THE PRODUCTION OF THE PRECIOUS METALS OR STATISTICAL NOTICES OF THE PRINCIPAL GOLD AND SILVER PRODUCING REGIONS OF THE WORLD; WITH A CHAPTER UPON THE UNIFICATION OF GOLD AND SILVER COINAGE. BY WILLIAM P. BLAKE, COMMISSIONER FROM THE STATE OF CALIFORNIA TO THE PARIS EXPOSITION OF 1867 . NEW YORK: GEORGE P. PUTNAM & SON. LONDON: TEUBNEE & CO. 1 869 . 0 © PREFACE TO THE AUTHOR’S EDITION, As only a limited number of copies of this work has been issued by the government, separately from the series of reports of the United States commissioners to the Paris Exposition, the author has secured a small edition from the government plates, and has added in this preface the statistics of the gold and silver yield of the Pacific coast for the year 1868, and a short notice of the new silver region of White Pine. The statistical returns of the production and export of gold and silver of the Pacific States and Territories for the year 1868, show a decrease of production compared with 1867 and former years. The total receipts at San Francisco of uncoined bullion from the interior were as follows: From the northern mines, including bullion of Nevada, and some from Idaho and other sources, $36,429,262; from the southern mines, $2,888,781; total $39,318,043, being $1,273,940 less than in 1867. The receipts from Washoe, Esmeralda, and Reese river, State of Nevada, which are included in the above, are stated at $15,250,000 for 1868, being a decrease of $2,750,000 from the yield for 1867. The receipts from all sources, including coin , are reported to have been from— Im ports. $2, 815, 961 Receipts coastwise, (including Victoria). 6, 757,137 Northern and southern mines. 45, 932, 736 Total for 1868. 52,505,834 Total for 1867.. 56, 726, 856 Decrease 1868 $4,221,022 4 PREFACE TO THE AFTHORS EDITION. Tin- actual supply of gold ami silver tor IStiS, as compared with that for lst 17 ami ISfifi. is stated l*\ tin* statistician of the Alta as follows: ltiillini). 1 Still. 1867. 1868. cut to mint. 817,1117, 096 810,265,376 $17,367,000 xport, pold bars per steamer. 23, 707, 004 18,222,246 16,302,849 'pert, pold bars per sail. 1,268,460 1,404,927 1,262,376 xport, pold dust per sail. 20,000 62,770 30,606 xport, silver per steamer. 9,030,036 0,759, 890 10, 966,671 3,946,114 5,468,370 2,935, 422 Total. 836,597,770 $54,183,593 $48, 864, 924 The same authority gives the following statement of the exports of treasure during the years 1S(>7 and 18(18, respectively: To— 1867. . 1868. China. $9,039,530 07 $6,192,995 40 Chili. 723,450 97 Central American ports. 654,498 85 728,474 00 England. 5,905,799 49 6,226,097 68 France . 1,659,951 00 1,091,343 26 Japan . 648,049 52 777,459 46 Mexico. 34,000 00 13,000 00 New York. 29,356,424 67 21,104,611 17 Sandwich Islands. 47,032 32 89,110 00 Society Is lauds. 500 00 Vancouver Island. 155,000 00 135,000 00 Totals... 48,224,236 89 36,358,090 97 Add net duties. 7,622,827 00 7,760,411 16 $55,847,063 89 $44,118,502 13 1 H crease l?v>**.. 11,728,561 76 These figures differ somewhat from those published in Carman y’8 Annual Review, which gives the exports for 1867 as $41,676,722, and PREFACE TO THE AUTHOR’S EDITION. 5 for 1868, $35,444,395, (exclusive of duties,) showing a decrease of $6,232,236. The exports, as given above, consisted of— Steamers east. China, &c. Total. Gold bars. $16,302,848 98 10,966,672 75 1,894,004 38 $1,262,375 92 2,935,421 79 748,868 05 30,606 60 2,217,292 50 $17,565,224 90 13,902,094 54 2, 642,872 43 30,606 60 2,217,292 50 Silver bars. Gold coin_ Gold dust. Mexican dollars. Total .. $29,163,526 11 $7,194,564 86 $36,358, 090 97 and included some foreign gold coin. The very considerable decrease in the exports which these tables show may be explained in part by the increased production and export of other commodities and the growth of manufactures. Since 1866 the export of cereals has been very large, being valued at over $31,000,000 in the last three years, and the industrial development of the country has been so rapid that more of the precious metals have been retained for circulation, and the exports of treasure do not so directly indicate or measure the production as formerly. The coinage for several years past has ranged from $18,000,000 to $19,000,000 annually, while the exports of coin, including that shipped for duties, have been much less, showing a steady accumulation of specie upon the Pacific coast, for which, perhaps, suffi¬ cient allowance has not been made in some of the estimates in the body of this volume. The actual surplus of coin over and above the shipment was $6,788,217 in 1867, and $6,356,717 in 1868. It is found that the movement of coin from the coast to the interior and the reverse has greatly increased during the past year. The shipments to the interior were $15,223,807 in 1868, against $10,326,639 in 1867, and the receipts were $7,900,798, against $5,340,184 in corresponding years, thus showing an active movement of over $7,500,000 in excess of 1867. The rapid development of the agricultural and other industries of California will lead to a constant and increasing accumulation of coin in the Pacific States, and this, together with the disturbance of the export current when the Pacific railroad is completed, will render it in the future much more difficult to obtain statistics of the actual production of gold and silver. The yield ot the quartz gold mines of California throughout the year 1868 lias been satisfactory, and several-of the principal companies have PREFACE TO THK AFTHOR’s EDITION. G paid large dividends. The Amador, (Hayward’s vein,) which produced •"jO |s,7> disbursed $296,000 in dividends. The Eureka of(Irass valley paid $ 1 .”>9,000 ; the North Star •$ 15,000. The silver product of Nevada has greatly diminished, owing to the decrease in the yield of the Comstock, which, for ISOS, probably did not exceed $s.:»oo.ooo, and there is little reason to expect a favorable change during the current year, ruder these circumstances the discovery of new deposits of rich silver ore at White Pine, with their wonderful masses of chloride of silver near to the surface, is most opportune. There is good reason to believe that this new source of silver will not only compensate the loss of yield in the Comstock lode, lmt will swell the annual production of silver in the United States far beyond what it has hitherto been, and will form another brilliant example in the history of mining, ranking with Potosi, Chanarcillo, Veta Madre, and the Corn- stock. < h er $“>00,000 had been received in San Francisco, at the end of the season, from one claim—the Eberhardt—and the value of the ore on the surface at that time was not less than $1,000,000, and it could safely be stated that the rich ore in sight in the one chamber opened was worth several millions of dollars. It is said also that the total value of the bullion product sent from the district up to the 1st of January was $953,563. It is some three years since silver ore has been known to exist in the W bite Pine mountains, and the erection of a mill was then commenced there. In dune, 1S67, an Indian came into the camp and showed apiece of rich ore from the other side of the mountain, which, in November of that year, led to the discovery and location of the rich deposits. The White Pine mountain range is elevated, and extends nearly north and south. The new mines are upon its western slope at an elevation of over S.O0O feet above the sea level. The rocks are stratified dolomitic limestones and beds of quartzite, all dipping* from 15° to 25° westerly, ami thus forming gradual slopes in that direction, while the eastern face of the mountains is abrupt and rugged. Some of the limestone beds arc highly charged with fossils, from which the geological age and rela¬ tions of the formation can doubtless be determined. dim principal locality yet discovered is at a place called Treasure Hill, which slopes gently to the westward. Some ten or more distinct bodies of ore arc reported to have been opened there, and several, such as the Eberhardt, Keystone, and Hidden Treasure, are of great extent. In a shallow ravine at the base of the hill is “Chloride Flat,” where a great number of pits have beeu dug to a depth of from 10 to 30 feet, and have PREFACE TO THE AUTHOR^ EDITION. 7 reached irregular deposits of rich silver ore of a dark color, in which chloride of silver is often the principal ingredient, and may be cut out in large masses with a knife or axe. Those who have visited the new district describe the deposits as of two kinds—the vertical and the horizontal. The Eberhardt and the Keystone are considered to be vertical veins. The walls of the Eber¬ hardt are said to extend east and west, and those of the Hidden Treasure north and south. The deposits occur so irregularly and present so many peculiarities differing from ordinary veins that their true nature and relations have not yet been satisfactorily ascertained by the miners and locators, and considerable confusion and difficulty in regard to claims may be expected to result. It is probable from the general tenor of the descriptions that the deposits belong