Omaha daily bee., 1899-12-11
Figures from the Report of Director Of Mint
Roberts,
LIMITED ONLY BY MINT'S CAPACITY
Gold Coinage Greatest in Country's
History-WorId's output steadily
Incrcasing-Coinn of Sill
yer Increases, Too,


year than in any previous year. Original
deposits OF gold we're slightly less than dur.
| ing tho previoud year, amounting in value
! to S143, ,497190, against Sl4769 1874 in the
fiscal year ended June 3O 1898. Domestic
/ deposits were the largest in our history
amounting to s76,252, ,4S7, against S69, SS1 12C
in the preceding year, but there was a fall
| ing off in foreign coin and bars.
Tho coinage Of gold was the greatest in
our history amounting to $l0S,l77, $50,
| against S64, S65 in the preceding year and
might have been considerably larger II the
capacity Of the mnts had been greater The
stock of gold bullion on hand increased
from $96,6SS,5S2 on July 1, 1898, to $1l9,SS2
772 on July 1, 1899.
THE coinage If silver dollars from bull
lion purchased under the act of July IA,
$780, was SIS, ,254 7O9 against $40, ,OO2, $50 in
tho preceding year and the coinage of sub
sidiary silver 50 ,S17, against $6,4S2,S04
THE mints have been hard pressed
throughout the year to meet the demands
upon them, the institutions at New Orleans
and Philadelphia running overtime for the
greater part of the year. The pressure at
the San Francisco mint was not so great be-
cause the stock Of silver bullion at that in
stitution was exhausted in August, 1S9S
This mint also converted into coin the full
amount Of its very large receipts of gold
bullion, its gold output being s5S,25S,OOO.
Should Rush Work on New MINIS.
THE mint facilities of the country will
be taxed to their utmost until the new
buildings under construction at Philadelphia
and Denver are completed and equipped.
Tho stock OF gold bullion is accumulating
and, with the present pressure for subsid-
larry coinage, cannot be reduced. Fortu-
nately the large cash balance in the treasury
permits at this time an unusual stock of
bullion without embarrassment, but con-
gress should, at the approaching session,
make an appropriation for the equipment
of the new Philadelphia mint. The build
ing is well advanced towards completion
and as the power plant and much OF the
machinery will require considerable time for
construction, the contracts should be let
during the coming year.
when the present charges for refining
silver were adopted they were applicable to
tho conditions then existing and the gov
ernment' refneries received share of the
business But the cost of treatment has de-
clined and the charges of private concerns
have been reduced, whio tho government
charges have remained fixed. The effect
has naturally been to send the silver bullion
to private refineries While there is no
good reason why the government should
enter into unnecessary competition with
private concerns, it is desirable that so long
as it conducts retineries it should do so
in an economical and businesslike manner"
The total amount of silver bullion refined
in the United States last year was, in round
$4,000 900 ounces.
The superintendent of the, New York as
say office, the report says, has called atten
ton to the fact that although about S30,000,-
600 in United States coin was exported last
year no bars were taken for export and
suggests that the export charge" OF cne-
tenth OF l per cent which is exacted is
operating to our disadvantage.
Exports and Imports of Year.
The total gold imports of the year
amounted to SIS, ,976,S SS2 and exports to $37,-
55O,7S3.
The total silver imports were $31, ,12O57S, |
value and silver exports to $685. |
B55, ,335
The stock of bullion in the mints and as
say offices on July l. 1899, were as follows: |
Gold, $119, $50, ,772; silver (cosD, $S5,575,- |
$685.
During the year $1,16S,S51 in worn and |
uncurrent gold coins were received with
loss of $1O,543, and $S, ,5SS O76 of worn and
lpcurrent subsidiary silver was recoined,
With loss OF $4S5,797
The seignorage on the coinage OF silver
lollars during the year amounted to $500
45; on subsidiary silver, sSs,s3S; en- nickels
md pennies, $69S, ,729. The coinage Of all
lations including recoinages in 1898, was:
Gold 1895, Ar ,905; silver, $149 2S2, ,935.
The government has now practically no
bullion available for the coinage of subsi-
liary currency. 1t has bullion purchased for
he coinage Gf silver dollars, but this can
lot be used without authority from con-
,ress The needs of the country for frac-
ional currency are increasing and legisla-
i've authority for new coinage is impera
lively demanded.
Continuing, the report says:
I'm the report of this bureau year ago
n effort was made to tabulate the principal
tocks OF gold held for monetary use in
he world at the close of the years 1892 and
S97. This table. corrected by returns from
ddtional banks and the elimination OF
ONE errors, shows the stocks OF gold in
light in Europe to have increased by about
0 per cent from December 81, 1898. Euro
ean stocks, instead OF continuing to
Increase. showed a diminution at first,
hough the reduction is likely to cause sur
rise, for with the enormous gold production
( the year, amounting to S2S7, 900 900, the
tocks OF that metal might be expected to
augment
when 1t is considered, however, that the
Tnited States took above 5000, OO0, 900 OF gold
a 1898, that India's net imports were over
20, 900 900 and that the industrial consump-
ion of the world was $65. .00O,O 900, it will be
that no general increase In
European stocks could occur last year. But |
still remains to be explained where the I
isappearing gold OF Europe went to, {
THE total reduction shown by the above
$3.50, 900 and the Russian stock {
hows reduction of l6S,OOO,OOO. But NJ.
g Witte, the Russian minister of finance,
tates in his annual report upon the budget I
bat during the year 1898 there has been {
n increase in the general amount OF gold {
the country. The reduction shown in the G
tock of the Imperial bank has been brought
bout by the monetary reform. The enor- Z
ious stock in the bank at the close OF 1897 :
as provided for the purpose of bringing :
ne paper currency of the country to par .
18th gold and establishing its interchange !
cen paying out gold freely and gold coin, :
ing absent from the circulation Of the >
mpire, has again entered into common
se.' =
In England and Germany.
The Bank Of England and Imperial bank :
Germany both show loss Of gold during
le year, but the record Of the exports and
npnrtg nf Eraat nritafn and Garmanv L