The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-11-27
Work of Coinage P1ants mt Pbiladel-
phia, New Orleans and San Fran
cisco This ear eve Exceeded.
MANY SMALL PIECES MINTED
TOTAL OF 101,410,5O6 VALUED AT
OVER NINETY-FOUR MILLIONS.
over Eleven Millions SeigniOrage on
Silver, Nickel and Bronze Coins
Turned Into the Treasury.

WASHINGTON, Nov. 26.-George E.
Roberts, 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 coin
age OF the year has never been exceeded,
aggregating 191, 419, 5O6, but in value 1t has
fallen from Sl36, $40, 7S1 in 1901 to S94,526,61s.
this being due to the greater demand for
the small denominations Gold coinage
dropped from 500, O65, 15 TO SCI. 9S0,572, but the
stock of gold bullion on hand increased
from 500, 219, 1893 to s124. OS3, 712. The coinage
of silver dollars amounted to SIS. 4O2, 800.
subsidiary silver coins to SO. 1850 and
minor coins to 81, 429, 1876.
The original gold deposits of the year
amounted to s2,5S,S39 Gold bars taken
for export amounted TO $50. 1892, 67S and for
domestic consumption s14, SIS. The gross
expenditures on account of the mint service,
including loss by wastage in operating
upon he metals, was $3.50, sos. The earn
ings from all charges and incidental gains,
exclusive of seigniorage, aggregated $751;
SOS. The seigniorage realized in the manu-
facture of 1 and scent pieces amounted to
81, 1913 and the total seigniorage accru-
ing on the silver nickel and bronze coins
made in the year was s11, OlS. $50, which was
turned into the general fund Of the treas
ury.
The feature of the report is a description
of the new mint of Philadelphia. The new
ediice occupied during the last fiscal year
is pronounced the finest building ever con-
structed for coinage purposes, and the
equipment, which is practically new
throughout, is believed to include the most
improved machinery and provide for the
most effective methods In use in coinage
establishment. The capacity of the mint at
San Francisco is being increased by the
introduction Of methods and equipment
that have proved successful at Philadel-
phia.
The director says that the increased ca
pacity of the minis at Philadelphia and San
Francisco and the prospective opening of
the new mint at Denver will give the coun-
try a much greater coinage capacity than
Ii has heretofore had, while on the other
hand the pressure on the minis is about
to relax instead of increase. The coinage
OF 100000 silver dollars per month, now re-
CURED by law, will come to al end soon
by the exhaustion of the stock of bullion.
This requirement now calls for the entire
capacity OF the New Orleans mint. When
the dollar coinage ceases, that mint will be
idle unless work is diminished at Philadel-
phia and San Francisco to give 1t en-
ployment. When the Denver mint is OBJ
ened, the bullion output of Colorado and
! possibly. of other mining districts of the
West now going to Philadelphia will be cut
on from the latter institution and, the re-
port says, it is not advisable to reduce still
further its operation in order to supply
work for New Orleans. 1t, accordingly,
is that coinage operations
be discontinued at the latter institution
at the close OF the current fiscal year, and
that it be conducted hereafter as an ASSAY
office. If coinage operations are now dis
continued at New Orleans, so much Of the
machinery there as is in good condition
and of approved design can be transferred
to 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 entering
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 be called
for in a generation to come. Practically
all of the current coinage is being de,
posted in the treasury for certificates.
When gold is required for export it is
wanted in bars, while for domestic circu-
lation the public prefers the treasury GER
t~ificates, which with some modification of
the statutes might as well be issued
against bars.
Under the limitation placed on the stock
of subsidiary silver coin by the act of
March Ia, 1900, no more Of these denomina-
tions can be issued while the demand is
regular and must continue with the growth