The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1902-11-27
STOP COMING GOLD.
Director Of the Mint Says There
Is Enough on Hand.

Washington Nov. 27.-George z. Rob
erts, the director of the mint, in his
annual report says that the coinage
minis at Philadelphia. New Orleans and
San Francisco were in operation
throughout the fiscal year. In number
of pieces the coinage q the year mas
never been exceeded, aggregating 49,
1885. but in value 1t mas fallen from
q 1856. $40. ISL in 1901 10 S9+526.64S. this be
ing due TO the greater demand for the
email denOmina tons. Gold COMA sc
dropped from SIS. 065. us TO SCI. sS0.572, but
the stock Of gold bullion on hand IN
creased from 800 91s 1913 to 1924 0S3 ~
The coinage of silver dollars amounted
to SO, 402 500 subsidiary silver coins 10
SO. rs. 500 and minor coins to s.. 439. s56-
The original gold deposits Of the year
amounted To sl32.5S0.S $50. Gold bars taken
for export amounted to s36, Ss2 SIS and
for domestic consumption Sl4 452-5ls- The
gross expenditure on account of the
mint service including loss Oy wastage
IN operating upon the metals. was 81
s10.503. The earnings from all charges
and incidental gains. exclusive of
seigniorage, aggregated S35I.56S- The
seigniOrage realized in the manufacture
Of one and five cent pieces amounted 10
81. 919 $40 and the total seigniOrage ac-
cruing on the silver. nickel and bronze
coins made in the year was s1l Oh sos.
which was turned into the general fund
OF the treasury.
The capacity of the mint at san Fran
cisco is being increased by the inIroduc-
ton there of methods and equipments
that have proven successful at Phila
deiphia.
The director SAYS that the increased
capacity of the minis a Philadelphia
and san Francisco and prospective
opening OF the new mint al Denver viii
give the country much greater coinage
capacity than it has heretofore had.
while on the other hand the pressure in
the mints Is about TO relax instead Of
Increase The coinage of 100. 900 silver
dollars per month now required by law
will come to an end soon by the sxhaus-
ton of the stock Of bullion. This re-
Quirement now calls for the entire ca
pacity of the New Orleans mint When
the dollar coinage ceases that mint will
be idle unless work is diminished at
Phila delphia and san Francisco to give
employment.
When the Denver mint Is open the
bullion output Of Colorado and possibly
Of other mining districts Of the west
now going 10 Philadelphia viii be cut
OF from the latter institution. and the
report says II Is not advisable TO re-
duce still further its operations in or
der TO supply work for New Orleans
II accordingly Is recommended that
coinage operations BE- discontinued at
the latter institution at the close Of the
current fiscal year. and that il be con-
Quoted hereafter as an assay Office.
If coinage operations are now discon-
tinued at New Orleans much OF the
machinery there IS in good condition and
OF approved design. and can be trans
ferred 70 the new Denver mint and the
estimates for equipment there CORE
spondingly reduced
Attention is called to the fact that the
gold coinage of the country is now en-
tering almost entirely into storage. and
that the coinage OF the entire annual
deposits Is unnecessary The treasury
holds about $500 600. 900 Of coined gold.
which the report says is doubtless more
than will he called for in a generation
to come Practically all Of the curren.
coinage is being deposited in the treas
ury Tor certificates When gold is Re
quired for export it is wanted in bars
while for domestic circulation the uuh-
lie prefers the treasury certifcats.
which with some notifications of th4
statutes, might as we'll be issued against
ba~s
Under the Limitation placed on tie
stock Of subsidiary silver coin BY the
act Of March 4, 1900. no more of these
denomination can be issued while the
demand is regular and must continue
with the growth Of population and bust
ness The director sees no occasion for