The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-11-25

deposits and sf7e Cos redeposits. The value
OF the deposits Of domestic silver bullion az
the mints during the fiscal year was &.S,4.-
5oS and worn and mutilated domestic COINS
and silver dollar, ss.s99.353: foreign bullion
and coin, $,7So.s23; Old plate. jeweiry. etc,
The coinage by the mints during the .Iear
was: Gold. $i3, ,93S, f15; silver dollars. S.so6,-
OIL; subsidiary silver. coin, S,ils, ies: minor
coins, S7l2.59i total coinage OF S5. .Iis,sis
In addition to the coinage executed by the
mints during the year. gold bars were man.
uractured of the value OF 49,, As -, 1920 ana
The average London price of silver bullion
during the year was - pence, equivaient
to 6S.s cents. The highest price. OF silver
during the year was IS cents and the low
est price 59.S cents. At the average price
OF silver bullion during the fiscal year. the
ratio of gold TO silver was to 80 and the
bullion value of a United States silver dol
lar was az. los cents.
The total earnings OF the mints and as
say offices during the year was Z,Oss-S.-.
and the total expenditures. S1.ls5. 49, show
ing the net earnings from all sources 10
have been 500. 1885,
The value of the gold and silver estimated
10 have been used i'm the industrial arts
during the calendar year OF 1894 was. a2-
proximately. $2l,541, ,652, OF which ssest
was gold and s1O.ssS.OiS vas silver. The es-
timated metallic stock i'm the United States
on July l. 1895. was: Gold. $3.50. z2s. 50; sil-
yer. s625. $50. .sis. total of H.262: :oSi,I!4.
The estimated product of sold and silver
In the United States during the calendar
year of 1894 was: Cold. $Ss.5oo,ooo; silver;
az, 100000 fine ounces, of the commercial
value of s3l. 900 and the coinage value of
s6i. 100000. The estimated production OF the
world for the calendar year was: Gold.
$3.50 626, 100; silver, coming value, s2l6 So, 200
commercial value Sl06522.9oO
The coinage of gold and silver by the
various countries OF the world, so far as
this information has been received, for
tn, the o.s calendar year ~ 1854 was: Gold, VII
In his report, Mr. Preston gives an esti-
mate of the approximate stock OF money
i'm the principal countries of the world
He places the stock OF gold at S,0Se, so, 900
the stock of full legal-tender silver al
81. i3e 500 600; stock of limited tender silver
at 1851 ,20o. making total silver stock In
the world of Si.070, ,s50o.c0. The uncovered
notes are placed at s., ,f69. 100000.
Mr.. Preston, in a review OF the monetary
legislation of the country. states that The
characterization of silver took place In
1853. when the weight Of the divisional
coins We're reduced about I per cent. This
he says, was not an accident or oversight
1t was expressly declared in the House OF
Representatives that the intention tC
make gold the sole standard OF value IL
large transactions and silver subservieni
to it for small ones. The act OF 1913. hs
says. was only nominal.
In his report. the Director OF the Mint
says that the result of the currency iegis'
lation of the United States for over one
hundred years has been such as to leave
an incoherent monetary system as incon
sistent. illogical and expensive as can wei
be imagined, that inspires little confidence
at home, and is not conducive TO our credit
abroad, and its reform is one of the mos
important and urgent political and financia
questions of the hour He says that OF
Jan. j, 1879, the date of the resumption o
specie payments, the only currency, excep
coin certificates. required 10 be redeemed
in gold coin was the S346. .6S1. .o1s legal-tende'
notes then outstanding, which the thel
Secretary of the Treasury was OF .th
opinion that gold reserve of 500 0co. 90
would be sufficient to maintain. but TIT
paper currency redeemabie on presentation
had been increased TO the extent OF $3.50.
$50 900 issued III payment OF the silver bul
| lion purchased under act of July IA. 1896
Besides. there were outstanding Nov.
! 1895, s333 456, ,236 in silver certificates. Th
| act of July IL. 1890. declared IL TO be tn
established policy of the United States I,
maintain the two metals >at parity witt
each other but there was now total o
SS21. .229.532 resting on the basis Of the goi'
| reserve of S10O, 1900.