Evening star. [volume] (Washington, D.C.) 1854-1972, 1897-10-18
COMING THE METALS
Annual Report Of the Director of the
Mint.
Big DEPOSITS OF GOLD and SILVER
Production Of This Country Com
pared With Others.
THE GOVERNMENTS PROFIT

| condition of this country and other coun-
| tries. The report is for the fiscal year
| ended June 30, 1897.
| The value of gold deposited at the mints
| and assay offices during the year was s19-
| 1O5,5OO53. OF this amount $S7, OO3 a37 Il
were original deposits, and s42, 1O2, 162. 81
| re-deposits. The original deposits were as
| follows:
Domestic bullion. .s6O, 6lS, 239 a.
| Mutilated and uncurrent do
| heSlc CON- ..................... 1,015,314 80
| Foreign bullion and coin. 90 $50 534 50
| Old plate and jewelry. ........... 2S10,24S CO
| The coinage value of silver bullion re-
| ceived during the year was 81, 30 022 26 of
| this amount 81, 47O, ti23. Sc were original de-
posts, ana the remainder, $254. 39S.9o, re-
| deposits. The original deposits were as fol-
| lows:
Domestic bullion. 81. 961 100 16
uncurrent domestic coin......... 2,S56,01s Oh
| Foreign material. 94O2I2 OS
Old plate and jewelry. 612, 80 0S
The purchases Of silver bullion for subsid-
| larry silver coinage aggregated 259, 24S. 60
fine ounces, costing Sill, 4o5.42.
| The face value of uncurrent domestic
| gold coin received at the mnts and assay
| offices 81, 025, 121: of this amount s62s,-
| 751 was transferred from the treasury for
recoinage, and the remainder, $401,3IO, was
| deposited by individuals, the total coinage
| value of which was $1,015,314.41.
| tonnage or Gold ana Silver.
The coinage was as follows: Gold, ST.
646,7O5; silver dollars, 81 BOB, 7O1; subsidi-
airy silver. s., 124. 0S5.65; minor, s9S4. JO959.
| The silver dollars coined we're from sill
| yer bullion on hand, purchased under the
| act of July IA, 1890 The total coinage of
silver dollars from bullion purchased under
| the act, from August Il, 1880. the date the
| law took effect, to July l, 1897 has been
| Us, iSfH pieces, containing 53,172, $50. Is
ounces of fine silver, costing Sol. :32, 154. H.
| giving a seigniorage of S17,216.322.S7.
| OF the subsidiary silver coinage $3O42-
1880 were coined from uncurrent silver
| ccln transferred from the treasury for re-
| coinage, and $S1, $685. from bullion pur-
| chased under the provisions of the law for
| that purpose. On the latter the seignicrag e
4 was "a, 322 "A.
The Silver Balances.
| The balance of silver bullion on hand at
| the minis for the coinage of silver dollars
and subsidiary silver coins, July 1. 1891
was: Purchased under act of 1890. 115.-
43S, l61.9S ounces, valued at $1O4 3S6. 80. As:
for subsidiary silver coinage, 1,34S. 3J3. 70
ounces, valued a 81 641 O9O37 At United
| States assay office, New York, for payment
| OF deposits in fine bars, S505 sos 81 ounces
! valued at $512, 7S6.2S
including the balances on hand at the
| minis July l. 1878, the net seigniorape on
the coinage of silver. from that date to
June 30, 1897, was sS4, 800 S21.7O
Minor Coinage and Bars,
or the minor coins manufactured during
the year s5s6,O63.O6 were from new ma.
| terial and $39S, 446. Sd from old and uncur-
rent minor coins transferred from the
| treasury for recoinage. There were also
| transferred from the treasury to the mint
| at Philadelphia $50, S25 in minor coins for
reissue. Inc total amount of minor coins
| Outstanding July l, 1897, was SIC 1GO 739 30
| The value of the gold and silver hars
| manufactured at the minis and ASSAY Of
hces during the fiscal year was sci 100
S6l.l2, as follows: Gold, $54, 1882: sill
yer, $6,59S, 151.30.
| Silver Quotations.
The highest quotation for silver O.925, in
the London market, during the year. was
BIZ pence. equal to 50. 69051 per ounce fine
| United States money; the lowest quotation
was 21a pence, equal to sO6O357 The aver
| age quotation for the year was % GIG
pence. equal to s0.64794 per ounce, fine.
At the average price of silver for the year
the commercial value between gold and
| silver was l to 31.94; at the average price
| OF silver for the year 81 would purchase
'4I6' grains, equivalent to 1.5i ounces
Inc net imports of gold were 44,GO9, 81
] previous fiscal year.
The net exports of silver were $50. s36. Ss5
| 1896. 'e"i
| The director of the mint reviews tho A..
cline OF silver since 1873, and attributes the
decline to the great increase in production.
Production of Gold md Silver,
The production of gold and silver in .b,s
country, compared with that of the re-
mainder of the world, shows the great
| mineral resources of the United States
Inc product of gold in this country for the
| calendar year 1896 was $53,OSS COO. The en-
TIRE product of the world for the same
period 1s estimated to have been 500 a.,6 :
oV. ihls country, therefore, produced
| something over one-fourth of the gold of
the world.
The commercial value of the silver output
VI TINS country for the same period estf-
mating at the average price per ounce. was
SS9.6oo,OOO. and the coinage value $76Ots9-
80. The commercial value of the worlds
paooueI OF silver was sos. 4O6.S0O; its COIN
age value. $215,242. 200. 1t is therefore seen
mat this country produced about one-third
| of the silver of the world.
.+Ine immense amount of the precious
metals used in the industrial arts is of in
terest. For the calendar year 1876 sII.-
s9o,9S4 In gold was used in this country for
TINS purpose. and SIC. 204, 273 in silver The
a a USED In the Industrial arts was one
nith or the product of this country
The director of the mint makes strenuous
and eifective efforts to distinguish our gold
production from that of the balance of the
world He recently set on foot plans by
which a correct record will be kept of the
gold which comes from the Klondike coun-
try. He thinks he will be able to keep trace
or every dollars worth which makes its
way into this country. He will know what
was taken out Of American territory and
what was taken from Canadian territory.
| The Worlds Coinage.
The total worlds coinage was S1y5, sgs-
bl7. Our mints turned out 81. 646, 7O5. The
gold coinage of this country was over one
third the total Of the world. The worlds
silver coinage was $l5S. 80, 40. Because of
the immense silver coinage of preceding
years the silver coinage Of this country was
only about one-sixth of the total.
Big Piles Of Money.
The stock OF gold and silver In this coun-
try is goodiy proportion OF that of the
world.
The total stock OF gold and silver In the
United States ON July l. 1877, il estimated