The White Pine news. [volume] (Ely, Nev.) 1906-1910, 1907-08-30
THINKS" AND COMMENT
THE BUSINESS SITUATION

The business community is taking
little more cheerful view of the
outlook this week. Banks all over
the country are today busily engaged
in sending out categorical questions
to many business communities in an
effort to obtain a composite view of
the whole trade situation. To date
the results have not been wholly I'M
favorable; on the contrary, there are
many evidences of a sustained de-
mand in important Industrial and
commodity lines.
The inability at the present time
to sell commercial paper outside of
the bank where the individual cor
poration does its banking, is of
course restricting the borrowing ca
pacity, and it is very possible that in
the end this will prove to have been
a fortunate development, preventing
as it does dangerous overexpansion
and overborrowing.
The brass and copper trade in New
England has probably suffered more
than any other; cotton goods still
continue very active at top prices.
We are told by high officials of the
leading New England railroads that
there are as yet no visible signs of a
severe trade recession in the great
manufacturing cities of that section.
Money is tight and will probably
remain SO for a considerable time
Credits are being carefully scrutin-
lied by the banks, and the CONNER
cial borrower is being urgently adj
vised to reduce his loans and his
stocks of merchandise. Forewarned
is to be forearmed and no sudden de-
velopment is likely further to embar-
rass the general situation.
The total coinage executed at the
minis of the United States for the
first six months of this year amount
ed to sos, 6,324.93, of which 49,
622,33750 was gold, $12,974,534.25
silver ,3S2,137.50 nickel and
$937,315.6S copper. The coins con-
sisted of 2,20S,441 double-eagles, q,
S46,S12 eagles, 1,171,611 half-eagles,
450,937 quarter-eagles, 12,274,679
half-dollars, 13,436,525 quarter-dol-
lars, 34,7S0,635 dimes, 47,642,750
five-cent pieces and 93,731, 56S one
cent pieces. In addition to this there
was coined for Mexico 100000 five
peso pieces, 17,244,0 900 fifty-centavos
and 5,434,699 twenty-centavos for
the Philippine Islands 1000
pesos, 2,20S,625 fifty-centavos, g.
510,651 twenty-centavos and 4,020,-
7S1 ten-centavos; for the government
of Panama 100000 nickel balboas
of two and one-half and one-half cent
denominations.
The July coinage was, in addition
cuted for Mexico, $7,457,000, which
consisted of $4,000 double-eagles,
100000 half-dollars and 10,7OO,0 900
one-cent pieces. The total value of
the United States coins executed for
the seven months ended July 81,
1907, was $103,373,324.93, the num-
Der of pieces being 20,254,95S. The
number of pieces executed for the
governments of Mexico, Philippine
Islands and Panama for this seven
months period was 41,219,995, max
ing the total pieces executed at the
three United States mints 261, 474,-
953.
On July 1st the director of the
mint made effective the long-dormant
regulation relative to silver pur>
chases. Since that date, payment is
made for the full weight of the sill
yer contained in deposited bullion,
based on the assayer's certificate.
Heretofore it had been the practice
to deduct 1-99 of the standard weight
of gold from the silver contained in
the deposits received at the govern
ment minis and assay offices. I'm
doubtedly, the return to the original
ruling may be attributed to the i'm
proved electrolytic refining process
now successfully employed by the
government, whereby cleaner sep
aration of the two metals is made at
less cost than was practical in the
utilization of either the nitric or sui
phuric acid methods. The change
means, of course, that bullion depos-
itors now receive pay for all of the
silver as we'll as all of the gold con-
tents.