Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1908-12-14
GOVERNMENTS
PROFITS ON SILVER

Washington. Dec. I3-The govern
year ended June 80, 1905, or s10.541,
al on the coinage of silver. nickle and
l-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 fig
ures in his annual report made public
today:
The original deposits CT gold bullion
in the minis and assay offices during
the fiscal year amounted 70 s207,415,
9S4 and uncurrent United States gold
coin of the face value of Si,o20,66S was
received for recoinage Silver bullion
purchased for subsidiary silver coin
age during the year aggregated 1S,S1s.-
279 standard ounces and mutilated and
u,i-current United States silver coin
face value of S1.162,962 was received
for recoinage. There We're purchased
535, S35 ounces of silver bullion for the
Philippine government, the cost of
which, S279054. was reimbursed to the
United States by that government.
The coinage executed by the mints
during the fiscal year 1908 amounted
to s197, 23S, 377 in gold. of which $780,
lS2,42O were in>double eagles and ST.
$4,000 in eagles OF the designs pre-
pared by the American sculptor. the
late Augustus Saint Gaudens. The
arnount9of subsidiary silver coinage ex-i
8ecuted was l6,530,477, which is the
largest subsidiary silver coinage ex-.
ecuted in any one year since 1877, when
the government was preparing for the
ing subsidiary silver coins in redemp-
ton Of fractional currency. The
amount of fdinor coinage executed was
q 81. GAG, 00S.
There were coined for the government
of the Philippine islands 25.00S,91
pieces or silver of the value Of 49,
tl31, T93 pesos and for the government
of Mexico 1887 2s1 silver 50-centaVo
pieces
The director of the mint estimates
the production OF gold in the United
States during the year 1907 to have
been 1904 435,700 and silver for the
same period 56,5ii.700 fine ounces Of
the commercial value of SS5, 299,T0 at
the average New York price of silver
for the calendar year 1907, namely, &c
cents per fine ounce.
The director estimates the produc-
tinn OF the precious metals III the world
during the calendar year 1907 to have
been S4lO, 55J.s00 In gold and 1855 ,O14, 623
fine ounces of silver Of the commercial
value of s122, $50, 900 at the average price
OF silver for the year. The increased
production of silver for 1907 over that
q of 1906 was 19,260,0J0 fine ounces.
The consumption of the precious,
metals in the United States in the IN
dustrinl arts during the calendar year
1907. Is estimated in gold s4o.T2T .OT05
and in silver 24,369,7s4 fine ounces. OF
the gold consumed in the arts, s33, 543,-5
49, was new material and s7,175,5I5 in
old OF the silver used in the arts,
~, iS11 ,24S fine ounces were new ma
tteriai and 2,223322, 541 fine ounces old.
The total receipts of the mint Service
during the fiscal year 1908 amounted to
1882. 800.
8 The stock Of Did coin IN the United
States June 80, last Is Estimated at
81, 5S5. ie9. SS2S, silver coins STI1,6I5,595.
including S56S.259,S12 in silver dollars.
gold bullion held by the treasury, S79.-
971 ,247. and the silver bullion, ST.
$4,000.
Tho stock Of gold coin in the world
Jan i. last is estimated at 81 .014. 500, 900:
silver coin, ss.J5o,5o 900. and the un-
covered paper, 81, 800, SOL. COO. N