Silver Dollars & Trade Dollars of the United States - A Complete Encyclopedia

"For some time prior to March 1885, Assistant Secretary French, Treasurer Wyman, and Director Burchard recommended acceptance of offers for sale of silver to be delivered at Carson only when the rates were such that the cost of transporting the resulting coin to the Atlantic coast, added to the price of bullion, would not exceed the cost at the mints at Philadelphia and New Orleans.

"The deposits of gold bullion at the Mint at Carson during the fiscal year 1885 amounted in value to $1,505,665, and the purchases of silver to $1,159,138. During the same year the coinage was: Gold $1,051,060; Silver $776,000."

"[The following related items are reproduced from the] Report of the Director of the Mint, 1885, pp. 56, 66.]

"On March 8, 1885, the Superintendent, Mr. James Crawford, died. Business was suspended and the mint closed, pending appointment and qualification of a successor, until April I, when the new superintendent and new coiner assumed office.

"March 28, 1885, the balance of the regular appropriation for 'wages of workmen' being but $7,200 for four months' operations, the director of the Mint, with the approval of the secretary of the Treasury, ordered the suspension of coinage (which had not been resumed) for the remainder of the fiscal year 1885; also, that the force of clerks, workmen, &c., be reduced to the lowest possible limit. The receipt of bullion for 'parting and refining,' and local purchases of silver for the standard dollar coinage, however, were allowed to continue.

"May 8, 1885, by Department order, the Superintendent at Carson was instructed to discontinue the purchase of silver bullion until further notice.

"May 30, 1885, the secretary of the Treasury authorized the Treasurer of the United States to instruct the superintendent of the Mint at Carson as well as Assayers in charge of the United States assay offices other than at New York that thereafter funds to be used by them for the purchases of bullion would be placed with the Assistant Treasurers at New York and San Francisco.

'June 11, 1885, the secretary further directed that no silver be purchased, except silver 'parted' from gold and deposits of mutilated United States coins, and also that a charge be imposed on deposits of gold bullion to cover transportation to the mint at San Francisco.

"August 14, 1885, the Coiner, for want of occupation, was suspended by the president.

"November 6, 1885, it was ordered that the Mint at Carson be closed to receipt of deposits, and clerks, assistants, and workmen be discharged.

"November 16, 1885, the melter and refiner and the assayer were suspended by the president.

"The falling off in the business of the Mint at Carson, which led to the closing of that institution, will, in connection with the above statement, be exhibited by the fact that during the first three months of the fiscal year 1886 the deposits of gold at that institution had fallen to 518 standard ounces, from 23,333 standard ounces for the corresponding period of 1885.

"It having been urged upon this Bureau that the prospects for business had become so greatly improved as to justify the reopening of the mint, I undertook to solicit, through Super-intendent Garrard, from parties most interested in such a measure, some guaranty which might justify the Department in carrying out the recommendations looking to that end on the footing, at least, of an assay office.

"The estimate by the Department for the expenditures of the Mint at Carson was for an amount sufficient alone for the proper custody of the building and its contents. But no such appropriation having been reported in the Legislative, Executive and Judicial Appropriation Bill, 1 took occasion, on 5th June, to submit the proposition whether it would not be well to suggest for the consideration of Congress an appropriation the same as that for the previous fiscal year. This was in view of the fact that representations had been made to the Bureau of the Mint of the readiness on the part of certain producers of bullion to deposit the same at the Mint at Carson instead of sending it to private refineries, on condition that certain benefits, which it was claimed are conferred by the law, but which during the year 1885 had been withdrawn from that institution in common with some others by the action of the Department, were restored.

"The recommendation was made especially in view of the fact that the omission of the usual appropriation for the Mint at Carson would deprive that institution of the means to reopen either for the receipt of bullion or for coinage operations, if in the course of the year, at the discretion of the Department, it should be deemed expedient.

"I took occasion also to say that it was doubtless true that the cessation of deposits atthe Mint at Carson was largely due, first, to the payment of depositors by draft instead of in cash; and, second, to the collection of a transportation charge from depositors for the cost of transportation of refined bullion to the Mint at San Francisco, by express. "Up to the close of the fiscal year no guaranty could be obtained which seemed to justify, in the opinion of the Bureau, the resumption of operations at that mint even on a reduced scale.

"Since the close of the fiscal year, however, representations have been made to this Bureau to show the existence of such conditions as might reasonably be expected to provide business for this mint conducted as an assay office. And claims have been urged on the Department of the right of producers within reach of this mint to deposit their bullion and to receive payment therefor in current funds.

"In recognition of such claims it was decided to reopen this mint to depositors, [ and to provide for the payment of deposits in current funds.

"On October 5, 1886, the president appointed Dr. David K.Tuttle to succeed Mr. Stevens as melter and refiner, and Mr. Joseph D. Ryan to succeed Mr. Hetrich as assayer."

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