Los Angeles herald. [microfilm reel] (Los Angeles [Calif.]) 1900-1911, 1908-12-14
NATIONS PROFIT
ON COIN IS BIG
.. S. MAKES $1o541,371 IN
LAST FISCAL YEAR
ENORMOUS REVENUE DERIVED
FROM SMALL SPECIE
large Gain to Government Repre-
sented in Difference Between
Cost of Bullion and
Face Value
fBy Associated Press.1

WASHINGTON, Dec. 13.-The gov
eminent made a profit during the fiscaI
year. which ended June 80, 19OS, OF $lV'-
al 81 on the coinage OF silver, nlckel
and one-cent bronze pieces. rms rep
resents the difference between the price
paid by the government for the metals
and their coinage value.
Director of the Mint Frank A Leach
gives these figures in his annual re-
port made public today.
The original deposits of gold bullion
in the mints and assay offices during
the fiscal year amounted to $2Ol' 41o'9S4
and uncurrent United States gold CON
of the face value of $4,020,66S was re-
ceivel for coinage.
Silver bullion purchased Tor supsl-
diary silver coinage during the yeal
aggregated 1S,S19,279 standard ounces
and mutilated and uncurrent Uhlteo
States silver coin face value OF 81
162, 1852 was received for recoinage.
There were purchased $685. ounces
of silver bullion for the Philippine gov
eminent, the cost of which, $29S'O04
was reimbursed to the United States
by that government.
The coinage executed by the minis
during the fiscal year 1908 amounted to
$197. 23S,377 gold, of which S106, 1872, 42C
was in double eagles and $4,S29,06O IN
eagles of the designs prepared by tne
American sculptor, the late Augustus
st. Gaudens.
The amount of subsidiary silver coin
age executed was $16,530,4T, which Is
the largest subsidiary, the largest COIN
age executed in one year since 1871
when the government was prepared fol-
the resumption of specie payments by
Issuing subsidiary coins in redemption
of fractional currency.
AA;uo, Coinsna
The amount of minor coinage execut-
ed was $1,946,0OS.
There were coined for the govern
ment of the Philippine islands 25,O03,-
g15 pieces of silver coin OF the value
Of S1S137, 1893 pesos and for the gov
eminent of Mexico $1,397,291 silver
centavo pieces.
The director of the mint estimates
the production of gold in the United
states during the year 1907 to have
been 800, 435, 200 and silver 1or the
same period 56,514,70O fine ounces Of the
California value, or 1929, 700 at the
average New York price of silver 1or
the calendar year 1907, namely, 66 cents
per fine ounce.
The director estimates the production
of the precious metals in the world
during the calendar year 1907 to have
been $41O, sos, 300 in gold and 1904, go
fine ounces of silver of the commercial
value of s122 100000 at the average
price of silver for the year.
The Increased production of silver
for 1907 over that of 1906 was 19,26O,r
900 fine ounces.
The consumption of the precious
metals in the United States in the in
dustrial arts during the calendar year
1907 is estimated in gold at $4O727OIO.
and i'm silver "a, $685. S4 fine ounces. OF
the gold consumed in the arts S33,549,
4g5 was new material and $1175,575 IN
old.
OF the silver used in the arts p,
137,243 fine ounces were new materials
and 2.232.541 fine ounces gold. The to-
raj receipts of the mint service during
the fiscal year 1908 amounted to &c.,
942. 900.
The stock of gold coin in the United
state. June 30 last is estimated at
81. 535. 169, 1928, silver coins $715,6l5, $50,
including S56S 259,S12 in silver dollars;
gold bullion held by the treasury 49,
971,2 47, and the silver bullion coast
value) $7,979,000.
The stock of gold coin in the world
January 1 last Is estimated at $7,O14'-
500 600. silver coin $3.50, 100000, and the
uncovered paper $4,302, 100000.