The Anaconda standard. [volume] (Anaconda, Mont.) 1889-1970, 1899-12-11
DIRECTOR OF THE mint.
Domestic Deposits Largest in
Our History.
HEAVY COINAGE OF GOLD
The Mnts Hard Pressed to Meet the
Demands Made Upon Them-A
Notable Change i'll
Gold Stocks.

Washington, Dec. 10.--Mr Roberts,
the director of the mint, in his annual
report says:
The minis 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 deposits of gold were
slightly less than during the previous
year, amounting in value to S14S,4 1870.
against Sat 1914 in the fiscal year
ended June 80, 1898. Domestic deposits
were the largest in our history,
amounting to $76 ,4s7. against s64,-
SS1, 120 in the proceeding year, but there
was falling off in foreign coin and
bars.
The coinage Of gold was the greatest
in our history. amounting to s1oS,177,1so,
against $s4, 634,ss5 in the preceding year.
The stock Of gold bullion in hand in
to $119,SS2,772 on July l, 1899
The coinage of silver dollars from
bullion purchased under the act of July
IA, 1890, was s1S,254.709, against s10.O02,-
70s in the preceding year and the coin
age of subsidiary silver $9,466,S77,
The mints have been hard pressed
throughout the year to meet the de-
mands upon them, the institutions at
New Orleans and Philadelphia running
over time for the greater part OF the
year. The pressure at the San Fran
cisco mint was not SO great because the
stock Of silver bullion at that institu-
ton was exhausted in August, 1898. An
arrangement was made with the house
of j. 2. Seligman G. Co. of New York
by which S,193613 fine ounces Of silver
at Philadelphia were exchanged for an
equal amount delivered to the mint at
San Francisco.
This exchange enabled the latter in
stitution to coin the supply of subsi-
diary silver required on the PACING
coast and to assist in the coinage of the
required number OF silver dollars. This
mint also converted into coin the full
amount of it's very large receipts VI
gold bullion, it's gold output being $751;
25S, 600
Mint Facilities.
The mint facilities of the country win
be taxed to their utmost until the new
buildings under construction at Phila-
delphia and Denver are completed and
equipped. The stock Of gold bullion Is
accommodating and with the present
pressure for subsidiary coinage cannot
be reduced. Fortunately the large cash
balance in the treasury permits at this
time an unusual stock of bullion with
out embarrassment but congress should
at the approaching session make appro-
priation of a new Philadelphia, mint
The building is well advanced towards
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 refin-
ing silver were adopted they were appli-
cable to the conditions then existing
and the government refiperies received
a 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 re-
NAMED fixed. The effect has naturally
been to send the silver bullion to pri-
vate refneries. While there Is no good
reason why the government should en-
ter into necessary competition with pri-
waite concerns, it is desirable that SO
long as it conducts refneries it 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
business. Or to such an extent as will
bring them the amount of silver bull
ion they require for the treatment cf
gold deposits.
The total gold imports of the year
mounted to SSS,97S,SS2 and exports tc
$50, 550.7s3.
The total silver imports were $751;.
12e,57s, commercial value, and exports
SIC, 655, 345
The stock of bullion in the minis and
sssay Offices on July /, 1899, was as
follows:
Gold, $119,sS2,772; silver tcost), $751;
SIS, 1903.
During the year $1,16s951 in worn
and uncurrent gold coins We're received
with loss Of $10,543. and S8,5sS,076 of
worn and uncurrent subsidiary coins.