Rensselaer Union, Volume 10, Number 11, Rensselaer, Jasper County, 29 November 1877 — The Mint. [ARTICLE]

The Mint.

Washington, rtov. 37. Dr. Linderman, Director of the Mint, has submitted his annual report to the Secretary o' the Treasury. The report shows the operations of the Mint and Assay Offices for the last fiscal vear to have been as follows: —— Gold bullion received and operated upon ■ ■ .♦60,382,502 76 Silver bullion received and operated upon 37,429.329 93 T0ta1♦97,811,832 69 Deducting redeposita—liars made and issued by one institution and deposited at another-the deposits were: G01d♦44.078,198 Silver 28,549 935 Minor 62,105 T0ta1.T72.69J&8 Compared with the previous year there was an increase of ♦2,(M2,‘ii2.24 in the amount of gold, and 193,2;in the amount of silver bullion operated upon; 50,899,236.50 in gold coinage, and 69,423,532.50 in silver coinage. The increase alone in the silver coinage over that of the last fiscal year has been greater than the total amount of silver coinage executed in any one year prior to 1874. The trade-dollar continues to grow in favor in Cliina, and a decided preference for it is shown by the Chinese residents in San Francisco, who, on the Ist of October last, were paying for it 2 per cent, above the price of Mexican dollars in London, both coins being nearly equal in intrinsic value. The Japanese are now coining a trade-dollar, with a view of reaping the benefits of a coinage manufactured exclusively for trade purposes, and with the evident intention of exjiorting it to China, where it has been made a legal-tender at one or two ports. In speaking of the coinage of the proposed dollar, the Director says that half of our minting capacity is in the States west of the Rocky Mountains, and where but a small amount of silver dollars will be required for circulation. In order to insure the general distribution of the new coin, the expenses of transportation should be paid by the Government out of the gain or seignorage. He also suggests that the legal tender of a silver dollar should be limited to an amount sufficient, to prevent it from expelling gold from the country, and for the purpose of restricting its issue to' the requirements of the public for such iponey, as well as to keep it at par with the full legal-tender money, it should be issued only in exchange for United States notes and gold coin. If such a restriction be placed on the issue, no limitations as to the amount to be coined will be necessary. These coins should also by law be made receivable by the United States lor all dues except duties oh imports. The Director estimates the present running capacity at about $2,000,000 per month in silver dollar pieces, and believes the issue of that amount would prove of much benefit to the jfublic, aid in i-ti mid at ing a revival <>{ business, steady the value of silver,’ and protect our important silver-mining interests. The Director states that to estimate the amount of coin and bullion in the country is always a matter of uncertainty, one of the obstacles in the way being the impossibility of determining, with any degree of accuracy, the amount of gold and silver consumed in the arts and manufactures and especially as coin as well as bars is used for those purposes. It is also quite difficult to estimate the amount In private hands. Taking these difficulties into consideration be thinks it not far out of the way to state the amount of gold coin and bullion ndw in the country at about $185,000,000, and silver at $50,000,000.