The Iola register. [volume] (Iola, Allen County, Kansas) 1875-1902, 1899-12-15
WORK OF THE MINT.
Coinage of Gold the Past Year the
Greatest in Our History.
THE STOCK OF COIN IN THE COUNTRY
The Production of Gold in All the Impor-
tant Gold Fields OF the Country In
creasing Rapidly-An Interesting
study as to Its Eject.

Washington, Dec. 11.--Mr Roberts,
the director of the mint, in his annual
report says:
The coinage Of gold was the greatest In our
history, amounting to SiOs Ia lsj, against S6i. =
6ji,s65 in the preceding year, and might have
been considerably larger If the capacity Of the
minis had been greater The stock of gold bull
lion ON hand increased from SgG6ss So! on July
l, 1898, to Slig, SS?,772 on July /, 1879.
The coinage Of silver dollars from bullion
purchased under the act Of July H. 1890 was
SlS,25iS0I, against SlOO0!,7sO in the preceding
yearand the coinage Of subsidiary silver 80, 1885,
6l7.6o against 50, 1872 SOi.
The stock OF bullion in the minis and assay
offices on July T. 1899 was rs follows Gold,
sll9,Ss3,772; silver (cosO, $751;, 57Ss1s. During
the year e. i6S,SSl In worn and uncurrcnt gold
coins were received with loss Of Sl0,5i3 and
os5ss,U76 OF worn and uncurrent subsidiary sill
yer was reconed with a loss Of SiS5, 197 The
government has now practically no bullion
available for the coinage OF subsidiary currency.
Ii has bullion purchased for the coinage OF sill
yer dollars, but this cannot be used without
authority from congress. The needs OF the
country for fractional currency are increasing
and legislative authority for new coinage is inn
peratively demanded.
The most notable change in gold stocks dur
ing the year was in the United States. The
stock OF coin in the country, including bullion
In the mintS on January T. 1898, was estimated
at f745, 1893 and on January |, 1899, NJ s9iS,-
7pS, 70S gain OF OF s2OO.OO9 s35. The gain ap-
pears in the following items: Stock January T.,
1893, SHi,2i5.0 5i; net imports Of United States
coin, 330s!,7iS; coinage during the year ST.
9s5, 75s; gain In bullion In mintS, S9i,7iO,43O;
total, 1851, 0sI $50. UnitedStates coins remelted
at mints, 81 ,330,7il; taken by pay masters to
Cuba, Porto Rico and Philippines, g., $3.50;
used in manufactures 81 so 900; total, ESQ OIL.
Stock January /, 1890, S)ii ,7gs,7ss.
OF the increased stock shown by the above
statement 1853 632, $40 appears In the reports Of
national banks and the government treasury.
The holdings Of the former must be taken for
December 10, 1871, and December /, 1898, their
nearest statements to January being on those
dates, They show holdings rs below: Treas
ury, January /, 1895 S0s767, 1i!; national banks,
December Is, 1897, $751; sos ga; total $685., 375
1855. Treasury January T. 1899, s.slllg.Ssl;
national banks, December /, 1898, 1903 sSs, 7i5;
total S5i5 00S 636, Coin In treasury and national
banks $3.50 3d., $40.
The difference between this and the aggregate
gain estmated for the country, s4O9l9,995 is
considered TO have gone into state and private
banks and general circulation.
The production of gold in all the important
gold fields of the world is increasing rapidly,
ana with prospects OF continued gains for years
TO come. The yield in the world in the calendar
year 1898 was 1887 OOO,OO1 against S33s, 10000 IN
1897. The production In Australia to date In
%
corresponding months In 1898, which indicates a
probable gain for the full year Of $4,000, 900.
The United States, Canada and Mexico will
doubtless increase their products SiS,000 900.
In South Africa the production In the first half
OF the year was - per cent. above the yield OF
the same months in 1898 and II the industry had
been undisturbed, the gain for the year would
probably have been above t20,0)0OOO. As all
these principal districts are now In condition "
produce nj a higher rate than at the opening of
the present year, and all are preparing for larg-
er yields, It is not improbable that when opera
lions are fully resumed in South Africa the
worlds output win quickly pass 500 900 900 per
annum. The worlds stock OF coin Is now being
increased more rapidly, and by higher annual
percentage to the existing stock, than during
the period from 1850 to 1860, when the great out.
| put Of gold from California and Australia star
| tied the economists Of all countries and gave
| the world depreciating standard of value
| The effect Of this new flood of standard money
| upon the markets, the industries, the earning,
| Of those who worl, for wages, and all the vnri-
Gus relations of the people in our present highly
| organized society, will be most interesting
study. II will inevitably be potent factor IN
| affairs.