244 WHERE OUR GOLD AND SILVER COME FROM. Gold and Silver of Domestic Production deposited at the Mints and Assay Offices, from their Organization to the Close of the Fiscal Year ended June 30, 1878. Gold and Silver Production of the United States during the Fiscal Year 1878. [Estimate from the Annual Report of the Director of the Mint, December 1, 1878.] NOTE. The annual statement of John J. Valentine, Superintendent of Wells, Fargo & Co.'s Express, San Francisco, of the precious metals produced in the United States during the calendar year 1878 (January to December), was considerably less than the above estimate for the fiscal year ending June 30, 1878. This estimate (based upon the amount of bullion transported by express) was as follows: Gold, $36,956,231; silver, $38,746,391; total, $77,702,622: being about ten millions less than the product of 1877. TOTAL COINAGE OF THE UNITED STATES MINT, 1793 to 1878, INCLUSIVE. From the Official Report of the Director of the Mint. TOTAL COINAGE OF THE UNITED STATES MINT 1793 TO 1877, INCLUSIVE-(Continued). Coinage during Fiscal Year ending June 30, 1878. he total amount purchased for the [silver] dollar coinage up to September 30, 1878, was 17,925,701.99 fine ounces, at a cost to the government of $21,057,369.17, an average cost of 117.47 cents per ounce fine. At the coining rate for standard silver dollars. $1.16 per standard ounce, the above amount purchased will produce $23,176,665.19. All silver is purchased at its gold value, and of the amount paid for silver bullion for the dollar coinage, $7,672,792.95 was paid in gold coin, and $13,384,576.22 in standard silver dollars. VALUE OF FOREIGN COINS IN UNITED STATES MONEY, AS PROCLAIMED BY THE TREASURY DEPARTMENT, The above table exhibits the values in United States money of account, of the pure gold or silver representing, respectively, the monetary units and standari coins of foreign countries, in compliance with the Act of Congress of March 3, 1873, which provides "that the value of foreign coin, as expressed in the money of account of the United States, shall be that of the pure metal of such coin of standard value," and that "the values of the standard coins in circulation of the various nations of the world shall be estimated annually by the Director of the Mint, and be proclaimed on the first day of January by the Secretary of the Treasury." The estimate of values contained in the above table has been made by the Director of the Mint, and proclaimed in compliance with the above stated provisions of law. |