The Portland daily press., 1896-01-25


known to biologists as iridosmine, and
these remain in small percentage in the
bullion bars as they are offered to the
government for sale. But the most COM
phcated mixture which reaches a United
States assay office comes from the pro-
Duct Of the copper mines of Montana, Ar
lzona, etc. The crude copper is refined
from these ores by electrolysis, which
deposits all except the copper i'll slime
at the bottom of the tank. This deposit
contains gold, silver, bismuth, antjmopy.
arsenic, lead, sulphur and many other
minerals. This slime is purified in part
In the copper works, but there remain in
the bullion bar with the precious metals
many which are undesirable.
MINIS AND ASSAY OFFICES.
IL Is In one of these impure forms in
which most of the gold comes to the ASSAY
o1nces or to the minis to be coined.
Ihere are four mints-at PHILADELPHIA.
san FRANCISCO, Carson City and New
Orleans; and six assay offices-at New
York, Denver, Boise City, Helena, Char
iotte and st. Louis There is to be n
mint at Denver which will take the nlace
vi tie one at Carson, which Is virtually
closed now. 10 these minis and ASSAY
Offices the refined and unrefned gold is
sent or brought. Last year approximate
ly ], 54O, 600, 200 ounces of bullion offered
TO the government were of refined and
S44, GOO 600 of unrefined gold. In addition
to these were domestic coin, foreign bull
lion, foreign coin and gold jewelry The
domestic coin sent to the minis is the
coin which through abrasion in circu-
iation has lost weight and is unourre Mt
There was 1900 685 worth of uncurrent
coin received at the treasury, melted aud
reco1ned last year, on which the loss
through abrasion was 1916, 1856. In adj
d1tion there was 1888, 799 worth of muti-
lated and uncurrent coin bought as bull
hon and melted up.
Ihe unredned bullion which is brought
to the mints and assay offices is parted. -
or divided into it's constituent metals
and refined. This is not done for nothing.
Inc owner of the bullion pays for the
W ork. Last year the owners of bullion
paid the government $157,413 for this
parting and refining, the cost of which
was little less.
| When the product of this process in. run
into bars of gold and silver. are STAMPED
with the mark of the assayer, the owner
| OF the bullion receives a check on the
treasurer of tho United States for the
amount due him. This he may receive
| in gold coin or in any form of currency
The government now owns the gold.
and will oOin it whenever there is need
of coin or whe never the miuts are idle.
Usually good deal of gold in bars is
kept on hand in Philadelphia There is
now between S17, coo, 600 and SIS 600, 600
| worth Of gold bullion stored there There
is $4,000. 600 worth stored i'll New York.
But at San Francisco. where the great
est amount, of gold is received, there is
only SO, 600, 000. Gold coin is in deruand
constantly OH the Pacific coast for cur
rent circulation. That is the only part of
the country where it is in active service.
| There has been much larger amounts
of gold bullion. stored in the government
vaults. In 1882, there was $10S 600. 600
worth of uncoined bullion on storage,
and between S95, 000,Q00 and S1OC, 600, 600
of 1t was in the vaults Of the assay
Office at New York. The minis were SO
busy coming silver at that time that they
| OOulA AOU WILL VIc SOlOs
READY FOR SHIPMENT.
| Wien the bullion has been put through
the mint the coins are put in sacks or, il
they are to be shipped, possibly they
are packed in kegs for shipment The
last great gold shipment went from
Philadelphia to New York in kegs The
bags of coin are packed in boxes and
these are stored in the coin vaults-vaults
of latticed steel. 1t was from one of
these latticed vaults in Philadelphia, it
will be remembered, that an old en-
ploye of the mint stole some bars of gold
bullion a few years ago. These bars had
bsen stacked one on another in the vault
| for number of years without being
| weighed or counted.
| Most of the coin used in the East is
minted in Philadelphia, and the coin
minted in San Francisco is used chiefly
on the Pacific coast But the government
had $50, 900, 000 in gold in San Francisco
few years ago which was needed in the
East. So special train, swarmipg with
| armed guards, was put on from San
| Francisco to New York, and the enor-
NOUS shipment was brought through as
Registered maiP' at cost of loss than
! SO, 600. This is not the way gold is
handled usually. The government is
bound to give the hauling Of it's gold
within certain territory to the express
| company which has the contract for car
rying government money and securities.
Most of the shipments of gold are made
| between Philadelphia and New York,
| and they are handled in the daytime.
The express company sends safe in one
| Of its wagons to the mint. The gold is
loaded into tho safe, which is locked,
put in the wagon, and under armed
guard is driven TO the railroad station.
There this safe is loaded in an express car
| and, il the shipment is a big one, a
special guard. armed with sawed off
shotgun, is sent with the messenger.
For this service the government pays
forty cents on each thousand dollars.
That covers the transportation of the
coin from the mint to the subtreasury in
New York. For transfer like this the
| treasurer Of the United States draws
warrant on the mint, which is counter
signed by the Secretary of the Treasury
This is delivered to the express company,
which presents it at the mint aud re-
ceives some packages in return. Whether