The times. [volume] (Richmond, Va.) 1890-1903, 1896-07-25
UHfT 10 no RIfIIf MEANS.
Mint Buroau Appealed To for Information
on Currency.

on currency
WASHINGTON. July 2i.-The Mint Bu-
rcou Of the Treasury IS In recipe or a
daily growing mail from an sections or
the country requesting Information on
Financial topics. The questions cover
every conceivable phase Of the currency
question and The inqulrers are Of all
shades OF political belief.
Most OF them want information that
can be easily furnished, such, for IN
stance. as tho total amount OF the coin
age Of the last fiscal year; the amount of
gold and silver I'm circulation IA the
United States. the present value Of DIFF
ferent coins. etc, but many are OF a
more abstrise nature and would tax the
officials TO answer them properly. The
bureau IS doing all II can 20 meet the de-
mand upon 10 as an educational instiiu-
ton. and Director Preston says that he
could easily dispose Of 1900 copies OF
the last annual report of his bureau If
he had them for distribution.
Mr. Preston mas made the following
simple and comprehensive statement In
regard % the coinage ratio between gold
and silver, in response 70 frequent in
Quiries on that point.
All standard silver dollars coined by
the minis Of the United States since the
passage Of the act or January IS 1897.
have bern coined I'm the ratio OF 10
l59sSf- generally called the ratio of 20
l6-l59S4 being very nearly Is. sun, 20
reach accurate results the former and
not the latter figure. must be used in
calculation. The ratio is obtained I'm
this way. The silver dollar contains
37l25 grains Of pure silver and the gold
dollar 22.22 grains OF pure gold II you
divide 37l25 by 1922 you will got the
ratio Of weight between a gold dollar and
a silver dollar that u.s. 15eSS4
II IS true that 10 b. on "a par with gold
silver would lat our ratio) be worth
SL2929 The reason is this. a gold dollar
contains 2322 grains Of pure gold In
an ounce or 80 grains. OF gold there
are as many dollars as 23222 is contained
times I'm $50. or one ounce. II YOU divide
$50 by 1922 you get s2067. the number Of
dollars that can be coined out Of an
ounce OF pure gold: I'm other words. the
money equivalent Of ono ounce Of gold or
OF 159S4 ounces ~ silver ar the ratio
Of to l5esSl
Now. II 1J9S4 ounces Of silver be worth
s20G7. one ounce will Doe worth si.2929. as
YOU can prove by simple division The
same result is obtained nv dividing $50
grains or one ounce OF silver by 1875.
the number Of grains Of pure silver in a
standard silver dollar. at the ratio Of 1
20 159SH which gives Sl2929.
Sixteen ounces 81 pure silver will coin
li,tlc more tdan one ounce of gold
li.eSSi ounces Of silver VIII coin exactly
the same amount OF mont> az one ounce
~ gold. that IS Seoc7. You can prove this
by dividing i59S4 ounces by 37L25 grains.
The operation is as follows:
l5.eSs4 multiplied by $50. divided by 37i.25
equals s2oe1f.
r. is not true that sixteen ounces of
silver viii coin only $3.50 at the ratio Of
! 20 iG
As wiz Doe eeon above. enc ounce Of sill
yer will coin $500. Multiplying $1,000 by
70 gives slocS You car MAKE the same
result l1 another way; sixteen ounces
troy or 7.6N rrgins divided by 37l p gives
the number OF silver dollars that can be
co,uel ont Of sig,een ounces Of silver.
7cs0 divided by 81 = equals S2)e.