to the class known as contact deposits, and that they follow the stratification, with here and there irregular branches and pockets, and perhaps disconnected pipe-veins and gash-veins above and below. The gentle slope or dip of the strata explains the occurrence of the ore at so many places and so near to the surface over a wide area. Deposits somewhat similar to these are found at Silver Peak, south of Austin, as, for example, at the Vanderbilt and at the Pocotillo series, and beyond towards the Sisson series of gold veins, in nearly flat deposits, reached by pits sunk through a capping of limestone. February, 1869. REPORT ON THE PRECIOUS METALS. INTRODUCTION. This report was prepared at the request of Committee Ko. 0 of the United States Commission, and was submitted in December, 1867. The short time allowed for the work (from September to December) did not permit of an attempt to describe and discuss the various methods of extracting these metals from their ores, and as most of the principal gold and silver producing regions of the globe were represented at the Exposition by specimens, maps, and statistics, with the object of present¬ ing a view of the nature and the extent of the resources of each country in the precious metals, it appeared proper that the report should com¬ pass, as far as possible, the object of the various exhibits. Accord¬ ingly, brief descriptive and statistical notices of most of the known gold and silver producing regions of the world have been given, with the addition, in some cases, of notices of regions not represented at the Expo¬ sition, in order to make the report more complete, and to give as nearly as possible the statistics of the annual production of gold and silver. Statistics of the production in Europe and other countries were obtained as far as possible up to the year 1867j but the delay in printing the report of the United States commissioners has enabled the author to present some later returns, especially from the United States, and to make some additions to the report, including a chapter upon international coinage. If this delay, in the publication of the report had been foreseen, the plan of the work would have been somewhat different, and arrange¬ ments would have been made to obtain publications and statistics, espe¬ cially from South America, Eussia, and Europe, so as to state the amount of production down to the year 1868, or later. The returns so far received from the Pacific coast indicate that there has been a very considerable falling off in the production for the year 1868, not only in gold but in the silver of Nevada. It also appears probable that the statement of the total gold and silver production of the country for 1867, given on page 212, although considerably less than other pub¬ lished estimates, is yet too high by from $2,000,000 to $2,600,000, or about the amount which is credited, by estimate, to Utah and unenu¬ merated sources. The total value of the yield for 1867 was probably from $69,000,000 to $70,000,000, and for 1868 from $65,000,000 to $66,000,000. It is impossible, in a work of this kind—the greater part of which was piinted in 1868 to present statistics as late and fresh as those given from time to time by the enterprising journalists of California, who make IV INTRODUCTION. tlu* collection of accurate statistics ami late information from the mining districts a specialty. The progress of discovery in our unexplored mineral regions is so rapid that new and important information is almost daily received. Tin* author is specially indebted to “ Carmany’s Commercial Herald and Market Review,” and to the quarterly reports in the u Alta Califor¬ nia,” for statistics of the production in the Pacific States and Territo¬ ries, and he also acknowledges his obligations to several of the foreign commissioners and others at the Exposition for valuable statistical information. Respectfully submitted: WILLIAM P. BLAKE. January, 18G9. CONTENTS. GOLD. CHAPTER I. THE GOLD REGIONS OF NORTH AMERICA, WITH STATISTICS OF THE PRODUCTION OF GOLD. Collections of gold specimens from California at the Paris Exhibition—Extent of the Cali¬ fornia gold field—The gold-bearing veins—Contrast of California specimens with those of Colorado—Average fineness of California gold—Principal mines and districts represented by specimens—Soft ochrey slates containing gold—Placers—Cement deposits—Blue lead and its estimated yield—Statistics of the production and movement of gold produced in California and other Pacific States and Territories—Quartz mills in California—Gold region of Oregon—Idaho and Washington Territories—Montana—British Columbia— Nevada—Arizona—Vulture Mine—New Mexico—Colorado—Ores at the Exhibition— Methods of reduction—Value in copper and gold—Appalachian gold region—Canada— Nova Scotia—Mexico—Resum6 of the gold and silver production of the United States.