The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1901-12-09
WORK OF MINT SERVICE
POINTS FROM -E ANNUAL REPORT
OF DIRECTOR ROBERTS.
Coinage During the Last Fiscal Year
Amounted to 176,999,132 Pieces,
valued at SI36,349,7sI.

WASHINGTON, Dec. S-The report of
George f. Roberts. director of the mint,
on the operation of the mint service during
the fiscal year ended June So 1901, has been
completed. The coinage OF the mints dur
ing the fiscal year amounted to 1T. 999 132
pieces of the value of $136. .340,7 ISL OF this,
s99, ,O66.7 715 was in gold, s242. 29S. $50 was in
silver dollars. s10966,e4S was in fractional
silver and $2,O0956S was in minor coins.
There were also coined at the Philadelphia
mint 225.OO0 gold pieces of the value Of
s349,014 for the government 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 bullion on hand at the
beginning OF the fiscal year was S3,26S, ,054
standard ounces, and at the end of the
year s., ,562, ,927 standard ounces. The coin
age Of this bullion has been accelerated TO
enable the treasury TO retire the treasury
notes issued in it's 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 dur
ing the year in the mintS at Philadelphia,
San Francisco and New Orleans The
Philadelphia mint is now in its new quar-
ters, and the old Site including the struc-
est bidder on Dec. 10. 1901. An upset price
of 100000 has been placed on II. The
original cost OF the ground to the gov
ernment was $S5S40. The cost of the new
site and structure has been S2O00,OOG and
the appropriation for equipment $40 900.
but considerable portion of the latter is
spared to provide this mint with the best
machinery to be had, and IL is believed
that in methods and equipment it will be.
when completed a model institution Of its
kind
The new mint under construction at Den
yer has made slow progress during the
year, and the supervising architect finds
an additional appropriation necessary be-
fore the final contracts can be let. The
appropriation for site and building was,
10000. and for equipment $4,000. The new
mints 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 original deposits OF gold at the mintS
and assay offices amounted 10 Sl53 lOl, $50,
an increase of $19 Isl. SOL over the preceding
year. OF this. ~ 600, 4ss was in foreign coin,
81. 900 463 that of Great Britain (nearly all
being Australian), and S,425,5O that of ia
pan.
The estimated production of gold in the
United States during the calendar year 1900
of the value OF $7s.171, 900. and, notwith-
standing the fact that this country led the
world I'm production. its imports exceeded
its exports by sl2 Ol0. The production of
North America. practically al of which
comes TO the United States, was $ll6 col. 500.
The worlds coinage or gold in the cal
endar year 1900 was $S54. .936. .497 and Of silver
S177. OF, ,902
The Industrial consumption of gold in
the United States during the calendar year
1900 is estimated at $l6. 66l 500. and of the
world, approximately, SO. 600,
The stock OF subsidiary coin in the cOun-
try is limited by law 10 100000 600. and on
Nov. /, 1891, the existing stock S90,
6lS,5l2 The report says IL is not impossible
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 given 10 silver
bullion purchased under the act of July a.
lSo. Tor this coinage but IL is necessary
that the limit set upon the stock in the
country be removed or raised on Nov.
J. 1901. the stock OF bullion acquired under
the act OF July IA. 1880. was 81. 763. 6f2 stand
ard ounces. II enough OF this were coined
into dollar pieces 10 take up the treasury
notes Issued for its cost there would
main l5.539.Ss2 standard ounces which.
converted into subsidiary coin would give
81, ,32l. ll3. II is suggested that the limit
OF the countrys stock OF subsidiary coin be
raised 20 al least Sl20. 900 Go0 No good rCa-
son Is apparent. says the report. why the
coinage OF dollar pieces should not be al
lowed TO cease and all OF the silver on
hand be used in subsidiary coinage.