The silver messenger. (Challis, Idaho) 1890-1912, 1895-07-30

mis-apprehension of the meaning
of the term free coinage"
Many persons believe that gold
and silver were coined free of
charge at the United States mint
prior to 1873, when an act was
passed prohibiting the coinage
of silver on private account and
limiting the legal tonder of silv-
ar coins to five dollars. Such,
however, was not the fact. The
mint charges on gold bullion, or
on coins below the standard
weight, and not required to be
parted, were one dollar per
1000 ounces. For parting bull
lion containing gold and silver
the charges ranged from two to
six cents per ounce, according to
the quantity of gold which it
contained, and if there was base
metal in the bullion an additional
charge of one cent per ounce was
made. For refining silver bull
lion less than 697 fine the charge
was two cents per ounce. There
was also charge for tougher
ing, and a charge for alloy,
making the total charge for coin
ing 1000 ounces of silver S8.68.
At the present time the i'm
preston prevails that if twenty
dollar gold piece is melted the
owner can take the metal to the
United States mint and exchange
it for twenty dollars. Those
who labor under that impression
will have their minds disabused
of the idea if they try the ex-
pertinent. No deposit of bullion
of less than one hundred dollars
: is received at the mint, and there
: is bar charge of ten cents on
: each 800 value, toughening
charge which ranges from one
half to two cents per ounce, and
an alloy charge.
An ounce of fine gold-48(
grains-is worth S20.67. A
twenty dollar gold piece contains
: 464.4 grains of gold, SIG grains
F. of alloy. AS the value of tbs
464.4 grains of gold at $685. pc
ounce, is 500, the government
would lose the cost of alloy an6
r, of mintage if there were no min
A. charges.
Free coinage OF gold and silv
It err at the ratio of 16 to /, doe
8 not mean that the government
S, shall coin those metals free O
:, > charge for anybody who takes
bar of the value of 800 of eithe
re metal to the mint. Silver me-
do not ask for that. What the,
want and what they mean by tn
o. free coinage of silver on an eo
uality of gold, is that the mint
he shall coin both metals on privat
accourty~s7 vas the custom from
the establishment of the mint i
a. 1892 up to 1873, subject to chare
as es for parting, alloy, etc.
h At present the mints coin gol
n on private account subject
IT, certain charges, but they col
lid silver only on government az
count, and the governmeI
. chooses to have only q very limi
8 ed quantity of the metal CONES
. as it prefers to issue interes
81; bearing bonds to the gold synd
: cate, to coming legal tends
iy, standard dollars with which
; pay its debts.
Silver men do not want Il
government to buy an ounce
.ial silver, though the gold pre-
Of and speakers allege they d
All they ask is that the min
shall be used, as the founders
san the government intended thu
an should be, and as they were uni
ned the infamous Act of 1873 W
and placed on the statutes, for Il
the coinage of gold and silver +
on the public, charging reasonat
this rates for the service. If eve
wise mint in the United States W
be run to its full capacity the tot