— pp, 1-62. CHAPTER H. THE GOLD REGIONS OF SOUTH AMERICA, CENTRAL AMERICA, AUSTRALIA, AND NEW ZEALAND. Brazil—Morro Velho and other mines—Chili—Argentine Republic—Bolivia—Peru—Vene¬ zuela—New Granada—Central America—Australia—Gold veins of Victoria—Australian placers—Age of the deposits—Production of gold in Victoria—Quartz mills and machi¬ nery—Clunes and other mines—Port Philip and Colonial Company—New South Wales— Exports of gold—South Australia and Tasmania—Queensland—New Zealand—Statistics of production.—pp. 63-90. CHAPTER HI. THE GOLD PRODUCTION OF EUROPE, ASIA, AND AFRICA. Russian gold field—Production of different districts—Total production—Mines represented at the Paris Exhibition—Austrian gold production—Spain—Italy—France—United King¬ dom—Gold localities in China—Japanese gold mines and exports—Method of washing— Production of gold in Africa—R6sum6 of the total production of gold in the year 1867.— pp. 90-108. SILVER. CHAPTER IV. SILYEK REGION'S OP THE UNITED STATES. State of Nevada—Extent of the silver region and total bullion product—Principal districts— Comstock lode—List of claims—Machinery—Cost of materials—Expenses and products of the Gould and Curry mine—Average yield of ores—Production of bullion—Reese River VI CONTENTS. region - Production of mines— Eastern Nevada and mining districts—Cortez district Nye county—Esmeralda county—Tabular statement ot the results ot the assays ot ores scut to the Paris Exhibition—California silver districts — Idaho—Colorado Arizona and Now Mexico—Atlantic portion of the United States and Lake Superior.—pp. 109-154. CHAPTER V. THE SILVER REGIONS OF MEXICO, CENTRAL AMERICA, AND SOUTH AMERICA. Mexican silver region— Real del Monte Mining Company and general results of its mining operations—Details of silver ores reduced and ot dividends paid—Representation of silver mines of Chili at Paris—Chauarcillo mines—Ties Puntas mines — Total silver production of Chili— Production of silver in Peru and Bolivia.—pp. 155-174. CHAPTER VI. SILVER REGIONS OF EUROPE AND ASIA. Representation of the silver-lead mines of France at the Exhibition—Spain—Italy and the Sardinian mines—Austria — Saxony—Prussia—Argentiferous lead ores of the United King¬ dom—Portugal—Russia—Ores of silver and lead at the Exhibition—Kongsberg silver mines of Norway — Table of production and profits—Specimens exhibited at Paris—Swe¬ den—Turkey—Algeria — China—Japanese silver mines and exports.—pp. 175-189. PLATINUM AND OTHER METALS. CHAPTER VII. PLATINUM, PLATINUM APPARATUS, PLATIN-IRIDIUM, AND OTHER RARE METALS. Exhibition of platinum from Russia—Production of the metal—California and Oregon— Analysis of the mixed metals from Port Orford—Platinum stills and other apparatus exhi¬ bited by Johnson, Mattbey & Company—Large ingots of platinum—Platinum assay appa¬ ratus Magnesium Iridium—Osmium—Series ot metals in specimens of equal weight— Medals awarded—Quicksilver of Spain and of the Pacific coast.—pp. 190-199. PRODUCTION AND CONSUMPTION OP GOLD AND SILVER. CHAPTER VIII. AGGREGATE PRODUCTION OF THE PRECIOUS METALS. Difficulty of obtaining statistics fur early periods—Estimates by Jacob and others—Hum¬ boldt's estimates and statistics for tbe period from 1492 to 1803—Danson's statements of production in Mexico and South America—Resume of production to 1803—Period from W3 to I -48 Produce of American and of European mines—Period from 1848 to 1808— Maximum yield in J-.>3—Production at the present time ot gold and silver—Silver product increasing while gold is decreasing—Estimates by Newmarch of mean annual production_ Table of aggregate production for twenty years—Summary.—pp. 200-217. CONTENTS. VII CHAPTER IX. CONSUMPTION AND MOVEMENT OF THE PRECIOUS METALS. Estimate of the amount of gold and silver in circulation in various countries—Estimates of the amount of gold and silver in the United States at different periods—Coinage of Eng¬ land, France, and other countries—Coinage of the United States—Use in the arts, and loss by wearing—Current of the precious metals—Exportation to India—Decrease in the pro¬ duction of gold—Production of gold from placers and from veins compared—Probable rise in the value of gold—Means of promoting the production of the precious metals—Encour¬ agement of vein mining—Government protection and legislation required—Importance of a national mining college—Organization of a corps of mining engineers suggested.