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Report of the Director of the Mint

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1875 REPORT OF THE DIRECTOR OF THE MINT. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis 1875 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis i 1875 REPORT . OF THE DIRECTOR OF THE MINT. OFFICE DIRECTOR OF THE MINT, Treasury Departments Noveniber 20,1875. SIR : In compliance with the provisions of the coinage act of 1873, I have the honor to submit the following report of the operations of the mints ^nd assay-offices for the fiscal year ended June 30, 1875: The amounts of gold and silver deposits and purchases, coins struck,, and bars manufacturedg were as follows: DEPOSITS AND PURCHASES. Gold deposits - ^3,152, 584 50^ Silver deposits and i^urchases. = 18,304,406 07 Total amouiit received and operated upon 61,456,990 57 Deducting re-deposits—bars made and issued by one institution and deposited at another—the deposits were: Gold $38,556,293 90 Silver 16,070,626 54 Total 54,626,920 44 COINAGE. Pieces. Value, Gold 1,739,062 33,553,965 00 Silver 22,823,216 10,070,368 00 Minor 14,629,500 230,375 00 Total 39,191,778 43,854,708 00 Fine gold $5,279,477 46 Unparted gold 10,740,402 47 16,019,879 93 Fine silver 5,231,915 90 Unparted silver ! 1,719,665 96 Sterling •. 77,848 68 7,029, 430 54 Total gold and silver 23,049,310 47 The distribution of the gold and silver bullion deposited and pur­ chased, including redeposits, was as follows: MINT, UNITED STATES, PHILADELPHIA. Gold deposits , $5,636,376 01 Silver deposits and iDurchases 4,168,412 22 Total 9,804,788.23 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis 1875 294 REPORT ON THE FINANCES. MINT, UNITED STATES, SAN FRANCISCO. Gold deposits 26,335,100 52 Silver deposits and purchases 5,154, 297 38 . Total ^ 31,489,397 90 MINT, UNITED STATES, CARSON. Gold deposits 2,540,057 59 Silver deposits aud purchases r - • 3, 030,910 73 Total : 5,570,968 32 MINT, UNITED STATES, DENVER. Gold deposits... 909,011 02 Silver deposits . 83,108 47 Total, 992,119 49 UNITED STATES ASSAY OEFICE, NEW YORK. Gold deposits i -... 7,608,463 91 Silver dexiosits and purchases ^ -.. 5,866,783 21 Total 13,475,247 12 UNITED STATES ASSAY OFFICE, CHARLOTTE, N. C Gold deposits »- - 6,562 12 Silver deposits ^ »- 127 91 Total. 6, 690 03 UNITED STATES ASSAY OFFICE, BOISE, IDAHO. Gold deposits.. 117,013 33 Silver deposits. 766 15 Total,,. -. 117,779 48 The coinage at the different mints during the fiscal year was as. fol­ lows: Description. Pieces. Value. MINT UNITED STATES, PHILADELnilA. Oold coinage ° 278, 258 $5,162, 870 Silver coinage; (trade-dollars)....' 476, 800 476, 800 Silver coiuage, (subsidiary coin) 11, 010, 400 3,168, 710 Miuor coiuage ' 14, 629, 500 230, 375 Total. 26, 394, 958 9, 038, 755 MINT UNITED STATES, SAN FRANCISCO. Gold coinage 1, 330, 000 26, 200, 000 Silver coinage, (trade-dollars) » 3, 379, 000 3, 379, 000 Silver coiuage, (subsidiary coin) 4, 895, 000 948, 000 Total . 9, 604, 000 MINT UNITED STATES, CARSON. Gold coiuage . 130, 804 2,191, 095 Silver coiuage, (trade-dollars) 1, 841, 700 1, 841, 700 Silver coinage, (subsidiary coin) 1, 220, 316 256,158 Total 3,192, 820 4, 288, 953 Total coinage. 39,191, 778 43, 854, 708 The bars made and issued at the mints and assay offices were as fol­ lows: ^ MINT, UNITED STATES, PHILADELPHIA. Fine gold bars .. $40,713 92 Fine silver bars . 278, 072 74 Total. 318,786 66 Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis 1875 DIRECTOR OF THE MINT. 295 MINT, UNITED STATES, SAN FRANCISCO. Unparted gold bars • 9,624,439 39 Unparted silver bars 836,841 73 Total 10,461,281 12 MINT, UNITED STATES, CARSON. Unparted gold bars 83, 376 61 Fine silver bars 344,728 10 Unparted silver bars 798,821 70 Total o 1,226,926 41 MINT, UNITED STATES, DENVER. Unparted gold bars 909, Oil 02 Unparted silver bars 83,108 47 Total 992,119 49 UNITED STATES ASSAY OFFICE, NEW YORK, Fine gold bars 5,238,763 54 Fine silver bars 4,609,115 06 Sterling bars..... '. 77,848 68 Total , 9,925,727 28 UNITED STATES ASSAY OFFICE, CHARLOTTE, N. C. Unparted gold bars 6,562 12 Unparted silver bars 127 91 Total 6,690:03 UNITED STATES ASSAY OFFICE, BOISE, IDAHO. Unparted gold bars ' 117,013 33 Unparted silver bars : 766 15 Total...... 