Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1897-12-08

From miscellaneous sources. % 00O 900 90
From postal service ........... 92,S74 CAT. 3.
Total estimated revenues .$is2, S74 81. 81
The estimates of appropriations re-
quired for the same period. as submitted
by the several executive departments and
offices. make an aggregate of $504 522-
a33.22, or an estimated deficit of $21, 6i7,-
SS5S5
In the issue of paper currency the op-
eratiOns of the year. which amounted to
St4.S4S.00C were exceeded in any like pc
Rod but once, in 1892. and then by only
a narrow margin. says the secretary.
The redemptions. amounting to $3.50. 40 020
were also relatively heavy. The preSen-
tation of national bank notes for re-
demption increased to such proportions
as to Overtax the capacity of the force
employed in counting and asserting, and
required considerable advances to be
made out of the general funds of the
treasury. BY an increase of the force.
however the arrearage of work was
brought up before the close of the year.
The Accommodations of gold in the treas
ury have been steadily increasing during
the past four months and the tendency is
toward a still further advance. The net
gold at the close of the last fiscal year
amounted to $40. 40 1873, and has increased
since then to 1851 9SS on November 80.
The value of the gold deposited at the
mints and assay offices during the fiscal
year 1897 was 1922. 055GO.53. OF this
amount sS1.vo3,S Ss7I.11 were original depos-
its and Si2. 1902 1922 redeposits. OF the
original deposits the domestic bullion
amounted to $6O.61S. 239.I7.
The coinage value of silver bullion re-
ceived during the year was $9.725. 022. 26
OF this amount. 50, 40. 623.36 were original
deposits and the remainder. 1874, 1880 re-
deposits.
The purchases of silver bullion for sub
sidiary silver coinage. under the provis-
ions of section 1926. Revised Statutes of
the United States. aggregated 2o9.2iS.60
fine ounces. costing $111, i55.42. The value
of silver dollars coined was S21, 203, 701
from bullion purchased under act of 1890.
The director of the mint is of the opin-
ion that much larger volume of frac-
tional silver coin could be placed in ac-
tive circulation If the secretary of the
treasury We're authorized to use any sill
yer bullion now in the treasury for the
coinage of such denominations of frac-
tional silver coin might be required
from time to time by the public in differ
ent sections of the country. and he also
suggests and recommends that authority
be obtained from Congress authorizing
the recoinage of worn and uncurrcnt
fractional silver coin now lying useless in
the treasury and that hereafter such
coin, as fast as received in the treasury,
be recoined. the treasurer of the United
States to be reimbursed for the difference
between the face value of such coin and
what it would produce in new coin. from
any moneys in the treasury not otherwise
The balance of silver bullion on hand
at the minis for the coinage of silver
dollars and subsidiary silver coins, No
vember l, 1897, was:
Items. Fine ounces. Cost.
under
act of July IA,
1890 ..... III S1, $3.50 slO3, S42, $3.50. 26 |
For subsidiary,
silver coinage ;. 1s9s,Os2s9 2,o75. 2ss u
At United States
assay office.
New York for
payment of de-
pOsts in fine
bars ............. 545.74s.4s ss,2s9os
Total ........... 117,125,s7477 sIO6. ASS. 946 A
Discontinuance of the minis at New
Orleans and Carson, New. is recon-
mended.
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 pur-
chase 74l.65 grains, equivalent to LA
ounces.
During the calendar year Of 1896. ST.
,,95. 1874 of gold and SO. 1913 of silver was
employed in the industrial arts. The gold |
and silver in the United States. July |. |
1897. was. respectively. $685.. 270,542 and
1924. sos. 7s1.
The total metallic stock and uncovered |
paper of the world. compiled from the
latest reports. is estimated to have been |
on Jan. l. 1887:
Full legal tender silver ....... 3,6l5. 800 900
Limited tender silver ......... GO. 800. 900
Total metallic stock 1890. -S.267 800 900