The Salt Lake herald. [volume] (Salt Lake City [Utah]) 1870-1909, 1908-12-14
HUGE PROFIT
MADE BY UNCLE
sam ON SILVER
Bar Metal Made Into Money
Almost Doubled in Value
by Operation.
DIRECTOR OF MINT
MAKES ANNUAL REPORT
STOCK OF GOLD COIN IN THE
COUNTRY ESTIMATED AT
$1,5s5,169,328.

Washington, Dec. 13.-The gov
ernment made a profit during the fiscal
year ended June so, 1908. of $1O,541,S7l
on the collage of silver, nickel and one
cent bronze pieces. This represents the
difference between the price paid by
the government for the metals and their
coinage value. Director of the Mint
Frank A Lodes gives these figures III
his annual report made public today.
The or.ginai deposits of gold bullion
in the minis and assay offices during
the fiscal year amounted to S2O1, 1884,
and un-current United States gold coin
of the face value of S4,O2O.66S was re-
ceived for reooinage- Silver bullion
purchased for subsidiary silver coinage
during the year aggregated 1S,Sl9,219
standard ounces and mutilated and I'M
current United States silver coin of the
face value Of 81. I62, 962 was received for
recoinage There were purchased $685.
$50 ounces of silver bullion for the Phil
ippine government, the cost of which,
S279O54. was reimbursed TO the United
states by that government
Work of the MINIS.
The coinage executed by the mints
during the fiscal year 1908 amounted to
Sls7, 23S, 1897 in gold, of which S106 1872, 420
F4fo-SrNOt
eagles of the designs prepared by the
American sculptor. the late Augustus
saint Gaudens. The amount of subSid-
larry silver coinage executed was 16,-
5S0477 which is the largest subsidiary
silver coinage executed in any one year
since 1877, when the government was
preparing for the resumption of specie
payments by issuing subsidiary silver
coins in redemption of fractional cur
rency. The amount of minor coinage
executed was .S1,946,00S.
There were coined for the government
Of the Philippine islands 25,0O3,915 pieces
Of silver coin of the value of S.131. 1913
pesos. and for the government of Mex
leo 1887, 291 silver fifty centavo pieces.
United States Gold Production.
The director of the mint estimates the
production of gold in the United States
during the year 1907 to have been $780,
4s5 700. and silver for the same period
56,514 700 fine ounces. of the commercial
value of S37, 299, 700, at the average New
York price of silver for the calendar
year 1907, I.amely. 66 cents per fine
ounce.
The director estimates the production
Of the precious metals in the world dur
ing the calendar year 1907 to have been
$40, sos, 800 in gold and 1S5.014.623 fine
ounces of silver of the commercial value
Of 1922 090, 900, at the average price of
silver for the year. The increased pro-
duction of silver for 1907 over that of
1908 was 19.260.O00 fine ounces.
Consumption of Precious Metals.
The consumption of the precious met
ais in the United States in the Industrial
arts during the calendar year 1907 is
estimated in gold, $40. 727 07O. and in sill
yer "a, 1863, 7S4 fine ounces. OF the gold
consumed in the arts. S33, as. 495 was
new material and $7,175.575 in old. OF
the silver used in the arts p. 1928 fine
ounces We're new material and 2.232, 81
fine ounces old
The total receipts of the mintgservice
during the fiscal year 1908 amounted TO
SO. 942. $780,
The stock of gold coin in the United
States June 30 last is estimated at ST.
5S5.169. S2S; silver coins. Sis. Sis, 595, in
Guiding S56S, 259, S12 in silver dollars. gold
bullion held by the. treasury, 1891, 247,
and the silver bullion, S7,972.0O0
The stock of gold coin in the world
Jan. l last is estimated at S7.01E600, 900;
silver coin, SO, $50, zoo. 600 and the uncov-
cred paper, s4.9O2. 5000