The Montgomery advertiser., 1902-11-27
AME. ZION CONFERENCE HAS TOO MANY MINIS
UNCLE SAM CANNOT KEEP
THEM BUSY.
Director Roberts Recommends That
That at New Orleans Be Aban-
doned-No Use for More
Gold Coin.

Washington. Nov. 26-George E. Rob-
erts, the Director of the Mint, in his an
nual report says that the coinage mints
at Philadelphia. New Orleans and San
Francisco were in operation throughout
the fiscal year.
In number of pieces the coinage of the
year has never exceeded aggregating 49,
AIS, sos, but in value it has fallen from
$136, $40, ISL to s4,52667S, this being due to
the greater demand for the small denom-
nations. Gold coinage dropped from $780,,
O65 lis to SCI 9S0.572, but the stock of gold
bullion on hand increased from $10O,219,
493 to $124,O 712. The coinage of silver
dollars amounts to SIS, 800. subsidiary
silver coins to s10,713,569 and minor coins
to s2,42e,7S6. The original gold deposits
of the year amounted to s132, $50, $50. Gold
bars taken for export amounted to $685.
1892, 67S and for domestic consumption $14,-
452.57s.
The gross expenditures on account of
the mint service, including loss by vast
age in operating upon the metals. was
| 81, $40, SOB The earnings from all charges
| and incidental gains exclusive of seignor-
age aggregates 1885,, 56S The seignorage
| realized in the manufacture of one and
| fve-cent pieces amounted to 81 1880, and
| the total seignorage accruing on the silver
nickel and bronze coins made in the year
$11 013, $50. which was turned into the gen.
eral fund of the treasury
The feature of the report is descrip-
ton of the new mint of Philadelphia,
which Is pronounced the finest building
ever constructed for coinage purposes
The director says the increased capacity
of the minis at Philadelphia and San
Francisco and the prospective of the new
mint at Denver will give the country a
much greater coinage capacity than 1t
has heretofore had, while on the other
hand the pressure on the mint is about to
relax instead of increase. The coinage
of 100000 silver dollars per month. now
required by law will come to an end by
the exhaustion of the stock of bullion.
This requirement now calls for the en-
tire capacity of the New Orleans mint
1t is recommended that coinage opera
lions be discontinued at the New Orleans
institution at the close of the current ifs
cal year. and that 1t be conducted here
after as an assay office
If the coinage operations are discontin-
ued at New Orleans, so much of the ma
chinery there as is in good condition and
OF approved design CdT De transferred 10
the new Denver mint, and the estimates
for equipment there correspondingly re-
duced.
Attention is called to the fact that the
gold coinage of the country is now enter
| ing almost entirely into storage, and that
| the coinage of the entire annual depos-
| it's Is unnecessary. The treasury holds
about $500 600 of coined gold. which,
the report says, is doubtless more than
will be called for in a generation to come.
Practically all of the current coinage is
being deposited in the treasury for GER
| tifcates. When gold is required for ex-
port 1t is wanted in bars, while for do
nestle circulation the public prefers the
| treasury certificate which. with some
notifications of the statutes, might as
we'll be issued against bars.