The Topeka state journal., 1897-12-13
rtAKINe oREAP poLLARs.


If the operations of the United States
mints as carried on during the last f1s-
cal year shall be maintained, there will
be little cause for the silver men to
again urge the re-enactment of the
Bland law. The report of the secretary
of the treasury, recently submitted,
shows that there were coined at the
mint during the fiscal year ended June
80. 1897, more than u millions of 40 cent
silver dollars.
Little more was coined during the
year on an average under the operation
of the Bland law. Under that law the
minimum coinage per month was
placed at s., GOO 600, and this figure was
not exceeded to any considerable ex-
tent.
The coinage of all kinds executed
during the year was as follows:
Gold ..--.-.. -..-...........S71, ,646, 7O5 90
Silver dollars ........ ...... p, ,ZO3, 7O1 90
subsidiary silver ........... 3, l24 0S5 60
-'lillol ''-------- .--.------- So4'0VS %
The silver dollars coined were from
silver bullion on hand, purchased under
the act of July IA, 1890.
The total coinage of silver dollars
from bullion purchased under the act
of July IA, 1890, from August 13, 1890
date the law took effect), to July 1,
1897, has been IS, ,74S, All pieces, contain
ing SO, 3,172. .65O18 ounces of fine silver,
costing S51, $50, ,15413, giving a seignior-
age of S17,216 322- 81.
OF the subsidiary silver coinage, $3,-
O42, ,4S9.SO We're coined from uncurrent
silver coin transferred from the treas
ury for recoinage and SS1, $685. from
bullion purchased under the provisions
of section 1926. revised statutes, for
the subsidiary silver coinage On the
latter the seigniOrage was S42, ,322. IA.
The director of the mint expresses
the opinion that a much larger volume
of fractional silver coin could be placed
in actual circulation if the secretary of
the treasury were authorized to use
any silver bullion now in the treasury
for the coinage of such denominations
of fractional silver coin as might be re
quired from time to time by the public
in different sections of the country. and
he also suggests and recommends that
authority be obtained from congress
authorizing the recoinage of worn and
uncurrent fractional silver coin now
lying useless in the treasury, and that
hereafter such coin, as fast as received
in the treasury, be recoined, the treas
ury of the United States to be reim-
bursed for the difference between the
would produce in new coin from any
moneys in the treasury not otherwise
appropriated
Including the balances on hand at
the mints July 1, 1873, the net sefgn-
forage on the coinage of silver from
that date to June 80, 1897, was $84, ,822,-
S21.7O
This sum represents a handsome
profit made off somebody The treas
urer's report is silent as to who paid it,
As to the imports and exports of gold
and silver the report shows that the
net imports of gold We're $44, sos, ,S41, as
against S7S.904. .612 net exports for the
previous fiscal year.
The net exports of silver were s32,-
6S6.S35. as against $50, 1862, ,25S for the fs-
cal year of 1896.
The product of gold and silver in the
United States for the calendar year
1886 was: Gold. S53, 0S8, 600: silver. coin
ing value, S76.06 2S6.
The commercial value of the silver at
the average price per ounce (SO.674) was
S39 655, 900.
The value of the precious metals
employed in the industrial arts in the
United States during the calendar year
1896 was:
S5oId -'..-............. $11, 395, ,934
SIiVer -----.--.-.-.. ......--... 10, 2O4. .273
The stock of gold and silver in the
United States on July l, 1897, is esti-
mated to have been:
Gold ...... .................$ 696, ,270. $40
oHNer .-....-..-s-s..s.. s.... 634, 509, 7S1
Iotai -.-.-. ..-....... Isl, $50, 7SO, 1923
The total metallic stock and uncov-
cred paper of the world. compiled from
the latest reports, is estimated to have
been on January 1, 1897:
Gold .. 81 359 500 o00
Full legal tender silver -. 3,615, 500, 600