Rensselaer Semi-Weekly Republican, Volume 19, Number 16, Rensselaer, Jasper County, 29 October 1897 — MINT REPORT. [ARTICLE]

MINT REPORT.

The Year’s Coinage and PrscioneMetal Production. The report of the director of the mint for the fiscal year 1897, submitted to the Secretary of the Treasury, contains some interesting figures. The report covers the operations of the mints and assay offices, together with the statistics of foreign countries relative to production, coinage and the monetary condition of' such. The coin executed during the year ist Gold, $11,646,705; silver dollars, 21,203,701; subsidiary silver, $3,124,086; minor eoin, $984,509. Silver dollars were coined from the silver bullion on ha nd.. Balance of silver bullion on hand: Purchased under the act of July 14, 1890, 115,438,461 fine ounces, cost $104,336,312; for subsidiary coinage, 1,348,353 fine ounces, cost, $1,041,090; including balance on. hand July 1, 1897, net signoriage on the coinage of silver from that date to June 30, 1897, of $84,822,821. At the average price of silver for the year the commercial ratio between gold and silver is 1 to 31.94. Net imports of gold were $44,609,841, against $78,904,612 net exports for the previous fiscal year. The net exports of silver were $32,636,836, against $33,262,258 for the fiscal year 1896. The product of gold in the United States - for the calendar year 1896 was $53,088,000 and silver of a coining value of $76,069,236. The stock in the United States of gold is $696,270,542; of silver, $634,509,781. The total metallic stock and uncovered paper of the world is estimated for Jan. 1, 1897: Gold, full legal tender silver, $3,615,800,000; limited tender silver, $652,500,000; uncovered paper. $2,569,200. The world’s product for the calendar year. 1896 was: Gold, $204,396,600; silver (commercial value), $109,406,800. The director of the mint reviews the decline of silver since 1873 and attributes it to the great increase in production.