The Seattle post-intelligencer. [volume] (Seattle, Wash. Terr. [Wash.]) 1888-1914, 1895-11-25
BUSINESS OF THE MINT
4 Total Coinage of S53,7f5.549
During the Last Year.
THE WORLDS STOCK OF MONEY
Director Preston Says silver Was Really
Declared Subservient to Gold.

Washington CITY Nov a.-The director
OF the mint has submitted his report 20
the secretary OF the treasury. The value
OF the gold deposited at the minis and as
say offices during the fiscal year was ss7.-
4s2 90. OF which SIS. Isl a07 were original
deposits and 81. 52l .022 were reieposits
The classification of the original deposits
OF gold was: Domestic bullion. s44 81 $50:
worn. uncurrent and mutilated gold coins.
SIS. 25s: foreign bullion and coin Sic, Ss7 e49;
gold plate. jewelry, etc. s. 2l3 s0e.
The value OF the silver deposited during
the fiscal year was sl5.714.565. OF which
sI5234 zoo were original deposits. and $479.-
6s5 redsposits- The value OF the deposits
of domestic silver bullion at the minis
during the fiscal year was SSS04. 1858. and
worn and mutilated domestic coins. al sill
yer dollar value. $685.. 35s: foreign bullion
and coin. H.sso.s2S; old plate, jewelry. etc,
s75o.Osl.
The coinage by the mints during the
year was: Gold. s43,933. as: silver dollars.
s. $751; subsidiary silver coins, s.. 49, 40:
minor coins. s7l2.5s4; a total coinage of
SIS. 7I5.549 In addition TO the coinage exc
cuted by the minis during the year. gold
bars were manufactured OF the value OF
$50 1880. and silver bars of the value of
S1esil.5l5. The average London price OF
silver bullion during the year was -
pence. equivalent to S. cents. The high
est price of silver during the year was IS
cents. and the lowest price 50 s. AT the
average price Of silver bullion during the
fiscal year. the ratio OF gold 10 silver was
10 81 s. and the bullion value of a United
States silver dollar was 50 1888.
The total earnings of the minis and az
say offices during the year were s.. 0ss, $50.
and the total expenditures s., 1S5, 453, show
ing the net earnings from all sources to
have been Se02 1885, The value OF the gold
and silver estimated to have been used in
the industrial arts during the calendar
year 1894 was Appropriated at 81. Sal .s52.
of which sl0.65S.645 was gold and SO, So. 04s
was silver. The estimated metallic stock
in the United States on July |. 1895, was:
Gold. s63e 229 SIS: silver. ss25. S53, $40; total
OF 81. 90 0SS. IA
The estimated product of gold and silver
I'm the United States during the calendar
wear 1894 was: Gold. 81 800, 900: silver. 49,
10000 fine ounces. of the commercial
value of s3l. 422 000. and the coinage value
OF s64. 00o. 600. The estimated production Of
the world for the calendar year is: Gold.
sls0o26.loo: silver. coinage value, s2l6,S92,-
200. commercial value. s106, 722. 909 The
coinage of gold and silver by the various
countries of the world. so far as this in
formation has been received. for the call
endar year 1894 was: Gold. So. s2l ,0S2: sill
Yer. sl06 1882.
In his report Mr. Preston gives an esti-
mate of the approximate stock OF money
in the principal countries of the world.
He places the stock of gold at si,es6. 500, 900;
stock Of full legal tender silver at $3.50,
10000; stock of limited tender silver at
s63l, ~, 900 making a total silver stock in
the world of 1880, 500, go: the uncovered
notes are placed at 81 as. so, 600. Mr.. Pres
ton, in a review OF the monetary legisla-
ton of the country. states that the real
decentralization Of silver took place in 1858.
when the weigh. Of the divisional coins
= IF
pressiy declared IN the house OF represen-
tatives that the intention was TO make
gold the solid standard of value in the
large transactions. and silver subservieat
10 Il. for small ones. The act OF 1873, he
says was only nominal. In his report, the
director Of the mint says that the result
of the currency legislation OF the United
States for over 100 years has been such as
10 leave an incoherent monetary system,
as inconsistent. Illogical and expensive as
can we'll be ina gfned. that inspires little
confidence at home, and Is not conducive
10 cur credit abroad. and its reform is one
OF the most important and urgent political
and financial questions OF the hour lie
says that on January /, 1879. the GATE or
the resumption of the specie payments the
only currency. except coin certificates re-
uuired TO be redeemed In gold coin. was the
S3ls, 6sl 0l6 legal tender notes then out
standing in regard to which the then sec
rotary OF the treasury was OF the opinion
that a gold reserve Of 800. OoS0oo would be
sufficient TO maintain, but the paper cur
rency redeemable on presentation has been
increased 10 the extent Of 1855, $780, go. Is
sued in payment of the silver bullion puT-
chased under the act Of July II, 1880. Be
side these, there were outstanding Novem-
Der / 1895. $685. 456. 235 in silver certificates.
and as the act Of July IA, 1890, declared IL
10 be the established policy OF the United
States to maintain the two metals at par
ity with each other" there is now total
Of $621. ~, $50 resting on the basis Of the
gold reserYe Of 500. 90 900.