Evening star. [volume] (Washington, D.C.) 1854-1972, 1896-08-17
Silver Taken to the MINIS During
1895.
WHAT Is MEANT BY FREE COINAGE
Questions That Are Answered by
the Director of the Mint.
B FORE AND SINCE '73

From official Information received by the
Treasury Department from twenty-one
countries, the coinage Of silver during the
calendar year 1895 amounted, in the ag-
gregate, to $1l3,672,200. or this sum s13,-
6O3, 200 was recoinage; deducting this sum
from the total coinage. gives the coinage
Of silver from new bullion in 1885 as $780,
O69, 900.
The country coming the largest amount
Of silver in 1896 was Mexico, with a COIN
age Of s24, 49,, $50; followed closely by ia
pan. with a coinage of 81. Ss3 500; next
comes China, with IS, 253, 340 Spain, ST.
1858, 800; Great Britain, $5.S21, ISL; United
States, $5,69S, 600; Austria-Hungary, s.. 800 :
600; Peru. s4.O73.OO Russia, 1851 900;
Ecuador $500, 900; Germany, 81 SIG, 600.
The silver coinage executed by Great
Britain during the year for her colonies
was: For Canada, $1.15S, $50: for Hong
kong, S2,200.CoO; for Straits Settlements,
$780, 500; total Of s3.S0S. 100.
France coired for lndo-China sG092,000
in silver, and for Morocco 1854, 900.
During the year 1895 the United States
recoined the largest amount of silver,
viz: $4S5O,OOO. followed by Austria-Iiun-
gary with recoinage of S,31S,5O Eng
land, 81. 200; Germany, $1,S2G,O0O; Rus
STA. $642. 500; India, s4S4, 500.
The only countries of any Importance in
which the coinage of silver is free are Mex
leo and Japan. Free coinage does not
necessarily imply that there should be TO
mint charge, as in Mexico, while the COIN
age of silver is said to be free, charge of
AL per cent Is imposed for striking the
coins, vhich is the same as the export
duty imposed by that country on silver
bullion. No export duty is imposed by
Mexico on her silver coins.
Compared With Coinage Before 1873.
From January 1 to August /, 1895, the
H.
United States was $500 l2. while the coin
age of silver dollars, from 1892 to 1873, aS-
gregated $SO31, 23S only.
The worlds product of silver during tn.
calendar year 1895 is estimated to have
been s22GOOO,OOO. The amount of new bull
lion used i'll the coinage, SO far as known,
was $1OO,069,OUO. and from reports received
from twelve countries the amount used in
the Industrial arts was s42.O0OOOO. while
the exports to the east amounted to SS1-
Joo.UO. making the total disposition of the
worlds silver product for 1898, SO far as
known. Sl9,5tg,OOn, which would leave $46-
$4,000 for coinage and use in the arts by
the countries from which no reports have
been received.
Letters of Inquiry.
Mr.. Preston is constantly in recent of
letters Of inquiry regarding the currency
question. A favorite query is whether the
free coinage of silver would mean that
holders OF bullion would not have to pay
anything for having their commodity turn
ed into money
The fact that every 81 100000 of silver
Ccihed requires $SI7 worth of COPPER to
nrlnS 1t up to the present standard of fine
ness indicates that the process could hard
~ lie without charge, but whether there
&c charge made will depend upon the
wording or the act of Congress authorizing
secn coinage If one be passed.
How 1t Might BE Done,
Arother favorite question is in regard
TO the way free coinage could be accom-
pushed while the capacity of the minis is
Out $o,UooOo annually, good many cor
respondents wanting to know whether
holders Of bullion would have to take turns
IN having their bullion coined. All these
details would depend on the provisions
that might be made by Congress ii free
coinage OF silver should win 1t is
thought likely, however. that the bullion
would be received by the government and
silver certificates issued based upon IT,
and In that event there would be no diff
hculty in the government issuing such
certlhcates in quantities equal to any
amount of bullion that might be deposited
al the mints.