The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1895-11-25
ABOUT COINAGE.
Report Of the Mint Director for
Last Year.
We Coined Five Times as Much
= Gold as Silver.
INTERESTING FIGURES
Our Gold Coinage Half the
Worlds Total.
Average Price of Silver Was
Sixty-three Cents.

WASHINGTON, Nov. 25.-The director
of the mint has submitted his report
to the secretary of the treasury. The
value of the gold deposited at the
minis and assay offices during the
fiscal year was Ss7, 4s2, O2s. of which
Sos, l6l ,007 were original deposits and
S22, 32l, 022 were re-deposits. The
classification of the original deposits
OF gold was: Domestic bullion, SAL
81, SAC; worn, uncurrent and mutilated
gold coins, $1ss,25s; foreign bullion
and coin, SIG, 367, 049; gold plate, jew
elry, etc, S3,213, 500.
The value of the silver deposited
during the fiscal year was SIS. ia, 365,
of which SIS, 234, 700 were original de-
posits and S479, 665 redeposits. The
value of the deposits of domestic sill
yer bullion at the mints during the
fiscal year was IS, s04, 1868, and worn
and mutilated domestic coins, at silver
dollar value, So, 500, 353 foreign bullion
and coin, 81, $50, 923; old plate, jewelry,
etc, $500
The coinage by the minis during
the year was: Gold, SAB, 033, 475; silver
dollars, So, $50, oil; subsidiary silver
coins, So. lis, 469; minor coins, $7l2, 594;
d bObdA COlIdBS VI %OOs tlO,O1S
In addition to the coinage executed
by the minis during the year, gold
bars were manufactured of the value
of S43, 1852, $40, and silver bars of the
value of $40, 341, $40.
The average London price of silver
bullion during the year was 90 pence,
equivalent to 63.S cents. The highest
price of silver during the year was IS
cents, and the lowest price sos. At
ha nE hi
during the fiscal year, the ratio of
gold to silver was l to 32.5, and the
bullion value of a United States silver
dollar was $).43.16S.
The value of the gold and silver es-
timated to have been used in the in
dustrial arts during the calendar year
1894 was approximated at S21, Sal, 652,
of which 1868, GOA was gold, and
SO. $50 O48 was silver
The estimated metallic stock in the
United States on July l, 1895, was:
Gold, $636229, s35; silver, S625, $50, gag;
total of sl.262. OS4, ia.
The estimated product of gold and
silver in the United States during the
calendar year 1894 was: Gold. S39,-
500, 600; silver, $49, 500, 900 fine ounces,
of the commercial value of S3l, 49,, 600.
and the coming value of Sol, 900, 00O
The estimated production of the world
for the calendar year was: Gold,
$50, 626, 100; silver, coming value,
50 10. 1872, 200; commercial value, $780,
~, 900
The coinage of gold and silver by
the various countries of the word so
far as the information has been re-
ceived for the calendar year, 1894, was:
Gold, $227. 921 ,O32; silver, $106, 3S3. 952.
In his report Mr.. Preston gives an
estimate of the approximate stock of
world. He places the stock of gold at
81, 0s6 500. 900; the stock of full legal
tender silver at S3,439, 3On, 900: stock of
limited tender silver at 1881, POO MAX
ing a total silver stock in the world of
81, go, 500, 900; the uncovered notes are
placed at s., 400, 600, O00
Mr. Preston, in review of the mon
etary legislation of the country, states
that the real demonetization of silver
took place in ls53, when the weight of
the divisional coins was reduced about
Z per cent. This, he says, was not an
accident or an oversight; it was ex-
pressly declared IN the house of repre-
sentatives that the intention was to
make gold the sole standard of value
in the large transactions, and silver
subscribe MT to it for small ones. The
act OF 1873, he says, was only nominal
In his report the director of the mint
says InaC Inc result OF the currency
legislation of the United States for
over a hundred years has been such as
to leave incoherent monetary sys-
tenn as inconsistent, Illogical and ex-
pensive as can well be imagined, that
inspires little confidence at home, and
is not conducive of our credit abroad,
and its reform is one of the most inn
portant and urgent political and finan-
cial 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 be redeemed
in gold coin, was the S346, 0s1, 0I6 legal
tender notes then outstanding, which
the then secretary of the treasury was
of the opinion that a gold reserve of
500, 900, 900 would be sufficient to
maintain, but the paper currency re-
deemable on presentation has been in
+ creased to the extent of $l55, $40, 900,
issued in payment of the silver bullion
purchased under act of July IA, 1890
Besides these, there were outstanding
November /, 1895, 1923, 456, 236 in sill
yer certificates, and as the act of July
| il, 1890, declared it ito be the esta b.
lshed policy of the United States to
maintain the two metals at parity
with each other" there was now a
total of S62i, 229, 532 resting on the
basis of the gold reserve of
$500, oO0, 600