Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1900-01-25
GOLD COIN BY THE TON.
Work Done Yearly at the Mint in San
Francisco.

Ordinarily people speak OF gold bull
lion when quantities are mentioned rs
50 many ounces, except in San Fran
cisco, where the receipts OF sold bull
lion at the United States branch mint
are referred to as 81 many tons for
certain days, II sounds like an euor-
nous boast, bordering on the fabulous,
yet ii is true The mint books show
it; the bullion was received, coined and
turned over 10 its owners, One day in
August last four tons OF the precious
metal was recei red At the mint for
coinage. while in October. 1897, the re-
ceipts for one day were six tons
That exceeds the receipts OF any other
mint MS far rs known. ana so does the
total coinage of the San Francisco
branch mint exceed that of any other
of recent years and is still on the in
crease,
The coinage OF the last fiscal year,
ended June 50, 1929 according to the
report Just completed, was the largest
in the history of this mint 1t con
sisted OF l3S,S1S,315 pieces valued NJ
SIS ,S62,275. That coinage has been OK
ceeded i'll amount in the coinage his
tory OF the government ON two OCca-
sions only. At the mint in Phjlad2l.
phia in the year 1861 some $4,000. O00
was coined, and again in the same
place in 1881 something over SIG 900
600 was coined. Since then California
has pushed forward and now holds the
front rank for amounts.
The lal sest amount heretofore coined
in the San Francisco mint during any
calendar year was in 1878, $50, 1856. 900.
This year the coinage is expected to at
least approximate that of 1898. Prior
to 1897 and for fifteen years preceding
the coinage of the San Francisco mint
averaged about $25.000,0 600 year. In
that year the amount took sudden
leap and went up to S40,0S4,29l.
The largest number of deposits for
one month in the history of the mint
was in August, 1899. They reached
1853. aggregating nearly 10000
ounces, value about sl2,50O, 600 For
the three years prior to that time de-
posts averaged from 500 to 700 n
month which was considered very
good business. The heaviest deposits
for one day in that month aggregated
four tons of gold. A large consign-
ment Of English sovereigns arrived
that day from Australia and was sent
to the mint to be reconed; large lot
Of dust and nuggets WAS landed from
the klondike, while some gold came
from Pacific coast mines and Mexico.
This was only exceeded once, as far
as the records show, and that was one
day in October, 1897. The deposits for
the month we're $50, and the coinage
50 100000. But six tons of gold came
in one day, valued at about $1,000 ,000,
rating ton at 100000 which Is the
accepted valuation. This deposit con
sisted largely of British sOvercigns
from Australia, though there was con
siderable Klondike gold received that
day.
For the first two months Of the cur
rent year the coinage wasSl0, 272 ,636,
as against the corresponding two
months of the last fiscal year, $40 697,-
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 bulk of the gold product OF
the north comes to San Francisco the
best record of the output is obtainable
here On Sept. of this year $9,421 ,493
was deposited from that section.
Since that date about 81 100000 more
has been received at the San Francisco
mint, making practically $ll,000,000
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 $14,000,000. II this be
realized it will exceed the output of
last year by 50 900 900.
While the mint at Philadelphia has
produced a larger number of coins dur
ing the same period, requiring twice
the force, the coinage of the San Fran
cisco mint exceeds that OF Philadel-
phia, and, perhaps, of any other mint
in value Philadelphia turns out more
subsidiary coins, but San Francisco
has produced more gold coin in the ag-
grGgate than Philadelphia.
During the week just passed three
car loads Of silver have been received
at the San Francisco mint from Phila-
delphia, quite an unusual thing. The
shipment of that bullion to this city Is
due to the great demand for subsidiary
coin. The large surplus which has
been 'Iept here to meet such conditions
and which has been considered exces
sive for many years became exhausted.
The obviate shipping and reshipping
the government arranged with dealers
to deposit silver in San Francisco and
receive the corresponding amount of
bullion in Philadelphia. All the silver
required for the past year I'D prior TO
that time has been supplied here
through mat agency, until the past few
months, when the extraordinary de.
mand for silver in the orient complete
IL, ~ ut