Evening times-Republican. [volume] (Marshalltown, Iowa) 1890-1923, 1901-12-10
OPERATIONS Of MINT
Report OF the Director OF the
United States Mint Made
Public.
Nearly 2oo.ooo,ooo Pieces Of
Coin Minted During the
Fiscal Year.
The New Mint at Denver Making
Slow Progress..The Gen.
eral News.

Washington, Dec. 10.-The report OF
George E. Roberts, director of the mint,
upon the operations of the mint service
during the fiscal year ended June 80,
| 1901, has been completed. The coinage OF
the minis during the fiscal year
amounted to 176,9ss,1s2 pieces, Of the
value Of s136, 34o,7s1. OF this, ss9,o65. lis
was in gold, s24,29s,S $50 was in silver dol
lars, $40, 500, 64S was in fractional silver.
| and 50 OO9. 56S was in minor coins. There
also were coined at the Philadelphia
mint 225,000 gold pieces, of the value OF
ss49,o14, for the government Of Costa
| Rica.
The coinage of silver dollars during
| the year was wholly from the stock or
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 s3,2sso54 standard
ounces, and at the end Of the year 3D.
562, 927 standard ounces. The coinage OF
| this bullion has been accelerated to en-
able the treasury to retire the treasury
notes issued in it's purchase, and at the
same time supply the pressing demand
which has existed thruout the year for
small denominations Of money require
in retail trade.
Coinage operations were conducted
during the year in the mints at .Phila-
delphia, San Francisco and New Or
leans. The Philadelphia mint Is now In
| its new quarters, and the old site, In
Guiding the structure. will be offered for
sale to the highest bidder on Dec. 49,,
1901. An upset price Of $2,Q00,000 has
been placed on it. The original cost Of
the ground to the government was $780,
$40. The cost of the new site and struc-
ture has been $2.000,000, and the appro-
priation for equipment $4,000 but a
considerable portion OF the latter is yet
unexpended No pains have been spared
TO provide this mint with the best ma
chinery 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 during
the year, and the supervising architect
finds an additional appropriation neces-
sary before the final contracts can be
let. The appropriation for site and build
ing was 100000, and for equipment
S150,000. The new minis at Philadelphia
and Denver. together with the old zones
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 to
S153, 101, $50, an increase Of SIS, 1S1, SCI over
the preceding year. OF this $27,a06, 48s
was in foreign coin, $17,600,463 that OF
Great Britain, nearly all being from
Australia, and s5,425. 500 that of Japan.
The estimated production OF gold in
the United States during the calendar
year 1900 was of the value of SIS, III 900,
and notwithstanding the fact that this
country led the world in production. its
imports exceeded its exports by $12.S66,-
01O. The production Of North America.
practically all Of which comes to the
United States, was S116,051, 500.
The worlds coinage of gold in the cali
cndar year 1900 was $354,936, 497, and OF
silver s177,011 902.
The Industrial consumption Of gold in
the United States during the calendar
year of 1900 is estimated at $685., 500,
and of the world, approximately s75,0OO.-
COO
The stock Of subsidiary coin in the
country is limited by law to 100000, 600.
and on Nov. l, 1901 the existing stock
was $sO.613,512 The report says it is not
improbable that before another congress
shall have an 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 pur-
chased under the act Of July IA, 1880. for
this coinage, but 1t is necessary that the
limit set upon the stock in the country
be removed or raised.
On Nov 1, 1901, the stock OF bullion
acquired under the act of July IA, 1900
was 5l,763,642 standard ounces. II
enough Of this were coined into dollar
pieces to take up the treasury notes is
sued for its cost there would remain
15. 539,S92 standard ounces. which, con-
verted into subsidiary coin, would give
S19, 1927, 113. 1t is suggested that the limit
Of the country's stock of subsidiary coin
be raised at least to 1920 100000. No good
reason is apparent, says the report. why
the coinage of dollar pieces should not
be allowed to cease. and all OF the silver
on hand be used in subsidiary coinage.