Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1902-11-27

dropped from S99,065,7l5 to S6l,9SO,o'Z,
but the stock of gold bullion on hand
increased from tl0U,2lg,4sS to Sl24,OsS'lz,
The coinage of silver dollars amounted
to so, 4O2,SOO subidiary silver coins 10
Sl0.7l9,509, and minor coins TO S2,42y,'oo'
The original gold deposits of the year
amounted TO $l32, $50, $50. Gold bars ia
ken for ex ort amounted to $50, S32.biS,
and for domestic consumption sli,452,-
1871. The gross expenditures on account
Of tho. mint service, including loss by
Wastage In operating upon the melais
was $3.50 jOS
The earnings from all charges and in
cidental gains, exclusive of selBnOTaBe
aggregated $357,56S. The seignorage
realized In the manufacture OF one ana
FIVE cent pieces amounted to N,9ls5iV
and the total seignorage accrulng on
the silver nickel and bronze coins maze
In the year was Sll,0l3S56 which was
turned into the general fund OF the
treasury,
The capacity Of the mint at San Fran
cisco Is being increased by the intro
duction there of methods and equip
ment that have proven successful IN
Philadelphia,
The directors say that the Increased
capacity of the minis at Philadelphia
and San Francisco and the prospective
opening Of the new mint at Denver
will give the country a much greater
coinage capacity than II has heretofore
had, while on the other hand the pres
sure on the mint Is almost ready to
relax. instead of increase. The coinage
Of 100000 silver dollars per month,
now required by law, will come to an
end soon by the exhaustion Of the stock
OF bullion. This requirement now calls
for the entire capacity Of the New Or
leans mint. When the dollar coinage
ceases that mint win be idle unless
work Is diminished at Philadelphia and
San Francisco TO give II employment
When the Denver mint 10 opened, the
bullion output of Colorado and possibly
Of other mining districts OF the west
now going to Philadelphia, viii be cut
from the latter institution and the re-
port says II II not advisable to reduce
still further It's operations In order to
supply work for New Orleans, 1t Is,
accordingly, recommended that coinage
operations be discontinued at the latter
institution at the close Of the current
fiscal year, and that IL be conducted
hereafter as an assay office
If coinage operations are now discon-
tinued az New Orleans so much OF the
machinery there as Is In good condition
and of approved design can be trans
ferred 10 the new Denver mint. and the
estimates for equipment there cores
pondlngly 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 100000 900 Of coined gold
which. the report says, Is doubtless
more than will be called for In a gener-
alton 10 come. Practically all of the
current coinage is being deposited in
the treasury for certificates. When gold
IL required for export 1t is wanted In
bars. while for domestic circulation the
public prefers the treasury certificates,
which, with some modification OF the
statutes might as well have Issued
against bars
Under the limitation "'aced on the
stock OF subsidiary silver coin by the
act of March IA. 1900, no more OF these
the demand Is regular and must con-
tinue with the growth OF population and
business. The director sees no occa-
sion for a limit on the stock Of subsi-
diary coin, inasmuch as Its issue and
retirement Is wholly automatic, In res
ponse to the needs of the business com
munty,