Evening bulletin. [volume] (Honolulu [Oahu, Hawaii]) 1895-1912, 1902-12-06
GOLD IS BEING STORED
ANNUAL MINT REPORT
OF The UNITED STATES
BUSINESS MEN PREFER cERTIFi.
GATES FOR ORDINARY TRANS.
ACTIONS - SUBSIDIARY
COINAGE DEMAND.

Washington. Nov. 26.--George L.
Roberts. the Director of the Mint, in
his annual report says that the coin
age minis at Philadelphia, New Or
leans and San Francisco were in oper-
alton throughout the fiscal year. In
the number of pieces the coinage of
the year has never been exceeded. ag-
gregating 1871. il9 ,506.. but in value It
has fallen from s1S6.340.7s1 in 1901 to
s9i. 526.677. this being due to the
greater demand for the small denomi-
nations. Gold coinage dropped from
500 O65,715 to 6l,9sO.572. but the stock
Of gold bullion on hand increased from
800. 2l9. 493 TO $124.0S3.7l2. The coin
age OF silver dollars amounted to sl9.-
4O2. 500. subsidiary silver coins to sl0,-
1860 and minor coins to s2.i29,736
The original gold deposits Of the year
amounted to s132 .5s0,S39. Gold bars
taken for export amounted to $36,332.-
67s and for domestic consumption to
s14 i52.57S.
The capacity of the. mint at San
Francisco Is being increased by the in
PRODUCTION there of methods and equip
ment that have proven successful in
Philadelphia. The directors says 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
Il has heretofore had. while on the
other hand the pressure on the minis
is almost ready to relax. instead OF In
crease. 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 en-
tire capacity OF the New Orleans Mint.
mint will be idle unless work is dimin-
ished at Philadelphia and San Fran
cisco to give II employment. When
the Denver Mint is opened the bullion
output of Colorado, and possibly OF
other mining districts OF the West now
going to Philadelphia will be cut of
from the latter institution and the re-
port says II Is not advisable to reduce
still further Its operations In order tc
supply work for New Orleans. II ac'
cordingly is recommended that coin
age operations be discontinued at the
latter institution at the close OF the
current fiscal year and that II be con-
Quoted hereafter as an assay office.
Attention is called to the fact that
the gold coinage of this country Is nov
entering almost entirely into storage
and that the coinage OF the entire an
nual deposits is unnecessary. The
Treasury holds about s500,00O,O00 o!
coined gold. which, the report says, II
doubtless more than will be called fol-
in generation to come. Practically al
OF the current coinage is being deposit
ed in the Treasury for certificates
When gold is required for export 1t 4
wanted in bars. while for domestic cir
culatlon the public prefers the Treas
ury certificates. which. with som'
modification OF the statutes. might a
well be issued against bars.
Under the limitation placed on tn
stock OF subsidiary silver coin by tn
act OF March II. 1900. no more OF thes
denominations can be issued, while tn
, demand Is regular and must continu
. with the growth OF population and bus
. mess. The directors sees no occasio
y for limit on the stock of subsidiar
, coin. inasmuch as its issue and retire
ment is wholly automatic, In respons
to the needs OF the business commur
v ity.