The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1901-12-05
COM of siIver Dollars.

Coinage of Silver Dollars.
The coinage Of silver dollars during
the year was wholly from the stock
of bullion accumulated under the act
of July IA. 1890. The stock of this bull
lion at the beginning of the fiscal year
was S326S,054 standard ounces and at
the close of the year 81, SCI. 922 standard
ounces, but 3,SS2,9 standard ounces
were used in subsidiary coinage. au-
thorized by the act of March a. 1900
The estimated stock of subsidiary
coin in the country March l. 1900 was
$50, 346, 414. of which S5,30S.S41 was in
the treasury. The estimated stock on
Nov. 1, 1901 was $90.613,512 of which
s., 464, S29 was in the treasury, which
shows net absorption BY the country
of SI111.110 in twenty months. The
act of March IA, 1900 limits the stock
of subsidiary coin TO $780, 600 000 and
in view of the steady demand upon
the treasury it is apparent that this
limit should be raised. 1t is not i'm
probable that before another congress
shall have opportunity to act the
growing needs of the country viii have
absorbed the entire coinage author
! lied. On Nov I, 1901, the stock of bull
lion acquired under the act of July IA.
1890, was 51,7636 42 standard ounces. IF
pieces to take up the treasury notes is
sued for its cost, there would remain
15.539.345 standard ounces. which. con-
verted into subsidiary coin, would give
s19,92l113. 1t is suggested that the
limit of the c0untrys stock of subsi-
diary coin be raised to $4,000, Goo
The original deposits of gold bullion
at the minis and assay offices amount
ed To 1913. 101 $50. an increase of S19,-
1851 over the deposits of the pre-
vious year. The original deposits of
silver for return in fine bars amounted
to Sl4,4S5,3S1, coming value, an in
crease of S1,225, 422 during the year
The estimated production of gold in
the United States in the calendar year
1900 was 3,S29 S97 fine ounces. OF the
production of silver in the United
States in the same year was 7647 900
ounces. of the approximate commercial
value Of $35,7l1140.
Gold and Silver Production.
The estimated production of gold in
the world in the calendar year 1900 was
12.4572SI fine ounces, of the value of
S257. 514. 100. The estimated production
of silver in the world in the calendar
year 1900 was us, 700, 796 fine ounces, of
the approximate commercial value of
S110. S54, 600.
The industrial consumption of gold
in the United States in the calendar
year is estimated to have been S16.-
6S7 800. and i'm the world approximate
" 5000 600. Although the United
States led the world last year in the
production of gold. our imports Of that
metal exceeded our exports by the
sum SO. $50. 01O The stock of gold coin
in the country. including bullion in the
minis, at the close of the fiscal year,
was estimated at S1124. So, SIS. and the
stock Of silver coin at $40. 44T.025.
On July /, 1901, there were in active
operation AIS national banking asso-
Citations, with capital stock of $647 $50
695. During the fiscal year 81 banks.
with aggregate capital Of $50 5f7, 600,
We're organized; 81. with capital Of S.
970,000 placed in voluntary liquidation,
and u. with capital of 81, $50, GOO, placed
in charge of receivers. Subsequent to
the close of the year one of the twelve
associations was placed in a solvent
condition and permitted TO resume.
The authorized capital stock Of the