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One Year's Production

One Year's Production image
Parent Issue
Day
13
Month
August
Year
1886
Copyright
Public Domain
OCR Text

Dr. James P. Kimball, the director of the mint. has completed nis report on the production of gold and silverin theUnited States during the calendar year Itó5. The productton of gold is estima ted at ! 000, an increaso of $1.00J,000 over the timiite for the calendar year 1884. The production of silver for the calendar year ! 1- -."i ealeulated at coining rate in silver dollars is estimated at $51,600,000 against $48,800.000 in 1884, an increase of $2,800,0(0. Colorado stilt retains the foremost rank as the largest producer of the precious metáis. California retaining second positron. The most notable ohange-have been in Montana and Idaho, the production of the former having increasea from $9,000,000 in 1884 to nearly $13,500,000 in 1ÜS5, and the latter from $3,970,000 to $5,300,000 in 1885. Nevada, Utah, New Mexico and Dakota still hold their own, while the production of Arizona has slightly decreased. The coinage executed during the calendar year at the coinage mints con-ited of 47..M 1.521 nieces, of the face value of $56,926,810. Of this amount 8,003,31 pieces, yalued at $27,773.013, consisted of gold coin and 31,'.l25,544pieoes, valuod at $28,962,176, of silver coin, the remainder minor coin. The number oï silver doüars comed during too oalendar year 18S5 was iiifiVJóT. In addition to the coinage gold and silver bars of the value of $27,4:0,095 were ! factured 1 y the mints and assay offices during the year. The total value of the bullion and coin imported into the United 8tates during the calender year was $41,418.129, of whk-h $8.322,5,09 consiste! of bnllion und $33,095,120 of coin. Of the total imports, $ÍSÍ,645.311 consisted of gold and $17,772,718 of silver. Total exporta of fnlcl and silver from the United States uring the same year was $44,697,749, of which tl 1,417,207 was gold and $33,280,542 silver. Wiiile the United States lost by net exportation during the year $15,507,824 in silver, it gained $12,223,104 by the net importation of gold. The report contains an elabórate review of the coin circulation of the United States. The director's ad vanee estímate of January 1,1886, is reviewed as well as the estimates of his predeeeuor. Some errors in still earher estimates have been corrected. A deduction from the stock of gold coin of f15,609.981 is made for bullion in the treasury July 1, 1873, heretofore included as coin, and for an error in exports of gold coin. as reported for 1874, $4,654,714, a total of $20,324,695. This, with the $30,000,000 deductt-.l in his animal fiscal report, make a total deduction of $50,S24,6li5 from the estimates by predecessor of the stock of gold coin in the United States. The Director estímate.-; the amount of gold coin in the United States on January I, 188Ö, to have been $533,45,453; of silver dollars, $218,259,761; subMdiary silver, $75,0S4.U1; or a total stock of coin of $826,779,826. Of the stock of gold coin, the United Statoï treasury held, over and above outstanding gold certifícate, $76,434,379, and the national banl: 156,353,592, including treasury and clearing house certificates. One thousand and fittoen state buuks and trust companies hekl Novemljr 1, 1885, $31,255,789, which left in the hands of th people and othor banks $270,441,693. Of tlie silver dollars which have been coined, the United States Treasury owns (iiot ioïirf".pnteri by silver rertiflontco) $7,5:tó.725; and the national banks, $6,940,628. The amount owned by private individuals and other banks, mcluding thoge in the Tfnisliry reil'esptltftfl hy certiiicates outstanding, was $lMi,?fcO,408. Of the subsidiur y silver, about $ 27,000,000 was in the Treasury and $47,0CO,000 outstanding. The Director reviews the estiruates of coiu circulation by various private and public writers, and adduces facts and figures in support of the correctness of nis own estimates. The report also contains statistics in regard to the consumption of the preciou9 metáis. Circulara we re sent to about s,000 individuáis and firms whose business led hini to suppose that they were consuiuers ut wuion a,iiw provea to te consumen?. The value of the gold used by the 2,7000 firms duriug the