The morning news., 1899-12-11
GOLD AND SILVER COINAGE.
WORK OF UNITED STATES MINTS
DURING FISCAL YEAR.

Coinage of Gold Was the Greatest
I'm Our History, Amounting 10
S1OS,177, 7,1SO-COinaEe of silver Was
StS,254,7o9, Far In Excess of That
of the Year nefore-Amount OF
Bullion on Handsome Changes
Are Suggested.
Washington. Dec. 10.-Mr Roberts, the
director of the mint, in his annual report.
says:
The mints and assay offices operated
upon more bullion in the aggregate and
greater coinage was executed during the
last fiscal year than in any previous year.
| Original deposits of gold were slightly less
than during the previous year, amounting
in value to $14S i9T. 1870 against Sli7 69S 1874 in
the fiscal year ended June 80 1898. Domes-
tic deposits We're the largest in our his
tory, amounting to SIG 252. 4S7. against S69,
Ssl, ,l20 In the preceding year, but there was
falling off in foreign coin and bars.
1.-The coinage of gold was the greatest
In our history, amounting TO $!0S,l77, 1870,
against $646S4S65 in the preceding year,
and might have been considerably larser
II the capacity of the mlnts ha1 BEEN
greater. The stock of gold bullion on
hand increased from So on July l.
1905 to $l19 $50, ,772 on July /, 1899,
"The coinage Of silver dollars from
| bullion purchased under the act Of July
A. 1890, was Sis,25iI09, against so COZ 7SO
in the preceding year and the coinage of
subsidiary silver $9,466, S7.65, against S.
4S2,SO4
"The mnts have been hard pressed
| throughout the year to meet the demands
upon them the institutions at New Or
leans and Philadelphia running over time
for the greater part of the year.
The mint facilities of the country will
be taxed to their utmost until the new
! buildings under construction al Phiadel-
| phia and Denver are completed and equip
| ped"
Charges for Refining.
The report suggests that the charges for
refining silver bullion be so reduced as to
| put the government on an equal footing
| with private concerns in the business, or
! to such an extent as viii bring the mod
crate amount of silver bullion they re-
| quire for the treatment of gold deposits
The total amount Of silver bullion refined
| in the United States last year was in
round numbers @OO000O ounces.
THE superintendent of the New York
| ASSAY office" the report says, has called
1
| $50 100000 in United States coin was eX-
| ported last year, no bars were taken for
| export and suggests that the export
| charge of one-tenth of one per cent which
| is exacted Is operating to our disadVan-
| tage. There Is no object" says Mr.. Rob
erts, lin forcing the public to take our
| coin out Of the country by making 1t more
| expensive to take bars. We had better
furnish the raw material than the manu-
| factured article"
"The total gold imports of the year
amounted to $50, and exports to $751;
55O,7S3.
''The total silver imports were $S1, ,120, ,57S,
| commercial value and silver exports $780,
COS 1856.
'''The stock of bullion In the mints and
! assay offices on July l, 1899, was as fol-
| lows: Gold, $119, ,SS2 TO- silver (cosO, $685.,
575,S9S.
SeigniOraRe for the Year.
1.-THE seigniorage on the coinage of sill
yer dollars during the year amounted to
| $5,52O,145; on subsidiary silver, $50 SSS; on
nickels and pennies, $69s729. The coin
age of all nations, including recoinages, In
1898 were, gold, 1896 5,47, ,9O5; silver, $l49.-
2S2, 1885,
! THE government has now practically no
bullion available for the coinage of sub
sidiary currency. 1t has bullion purchas-
ed for the coinage of silver dollars. but
this cannot be used without authority
! from Congress. The need of the country
for fractional currency are increasing and
legislative authority for new coinage is
imperatively demanded"
| Continuing, the report says:
"In the report of this bureau a year
| ago an effort was made to tabulate the
| principal stocks of gold held for monetary
use in the world at the close of the years
1892 and 1893. This table corrected by re-
turns from additional banks and the elm
! nation of some errors shows the stocks
of gold in sight In Europe to have in
| creased by about 30 per cent. from Dec. 81,
1892. TO Dec. 81, 1897. From the latter date
to Dec. 81. 1898, the stocks. instead of con-
| tinuing to increase, showed q diminution
At first thought the reduction is likely TO
cause surprise, for with The enorTfbus gold
production OF the year, amount ting to $751;
O0O000 the stock of that metal might be
expected TO everywhere augment
when it is considered, however that
the United States took above 5000 900 600
of gold in 1893. that Indias net imports
were over s2O,OO00OO and that the indus
trial consumption Of the world was $3.50 900, =
OO0 II will be understood that no general
increase in European stocks could occur
last year. But it still remains to be ex-
planed where the disappearing gold of
| Europe went to.
Increase In Gold Stocks.
| The most notable change IN gold stocks
during the year was in the United States.
The stock of coin in the country, !nclud-
| ing bullion in the mints on Jan /, 1898,
was estimated at $745, ,245 ,953. and on Jan. /,
| 1899 at S945, 1875 7SS, a gain of 800 $50, ,S35.
| This gain appears In the following items:
Stock Jan. /, 1898, s745 245, 953 net imports
of United States coin. $S3 ,0S2 7ls; coinage
during the year, 81. 1885, gain In bull
ion In mints, s94 no. .43O; total. 1851, ,OS4, ,s59
UNITED States coin remelted at mints
s., ,330,74l: taken by Daymasters TO Cuba
Porto Rico and Philippines, 81. ass, $50: used
in manufactures 81 100000. Total 81, ,2s6,O ,O71.
Stock Jan. 1, 1899, $945 ,79S, 7sS
1.-The production of gold coin in all of the
important gold fields for the world is in
creasing rapidly and with prospects OF
continued gains for years to come. The
yield In the world in the calendar year
1898 was $3S7.000,0O0, against 1898 100000 In
1897 The production in Australia to date
in 1899 has shown a gain of "a per cent
over the corresponding months of 1898
which indicates "A probable gain for the