Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1895-11-25

sive-Valuabls Statistics CT the
OperaEon Of the MINIS and the
Output Of Mines in this Country
washington, November 24-The Di-
rector Of the Mint has submitted his
repor. to the Secretary Of the Treas
ury.
The value Of the gold deposited at
the minis and assay Offices during the
fiscal year was sS74S2,OS2. Of which
S651G1.C07 were original deposits and
So. 221. O22 were re-deposits.
The classification Of the original de-
posts Of gold was: Domestic bullion,
siA8719l9: worn. uncurrent and mu-
tla.ed gold CONS. $1SS,25S; foreign
bullion and coin, S16.3S7 ,049; gold plate,
iawclry. etc.. $3,2f3809.
The value OF the silver deposited dur
ing the fiscal year was s15,714,S65. OF
which S15.2S4, 200 were original deposits
and S479 665 Te-dep0sits.
The value Of deposits of domestic ST.
yer bullion no the minis during the fiscal
YEAR was S8.S04. 1853. and worn and mu-
-ilc-ed domestic coins, at silver dollar
value. $3.50 1853; foreign bullion and
COIN s1lS0,923; Old plate, jewelry, etc.
S750O61.
TIE COINAGE
by the minis during the year was: Gold,
e48933. AIS: silver dollars, S3,956,011;
subsidiary silver coin, $5,113,4 69; minor
coins. S712,594, q total coinage Of $751;
1853.
In addition to the coinage executed
by the minis during the year, gold bars
were manufactured of the value Of S43,-
1880, and silver bars Of the value Of
510341,545.
The average London price of silver
bullion during the year was % pence,
equivalent to 63.S cents. The highest
price of silver during the year was 68
cents and the lowest price 1913 cents.
At the average price Of silver bullion
during the fiscal year, the ratio Of gold
20 silver was 1 10 81 . and the bullion
value Of United States silver dollar
was S049168.
TIE TOTAL EARNINGS
of the n.nts and assay offices during
the year. was $2,0SS.372, and the total
expenditures $1,1S5,435; showing the
net earnings from all sources to have
been $902,936.
The value Of the gold and silver esi-
mated to have been used in the Undue
trial arts during the calendar year 1894,
was approximately SZ1,541 $50, OF which
$1065S GOA was gold and SO. S83, 04S was
silver.
The estimated metallic stock in the
United States ON July 1st. 1895, was
gold $63G229 825; silver S625.S53, 949, a
total Of S1,262.0S4,774.
The estimated product Of gold and
silver iu the United States during the
calendar year. lS9t, was, gold $39,500,-
coo: silver 1880 900 fine ounces, of the
commercial value Of S31 $4,000 and The
coinage value Of $4,000 600. The esti-
mated production Of the world for the
calendar year, was, gold S1SO,626,1OO;
silver coming value S216,SS2, Cocoon
uercill value S160. 522 500.
The coinage of gold and silver by the
various countries Of the world, so far as
this information has been received for
The calendar years 1894, was, gold
S22Z921,032; silver S106,SS9,952.
Iu his report, Mr.. Preston gives an
estimate eff the approximate
STOCK OF MONEY
I'm The principal countries Of the world.
he places The stock OF gold at S4,0S6,-
5000: the stock of full legal tender
silver pc S5.439. 100000: stock OF limited
tender silver at $631,2o0,000, making
total silver stock i'm the world Of $4,000
100000: the uncovered notes are placed
al 81, t69 500, 600.
Mr.. Preston, in review of the
monetary legislation Of the country,
states that the real characterization Of
silver took place in 1853, when the
wei-ht OF the divisional coins was re-
dUced about seven per cent. This, he
SAYS. was not an accident or an over
sight: it was expressly declared in the
House of Representatives that the in
tention was 20 make gold the sole stand
ard of value in large transactions, and
silver subseryient to it. for small ones
The act of 1873, he says, was only NOM
inaI.
In his report, the director of the mint
says the result of
TEE CURRENCY LEGISLATION
of the United States for over a hundred
years has been such as to leave an in
coherent monetary system, as incOnsis-
tent. illogical and expensive as can well
be imagined, that inspires little conf
deuce at home. and is not conducive to
our credit abroad, and its reform is one
OF tho most important and urgent of the
political and financial questions Of the
hour
He says that on January /. 1879 the
date of the resumption of specie pay
ments. the only currency, except coin
certificates required to De redeemed in
gold coin was the $346.6S1 016, legal
tender notes then outstanding, which
the then Secretary of the Treasury was
cf the opinion that gold reserve Of
Sl00090000 would be sufficient to main
tain. but the paper currency redeem
able ON presentation has been increased
10 the extent Of $155.930,000 issued in
payment of the silver bullion purchased
under the aCt Of July H. 1890. Besides
these there were outstanding NOvem-
Der i. 1855. $685.. 456. $50 in silver Certi-
fcates. and as the act of July IA, $780,
declared it. ITO be the established poll
ley of the United States to maintain
the two metals at q parity with each
other. there was now a total of SSH
229. $50, resting on the basis Of the gold
reserve Of S1O0.O00o00.