Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1902-11-27
MINT OPERATIONS
FOR PAST YEAR.
Report of Director Roberts-GoId
Coinage of Country Now Going
Almost Entirely Into Storage.

WASHINGTON, November 26.-Gecrge
Z Roberts, the Director of the mint, in
lis annual report says that the coinage
mints at Philadelphia, New Orleans, and
San Francisco were in operation through
out the fiscal year. In number of pieces
The coinage OF the year has never been
exceeded, aggregating l9l, 1886 but in
value ii has fallen from Sl36, $40, ISL in
1892. to $94.526, CTS, this being due to the
greater demand for the small denomna-
tons. The coinage Of silver dollars
amounted TO sl9. aO2. 500 of subsidiary silver
coins to $1G,13,5G9. and of minor coins to
81 so. 1856.
The gross expenditures on account Of
the mint service. including loss by waste
age in operating upon the metals, was
E,slO5O3.
The earnings from all charges and in
cdental gains. exclusive of seigniorage,
aggregated s357.5S6 The seignioragc re-
allied IN the manufacture of ] and scent
pieces amounted to $1,919370. and the total
Seigniorage accruing on silver, nickel. and
bronze coins. made in the year, was
Il, OK, $50, which was turned into the gen
e!al fund of the Treasury.
CAPACITY OF MINIS.
The director says that the increased ca
pacity Of the minis at Philadelphia and
San Francisco, and the prospective open
Ing OF the new mint at Denver, will give
ga country a much greater coinage ca
pcity than II has had hitherto while
on the other hand the pressure upon the
m!nts Is about to relax instead of in
creasing. The coming of 1900 900 silver
collars per month, now required by law,
viii come to an END soon by the eXhaus-
ton OF the stock of bullion. This re
Quirenent demands the entire capacity
OF the New Orleans mint When the dol
laf coinage ceases, that mint Will be idle
unless work is diminished at Philadel-
Pha ana San Francisco, TO give it employ
ment. When the Denver mint is opened,
tie bullion output of Colorado, and pos
sbly Of other mining districts of the
West, now going to Philadelphia, will be
cut of from the latter institution, and
The report says it is not advisable to re-
duce sti!l further its operations in order
10 supply work for New Orleans. It ac-
cordiHgly recommended that coinage OPP
erations be discontinued at the latter in
futution, at The close of the current fiscal
year. and that it be conducted hereafter
Us an assay Office.
II coinage operations are now discon-
tnued at New Orleans. SO much OF the
machinery as is in good condition and
Of approved design, can be transferred to
The new Denver mint, and the estimates
Tor equipment there coTrespond,ngly re-
9uCed
GOLD GOING INTO STORAGE.
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 deposit
ls unnecessary. The Treasury holds about
&9p9,ool000 Of coined gold, which, the re-
port says, doubtless is more than would
oe called for IN a generation to come.
Practically all Of the current coinage
IS being deposited IN the Treasury Tor
certificates. When gold is required for
export II is wanted in bars, while for do
nestle circulation the public prefers the
treasury certificates, which. with some
modification of the statutes, might as
@eA be issued against bars.