The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1901-12-09
MONEY COINED
AT THE MINIS
&
Value of Product For Year Was
$l36, 340.78l.
MORE SILVER is NEEDED
DIRECTOR SUGGESTS SUSPEN-
SION OF DOLLAR COINAGE.
MORE SILVER is NEEDED
UTAsHINGTON, Dec. S.-The report

HTASHINGTON, Dec. S.-The report
wv Of George F. Roberts. director Of
the mint, upon the operations of
the mint during the fiscal year ended
June go 1901. has been completed. The
coinage of the mints during the fiscal
year amounted to S176,9S9 ,192 pieces, Of
the value of s136.340. ISL OF this. $685.
O65,715 was in gold, $24.298.S50 was in
silver dollars, SO, 966. 64S was in frae-
ttonaI silver and S2.OO9. 56S was in mi
nor coins. There also were coined at
the Philadelphia mint 225.O00 gold pieces
of the value Of S349, OLA for the govern
ment of Costa Rica.
The coinage Of silver dollars during
the year was wholly from the stock of
bullion accumulated under the act Of
July IA, 1890. The amount of this bull
lion on hand at the beginning of the
fiscal year was 832SS.054 standard
ounces. The coinage of this bullion has
been accelerated to enable the treas
ury to retire the treasury notes issued
in its purchase. and at the same time
supply the pressing demand which has
existed throughout the year for the
small denominations Of money required
in retail trade.
Coinage operations were conducted
during the year in the minis at Phil
adelphia San Francisco and New Or
leans. The Philadelphia mint is now
in its new quarters and the old site.
including the structure. win be Of
fered for. sale to the highest bidder
on Dec. 10, 1901. The upset price of
81, 000. 600 has been placed on it. The
original cost of the ground to the gov
eminent was $35,S40. The cost of the
new site and structure has been $4,000
GOO and the appropriation for equipment
$4,000 but a considerable portion OF
the latter is yet uneXpended-
Best of Machinery.
No pains have been spared to pro-
vide this mint with the best machinery
to be had and it is believed that in
methods and equipment it will be, when
completed, a model institution Of its
kind.
The new mint under construction at
Denver has made slow progress dur
ing the year and the supervising arch
iteet finds an additional appropriation
necessary before the final contracts can
be let The appropriation for site and
building was 100000. and for equip
ment $3.50, 900. The new minis at Phil
adelphia and Denver together with the
old ones at San Francisco and New
Orleans viii afford ample facilities for
this country for many years to come.
The original deposits of gold at the
minis and assay offices amounted TO
1888. 10l $50, an increase Of S1S,1S1, 56l
over the preceding year. Of this So
SOC. 4S9. was in foreign coin, Slr61O, 46a
that of Great Britain nearly all being
from Australia and $5,A25,500 that OF
Japan.
The estimated production of gold in
the United States during, the calendar
! year 1900 was s79,171,00O, and notwlth-
standing the fact that this country led
I the world in productions, its imports
! exceeded its exports by S12S66,010. The
production of North America, practic-
I ally all OF which comes to the
United states. was S116,O51. 500. The
/ worlds coinage of gold in the calendar
/ year 1900 was S254. 1876, 497. and Of silver
I ST.. eli ,902
/ The Industrial coin consumption OF
gold i'm the United States during the
1 calendar year 1900 is estimated at Sl6,-
/ 667. 800. and OF the world approximately
I SIS 600 600
Stock Of Subsidiary Coin.
The stock or suDsldlaiy com IN lht
/ country is limited by law to $l00,0000O0
and on November. 1891, the existing
stock was S90613.562. The report says
/ it is not improbable that before an
other congress shall have opportunity
/ to act. the growing needs Of the coun-
/ try win have absorbed the entire au-
/ thOri1ed issue
BY the act of March IA. 1900, author
ifv was given to use silver bullion
/ purchased under the act Of July IA
I 1880. for this coinage. but it is neces-
sary that the limit set upon the stock
/ in the country be removed or raised
On Nov. I. 1901. the stock of bullior
ACQUIRED under the act of July IA, 1890
I was 5l,763,642 standard ounces I
/ enough Of tlfis were coined into dol
/ lars to take mp the treasury notes is