—pp. 218-241. CHAPTER X. UNIFICATION OF GOLD AND SILVER COINAGE. Evils of a diversity in the systems of weights, measures, and coins—Advantages of a simple universal system—Movement for monetary unity—Monetary convention—Observations of Mr. Beckwith, Mr. Ruggles, and Senator Sherman on the treaty—Propositions by Mr. Kennedy adopted by the committee—International monetary conference—Argument favor¬ ing a 25-franc coin—Professor Levi’s speech—Report of delegation from Great Britain— Report of royal commission—Views of M. Chevalier—Opinions expressed in the United States, and the proposed legislation—Conclusion.—pp. 242-307. APPENDICES. Page. A. Additional information upon the Production of the Precious Metals in several Countries . 308-329 B. Relative Values of Gold and Silver . 330-332 C. Rules for the Calculation of Alloys and Values . 333-335 D. Tables of Deposits, Coinage, Exportation, and Production of the Precious Metals . 336-358 E. Metrical, and other Weights and their Equivalents . 359-360 GOLD. CHAPTER I. THE GOLD REGIONS OF NORTH AMERICA, WITH STATISTICS OF THE PRODUCTION OF GOLD. Collections from California at the Paris Exposition—Extent of the Califor¬ nia gold field—The gold-bearing veins—The collection from California in CONTRAST WITH THE GOLD ORES OF COLORADO—PRINCIPAL MINES AND DISTRICTS REPRESENTED BY SPECIMENS AT PARIS—PLACERS—STATISTICS OF THE PRODUCTION AND MOVEMENT OF GOLD PRODUCED IN C ALIFORNIA AND OTHER PACIFIC STATES AND Territories—Quartz mills in California—Oregon—Idaho and Washington Territories—Montana—British Columbia—Nevada—Arizona—New Mexico— Colorado Ores at the Exposition—Appalachian gold region—Canada—Nova Scotia—Mexico—Resume of the total gold and silver production of the United States. CALIFORNIA. The gold of California was represented in the Exhibition by a syste¬ matic collection of the ores from the principal mines, made chiefly by the Commissioner of the State, and by a second, and, in some respects, similar collection contributed by the miners and mining companies of California to Dr. Pigne for the Imperial School of Mines of France. The number of specimens of gold and its ores in the two collections was about 500, and they included not only gold-bearing quartz but specimens of placer gravel and cement, and of the miscellaneous ores and minerals of the Pacific coast. EXTENT OF THE CAEIFORNIA GOLD FIELD. The principal gold region of California is upon the western slope of the mountain chain of the Sierra Nevada, and is nearly co-incident with it in extent. Commencing at the south in Tulare and Kern counties, nearly under the parallel of 35°, it extends northwards through the whole range of counties of the State to the Oregon line—the parallel of 42°—thus extending over seven degrees of latitude, or about 500 miles. The great bulk of the gold is, however, obtained from the central counties: Mariposa, Tuolumne, Calaveras, Amador, El Dorado, Placer Nevada, Sierra, Yuba, Butte, and Plumas, lying between the parallels of 37° and 40°. This is the region of the most extensive and productive placers. Gold is also found upon the coast in Del Norte county, and at several places in the Coast mountains southward. At San Francisquito in Santa Barbara county, south of the main gold field, placer gold was discovered as early as 1838, and gold was known <■> PARIS UNIVERSAL EXPOSITION. to exist along the Colorado river as early as 1775. Gold is not confined to the western water shed of the Sierra, for it is found at many places on the eastern side as well as near the summit. Alabama district, in the great valley of Owens lake, east of the crest of the mountains, is noted for the richness iu gold of its narrow veins. At Armagosa, in the Great Basin, gold was mined several years ago, and veins in Holcomb valley, north of San Bernardino, have been extensively prospected within the past five years. The working of deposits of placer gold further north and on the east slope of the mountains, along and near the valley of Carson river, led to the discovery of the great Comstock lode, which has given so many millions of silver to the world. # GEOLOGY AND THE GOLD-BEARING VEINS. The principal rocks of the gold belt on the west slope are clay-slates, sandstones, and conglomerates of the Secondary period uplifted at high angles and dipping east. They are generally much altered—metamor¬ phosed—and are associated with serpentine; also