The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1895-11-25
GOLD AND SILVER.
Interesting Report or the Director OF the
Mint -C0lnRge or tho World.

Mint-C0nage or the Wnrld'
WAsulNdToS, Nov, 2i.--.'rhe director
OF the mint has submitted his report to
the secretary Of tho treasury,
The value Of the gold deposited at
tho mint and assay olIlcea during the
fiscal year was Ss7,4s9,O89, OF which
sos, ,lGl,007 Wars original deposits and
81, 81, or wore rod0pont.
The value Of tho silver denoitcd dur
ing the fiscal year was Sl5,7ll.3Bj, OF
which Si5, 23i, 200 were original deposits
aud Sl7O, ,G6j Te'depo'lsS.
Tho coinage Of the mln,a during tho
year was gold, Si3,O35,47ji silver dol
lars, S3,OJO,0ll, subsidiary silver coin,
S5,ll3, 4GO; minor coins, S7l2,j0i, a total
coinage Of SIS, ,7l5,5iO
In addition to tho coinage executed
by the mints during the year, gold bars
we're manufactured Of the value OF Si5,-
l53,370 and silver bRra OF tho value OF
Sl0,3ll ,5i5.
Tho average London price Of silver
bullion during the year was - pence,
equivalent to U9S cents. lhG higllOst
price OF silver during tho year was US
cents and the lowest price sos cents.
At the average price OF silver bullion
during tho fiscal yaar tile ratio Of gold
to silver was to $50 and tho bullion
value Of United States silver dollar
was 50 40,l6S,
The value Of tho gold aud silver eiti-
mated to have been used In tho indus.
trial arts during the calendar year 1894
was approximately S2l,54l ,G52, Of which
Sl0,05S,G ,GG Was gold aud sl0,SSj.OiS was
silver.
The estimated metallic stock in the
United States on July l., 1895, was, gold
S03S, $685. Hilver S525, sj3,0i0, q total
Of 81, ,262, ,OS4.7H.
Tho estimated product Of gold and
silver In the United statos during the
calendar year 1894, was, gold $50, 100000 (;
silver S49,6OO,00O lns ounces, Of tho
commercial value Of S3l ,422, 900 and the
coinage value oil S64,OO0,00O. The eItt.
mated production OF tho world for tue
calendar year was, gold SlSO,B2B, 1907
silver coming value S9lJ,S22, 2JO-com'
m0rcial value sl06,522,OOO,
Tho coingo OF gold and BilvOr by the
various countries Of tho world, so far
az this information has boen received
for tho calendar year 1891. was, gold
$227, ,02l, ,032; silver Sl0B, ,3SS,0S2.
In his report, Mr.. Preston gives an
estimate Of tho approximate stock Ct
money In tho principal countries OF
tue world. He places tho stock OF gold
at S4,0SG, ,S00, 900; the stock Of full legal
tender silver at 81, ,439, 100000; stock Of
limited tNudar silver at S63l, 200, max.
ing u total silver stock In the world Of
$4,O70, ,500, 900; tho uncovered notea arc
placed Rt $2,4T9, 10000.
Mr.. Preston, In u review OF the none
tary logiIlation oil the country, states
that the real demonstration OF silver
took place in 1858. when tho weight OF
the divisional colns was reduced about
7 per cent. This, he says, was not an
accident or Ru oversight; II was OxpreHs-
y declared In the house OF representa-.
tlveS that tho intention was to make
gold tho solo standard Of value In largo
transactions, and silver subseryient to
II for smaller oneL The act Of 1873, ho
says, was only nominal.
In his report tho director OF tho mint
says that tho result OF tho currency
legislation Of tho United States tor over
hundred years has been such as to
leave m incohorent monetary system,
as inconsistent, illogical aud expensive
rs can well bo imagined, that inspires
little confidence at homo, and Is not
conducive to our credit abroad, and its
reform ia ono Of tho most important
aud urgont Of tho political aud financial
queJllons OF tho hour