The Birmingham age-herald., 1904-12-03
MONEY OUTPUT IS
 GREATEST EVER
Director of Mint Makes His
 Annual Report
FIGURES ARE ENORMOUS
Gold stock of the World in Use as Money Is Estimated at $5,6oo,. 900, ,ooo-coinaee for the
 Philippines.

Wash ngton, December 3.-The director of the mint in his annual report shows that th.7 output of the coinage hints at Philadelphia, San Francisco and New Or leans. which were in operation through out tn, fiscal year, was the largest on record. It estimates the gold stock of the world in use as money on Dec B. 1903 at approximately s5, ,600, 100000, of which about one-half is visible in banks and public treasuries. The estimate of the stock of the United States at that time is 1,3O0. .o0O, GOO. of which sS59 9990O0 was In the treasury and national banks.
 During the year the hints and assay office sold S22,, ,924, 719 worth of gold bars and 2,6oe.a90 fine ounces of silver for use in the arts and manufactures while pri- vate refneries sold s324S,S43 worth of gold ani 17,1s6,16s fine ounces of silver for the same purpose Estimating for the amount of coin melted and dedueting old material used the net consumption of gol1 in the year is estimated to have been: Gold. $24,s77962; silver. s2o,749, 74s ounces.
 Domestic Coinage.
 The total domestic coinage of the Phil adelph.a and San Francisco and New Or leans mints amounted in value to s22S, POP, ,151 while the number of pieces exc cuted fcr the Philippines, Venezuela and Costa Eico, was 219,35 ,442.
 At the request of the secretary of war the purchases of bullion required for the silver coinage of the Philippine islands, authorized by the act of March 3, 1903, were made by the director of the mint, with the approval of the secretary of the treasury. There were purchased from March 26, 1903, to June 30, 1904 for this purpose, 1352S.226 fine ounces of silver, costing $7,376,995. This bullion has been for the government of the Philippine islands. There was also received during the fiscal year at the San Francisco mint old silver coins withdrawn from circulation in the Philippine islands amounting to 2,560, 237 fine ounces for con- version into the new coinage.
 The total coinage for the Philippine islands during the year was L552. .629 pesos in silver and 6S5,s4S pesos in nickel and bronze. The treasury has been reim- bursed for the cost of the Philippine coinage, the total charges therefor to June 30, 1904. being s263964.
 In addition to the foregoing the mint at Philadelphia coined 2100,000 pieces for Venezuela and 630,000 pieces in nickel for Porto Rico. The exhaustion of the stock of silver bullion purchased under the act of July IA, 1890, and the conse- quent discontinuance of silver dollar coinage has necessitated a reduction o1 the force of the New Orleans mint, whcf was chiefly employed upon silver, from 219 in February to 9f In June. The force has been still further reduced since the director recommended that the present provision requiring nickel and bronze coin to be made at the Philadelphia mini be held in order that the other hints may supply their adjacent territory.
 The director calls attention to the fact that under the provisions of the mon etary act of 1900 not more than $50 OO of the $150, ,000 900 gold reserve can be 1T bullion and recommends that this b' changed to permit of a larger supply ol bars.
 Bar Preferred to Coin.
 He says that any important demand upon the treasury for gold is always fol export and that for this purpose bars are preferred to coin.
 The deposits of gold amounted to $177 7533S4. Domestic gold coin abraded oi mutilated amounting to $2,1598lS was re coined on which there was a loss of s17 300. The deposits of old material, jewelry plate, etc., amounted to $4 s929
 The total purchases and deposits of sl yer were as follows:
 In standard ounces: Silver contained in gold deposits 6sO,3f3; for Philippine coinage, 1004S; Hawaiian coin redeeme, 165, ,319; uncurrent domestic coln 2135, 1O6 for return in fine bars, 6.691, 4So; for for eign coinage, 459,030; a total of 20,129, 313.
 On the coinage of domestic subsidiary | coins there was a loss of $172,271, and or the redemption of Hawaiian coin a prof of $6373, due to the fact that these O denominations below the dollar ar, heavier than the corresponding United States coins.
 The seignorage on silver dollars coinet during the year was ss.032, 495, on sub sidiary paper coins $1,950.0 .0S6. and on mi nor coin $1,149,746. The total expendi lures of the service for the year wer. | $1,896,s34.