Democratic Sentinel, Volume 9, Number 13, Rensselaer, Jasper County, 24 April 1885 — GOLD AND SILVER. [ARTICLE]

GOLD AND SILVER.

An Interesting Report by Mr. Burchard. Director of the Mint. Mr. Burchard, Director of the Mint, in his special annual report on the production of gold and silver in the United States for the calendar year 1884, estimates the production of the country to have been ; Gold $30,800,000 Silver, computed at the sliver dollar coining rate 48,800,000 Total $7j,6u0,000 This shows an increase over the yield of the previous year of ebout SBOO,OOO gold and $2,400,0110 silver. The total deposits of gold at the mints during the year amounted to $50,518,179, of which $30,807,200 was reported ns domestic. The exports of gold bullion, exclusive of United States bars, amounted to only $115,000. To the amount deposited at the mints and the small amount exported might be added some SOOO,OOO worth of gold contained in silver bullion exported, aud also, possibly, $700,000 of uudeposited gold in the form of nuggets. trains, etc., used in ornamentation, aud 200,000 in bars iu private refineries used for similar purposes, which would make in nil an addition of about $1,500,000. But of the gold received from British Columbia and the Northern States of Mexico, amounting to about $1,000,000, only $400,000 was deposited at the San Francisco mint ns foreign, and the statements furnished by refiners show that it was refined by them and included in refined bullion deposited at that mint under the head of domestic. Deducting this would still leave $500,000 to add to the amount of gold deposited at the mints, so it is safe to assume that the gold product of the mines of the United States for the year 1884 would be understated rather than overestimated by taking the amount deposited at the mints and assay offices ns domestic bullion. The total deposit of silver bullion exclusive of redeposils at the mints and assay offices was $30,670,731, of which $32,305,036 was entered as domestic. The exports of domestic silver were $17,697,067, of which $2,148,578 were United States bars, aud $700,000 Hawaiian coin manufactured of domestio silver of 1884’s production, which would leave the Export of domestic undeposited silver, as entered at the custom nouse at its commercial value, $148,848,479. The exports of silver were $3,256,938, of which $2,296,218 came to the mints, leaving nearly $1,000,000 exported as domestio. Deducting this leaves $13,887,000 as the commercial vhlue of the net export of undeposited domestic silver, which, at its coining rate, equals $16,400,000. It is estimated that about SIOO,OOO worth of domestio silver bullion was furnished by private refiners to jewelers ond others; adding to the amount of domestic silver deposited at the mints the net exports of uudeposited and the amount of undeposited used in the arts, would make the silver production of the country about $49,000,000, or at its commercial value about $42,000,000, which is about $1,500,000 less than Mr. Valentine’s estimate. The product of the year and disposition may be approximately stated as follows: Gold. Silver. Production .$30,800,000 $38,800,000 DispositionDeposited loss foreign. ...$30,000,000 $32,300,000 Undeposited exports 116,000 16,400,000 Undeposited, used In the arts 684,000 100,000 Total $30,800,000 $48,800,000 Fifty-three incorporated companies working gold and silver mines paid during the year in 227 dividends $7,667,695. During the same period some 207 assessments were levied on 117 mines, on which it is estimated that over $4,000,000 have been paid. The Director’s report also contains detailed reviews of the production of the various States and Territories, and of the mining sections And properties, as well as many valuable statistical tables of production, consumption, imports, exports, coinage and circulation, and a number of scientific metallurgical articles.