New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1897-10-19
OPERATIONS OF THE MINTS.
REPORT OF DIRECTOR PRESTON FOR THE
LAST FISCAL YEAR.

REPORT OF DIRECTOR PRESTON FOR THE
LAST FISCAL YEAR.
Washington, Oct. B-The Director OF the Mint
has submitted TO the Secretary Of tine Treasury
his report for the fiscal year 1897 covering the OPP
erations OF the mints and assay offices. together
with the statistics OF foreign countries relative TO
production. coinage and the monetary condition
of each The value Of the gold deposited at the
minis and assay Offices In the fiscal year 1891 cents
omitted. sl29G,500 OF this amount sS0S,s37
was original deposits and si2lO2.l62 redeposits The
original deposits classified as follows:
Muiilated and uncurrent domestic con..... lols3li
Foreign bullion ana com sio SIs
Old plate and jewelry -'i"-fo
The coinage value Of silver bullion received dur
ing the year was 80 9250o2. OF this amount @,l7O,-
C23 was original deposits and the remainder rede-
posts Tho original deposits were classified as
follows:
I Do%SsiiS b1 sH%.,;,, a@ao T
Tnrcrn m material Observation-Disclosures. 9io272
Old plate and jewcry Observation-Disclosures. Gl2552
The purchases Of silver bullion for subsidiary
coinage under the provisions OF Section $685., Re
vised Statutes Of the United States aggregated
25s 24s fine ounces, costing s1,&5 The face value
Of uncurrent domestic gold coin received nj the
mnts and assay Offices was N.G5l2l Or this
amount $625.75l was transferred from tho Treasury
for recoinage, and the remainder. spl.3'o was de-
posted by individuals, the total coinage value be-
ing Sl.0l5.31i
The coinage executed in the year was as follows;
silver dollars p % 9s o oSl
Subsidiary silver .....'...'...'...''''''''' aet go3
Minor "of'"'
Tho silver dollars coined were from silver bullion
on hand purchased under act OF July IA. 1890
The total coinage OF silver dollars from bullion
purchased under that act from August 10. 1880 the
date the law took effect, to July l. 1897 mas peeh
ss74s477 pieces containing 63.l72GO ounces or fine
/ ciIv giving
S72l6322 OF the subsidiary silver coinage *5ooiz-
4S9 coined from uncurrent silver coin trans
ferred from the Treasury for recoinage. and sSo'o
from bullion purchased under the provisions OF
Section 1896 Revised Statutes for the subsidiary
silver coinage. on the latter the seisnorage was
si2.322.
The balance Of silver bullion on hand at the mints
for the coinage OF silver dollars and subsidiary sill
yer coins July l. 1897. was:
Purchased under &C. of July a. -. a, .,o. ,.s 49,,
At. United States Assay once.
New-York. FOR payment Of de- ~ ease,
posIts in fine bars. ............. ssms ol21S
Including the balance on hand at the minis July
l. 1873 the net seignorage on the coinage OF silver
fr ON that dato to June 80, 1897. was ssi.S22s2L
The value OF the gold and silver bars manufact-
ured the minis and assay offices in the fiscal year
was:
Gold ln
Silver ............................. 8o's''
Total
Tho highest quotation for silver o e25 in the Lon
don market during the year WAS 3li3 pence. equal
10 s063gJl per ounce fine. United States money; the
lowest quotation was 27is pence. equal to sooo257.
The average quotation for the year - 9-lG
pence. equal to s0s4s9l per fine \; the aver
age price of silver for the year the Commercial
ratio between gold and silver was TO 5l9i. al the
average price OF silver for the year 81 would pur-
' The net Imports ports Of gold were sa, as agains,
as met gSp OF f from t 4s s as SfaT
sss 2s2 25s for the fiscal year is.G
The product of gold and silver in the United
States for the calendar year 1896 was;
silver. coming value .................... 1oo'' 1856
The value OF the precious metals employed In the
industrial In the United States during the calen-
dar year 1895 was;
Silver 1905 "a
,a nef sh IS sid ra ' IL a1 9 Ss United States
Gold $685. go st2
Total 1850 soS2S
The total metallic stock and uncovered paper OF
the world. compiled from the latest Tslorts' Is es-
timated to have been on January !, 1877:
fuIi ieeai-,ender sver............... ael5 no 90
Limited-tend silver ......,'..'''''.'''.' "-'''"
Total metallic stock. ~: $1,000
Uncovered paper ..'-...' ACKNOWLEDGEMENTS 80
Total "'V''
The worlds product Of gold and silver for the
calendar year 1896 was:
silver (com mercaI yalue).............. lol co. 700
Si,ar .co,ninr xalue, observation-disclosures. 2i5 2s2 200
The coinage OF gold and silver by the various
countries of the world far as reported. was;
Gold siga s sn id
silver
The Director OF the Mint reviews the decline OF
silver since 1873 and attributes the decline 10 the
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