a metamorphic rock. Gold-bearing veins occur in or are closely associated with all of these rocks, and in hard and compact granite, in greenstone and dioritic rocks, and in dolomite and metamorphic limestones. They are found even in the partially metamorphosed stratified formations of the Cretaceous period in the Coast moimtains, and they may also be found in the Tertiary strata. It was formerly the generally accepted opinion that productive gold veins were confined chiefly to the metamorphosed older Palaeozoic forma¬ tions—the Silurian rocks. The gold-bearing rocks in the Ural mountains and in Australia have been shown to be Palaeozoic, belonging in Austra¬ lia to the lower Silurian division. The discovery of fossils of the Carboniferous period in California by Dr. Trask in 1854, the exploration of the gold region by the writer in 1853-54, and the subsequent discovery of Secondary fossils in the main belt of gold-bearing slates, together with the discoveries in Hungary in 18Gl-’(32, proving that the rocks holding the gold belong to the latest geological periods, even as late as the Tertiary, all show the fallacy of the opinion that productive gold veins are associated chiefly with the older rocks. The gold-bearing veins of California are largest and most extensive in the region of the metamorphosed Secondary rocks. They generally con¬ form to the dip and strike of the strata, and vary in width from a few inches to 20 or 30 feet. When they traverse granite or metamorphic rocks, iu which the stratification is nearly or quite obliterated, they are generally narrower and more uniform in width than when in the softer rocks or slates. The most extensive vein of the State, and perhaps in the world, is known among the miners as the “ Mother vein,” and extends, but with some considerable breaks and interruptions, from Mariposa northwestward for 80 or 100 miles, following a zone or belt of REPORT ON THE PRECIOUS METALS. 3 Jurassic slates and sandstones, and closely associated with a stratum of dolomite or magnesian rock, often a magnesite, filled with reticulations of quartz veins, and charged with pyrites. The outcrops of this rock are generally very rusty and porous in consequence of the decomposition of the pyrites, and show green films of an earthy mineral containing chromium. Nearly all of the auriferous veins of California are composed of white, or bluish-white quartz, with, in general, not over two per cent, of sul- phurets. These sulphurets are chiefly ordinary iron pyrites, with, occa¬ sionally, a little galena and blende. In some veins iron pyrites is replaced by arsenical pyrites or mispickel, as, for example, in the mines of the Clear Creek district in Tulare county. An example of a vein containing much more than the usual amount of sulphurets is found in the Soulsby, near Sonora, Tuolumne county, (specimens Nos. 110'and 111 of the California collection.) In these the sulphurets form more than half of the bulk of the ore. The collection contained not only the white and bluish-quartz speci¬ mens taken from below the water-level in the veins, and showing the bright glancing pyrites, but exhibited, also, the appearance of the ore i from the upper portion of veins above the permanent water-level, and near the outcrops, where, under the influence of air and moisture, the ore decays and becomes browned and rusted by the decomposition of the pyrites. By this natural decomposition the gold contained in the pyrites is liberated and left in a condition to be readily separated from the ore by mechanical means. Such ores are, of course, more readily and cheaply worked than those in which the sulphurets are not decom¬ posed, and they give a better yield in ordinary working. The collection contained, also, a series of the concentrated sulphurets as obtained by washing from various mines, some of which were very rich in gold, and are worked at the localities by the chlorination process of Professor Plattner. Most of the specimens exhibited were hard and flinty, and the veins from which they were taken are in hard rocks, requiring the use of powder for extracting or mining the ore, and powerful machines to break it up to a size suitable to be placed under stamps. Some of the ores, however, are remarkable for their softness and friability, being soft enough to be crushed in the hands, and to be excavated from the veins by a pick alone. Several specimens from the Sierra Buttes mine, and others from the Jefferson, at Brown’s valley, were merely granular powders, looking like powdered salt or sugar. The whole