Arizona weekly citizen., 1894-09-08
COMING THE sEIGNoRAGE.

ACCORDING to an Associated Press dispatch from Denver it appears that the hints are not only coining the seig- niorage but the bullion in the hints also. The dispatch snys that Congress mar L9fe Pence day or two ago gave out two letters which have never been made pnbl.c. The first wGs his inquiry addressed 10 Mint Director Preston as the extent Of coinage operations, and the other is Preston's reply. Pence's In- quiry eaid, in part:
 In the Washington Post of July IS there was an article under the heading Of ''S lVer Coinage to be resumed. 1t will not, however, increase the amount of money in circulation" in which arti- cle i was stated that Secretary Carlisle would give directions within few days to resume, to limited extent, the con- age of standard silver dollars at the mir of the United States; that since the re- peal of the Sherman purchasing law last November silver coinage has been prac- tically suspended, only about 800 silver dollars having been struck off during 1894, that this coinage of silver for the remainder of this year would not pro- bably exceed S2,000,000. This coinage will not affect the amount of money in circulation, gs for every dollar in silver coined, one dollar silver certificate will be retained.
 1 think it worth while that the public should understand the full meaning of this statement, therefore 1 ask you, first
 What bullion, and how acquired, was coined, or is to be coined, into such standard dollars?
 Sscond-is this coinage from what is known as the seigniorsge?
 Third-Are these standard dollars, so coined, issued and put into circulation?
 Fourth-If so put into circulation, are they used by the government in the pay ment of it's indebtedness, so as to add to the circulation, or are they issued in exchange for silver certificates or treas ury notes?
 Fifth-Does this coinage add anything whatever to the amount of money in cir culation? If so, how much?
 The reply of Director of the Mint Preston, dated at Washington, August 6, is as follows:
 Sir: In reply to your letter of the 4th inst. I would say that the statement which MT. McRae of Arkansas introduc- ed into the house on August 2d for general information was R true state ment, showing the amount and denom- ination of gold and silver coins struck at the hints during the month of July, and that the item contained in the same standard silver dollars, 423, ,C00-is cor rect. The bullion from which these dollars were coined was acquired under the act of July l4, 1890, which is the only bullion held by the Treasury avail. able for the coinage of silver dollars. The cost of the bullion contained in these dollars was S2S5, ,66l D, showing gain or seignoirgge of $137 ,33S 9; con- sequently S285, ,661 D will be held for redemption of treasury notes, and S137- 33S 9 will be used in the payment of the obligations of the government and will add to the circulating medium to that extent.
 It will be seen from the above that the mlnts are coining silver again, and that they are coining both the principal and seignIorage. MT. Pence under stands that the coinage is to be uninter- rupted, and that the whole stock of sil- yer on hand will probably be coined as rapidly as possible and placed in circu- lation.