The White Pine news. [volume] (Ely, Nev.) 1906-1910, 1908-12-20
Governments Profits on
Silver Coinage in Last
Fiscal Year Ten Million
DIRECTOR OF THE MINIS RE-
PORT SHOWS SOME INTEREST
ING FIGURES On GENERAL
METAL PRODUCTION.

The government made a profit dur
ing the fiscal year ended June 30,
1908. or $10.541,371 on the coinage
of silver nickel and l cent bronze
pieces. This represents the differ
enee between the price paid by the
government for the metals and their
coinage value. Director of the Mint
Frank \. Lodes gives these figures in
his annual report
The original deposits of gold bull
lion in the minis and assay Offices
during the fiscal year amounted to
$207, 415,9S4 and uncnrrent United
States gold coin of the face value OF
$4,020.66S was received for reeoin-
age. Silver bullion purchased for
subsidiary silver coinage during the
year aggregated lS.St927a standard
ounces and mutilated and uncurrent
United States silver coin face value
of S1.162,962 was received for re-
coinage. There were purchased 535,-
$50 ounces of silver bullion for the
Philippine government. the cost OF
which S279,054. was reimbursed to
the United States by that govern
ment.
The coinage executed by the minis
during the fiscal year l sos amounted
TO $197, 23S.377 in gold. of which
were in double eagles
and $4.S29,O60 in eagles OF the de-
signs prepared by the American
sculptor. the late Augustus Saint
Gaudens The amount of subsidiary
silver coinage executed was $i6,530,-
Az, which is the largest subsidiary
silver coinage executed In any one
year since 1877, when the govern
ment was preparing for the resump-
ton of specie payments by issuing
silver coins in redemption
of fractional currency. The amount
of minor coinage executed was ST.
946,00S.
There were coined for the govern
ment of the Philippine islands 20
003 81 > pieces of silver of the value
Of Is, 1913 pesos and for the gov
eminent of Mexico l.397.29l silver.
centayo pieces.
The director OF the mint estimates
the production of gold in the United
States during the year 1907 to have
been $1o4.435. 200 fine ounces of the
value of $37 ,299,700 at
the average New York price OF silver
for the calendar year 1907. namely,
sc cents per fine ounce.
The director estimates the produc-
ton of the precious metals in the
world during the calendar year 1907
10 have been $41u,555. $500 in goid
and 1875 ,014,623 fine ounces of silver
Of the commercial value of $l22,090,-
D00 at the average price of silver for
the year. The increased production
Of silver for 1907 over that of 1906
was 10. 100000 fine ounces.
The consumption OF the precious
metals i'm the United States In the in
iustrial arts during the calendar
year 1907. is estimated in gold $40
1900 and in silver 24,369,7S4 fine
ounces. OF the gold consumed in the
arts, $33 ,b49,495 was new material
and $7.175,575 I'm old OF the silver
used in the arts, 22,137,243 fine
ounces were new material and 2.232.-
Sal fine ounces old.
The total receipts OF the mint ser
vice during the fiscal year 1905
to s1O,942,90O.
The stock of gold coin in the Unit
ed States June 80. last, Is estimated
at 81. SO .169,32S. silver coins $717,-
$685.. including 1868, BESSIE in
silver dollars; gold bullion held by
the treasury. $79.971,247, and the
silver bullion, $7.972,247, and the
silver bullion. $7.972,00O.
The stock of gold coin in the world
January /, last is estimated at ST.
Ola 900, 900, silver coin. s3,750,-
100000. and the uncovered paper,
$4,000, 100000.