117,779 48 Compared with the previous year, there was an increase of $3,182- 254.76 in the amount of silver operated upon—$4,086,766.70 in silver coinage and $181,631.36 in silver bars. Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis 1875 EARNINGS AND EXPENDITURES. CO Mints. Assay ofl&ces. 6 ..s o TO i Total. p 1 s s 1"o 1 © 1 rP o ri 1 o PP EARNINGS. $7, 437 -47 $51, 643 76 114, 423 47 $73, 504 70 Parting and other charges 4, 562 94 51; 035 34 50, 067 41 |1, 240 OS $81, 280 35 $265 89 $268 67 188, 720 68 frain hv coinasre of subsidiarv silver coin 218, 745 13 54, 249 70 22, 332 17 295, 327 00 O 140, 778 81 140, 778 81 381 22 18, 043 04 20,515 01 38 939 27 H Kesidue fluxes and sweepings i 1,893 64 2, 019 43 1,137 94 610 45 264 25 5,925 71 Medal nrofits 5, 717 16 5, 717 16 O 371 64 *34, 660 90 35, 032 54 156 25 305 00 461 25 Total 379, 672 62 159,319 87 106, 004 03 1, 850 53 136, 761 26 .530 14 268 67 784 407 12" EXPENDITURES. Regular ordinary account. Salaries ........ .......... 37, 300 00 25, 604 37 24, 235 57 10, 400 00 ..$3,319.33 35,650 00 3, 300,00 6,-800-00 146,609-27 Wages 1.37,156 54 277, 835 09 101, 36'9 07 15, 385 00 2, 380 00 72, 556 89 315 50 2, 534 92 609, 533 01 Coutin<^ent . .. 69, 562 13 77, 983 37 98, 344 41 4, 426 19 4, 023 01 60,199 07 725 04 3,137 42 318,400 64 o Ereio"ht 15, 230 69 15,230 69 . .Minor coinage account. 92, 062 26 92, 062 26 13, 2.52 12 13 252 12 Erei o"h t . »».. 10, 851 98 10, 851 98 7, 966 79 7, 966 79 Difference between assay value of sweeps sold and amount realized 2, 707 09 3, 344 42 3, 553 80 3, 658 71 13,264 02 Grold and silver wasta^^e 3, 504 34 2, 482 44 4, 513 44 10, 500 22 Total 389,593 94 387, 249 69 232, 016 29 30, 211 19 9, 722 34 172, 064 67 4,340 54 12, 472 34 1, 237, 671 00 * Besults chiefly from partible nietal in deposits, not containing a suflacient percentage to defray the expense of parting them individually for tbe depositors, and whicb Digitized for accrueFRASERs to th e Grovernment by parting in tbe aggregate. http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis 1875 DIRECTOR OF THE MINT. 297 Uquiiwient of a refinery in the mint at San Franeisco, enlargement of the melting and refininy facilities in the United States assay office at New- Yorlc., and increased coining facilities at the mints in Philadelphia and Carson, The original xilans for the new mint edifice at San Francisco, and according to which it was constructed, contemplated the use of the nitric acid process for refining. When the building had been completed and occupied for coining operations, it was thought that the space allotted for the refining was sufficient for the employment of the sul­ phuric-acid method, but after the plans and drawings for the same had been prepared, it was found tbat a sufficient capacity could not be obtained, or the iron portions of the rooms secured against serious in­ jury from sulphurous acid gas generated and emitted duringthe refining operation. After an exhaustive examination of the subject, it was de­ termined, with your approval, to equip a nitric-acid refinery, with cer­ tain modifications and improvements, having for their object increased efficiency and reduced cost of separating (usually termed refining) of the precious metals. The arranging of the plan of the refinery and its equipment was in­ trusted to Eobert E. Eogers, professor of chemistry in the University of Bennsylvania, whose eminent qualifications as a chemist and'metal­ lurgist, rendered him peculiarly qualified for this service, and who per­ formed the duty assigned him in an entirely satisfactory manner. Tho refinery has been in successful operation since the 26th day of August last, and with much advantage to the public interests. The business of the assay office in New York has increased to such an extent during the last two years, as to render necessary the occu­ pancy of the rooms in the Wall street building, which have until re­ cently been rented to banking firms. These rooms have been altered, repaired, and otherwise put into condition for the purposes to which they are hereafter to be devoted, and the capacity for melting and refining bullion has thereby been doubled, and the office is better adapted in many respects for the convenient transaction of its business.
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