OCR Text |
Show THE NEW SILVER COINS. Dr. Linderman, director of mints, is engaged in perfecting measures for the coinage of the 10, 25 and 50 cent coins in sufficient nu libera to enable the secretary to carry out the law for the redemption of fractional currency, the total amount of which, now in circulation, is $10,783,575, and it is estimated that ot this amount $12,-000,000 $12,-000,000 are in 10 cent notes, $1,500,-000 $1,500,-000 in 15 cent notes, $2,000,000 in 5 cent notes $ 1 0,000,01)0 in 25 cent notes and $15,X)0,ojO in 50 rent nntes. Hence it will require 120,000,-0K) 120,000,-0K) dimes to rcliie the fractional currency cur-rency no'-cs of that denomination, and with the present operations of the niintd two years will bo requirrd lo coin them alone, unices the coinage of all other pieces be suspended mid the whole force ho assigned to work upon them. Forty millions ol quarters will he required to replace the 25 cent notes, and 30,000,000 of half dollars to rt place the ,"U cent notes. It is believed, be-lieved, however, that at least $8,000,-00) $8,000,-00) of the fractional currency has long since been worn out while in circulation and will never ho presented pre-sented for redemption, the Philadelphia Phila-delphia mint the principal work is on small silver coins; hut at the Sun Francisco and Careon city mint, gold coi;:t;;e is forwarded as rapidly as po.iiiblo on account of tho great demand for coin on tho Pacific coast. |