collection from California contrasted very strongly in appearance with the collection from Colorado Territory, arranged oppo¬ site it, which was characterized by the abundance of massive sulphurets of iron and copper, to the almost entire exclusion of quartz. The white flinty quartz of California, with its hidden particles of free gold, could not be said to have a metallic appearance 5 while the ores from Colorado 4 PARIS UNIVERSAL EXPOSITION. had the semblance of extreme metallic richness, and many no doubt mis¬ took the glittering pyrites for the noble metal. The average lineness of California gold was formerly about .885. For a few years past it has not averaged so high, ranging from .805 to .870, and containing about one per cent, of the base metals j its composition being, nearly, .87 gold, .12 silver, and .01 base metals. This decrease of fineness is due, undoubtedly, to the increased quantity of gold from veins, and, perhaps, to the mingling of gold from Idaho, which contains a large amount of silver. Following are brief notices of some of the principal mines of Califor¬ nia represented by specimens in the Exposition. The notices follow in the order of succession of the mines from the southern end of the gold region northward. TULARE COUNTY. Lone/ Tom mine .—This claim, situated on Posa Flat, about 25 miles west of Havilah, is one of the most prominent and successful mines in the southern part of the gold region. The vein is nearly vertical, from three to eight feet wide, and cuts through granite. The quartz is impregnated with arsenical pyrites, (mispickel,) and it has been rich in gold from the surface to a depth of 200 feet, or as far as the shaft lias been sunk. The general characters of the ore, and of the sulphurets, are well shown by the suite of specimens in the collection, Nos. 87 to 90, some of which are from below water-level, and others from above. A mill of ten stamps was erected a short distance below this mine, and it has been in constant and successful operation. The receipts of bullion in the month of October, 18GG, were $1G,500; in November, $17,500, and and in December about $20,000. The entire expenses of the mine and mill were said to be less than $3,000 a month. Joe Walker mine —Walker’s Basin, southeast of Havilah. This vein was accidentally discovered by a farmer when out looking for stock. It was sold in June, 18GG, for $2,000, and by December was opened by a shaft to a depth of 200 feet. A 20-stamp mill was completed in October, and gave an average daily yield of about $1,290 from about 30 tons of ore. The vein is from three to eight feet in width, and the quartz is quite friable and easily crushed. Mammoth lode —On Kern river, a few miles northwest of Havilah. This is a very large and well-defined vein, extending for a great distance over a high ridge, in a position which permits it to be worked by tunnels. A new mill was erected upon the river last year, and preparations were making to work the vein upon a large scale. This vein is reputed to have yielded about $1,000,000 in all, prior to the great floods of 18G1-’G2, which swept away the mills, and put an end to the mining operations. Clear Creek minea .—There are several interesting and important mines in the immediate vicinity of Havilah, some of which—the Rochefort and the French Friend —were represented in the collection. The ores of the REPORT ON THE PRECIOUS METALS. 5 district are all characterized by a great abundance of arsenical pyrites, and are generally quite rich. MARIPOSA COUNTY. There are not many important mines yet known northward from the Clear creek and Kern river region until Mariposa county is reached, and none are represented in the collection. Mariposa vein .—This is one of the principal veins on the Mariposa estate, and is noted for the rich bunches or pockets of gold which have been found in it from time to time, some of which have yielded from $30,000 to $75,000; but mining this vein, on the whole, has not been successful. Princeton vein .