The Glenwood post., 1908-12-19
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The goysfpWsnt made = profit dur
ing the raacal yea, which ended June
80, lSOs,s Of 40, ,s4l,s7l on the coinage
of silver, nie3nal and 1cent bronz
pieces. This represents the difference
between the price, paid by the govern
ment for the metals and their coinage
value Director of the Mint Frank "A.
Leach gives these figures in his annual
report made public Monday.
The original deposits Of gold bullion
in the mint and assay Offices during the
fiscal year amounted to 500, AIS, 1884
and nncurYent United States gold coin
of the face value of $4.020,66s was re-
ceived for recoinage. Silver bullion
purchased for subsidiary silver coin
age during the year aggregated 1888
279 standard ounces and mutilated and
uncurrent United States silver coin
face value of $l,l62,s62 was received
for recoinage There were purchased
535, ,S35 ounces of silver bullion for the
Philippine government the cost of
which $295,O54, was reimbursed to the
United States by that government.
The coinage executed by the mints
during the fiscal year 1908, amounted
to sl97,o3s,377 in gold. of which $l06-
ls2,42O were in double eagles and
$4,s2s,O6O in eagles of the designs
prepared by the American sculptor,
the late August St. Gaudens.
The amount of subsidiary silver coin
age executed was $l6.53O,477, which is
the largest subsidiary coinage execut-
ID in any year since 1877 when the
government was prepared for the re-
sumption of specie payments issuing
subsidiary silver coins in redemption
If fractional currency. The amount of
minor coinage executed was 81 ,946,00S
There were coined for the govern
ment of the Philippine islands 25,003,-
9l5 pieces of silver coin of the value
If 1871, ,793 pesos and for the govern
ment of Mexico 1897 ,o9l silver 50-cent
pieces. The director of the mint esti
mates the production Of gold in the
United States during the year of 1908
to have been 800, ,435 700 and silver for
the same period 56,5l4,70O fine ounces
,f the commercial value of $37 299,7OO
1t the average New York prices of sill
yer for the calendar year 1907, namely
Sc cents.
The director estimates the produc
ion Of the precious metals in the world
Turing the calendar year 1907 to have
been $4lO,555, 300 in gold and 1885 5,Ol4,-
i25 fine ounces of silver of the com
nercial value of 22,O90,OO0 at the
average price of silver for the year.
rhe increased production of silver for
1907 over that of 1906 was 19,260,000
fne ounces The consumption of the
precious metals in the United States in
the industrial arts during the calendar
',ear 1907 is estimated in gold $40,727,-
o70 and in silver 24,369, ,7s4 fine ounces.
Of the gold consumed in the arts
k33, ,549, ,495 was new material and
s7,l75,575 in old. OF the silver used
in the arts 22.l37, ,243 fine ounces were
new material and 2,232 ,54l, fine ounces
yld.
The total receipts of the mints dur
ing the fiscal year 1908 amounted to
slO,942 900. The stock of gold coin in
the United States June 30 last, is es-
timated at 81 l,535 ,169, 1928, silver coin
s7l5,6l5,595. including $56s,259,s12 in
silver dollars, gold bullion held by the
treasury $7s,s7l ,247 and the silver bull
ion (cost yalue) $7-s79,oOO. The stock
Of gold coin in the world, Jan. l, last
is estimated at $7,O14, 100000, silver
.oin $3.50, 100000 and the uncovered
paper &4,3O2.5OO. 900,