The sun. [volume] (New York [N.Y.]) 1833-1916, 1899-12-11
MINIS WORK OVERTIME.
HEAVY INCREASE IN COINAGE IN
THE LAST FISCAL YEAR.

hHaFf INCREdbE Nv SUh"A"h ~
THE LAST FISCAL YEAR.
Sos, ~, $50 Of Gold and sic, tss,bst Of Sill
yer Coined-No silver Bullion Available
for Coinage Of Fractional Coins-Worlds
Gold Production In 1898, 1887 200. 900.
WAsHrNGToS. Dec. 10.-The coinage executed
by the mrts Of the United States In the fiscal
year ended June 80 last. says Director Roberts
In his annual report. was greater than In any
previous year OF their history. the totals being
SlOS.l77lSO OF gold. aud Sl8.4S5.5S4 OF silver.
These show increases Of s43.5i2.3lb and Sl1.-
236.OO2 respectively. compared with the coin
age ofthe PREVIOUS year. and the coinage might
have been considerably larger. says the Drec-
tor. II the capacity Of the mInts had been
greater. These institutions have been hard
pressed throughout the year to meet the de-
mands upon them the New Orleans and Phia-
delphia mints running overtime for the greater
part OF the twelve months. The seignioraRe
for the year footed IN S0.3O5722. OF which
S5.o2Oli5 was on the 1924. 100 silver dollars
coined IRON bullion purchased under the
Sherman act: sSj,S3S was on subsidiary all
yer and SGS.b3O was on nickels and pennies.
The stock OF bullion on hand at the close Of the
year was: Gold. SllD. Ss2. 772. an increase OF
s23.Ha.lHO for the year: silver bullion tcost)
SS5575. 500
Director Roberts calls attention to the fact
that the Government has now practically no
silver bullion available for the coinage OF sub
sidiary currency. the entire stock. except that
purchased for tho specific coinage OF silver
dollars. and which cannot be- devlated from
that use without authority from Congress- hav-
ing been exhausted Legislative action. he
says. IL imperatively deman led to meet the in
creasing needs OF the country for fractional
coins
The imports OF gold for the year amounted
" r. ssSsnIsss2. and the exports 70 s37 .560. 7S3
exports s5d.ap5.sss5"' 'f' ''i'i N0''' anu '"'
la, The Dirse,GF The repeal Of III;
PEI cent on gold bars. for the reason that IL
onrrates 70 The disadvantage OF the Govern
courage gold sh pments. and It had been found
iess expensive e. the Government as well as to
In tn, report Of this bureau year ago."
says the Director, an effort was made to
monetary use In h world AZ n ,be 3S Close nea Ss
years 1852 and 1897 This table. corrected by
returns from additional banks and the elImina;
ton o' some errors. shows the stocks OF gold
q Por cent from Dec. ii. isS2' 10 Dec u.
the stocks. instead Of cont nung to increase.
showed 1'mtnntion: Al fret thought the re-
amoaatire 10 s2sfoo5.Gqo. the - stocks Of that
meta meta, night , hc exp.ctei to be e,yccrywhsre
that the United States took above $500. 900.
600 In Goli in lS,s TINT midas net imports
consumption Of tie world was SIS .0G0. 900. Il
wTH r b" nnnsr.,.od thai 70 general increase
But It still remains to explain where the
dise%EIear,ng goli Of Eur pc wen, to, -.
. GSc ss sG"T the Ru. .hs s s9ocs
shows reluc ion o slBS. 900 900. Hut NJ lie
Wit,", h. Russian Mins,e, OF Finance. IN his
ing the year lStS there has been an Increase
IN n" general amount Of gold in the country
Ter a Bank has Hesn brought about by the
monetary 20 orn n. enormous stock in the
purr'-" nj bringing the paper corrency OF the
country toh TAR with gold and estab iShing its
n ,nr hn During n rn7t year ths
coin. ,ong absent from The circulation OF the
year hut the record % thu exp rts and imports
q hose ccanrcs r"ceDd S s"p~ .o nn ; ;hS
they parted with Trade was very active in
s s",h ." ~ H. Hnd nnn3regt,y drew on the
The money stock OF tho-e countries was in
larger degree than the year previous in move
IL iI of special interest thar the stock Of uncov.
cred bank notes IN Germany was s24.OoO.NO
and was $3.50 900 greater In France That
il.u-trn'rs III" elasticity which enables the mon:
such an extraordinary demand for gold IA tho
mnlt"i states made on the world last year
tn" Ags,ro. Hungarian Bank had sl7,oonoo
more o' uncovered paper out At the end OF the
year than at The beginning The three had out
about SIS,vo0.unO more Of uncovered bank !
less contributed much tn ease the financial
situation. Tn" ability to thus enlarge the stock
event Of any sudden call upon it Tor heavy bay.
mcnts IN gol TheisSue acts as buffer between
- the coWnr @ cir TIM stST sd
d,n aud sharr pressure. II Is legitimate use
Q, ne credit % III" country through the agency
Tn" most notable change in gold stocks
during IN" wear wa. in the United States The
EHs on R jan o2HPFE WS. s!1ms n%% at
sc 1f; ,s al, az! sS on Hp al, 1872 at 500
The pro iuction Of gold in all the i'm portant ,
S0ii Ii.ids OF the w9yld Is Increasing rapidly.
in Ss S % Fam n tS Ss
1873 was sis7 900. 900 against SSiS 0tO'Oto |
~ iSn The production q Australia 10 date |
corresponding months OF lsslS " hch indicatssa
probable gain for the year Of sidOOO0O The
by their H" pro %n fSo op10on
south A,rica III. PRO luetion Of the hrst half OF
T1 Ssh had 'hf 81
0On:4Oo AZ all these principal districts are
than al the opening OF the present year. and ali
are preparing for larger yield. il is not mprob-
south, Africa the worlds output will quickly
pass SiOO.OOO.OOO Der annum. The worlds |
stock NJ coin IL now being Increased more randi
~ and by . higher percentage to the existing
STOCK than during tho period from 1850 to
@ when Sn 'me srTat 1ntnut 81 gold from Calf
all countries and gave the world n deprecated .
standard ~ value. The effect ~ this new flood
of s'andhrd money upon the markets, the indus
tries, the earnings Of those who work for
wages and all o. the varied relations OF the
people IN our present highly organized society
VIII be most interesting study. II must In
evitably bo potent factor In affairs"