The Saint Paul globe. (St. Paul, Minn.) 1896-1905, 1901-12-09
NEED MORE CHANGE
SUBSIDIARY COIN OF THE UNITED
STATES MUST BE IN
CREASED
DOLLARS AaDRUG ON MARKET
Report of Director of the Mint
George E. Roberts Points Out the
Weakness of the Present
System aOf Coinage

| WASHINGTON, Dec. 8.-The report of
| George q. Roberts; director of the mint,
| upon the operations of the mint service
| during the fiscal year ended June 30,
1901, has been completed. The coinage of
| the minis during the fiscal year amount
| $130,340 7S1. OF this 500, 065, lis was ii gold,
$24, $50 was in silver dollars, $40, 906 648
was in fractional silver, and S2,009,56S was
in minor coins. There also were coined
| at the Philadelphia mint 225, coo gold
| pieces of the value of $349, 014 for the gov
eminent of Costa Rica.
The coinage of silver dollars during the
year was wholly from the stock of bull
| lion accumulated under the act of July
| IA, 1885,. 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 52,562927 standard ounces.
The coinage of this bullion has been ac-
| CELEBRATED to enable the treasury to retire
the treasury notes issued in its purchase,
and at the same time supply the press
ing demand which has existed through
out the year for the small denominations
of money required in retail trade.
Selling Quaker Mint Site.
Coinage operations were conducted dur
ing the year in the mints with Phila-
delphia, San Francisco and New Orleans
The Philadelphia mint is now in its new
quarters and the old site, including the
structure, will be offered for sale 70
the highest bidder on Dec 9, 1901. An
upset price of 100000 has been placed
on it. The original cost of the ground
to the government was $39,S40 The cost
of the new site and structure has been
$2,OOO0000 and the appropriation for
equipment $4,000, but considerable por
ton of the latter is yet uneXpended, 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 1t will be when completed, a
| model institution of it's 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 $50O00e and for equipment $780,,
600. '
The new minis at Philadelphia and
Denver together with the old ones at
San Francisco and New Orleans will af-
ford ample facilities for this country for
many years to come.
Gold Deposits and Production.
The original deposits of gold at the
minis and assay offices amounted to $153,-
101, $50, an increase of $191S1, SCI over the
preceding year Of this $27, 906, 489 was in
foreign coin, ST., 600.463 that of Great
Britain nearly all being from Australia
and S., APE, 800 that of Japan.
The estimated production of gold in
the United States during the calendar
year 1900 was of the value of S79171,000,
and Notwithstanding the fact that this
country1led the world in productions, it's
imports exceeded its exports by $12S66,010.
The production of North America, prac-
tieally. all of which comes to the United
States, was Silt, 051 500. 80. ees
The worlds coinage of gold in the cal
endar year 1900 was $685., 1886, 497 and Of
silver SLIT oil, 902 .l99s ,ss1
The Industrial consumption of gold in
the United States during the calendar
year 1900 is estimated at $16,667,500 and
of the world approximately $75,O0O,OO0.
Short on Subsidiary Coin.
The stock of subsidiary coin in the
country is limited by law to $780, 000, 900,
and on November !, 1901 the existing stock
was S90,613,512. The report says it 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 A. $780, for this coinage, but
it is necessary that the limit set upon
the stock in the country be removed or
raised On November 1, 1901, the stock
of bullion acquired under the act of July