Evening star. [volume] (Washington, D.C.) 1854-1972, 1905-04-16
UNITED STATES LEADS
IN GOLD COINAGE
Director of the Mint Roberts Says the Silver
Dollars Sun Has Set.

mint short time ago looking over the
building and the work. His position CORE
spends with that of our supervising archi-
tect. When he has made plans for the
building and its erection is started we may
have a visit from other representatives
looking into the operations of the personnel
and machinery of our mnts. The Canadian
mint is to be established at Ottawa.
Canada has not bothered about mint
because both English and American gold
are legal tender in that country. 1t is sur
prlSlng how much American gold Is held
by the government and banks of Canada
for reserve purposes. On the Both of June,
1903, the dominion treasury held s23, J54, 4S5
in United States gold coin, and the charter
banks held $10,S75, 800 making a total OF
S34, 430,3S4 of American gold held in re-
serve in that country.
There are now three minis in this coun-
try-at Philadelphia, New Orleans and San
francisco. The Philadelphia mint was es-
tablished in 1892. July 1 there will be four
minis in operation in this country, as a
new one is to be added al Denver. In Eng
land proper there is just one mint, but
there are several minis in Australia and
other colonies, making the total about the
same as our own. The addition of the
Canadian mint will give England an advan-
tage of us in the number"
Amount of Gold Per Capita.
LAS to the per capita of coin In the lead
ing countries of the world, Mr.. Roberts,
how does the United States stand?"
we have more gold in national
treasury and in circulation among the peo-
pie than any other country of the world,
but in subsidiary coinage our per capita
is less than that of many other countries.
France and Germany are both ahead of US
in the per capita of subsidiary coinage and
the total outstanding. This is presumably
because the people of those countries hoard
their small change. In the United States
we use the subsidiary coinage solely for
making change in the transaction of bust
ness, while In most of the foreign countries
the people gather it up for deposits in
stocking legs and other hiding places. I'm
der these circumstances the foreign gov
ernments compelled to keep on making
much small coin to supply business de-
mands and the saving habits of the people.
Over here put our savings in banks and
don't bother with little pieces of money"
''Will our subsidiary coinage increase?"
81 look for the necessity for an increase
IN the coinage of small pieces of money
the business of the country develops. Dur
ing the crop moving and busy seasons much
small change is demanded. AS you know
we have left only 100000 ounces of silver
for subsidiary money, and 1t will not be
but a few months until this is gone. The
Attorney General has rendered an opinion
that the treasury is authorized under
listing laws to purchase silver for subsidiary
purposes.
but not for the making of silver dollars
We will probably be compelled to buy
about 100000 ounces of silver each year in
the future; just how much we don't yet
know We will go into the open market for
this whenever we get ready"
Story of the Silver Dollar
Mr. Roberts furnished some interesting
facts about the silver dollar and the various
financial measures that have affected the
coinage of this best-known piece of Alneri-
can money.
1T is a comparatively unknown fact
among the mass of people, said Mr.. Rob
erts, that mighty few silver dollars were
coined in this country during the first
eighty-sx years of our existence The Phil