New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-03-17
REVIEW AND DIGEST
The Gold Movement and United
States Production - InfIu-
enCe on Stock Market
Trade Situation.

Stock Exchange on Saturday last. The
continued demands for gold which
came from foreign centres emphasized
the stress through which Europe is
passing and called attention particu-
larly to the strained conditions exist
ing i'm Germany. Gold shipments from
this port for the week amounted f"
81 $50. GOO which was directed TO Paris
and Berlin. The attention when guld
is receiving at this time and TN" mn
portanCc which some theorists attach
20 production as regulating prices ana
affecting the high cost of living make
apropos some facts regarding the nitod
States Mint and its relative importance
in the worlds output of yellow metal
This country to-day possesses the most
elaborate mint service in the world
comprising coinage plants AT Phlladel-
phia. san Francisco. Denver ana Nc"
Orleans. where more than 6,WD,pD."D
pieces of money have been turned out
There are only six assay offices, located
at Deadwood. Helena, Boise, carson
city. Seattle and New York. Although
the ROYAL Mint of England IS a ia
nous institution and extends back TO
a date of questionable record, II does
not turn out as many coins as the
United states Mint. In fact the COIN
age service Of the United States to-
day exceeds in number of pieces and
in value that of any other country on
the globe. An interesting comparison
which shows the development in the
value Of gold coin in this country Is
exhibited by the comparison between
the years 1910 and 1904. In the for
mer year the total coinage amounted
10 SOL 900. but in the latter year the
largest amount OF gold coin in Amer
lean history was turned out, the value
being S233, 100000
The first mint was established at
Philadelphia in 1892. when that city
was the home Of the national govern
mont and in those days the United
States Mint was very inferior In lis
facilities compared with the Royal
Mint in London. To-day, however, the
American minis are superior 10 those
of other countries in point of economy
and invented facilities. In 1901 new
mint was completed at Philadelphia at
a cost of S2.O25 eco. which made il the
largest and most perfectly equipped
mint in the world. The next largest
and most important mint is the one AT
san Francisco. which was esta bilshed
by an act Of Congress. dated July :.
1S52. Since the discovery of gold in
California in January. 1913, this coun-
try has occupied an important posi-
ton as gold producer. The statistical
figures of the coinage of United States
mints from 1872 to 1912 show that
there were 81. 800 pieces Of gold
coined. having a value Of 81. 80, 49,
273 The coinage OF silver aggre-
gated 2,2Oj,94S.39j pieces. with total
value Of 1916. 2j7 159 60 In copper and
nickel there were 1888, 46oJS6 pieces.
with a total value of So 291 80 81, or
total of all varieties of DIG. 939 J42
pieces having an aggregate value OF
81 319 49, .O13 II. The manufacture of
money is not the only function OF the
mint service. The minis also supply
fine gold and silver bars TO manufact-
uring jewellers, dental supply manu-
facturers and other purposes of indus
try which in some years have sold for
more than S30,OOOOOO.
THE Wall Street Journal" recently
commented on gold depression" as fol-
lows
while some Of our eminent profess
sOrs Of political economy are jealousy
engaged in solving the problem of gold
initiation, and devising new standard
70 take the place of the cheapened'
gold standard, the bankers Of London.
Paris and Berlin are straining every
nerve TO cope with the actually prevail
ing gold famine and TO avoid the neces-
sity OF curtailing credit 10 such an ex-
tent as 80 force serious contraction of
trade. Practical flnanciers and bank
ers have realized for two or three years
that gold imitation is thing OF the
past, that the worlds trade expansion
has outrun its money supply. and that
with all their efforts 10 prevent il bust
ness is steadily drifting toward con-
dition wherein a gold shortage may
force world wide contraction Of trade
similar, so far as it can be under the
changed conditions, TO that which be
gan in 1860"
a tabulation Of the worlds supply Of
gold money since 1891 shows in that
year s.. $40. 934 700, while I'm 1912 the
supply amounted TO S1.66l ,469 800.
Comparing this with the growth Of do
nestle exports of the leading CONNER
cial agents. the figures in 1871 show
81. 992, $4,000 domestic exports and In
1872 the sum of 81, J97 100000 as the
value OF domestic exports. THE Wall
Street Journal" also says:
AS compared relatively To the
worlds production in commerce, gold
supplies really reached their maximum
some time between 1899 and 1902, but
owing To Improvements in methods of
banking the efficiency Of every dollar
of gold reserve so increased that this
gold supply apparently reached its
maximum capacity to finance or handle
l..