The Austin weekly statesman. (Austin, Tex.) 1883-1898, 1896-12-10
VINTAGE REPORT
For the Fiscal Year-Dangerous Coun-
terfeits in Circulation.

Washington, Dec. 4.-The report of X.
Il. Preston, the director of the mint,
shows the operations of the minis and
assay offices during the fiscal year 1896,
together with statistics of foreign coun-
tries relative to the production, coinage
and monetary conditions of each. The
original gold bullion deposited at the
minis and assay offices during the year
was valued at sos, 769,3S3. The original
coinage value of $11,672,O77. The pur-
chases of silver bullion for subsidiary
coinage under the provisions of section
1926, Revised Statutes, was 1874, o37 fine
ounces, costing $122,429.
The coinage executed at the mints dur
ing the fiscal year was as follows: Gold,
$5S, SIS. 400; silver, S7,500,SS subsidiary
silver, $3,939,Sl9; minor coins, $S69,177;
total, ST, 1SS,46S
There was a total coinage under the
act of July IA, 1890, up to November 1,
1896, of $56,306,S7S, with n seigniorage
of $13,304, 034, leaving on hand at the
ounces, costing $112, S65, 625.
The balance on hand July l, 1896,
available for subsidiary silver coinage
was 1,161, 70S fine ounces, costing 81 ,514,-
500.
The total amount of minor coins issued
by the mint at Philadelphia since 1892
to June 80, 1896. was S27,S1S, 107. OF
this amount $2,3S2 461 has been rcmelt
ed, leaving $25,435,646 as the total
amount outstanding on June so, 1896
Deducting the balance on hand at the
mints on July l, the net seigniorage of
profit on the coinage of silver from that
date to June 30, 1896, was 1913, 145, 603
Gold and silver bars were manufac-
tured at the minis and assay Offices dur
ing the fiscal year as follows: Cold
S53, 24S, 523; silver, $780, 54.
The average London price of silver bull
lin during the fiscal year was equivalent
to $0.6SO05: the highest price was
$06S491 and the average price at par
of exchange was $0.675SS The highest
quotation during the year was equivalent
to $0.10204; the lowest quotation was
$0660S1.
The commercial ratio of gold to silver
was 1 to 30S and the bullion value of
n United States silver dollar at the
yearly average price was $0.52262. The
number of grains of pure silver at the
average price purchasabe with n United
States silver dollar was 710.06 equiva-
lent to 1.479 fine ounces.
The net gold exports for the fiscal year
were S7S,904,612 as against $50, 1876
for the previous year. The net silver
exports were Soo,oDE,Zo against ~
631.SS9 for the previous year.
The director, in his report, states there
is no doubt that the silver coins of the
United States are now being counter
feited, exactly similar to the genuine in
size, weight and devices. Some of these
coins can not be distinguished from the
genuine, even by experts. A very dan
gerous counterfeit silver half dollar has
made its appearance in the east and
west, the weight of which is 1872 grains,
with fineness of SGT IL, while the
weight of the genuine is 1929 grains of
the fineness of 900. The profit to the
counterfeiter is now about 100 per cent.
SO far the best known protection against
the counterfeting of coins has been
found to be the letter placed on the edges
similar to that on the first coins of the
United States or of the 5-franc pieces
of France. The director recommends
that authority be given the secretary of
the treasury to have experiments made
to determine the best means of prevent
ing the counterfeiting, or at least min
imizing the danger.
STEAMBOAT INSPECTION.
Washington. Dec. 4.-Supervising In
spector General Dumont of the steam
boat inspection service. reports for the
fiscal year that the total number of an
nual certificates of inspection issued to
steam vessels, foreign and domestic was
S297: number of certificates issued to
foreign passenger steam vessels, 300:
tn domestic stnom ynsSa1c TQ0- To+o !