The San Francisco call., 1899-12-11
COINAGE OF GOLD GREATEST
TN THIS COUNTRY'S. HISTORY
Director Of the Mint Roberts Reports More Bullion
Operated Upon Than in Any
Previous Year.

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 a greater
coinage was executed. during the last fiscal
year than in any previous year. Original de-
posits Of gold were slightly less than during
the previous year. amounting in value TO sl43.
ls7. ls0 against sl47 6s5.1s4 in the fiscal year
the largest in our history. amounting to E7s.-
252 4s7. against S64sSl. i2O in the preceding year.
but there was falling of in foreign coin and
bars.
The coinage Of gold was the greatest in our
history. amounting 10 sos. $50. against ss4.
634.S65 In the preceding year. and might have
been considerably larger IL the capacity of the
mints had been greater. The stock OF gold
bullion in hand increased from sse ess. ss2 on
July !. Isss. TO SlissS2.772 on July /. 1859.
The coinage Of silver dollars from bullion
purchased under the act Of July "a. 1890. was
SIS. 47Os. against $1,000. $50 in the preceding
year. and the coinage OF subsidiary silver was
s.. 4eS. .s77 s5, against Sc ls2. sos.
The mints have been hard pressed throughout
the year 70 meet the demands upon them the
running overtime for the greater part of the
year. The pressure at the San Francisco mint
was not so great because the stock OF silver
bullioa at that institution was exhausted IN
August 1888. An Arrangement was made with
the house Of ]. & w Seligman & Co. New
York. by which S.ls3. .6l5 fine ounces OF silver
at Philadelphia were exchanged for equal
amount delivered 10 the mint at San Francisco
This exchange enabled the latter institution
u coin the supply OF subsidiary silver required
On the Pacific Coast and 10 assist In the coin
age Of the required number Of silver dollars
This mint also converted into coin the full
amount OF its very large receipts OF gold bull
lion. its gold output being SIS 25s. 600.
The mint facilities OF the country will be
taxed 10 their utmost until the new buildings
under construction at Philadflrhia and Denver
are completed and equipped. The stock OF gold
bullion is accommodating. and with the present
press ure for subsidiary coinage cannot be re-
duced. Fortunately the large cash balance in
the treasury permits at this time unusual
stock OF bullion without embarrassment. but
Congress at the approaching session should
make appropriation for the equipment OF
the new Philadelphia mint. The building is
well advanced toward completion. and as the
power plant and much Of the machinery will
require considerable time FOR construction. the
contracts for the same should be let during the
coming year.
When the present charges for refining silver
were adopted the power was applicable 10 the
conditions then existing. and the Government
refneries desired share of the business. But
the cost OF treatment has declined and the
charges Of private concerns have been reduced
while the Government charges have remained
Fixed. The effect has naturally been 10 send the
silver bullion 10 private refineries. While there
is no good reason why the Government should
enter into unnecessary competition With p-l :
vate concerns. IL IS desirable that so long as n
conducts refneries IL should do so in an
economical and business-like manner.
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 bust
ness or TO such an extent as will bring
the moderate amount OF silver bullion