The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1897-10-19
GOLD AND SILVER MONEY
DIRECTORS ANNUAL REPORT OF
THE OPERATIONS OF THE MINIS.
Coinage of the Last Fiscal Year-Aver-
age Commercial Ratio Between
Gold and Silver 1 TO 31.94.

WASHINGTON, Oct. 1S The director Of
the mint has submitted to the secretary of
the treasury his report for the fiscal year
1897 covering the operations of the minis
and assay offices, together with the statis-
ties of foreign countries relative TO produc-
ton, coinage and the monetary condition of
each. The value of the gold deposited at
the minis and assay offices during the fiscal
year 1897, cents omitted. was $12e. 105, 500. OF
this amount $S70O3,S3i were original depos-
its, and S42, 1O2162 redeposits The original
deposits were classified as follows:
Mutilated and uncurrent domestic
Forelgn bullion and coin............ q, $50 534
Old plate and jeWelry. 2,81O248
The coinage value of silver bullion re-
ceived during the year was So. 725,O22. OF
this amount So 470,623 were original deposits
and the remainder. $254, 1893, redeposits. The
original deposits were classified as follows:
domestic bullion SAC, 961, 1893
Oncurrent domestic coin. ........... asst, obs
Foreign materials ................... 9402a2
Old plate and JeWelry.. 612, 532
The purchases of silver bullion for sub
sidiary silver coinage, under the pro-
visions of Section $685. Revised Statutes of
the United States, aggregated $3.50, 24S fine
ounces, costing S171, ass. The face value of
uncurrent domestic gold coin received at
the mints and assay offices was 81, OPS, 121
OF this amount $623,751 was transferred
from the treasury for recoinage, and the re-
mainder, 49, was deposited by individ-
uals, the total coinage value of which was
$l,0l5,3l4. The coin executed during the
year was as follows:
Gold 81, 646, 705
Silver dollars NEUTRALITY-SUSPICIOUS.. q, 203, FOL
Subsidiary silver .................... 3,124 0S5
Minor COINS ACKNOWLEDGEMENTS. 9S4,5O9
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 that
act from Aug. Is, 1890 (the date the law took
effect, to July, l, 1897, has been 6S, 74S,477
pieces containing 53172,65O ounces of fine
silver, costing l,592, 154, giving a seignior-
age of $17,216, 1922 OF the subsidiary silver
coinage, $4,000, 4S9 Were coined from incur
rent silver coin transferred from the
treasury for recoinage and $S1, $50 from bull
lion purchased under the provisions of Sec
ton 1926 Revised Statutes, for the subsid-
larry silver coinage On the latter the segn-
forage was $42.322 The remainder of the
silver bullion on hand at the minis for the
coinage of silver dollars and subsidiary sill
Yer coins, July l, 1897, was:
Fine ounces. Cost
Purchased under act
n, July Is 1880 sl15 4aS,461 $1o4 Sss.sl2
At the United States
assay office, New
York, for payments of
deposits Of fine bars. 505,99S 512, 7S6
Including the balance on hand at the
minis July l, 1878. the net seigniorage on
the e9nags s OF silver ser s5 g0 IN that date to
the gold and silver bars manufactured at
the minis and assay offices duriag the fis-
cal year was:
Gold -. .$54 511 019
Total -. 1861, 100, SCI
The highest quotation for silver 0925 in
the London market during the year was
3119d, equal to $0.69051 per ounce, fine
United States money; the lowest quotation
was 2713d, equal to $O.6O357. The average
equal to $O647gi per ounce, fine.
AT the average prices of silver for the year,
the commercial ratio between gold and sill
yer was to 31.94; at the average price of
silver for the year, 81 would purchase 74165
grains, equivalent to 1.54 ounces.
as against as go1 sl9 net imports for the
previous fiscal year. The net imports of
silver were $50, 6S6 S35, against $33, 262, 25S
and silver in the United States for the cal
endar year 1896 was: Gold, $53, 0SS 900; silver
Coming valued SIC, O69, 2S6. The net value of
the precious metals employed in the indus
trial arts in the United States during the
calendar year 1896: Gold, $11 1896, 934; silver
$10,204,273 The stock of gold and silver in
the OHlIeQ Olollco July - 1901, 10 CotAAAcllCO
to have been:
COlQ .@o5o V0fz
Silver b54,oU9. ISl
IOtdl looV ~, oA0
The total metallic stock and uncovered
paper of the world compiled from the latest
reports, is estimated to have been on Jan.
/, 1897:
Gold 80. Observation-Disclosures. "a 359, 800 900
Full legal tender silver. ......... 1915, 800 900
Limited legal tender silver. 652, 500, 900
Total metallic stock. 627, SOC, 900
Uncovered paper .................. 1863, 200, 900
Total ......Sll lyi,lOO,UOO
The worlds output of gold and silver for
the calendar year 1896 was:
sp@Vt'
Silver commercial value). ........ 109, 400, 800
Silver coming valued. .............. 2l5,242,TD
The coinage of gold and silver by the
rious countries of the world, so far as re-
ported was: Gold, $1O5,S99517; silver, $l53,-
1876 74O The director of the mint in his le-
port reviews the decline of silver since 1873