Delaware gazette and state journal. (Wilmington, Del.) 1883-1902, 1902-08-21
COINAGE or oENrs.
The Philadelphia Mint Turns Out
95.0O0.0O0 Year.


e5.ooo.ooo a Year.
Washington Star.
eYou would think that large
postoffice would take in through its
stamp windows moro pennies than it
pays out, but the contrary is the case"
said clerk in the Washington city
office.
II often have to exchange silver for
pennies in tho afternoon with the news
boys who sell papers on the front steps
of the Postoffice Department building,
and we are always ready to accommo-
date the boys when they offer their
nickels and .diniDs. In this way the
pennies the people pay for papers are at
once thrown into the mighty stream of
circulation, as i often pay out over 800
pennies in q day more than take in.
In fact, We at all times keep reserve
stock Of the little copper. coin.
Yes, know that many people sup
pose We receive. pennies largely in
excess Of what we pay out, the idea
originating, no doubt, because those
who hand In pennies for stamps may
suppose that q maiorityof the sales are
thus paid for. have sold single
penny postage stamp, a 2.cent stamp,
penny newspaper wrapper or single
postal card and received $40 bill to
change. In short, a stamp window of
y postofhce is really a place for chang
ing bills Of all denominations, and
silver coins, especially on the depart
ment days, when the large bills drop
in here like the dry leaves in the fall. -
A Treasury official told the Star man
that there was a big demand for
pennies from all over the country, but
there was no scarcity Of the coin.
"During the last calendar year," he
said, Eve put into circulation about
70, 500, 600 pennies, and the average
yearly output is about 65, 900, 900.
Beginning with August, the mint in
Philadelphia, which is the only mint
where pennies are coined, will begin to
turn them out by the millions to meet
the demand for the fall and holiday
trade. We have greatly increased our
facilities for coming pennies, and we
now have 10 presses for that purpose,
as we do not use the presses with
which, we coin gold and silver pieces
for copper coins We buy the copper
in strips by the avoirdupois pound,
and one press can strike off 100 min
ute, or we can turn out in day of
seven and a half hours about 100000
pennies.
Pennies disappear like pins--no
one knows where they go, but they go,
as may be judged when it is remem-
bered that we have coined in all
10, 600, 600, 900 pennies. The old white
eagle pennies, which few of the present
growth of small boys have seen, are
| redeemed when turned in and made
into nickel pieces, which, by the way,
are more copper than nickel, as they
are made of an alloy of rs per cent
copper and 20 per cent nickel Around
| the holidays aud before the coming
of the circus into town the pennies
are boarded by the small boy all over
the land by the millions, one Wash
ington boy Of my acquaintance having
| dropped into his little home bank Sc
| in pennies to go into a savings bank.
The railroad companies and other cor
porations and firms who receive
pennies in quantities turn them into
the Treasury in bags subject to count,
and they are redeemed in currency.
There .ars untold numbers of pennies
all over the country in the banks of
children, which are withdrawn tenn
porarily from circulation. People do
not like to receive pennies in change,
yet, because they do not like to carry
them in the pocket, often have to 60
out Of their way and TO much trouble
| TO secure them when needed"