The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1904-05-15
RECORD YEAR FOR
COINAGE OF GOLD
1904 Promises to Surpass
All Previous Amounts.
PANAMA NEEDS CURRENCY
Special Money LIKELY to Be Made for
Payment Of Help on
the Zone.

If the mints keep up their output OF
yellow coins In the next few months as
they have begun, 1904 viii go down in
history as the year of gold.
In January. February. March. and
April. the total coinage Of the precious
metal was three times as much as it
was in all Of 1903. The coinage for
February alone nearly equaled. and
that Of March greatly exceeded. the
mint output. of last year
The record for 1903 was s4S CO. $40. For
this year. up to the present month, 1t
was as follows: January. S2.765. 900;
February, $s5, 500; March, s63,eO5, 100;
April, s2e177.6O0
Double Eagles.
The bulk OF the coinage now being
turned out is in 500 pieces. or double
eagles. Since January 1, 6,S70,477 of
these handsome disks have been made,
and. If the same industry is shown by
the moneymakers for the rest OF the
year. more than 100000 will be melted.
rolled. cut. stamped counted, and sent
broadcast into the marts of commerce
before 1905 comes around.
The comparatively poor showing
made in 1903 in the way of gold coinage
- ttNOuilttQ AOA ny AAf AcNA NiAaN 'AAt
mints were busy making money for
the Philippines. The islanders needed
new money more than tho people of the
United States. though IT is quite prob
able that a great many citizens or this
country stand ready TO contradict this
statement.
Philippines Paper Money.
The order was given to sIdetrack all
other business and make pesos. The
pesos correspond to the Mexican silver
dollar. and are worth as much as an
American 50-cent piece.
Just at present the Bureau of Engrav-
ing and Printing is executing a big or
der for Philippine paper money. the one.
two. and ten peso notes being In the
majority. The notes are half an inch
smaller than United States paper money.
After the coiners and engravers finish
making money for the Philippines. IT is
quite possible that a supply of currency
of some kind will have to be made for
the Isthmus of Panama. The thousands
of workmen on the canal strip must be
paid. and while Colombian silver will
pass muster for a time. IL is not likely
that this money of shifting value will
suffice for all the time that will be re-
quired 10 dig the great ditch. Those
workmen are to be American workmen
to all intents and purposes. and it will
be strange If they are not paid in Amer
lean money before long.
Gold In Bullion.
On May 1 the gold bullion IN posses
sion of the Treasury Department for
purposes Of coinage amounted to Si1,-
730. i42 As purchases are being maze
constantly. that sum may be greatly
swelled by this date. Within tlie last
few weeks more than Sc. 900. 600 worth OF
gold has been received from Japan, sent
over here, for the most part. it is sup
posed. In payment for supplies for the
army and navy.
This SOP 900 came in the shape of
japanese coins. and will be melted TO
make more double eagles. The annual
output of gold from American mines
is about $4,000. 600. The rest Of the yell
low metal coined is brought TO this coun-
try to pay for the cattle. wheat. ma
chlnery, and manufactured goods that
go TO Increase the comfort of mankind
across the seas.