1880, was lao, 69S, S25
fine ounces. costing 1926, 75S. go. Since April
Il, 1910, the SONtIIlIllCfil Il DCcli a n sc
| purchaser of silver. The report of the Di-
| rector of the Mint shows that the total
amount purchased was 1876, 1884, S99 fine
ounces, the cost of which was sos, 933. 975.
The average cost per fine ounce was $1.024.
The total number of silver dollars coined
since March l, 1873, was 1898. $50.
The stock of metallic money in the United
States July i, 1893, is estimated to lave
been: Gold. $597, 697, SIS; silver, s615. S61, 4Si.
making q total OF 81, 2l3, 559, 1863. The amount
of money in active circulation, exclusive OF
the amount held by the treasury, is stated
| at 81, 596, 701, 245.
The report contains a table exhibiting the
approximate stock of gold. silver and I'M
covered paper money in the principal coun-
tries Of the world, aggregating: Gold, S,9Ol,-
| 900, 900; silver, 1881, 100, 000; uncovered paper
money, s., 200, 900, 600. The amount of gold
and silver used in the United States in the
Industrial arts during the calendar year
| 1892 is estimated TO nave been: Gold, $16,-
9lj. 40S; silver, 50, LOG, $40. TIL coinage of the
world for the calendar year 1892 is stated
to have been: Cold, S167, 81. 337; silver, SAB,
096, $50. The production of the precious
metals in the world during the calendar
year 1892 is timated to have been: Gold,
| $l3S, SCI, 600; silver, 1896, 45S, 800.
A brief review is given of the coinage
| legislation from 1892 down to the present
time. wr. Preston also reviews the course
of silver since 1913. The causes of deprecia-
ton, according to the director, were the de
monetiZation of silver by Germany and the
| scandinavian states, the suspension of its
coinage by the Latin Union, the Neither
| lands, AuStrO-Hungary and Russia and the
increased production of the metal, this last
being the most potent.
The report of the American delegates to
the Brussels monetary conference is pre-
scented in full, and is preceded by a short
account Of prior international monetary
conferences.