The Houston daily post. [volume] (Houston, Tex.) 1886-1903, 1899-12-11
GOLD AND SILVER COIN.
Director Of the Mint Has Made His Annual
Report.
SUGGESTS TAKING Off THE EXPORT DUTY
which IL Now Required on silver
Bars-This VIII Prevent Coin
Going Abroad.

Washington. December io.-Mr. Roberts
the director OF the mint, in his annual re
port, says:
The mints and assay Office operetcd upoi
moro bullion In the aggregate and create
coinage was executed during the last tsca
year than any previous year. Original DE
poeits OF gold we're slightly less than during
the previous year. amounting in value u
sl4ss47,1so, against sii7,se3.iei in the yeai
ended June 30. 1898 Domestic deposits were
the largest in our history. amounting tt
SIT, SIS 4s7, against $50 ssl,12o in the proceed
ing year, but there was falling of in for
eign coin and bars, The coinage OF gold
was the greatest in our history, amounting &c
sios III, $50, against s6i63i,ss5 in the preceding
year, and might have been considerably
larger II the capacity of the mlnts had been
greater. The stock Of gold bullion on hand
increased from ss6sSs.bs2 July l, 1898, tc
slle, ss2,7T2 on July /, 1899. The coinage q
silver dollars OF the bullion purchased under
the act OF July H. 1880. was sls,2oi, "s
against SlO,00.,7s0 in the preceding year, and
the coinage OF subsidiary silver S9,ib6Sf.
against So, 4s2. SOL
The MINIS have been hard pressed through
out the year 70 meet tne demands upon ~, 1ne.a,
the institutions at New Orleans aid Ph ia
dtiphia running overtime TOD the greater part
OF The year The pressure at tha san Fran
cisco mint was not so great because tne stosN
OF silver bullion at that Institution wds OK
hausted August, 1898. An arrangement was
etI.cted Win the house OF j. & ". se!'gniIn
& Co. OF New YORK by ,wn.cn $500 hae
ounces OF silver al Philadelphia we're ek'
changed Tor an equal amount deltVefeu 10
them at san Francisco. Inls excndnse Gu
ahled the latter institution TO con ne snp
ply OF subsidiary silver required on the "a
enc coast and to assist in the coinage OF INC
required number OF silver dollars rms N ~
also converted into coin the tu,l amount ei
it's very large receipts oil COLA buIIiou' .ts s''a
output being S5s.2Ss'000 .,,, =
taxed 10 their utmost until the new oulio!hSs
under construction at Philadelphia aud al
Denver are ECU pped The stock OF gold oui.
lion is accommodating ana WITH the ptts'hl
measure for subsidiary coinage can NOV oc
reduced Fortunately, the large cash pai"ANe
in me treasury permits AT this time an un
usual stock OF bullion without einbarfhss-
nent but congress should at the approaeh
ing session make an appropriation 'ot NJ
cI1unmeDt of the Philadelphia mint nc
buUding g we'll advanced toward c9mpict.SI
and as the power plant and much Oh ~
machinery require considerable time Tor con,
srruction the contract for the same sh"uiu
be let during the coming year. a., u,,o.
when the present charges for rehning s'iseE
were adcpted they were anphcanle 10 tno 80
dlttons then existing ana Tue goNstnuls"t - ~
enertes racetyed Il share Of The business But
the cost of treatment has deeIlheu hn9 W
charges Of private coucetns nave peen ,ea 1870
while the government cnaTees nav i
hxed. The effect has naturally been TO SEND
the silver bullion to private rehnenes' Nhhe
there is no good reason why the government
should enter into unnecessary compephon
with private concerns II Is desirable that 30
long az IL conducts refneries 1t should do so
in an economical and business-like manner.
The report suggests that the charges Tor re
hning silver bullion be SO reduced as 10 put
the government on an equal footing Win pri-
vute concerns In the business OF TO such eN
ten. as will bring the moderate amount Of
silver bullion they require for the treatment
OF gold deposits. The total amount OF silver
bullion refined in the United States Inst yeai
was In round numbers, $4,000 900. The
superintendent OF the New York assay Office
the report says has called attention to the
fact that although about $50 000, 900 In United
States coin was exported last year. no bars
were taken for export and suggests that the
export charges OF lilo OF per cent, which Is
eSacted is operating TO our disadvantage.
There is no object" says Director Rob
erts. lin forcing the public to take our coin
out Of the country by making it more eN-
pensYe 10 take bars. We Ind better furnish
raw material than the manufactured article
The bars will have To be shipped from New
York 20 Philadelphia, melted and worked into
coin at some waste and considerable expense
TO replace the coin exported, while the bars
would have served every purpose for export.
The export charge was put on bars several
years ago when gold exports were heavy. aud
some means 10 discourage them was sought.
When the current coin is abraded exporters
viii pay a slight premium 10 get bars which
are full weight, hut our current gold coin Is
now largely new aud on the average close 10
standard aud exporters are preferrlng to ship
u rather than pay the bar charges"
The total gold imports OF the year amount I
"a 20 s&.9IsSs2 and exports to 1900, is3; the .
total silver imports were sSi .12o57s, CONNER
cial value, and silver exports $56. 655 335: the
stock Of bullion in the minis and assay Offices |
July l. 1889 was as follows: Gold. Sli9, $50
~; silver fcosu sS5.s75 s9s During the wear
sllss.s5l OF worn and uncurrent gold coins
were received with loss OF S10liS, and 49, |
5SS,i'6 OF worn and uncurrent subsidiary silver 4.
Was recoined with loss Of S4s5. 1917 Tho I
seigniorase OF the coinage of silver dollars |
during the year amounted to s5.520li5: on I
subsidiary silver sss, sas; on nickles and pen- /
MES. s6sS,729 The coinage Of all nations, in |