Congressional Edition Volume 5946

Congressional Edition Volume 5946

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This historic book may have numerous typos and missing text. Purchasers can download a free scanned copy of the original book (without typos) from the publisher. Not indexed. Not illustrated. 1911 edition. Excerpt: ...advantageously resume operations in the near future, the estimates for 1911 have been made for the conduct of the institution as an assay office only. The appropriations asked total $17,940, which compares with $107,300 appropriated for the fiscal year 1911. THE MINOR ASSAY OFFICES. In the estimates submitted for 1912 the assay offices at Charlotte and St. Louis are dropped, for the reason that the volume of business handled is unimportant and that the few producers making use of them could without much inconvenience send their bullion direct to the mints, thus saving the Treasury not only the cost of maintaining the offices, but the cost of transporting the bullion to a mint. The larger part of the deposits at the St. Louis office come from Chicago and Cincinnati and the depositors could as well send them direct to the Philadelphia Mint as to St. Louis. When the policy of maintaining assay offices in the producing districts was entered upon, the gold production of the country was chiefly from placers and by the labor of individual miners working claims on their own account. The Government assay offices were designed to serve these mining communities by giving reliable assays and by melting the placer dust and nuggets into bars, which were returned to the depositor with the weight and fineness stamped upon them; that is to say, they performed in a simpler manner the function of a mint. Later, the further step was taken, by way of increasing the service of these offices to the public, of buying the bullion at its coinage value, thus saving the mmers from the exactions of the bullion buyer. This was done in 1878, and still later Congress inaugurated the policy of shipping the bullion to the mint at the expense of the Treasury instead of more

Product details

  • Paperback | 122 pages
  • 189 x 246 x 7mm | 231g
  • Miami Fl, United States
  • English
  • black & white illustrations
  • 123655471X
  • 9781236554710