Abilene weekly reflector. [volume] (Abilene, Kan.) 1888-1935, 1901-12-12
THE MINT SERVICE.
Director George E. Roberts Makes
His Annual Report.
COINAGE DURING The FISCAL YEAR.
Pressing Demand by the Retail Trade for
Small Denominations Of Monsy-Es-
tlmated Production Of Gold In
the United States

Washington, Dec. 9.-The report o.
Mr.. George E. Roberts, director Of
the mint, upon the operations Of the
mint service during the fiscal veal
ended June 80, 1901, has been com
pleted The coinage of the mintl
during the fiscal year amounted tt
176,999,132 pieces, of the value of $780,,
34O,7Sl. OF this $09,OG5,715 was in
gold, $24,29S,S5O was in silver dollars
$10,066,64S was in fractional silver and
$S,O00,56S was in minor coins.
The coinage Of silver dollars during
the year was wholly from the stock
OF bullion accumulated under the act
of July "A, 1890. The amount of this
bullion on hand at the beginning OF
the fiscal year was S3,2SS,O54 standard
ounces and at the end of the year
59,562,027 standard ounces. The coin
age of this bullion has been acceler-
ated to enable the treasury to retire
the treasury notes issued in its pur-
chase and at the same time supply
the pressing demand which has exist
ed throughout the year for the small
denominations of money required in
retail trade.
The Philadelphia mint is now in It's
new quarters and the old site, includ-
ing the structure, will be offered for
sale to the highest bidder on Decem-
Der 10. No pains have been spared
to provide 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 in
stitution of its kind. The new mint
under construction at Denver has
made slow progress during the year,
and the supervising architect finds an
additional appropriation necessary
before the final contracts can be let.
The new minis at Philadelphia and
Denver, together with the old ones
at San Francisco and New Orleans,
will afford ample facilities for this
country for many years to come.
The estimated production of gold
in the United States during the cal
endar year 1900 was of the value of
T0,l7l,O00, and notwithstanding the
fact that this country led the world
in production, its imports exceeded
its exports by $l2,s66,Olo.
The worlds coinage Of gold in the
calendar year 1900 was $254,o36, 497
md Of silver $i77,Ol1,o
The industrial coin consumption OF
gold in the United States during the
calendar year 1900 is estimated at
1867 800 and Of the world approx
mately $i5,OOO,OOO.
The stock OF subsidiary coin in the
country is limited by law to $lOO,oOo,-
600 and on November I, 1901. tive ex-
listing stock was S9O,6l3.5i2. The re-
port says II is not improbable that
before another congress shall have
opportunity to act the growing needs
of the country will have absorbed
the entire amount authorized. by the
act Of March IA, 1900, authority was
given to use silver bullion purchased
under the act Of July Il, 1890, for
this coinage, but II is necessary that
the limit set upon the suocK in INC
country be removed or raised. On
November /, 1901, the stock of bull
lion acquired under the act of July
IA, 1880, was 51.763,6i2 standard
ounces. II enough of this were coined
into dollar pieces to take up the
treasury notes issued for its cost
there would remain 15,530,s9s stand
ard ounces, which converted into sub
sidiary coin would give si9,321,113. It
Ia suggested that the limit of the
country's stock OF subsidiary coin be
raised to at least $i2O,0OO,00O.