Wheeling register. [volume] (Wheeling, W. Va.) 1878-1935, 1899-12-11


Six Hundred Thousand Dollars.
WASHINGTON, December 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 previ-
Gus year. Original deposits of gold
were slightly less than during the pre-
vious year, amounting in value to S143,-
7,190. against STAT .693, 1874, in the fis-
cal year ended June 80, 1898. Domestic
deposits were the largest in our his
tory, amounting to $76,252, 4S7 against
$69,SS1,120 in the preceding year, but
there was falling off in foreign coin
and bars. The coinage of gold was the
greatest in our history, amounting to
Sos, $50 against $64. 634,S65 in the
preceding year, and might have been
considerably larger if the capacity of
the minis had been greater. The stock
of gold bullion on hand increased from
$96,6S8,5S2 on July 1st, 1898, to s119,-
8S2,772 on July LIST, 1899. The coinage
Of silver dollars from bullion purchased
under the act of July IA, 1890, was
SIS, 254,709 against $4,000, 780 in the
preceding year and the coinage of sub
sidiary silver 1885, 77.65 against &c.
1854.
The minis 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
cisco mint was not so great because the
stock of silver bullion at that institu-
ton was exhausted in August, 1896.
An arrangement was effected with the
house of J. & w. Seligman & Co., New
York, by which 3,193,613 fine ounces Of
silver at Philadelphia were exchanged
for and delivered to the mint at San
Francisco. This exchange enabled the
latter institution to coin"
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 the moderate amount Of silver
bullion they require for the treatment
of gold deposits. The total amount Of
silver bullion refined in the United
States last year was in round numbers
$4,000 ounces.
'The superintendent of the New York
assay Office the report says, "has cali
ed attention TO the fact that although
about $4,000, 900 in United States coin
was exported last year, no bars were
taken for export, and suggests that the
export charge of one-tenth of one per
cent which is exacted is operating to
our disadvantage. There is no objec-
tion," says Director Roberts, Sin fore
ing the public to take our coin out Of
the country by making it more expen-
sive to take bars. We had better furn-
ish the raw material than the manu-
fac5ured article. These bars viii have
to be shipped from New York to Phha-
delphia. melted and worked into coin
at some waste and considerable ex-
pense to replace the coin exported,
while the bars would have served every
purpose for export. The export charge
was put on bars several years ago,
when gold exports were heavy and
some means to discourage them was
sought. When the current coin Is
abraded exporters will pay slight
premium 10 get bars, which are full
weight, but our current gold coin Is
now largely new and on the average
close 20 standard and exporters are pre-
ferring to ship it rather than to pay
the bar charge"
The total gold imports OF the year
amounted to sSs,s7S.ss2. and exports to
s37, 550.7s5. The total silver imports
were s31. 120.57S, commercial value, and
silver exports s5s.e55,335. The stock OF
bullion In the minis and assay Offices
on July LIST. 1889. was a. follows:
Gold. l1s,Ss2.772; silver. (cosD, $751;
575,s9s.
During the year s1,16S.s51 In worn
and uncurrent gold coins were received
with loss of sl0.543, and 1855 ,07s OF
worn and uncurrent subsidiary silver
was re-coined with loss Of sza5.7s7.
The seigniorage on the coinage Of silver
dollars during the year amounted 10
$3.50 .145;: on subsidiary sEixer }S6. ass;
on nickeIs and pennIe9 1ss9. 7zs. The
Csnffnuea On 1hfeo Rnee.