Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1899-11-23
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the Enormous Amount Of Bullion
lJolued at the San Francisco Mint

Vhe Enormous Amount Of Bullion
Goiued At the San Francisco Mint
Ordinary people speak Of gold bull
lion when quantities are mentioned,
as so many ounces, except in San
Francisco, where the receipts OF gold
bullion at the United States branch
mint are referred to as so many tons
for certain days. 1t sounds like an
enormous boast, bordering on the fab
ulous, yet it is none the less true.
The mint shows it; the bullion was
received, coined and turned over to its
owners. One day in August lass four
tons of the precious metal were receiv-
ed at the mint for coinage, while in
October, 1897, the receipts for one day
were six tons. That exceeds the re-
ceipts of any other mint, as far as
known, and so does the total coinage
of the San Francisco branch mint ex>
coed that of any other of recent years,
and is still on the increase. The coin
age Of the last fiscal year, ending June
80, 1899, according to the report just
completed, was the largest in the his
tory of the mint 1t consisted OF 49,
>873,375 pieces, valued at $63,s62,2N
That coinage has been exceeded Only
in amount in the coinage history OF
the government on two occasions.
At the mint in Philadelphia, in the
year 1861, some $70,OO0,0OO was coined,
and again in the same place, in 1881,
something over $76,OOO,0OO was coined.
Since then California has pushed for
ward, and now holds the front rank
for amounts. The biggest amount
heretofore coined in the San Francisco
mint during any calendar year was in
1878, $5O,1S6,5OO. This year the coin
age is expected to at least approximate
that Of 1895. Prior to 1897, and for the
fifteen years preceding, the coinage at
the San Francisco mint averaged about
$25,000,0O0 year. In that year the
amount took a sudden leap and went
up to $4O,Os4,291. The largest number
Of deposits for one month in the his
tory Of the mint was in August, 1899.
They reached 1853, aggregating nearly
100000 ounces, valued at about $12,-
100000. For the three years prior to
that time deposits averaged from 500
TO 700 a month, which was considered
very good business. The heaviest dc.
posits for one day in that month ag-
gregated four tons Of gold.
The deposits for the month were 955
and the coinage 100000. But six
tons Of gold came in one day, valued
ct about 100000, rating ton at
100000, which is the accepted valua-
tion. This deposit consisted largely Of
British sovereigns from Australia,
though there was considerable Klon-
dixie gold received that day. For the
first two months Of the current year
the coinage was $1O,272,636, as against
the corresponding two months Of the
last fiscal year, $l0,697,S34. Nearly all
the gold from the Klondike and Cape
Nome has found its way of late to
San Francisco. Last year the gold was
sent from Seattle to Philadelphia for
coinage.
Now that the bulk of the gold pro-
duct Of the North comes to San Fran.
cisco the best record of the output Is
obtainable here. On September Of
this year $9,42i ,493 was deposited from
that section. Since that date about
$1,50O,000 more has been received at
the San Francisco mint, making prac.
tically $l1,000,00O from the Klondike
this season thus far. Judging from
the receipts of last year it is safe to
estimate the total output for the year
at $14,000,0OO. II this can be realized
1t will exceed the output of last year
by $3,000,OOO. The average value Of
Klondike gold last year received at the
mint was $l5.15 an ounce, although Il
ranged from $l4.7O to $40.
During the week just passed three
carloads of silver have been received
at the San Francisco mint from Phils-
delphia, quite an unusual thing. The
shipment of that bullion to this city
is due to the great demand for sub
sidiary coin. The large surplus which
has been kept here to meet such con-
ditions and which had been considered
excessive for many years became ex-
bausted. To obviate SHINING and r.
shipping, tile government arranged
with dealers to deposit silver in San
Francisco and receive the correspond
ing amount of bullion in Philadelphia.
All the silver required for the past
year and prior to that time has been
supplied here through that agency,
until tho past few months, when the
extraordinary demand for silver in the
Orient completely exhausted the sur
plus, and silver was worth more IN
Ban Francisco than to New York.
The silver was shipped principally to
ChinA-San Francisco Chronicle.