calendar year 1885 was reported as folio ws, namely: $10,sa7,944 against $14,500,000 reported by about the same number of firms to the Director of the Mint in 1884. O E Ibis amount about $2,8OU,00J consisted of l'nited States coin, and about $6,000,000 of stamped United States bars. The foreign i-oiii used amounted to $178,000, and oíd jewelry to JW19.009, leaving ouly $4(57,(DX) of nitivc grains and $5511,000 of wire und rolled plate. The silver consumption reported by the same firms was $3,470,000 of wliich $124,910 consisted of United States coin, $,773,975 of United States refinory bars, $40,000 of foreign coin and $219,000 of old jewelry píate, etc., leaving only iW.iXX) of native grain.s and about ?:2lf,000 of wire and rolled plate. The result of this iuquiry leads the director to the couclusiuu elther that the consumption of gold and silver in the industrial arts has fallen off since 1883 or that there is less duplication in the returns than hcretofore as between original and secondary manufacturers. DETROIT MABKETS. Whbat- Receipts have fallen off considerably, although the market is stil) flrm. White wheat is quoted at Tï4ij}77%, and red wheat at7S}i@79y,c. Oats- Quiet, at 32i@33 cents. Cous- Prices range from 43 to 44 cents. Ci-ovkk Sesd- Market nomiual, quotations ranging froin $5 40 to $5 70. Flour - The market was steady and dull at the following rates: Michigan patents, S5 00M5 25; Michigan roller. $4 50@4 65; Michigan superfino $2 75 @3 50; Minnesota patents, $5 -J@5 50; Minnesota bakers', $4 004 25; Michigan rye, $3 55@365; Illinois rye, $3 75@3 85. Hides- Green dry, 6c per lb; country, 7c; cured, 8SKc; green calf. 8@0c; salted do. 910c; lambs and shearlings. 25(c75c; sheepskins with wool. 50c@$150; bulls, stags and grubby, % off. Lite Poultky- Fowls 6@7}ic; spring chickens 10c per lb. Hat axi Stkaw- Car lots of choice baled timothy buyingat $1HOO@14 00, and store lots in smalt bales Relling at ilSOOgi lü CO per ton ; struw in car lots. $5 50@ii DO, and f rom store, $7 5@7 75 per ton. Provisions- Detroit mess, ll 00@11 25; Detroit famfly iork, S12 25 12 75: short clear. $1825@l850;lara in tierces, 7@iJc; half bbls,; @7Jé; in pails,7i@7%c ;hams, l2%e;sEouïder8, }4@$}4o; dried beef, le; baeon,SJi@Skc; extra mess beef, $8 Ö0@3 25; family beef, $9@9 25. BiJTTEK - Uairy receipt-i, best selections, 12@14c; creamery, lS(il!lc; fair to good, 6@Sc; low grades, 5@7c; butterine, Il@l3c per lb. Apples, per bbl. $1 !0@', with 25 @50c per lbl extra for fancy ; pears, common. @l, and Bartletts $50 per bbl; peaches. t i 25@250 per bu ; blue plums, $5 per stand; green gage. $3@2 26 per box; erab hdjiIos tl@l lOperbu; huckelbemea ! 50; blackberries. S '( 1 28. Vegetables- Onions, 2()@25 per doz; lettuce, 20c; cucumbers, 20c per doz;cabbages, Í4@4 50 per 100 for Michigan; cauliflower, $t 50@l 75 per doz; beet. 25c; tomatoes, $125 per bu; Dutch radishes, 25@30o per doz ; green corn, 7@8c por doz. GEN'ERAL l'KODUCE. Potatoes, (Southern) .... 1 65 & 1 75 Tnrnipa 30 @ Onionsf bbl 2 00 @ 2 25 Honey 13 @ M Beans, pickcd 130 @ 135 Beans, uniicked 50 ra ) Beeswux 25 ub 30 Bgga 11 @ 12 Cheesa 9 @ 10 LIVE STOC K. Cattle- Shipping steers, 1,850 to 1,500 Ibs, $4 (!0@5; l.&Wto 1,350 lbs, $4 10@Ui5; 'JSOto l,2ütt Í3(Ü@4 10; stockersandfoeders slow at $:2 4(l@3 50; through Te xns cattle, 10c lower; Texans and lndians $i Mu W, mostly 3@3 40; Western rangers, a thade lower. Hoos- Common lower; rough and mixed $4 15ftM K; packing and shipping, 250 to böO lbs, $4 0 25 10; light weights, 130 to 170 lbs, $4@i 0;skips,$3@l. SniTp- Natives 100 to 120 lbs and over, $-'@i 2.-; SO to H5 lbs, $3@t: 65 to !■ lbs. $2 Western. $2 50(3)3 b0; Texans, $1 753'i; laml.s, Í3 5(@19O per head. The Drovers' Journal London cablegram quoted moderate supplies of cattle prices stcady; good American steers, 12@12}ic per lb dressed. Wool.- Eastern advises say: Michigan wool i a shade ea-sier. It has been hard to edujato buyers to 6S@70c clean for Miihifan X and the pnce eased off a trille, lie variation would huve been groater ïf the foreign markets for fine wool had not shown such strength. Kor somo time ït was practically impossible to sell Michigan X at 82o, and then ït becaine nearly asimi possible to purchase it at 81c and there the market stands.

Article

Subjects
Old News
Ann Arbor Democrat