The times. [volume] (Richmond, Va.) 1890-1903, 1902-11-27
ENOUGH GOLD FOR
ONE GENERATION
Current Coinage is Being De-
posted for Cert ficates.
NEW ORLEANS MINT CLOSED
Much Of the Machinery Used There
Viii Be Transferred to Denver.
interesting Facts from Mr.
Roberts Report
NEW ORLEANS MINT CLOSED
nv 4 szociated Press

WASHINGTON. Nov. 2U.-GeorSe T..
Roberts. the director Of the mint. III
MS annual report says that the coinage
hints at Philadelphia. New Orleans anu
San Francisco were in operation through
out the fiscal year. In number OF pieces
rne coinage of the yeal mas never Deeit
exceeded. aggresatinS l?l 4l.oto. oue III
value it has fallen from S13G.5fo.tel. III
1902, to S.i,5aj.GiS. this being due TO
the greater demand for the small de-
nominations The coinage of silver doi-
Iars amounted to sl9.4U..Sno. subsidiary
silver coins to S1o.I13.5G9. and minor
coins to s2.429.7736,
The gross expenditures on account Oh
the mint service. including loss by waste
age in operating upon the metals was
S1,olO.503
The earnings from all charges and In
cidental gains, exclusive of seiSnoirage.
aggregated s:3;5577. 55Ss;. The seignoirase rea-5
lized In the manufacture or one ana
I'VE cent pieces amounted to sloi3.5so
and the total seignoirage accruins on
silver. nickel and bronze coins made In
the year was sl10l3.s56. which was
turned into the general fund of the
treasury.
PROPOSED NEW MINT.
The director says that the increased
capacity of the mints at Philadelphia
and San Francisco and the prospective
opening OF the new mint at Denver vii
give the country a much greater coinage
CAPACITY than 1t has heretofore. while
on the other hand the pressure upon the
minis Is about to relax instead OF in
crease.
The coinage of 10000 silver dollars
per month, now required by law. will
come to AN end soon by the exhaustion
Of the stock of bullion. This requirement
required the entire capacity OF the New
Orleans mint. When the dollar COMA go
ceases. that mint will be idle unless WORK
Is diminished at Philadelphia and San
Francisco to give it employment.
When the Denver mint is opened the
bullion output of Coorado. and possibly
OF other mining districts OF the West
now going to philadelphia Will be cut OF
from the latter institution and the re-
port says 1t is not advisable to reduce
still further It's operations In order to
supply work for New Orleans. It accord
inglv is recommended that coinage OPP
era tons BE- discontinued at the latter
institution at the close OF the curren.
fiscal year and that It be conducted
hereafter as an assay Office.
TRANSFER OF MACHINERY.
r. coinage operations are now discon-
tinued at New Orleans so much machine
ry there as is in good condition and OF
approved design can be transferred to
the new Denver mint and the estimates
for equipment there correspondinsly re-
duced
Attention is called to the fact that the
god COMA ge Of the try Is now en-
terfns almost entirely into storage and
that the coinage Of the entire annual
deposits is necessary. The treasury
holds about s5oocdOooO Of coined gold.
which. the report says. doubtless IS more
than would be called for in a generation
to come.
Practically all OF the current coinage
is heing. deposited in the treasury for
certificates When gold Is required for
export it is wanted In bars. while for
domestic circulation the public prefers
the treasury certificates. which with
some modification OF the statutes. might
as well be issued against -