—This is also on the Mariposa grant, and is one of the most celebrated in California. It traverses clay-slates nearly parallel with the bedding, but gives evidences of having been formed in a fissure or plane of dislocation of the strata. It is from two to seven feet wide where worked, but the average is not over three feet. There are five or six shafts, the deepest of which is between 600 and 700 feet, and the prin¬ cipal level is over 1,200 feet long. This vein has yielded an aggregate of about $3,000,000, but it is not now worked. The ore has averaged about $16 per ton, and has given large profits. The vein is composed of hard white quartz, and is divided into parallel layers or plates by thin slaty films, which are generally charged with fine¬ grained pyrites and free gold, forming what is known among the miners of California as “ ribbon-quartz.” The more solid and compact masses of quartz often contain iron pyrites in brilliant crystals. Galena occurs also, but not in large quantities. Gold in irregular, ragged masses, and sometimes in crystals, occurs with these minerals. It appears to be most abundant in contact with the galena, and when much galena is seen in the quartz a large yield is expected. Gold is frequently found spreading in films over the surface of crystals of iron pyrites, or extending through the crystals in thin sheets. It occurs also entirely isolated from either the pyrites or galena, and in the midst of solid white quartz. The speci¬ mens of crystallized gold broken out of this vein were bunches of octahe¬ drons, with perfectly flat and highly polished faces from one-eighth to three-sixteenths of an inch across, and were attached to masses of white quartz. Pine Tree and Josephine .—These veins, also on the Mariposa estate, are on the south bank of the Merced river, and intersect so as to form in reality one large vein, which is a portion of the great Mother lode. This lode extends northwestward from this point for 70 or 80 miles, broken, how¬ ever, and disappearing at intervals, yet always presenting the same general characteristics, and affording similar ores. The position of the Pine Tree and Josephine veins is such, on the high bank of the river, that they are worked and drained through tunnels, and the quartz is taken by a tramway to the bank of the river to be crushed in mills driven by G PARIS UNIVERSAL EXPOSITION. water-power. The mine is extensive, and very large quantities of quartz have been extracted and worked, but there are no complete and reliable statistics of the yield. The quartz has averaged from $8 to $0 per ton as worked, but it is possible to select the ore so that the yield would be much higher. It is reported that the yield of this ore has been much increased dining the past year by an improved system of working. The ore is tirst dry-crushed, and then triturated to a line powder in what is known as a Lumsden’s crusher. This consists of a revolving iron cylinder, in which the dry powder is placed, together with a great number of hard cast-iron bullets. After revolving long enough to secure the desired fine¬ ness of the powder, the amalgamation is effected by Ryerson’s process. This consists in exposing the powder to the hot vapor of quicksilver in a closed vessel. This vapor is subsequently condensed by a jet of cold water, and the amalgamated gold is separated from the pulp by washing in the usual manner. It is claimed that, by this process of working, the yield is nearly double wliat can be obtained by the ordinary method of wet-crushing and battery amalgamation. Co alter ville and Hites'a Cove .—Between the Pine Tree mine and the town of Coulterville there are several other mines and outcrops of importance along the course of the Mother lode. Among these the Emily, the Adelaide, and the Crown lodes may be mentioned. There are also important mines at IIites ? s Cove, further up the river, but these were not represented by specimens at the Exhibition. Pc non Blanco .—At Coulterville, and in its vicinity, the Mother lode is well defined and there are many promising claims. One of the most interesting locations is tlip Peuon Blanco, three miles northeast of the town, and on the divide, between Tuolumne and Merced rivers. This Peuon Blanco is a high hill, which is cut directly through by the vein; and the masses of white quartz standing out over the summit make it a prominent landmark for miles along the course of the great vein. This claim is 5,830 feet long; course of the vein, north 36° west; dip easterly, 47°; average thickness of vein, 20 feet. The croppings rise from 5 to 30 feet above the surface. In some parts of the vein it is divided up by masses of slate. There are two principal ore-shoots, plunging southward. Very little work has yet been done upon the claim. TUOLUMNE COUNTY. App's m ine .—This is upon the great vein near Jamestown. (Specimens Nos. 102 and 103.) It was worked irregularly between the years 1856 and 1850, but has since been regularly worked, with a very uniform yield of the quartz. From May 1, 1859, to September 1,1866,8,027 tons of ore were crushed, and yielded an aggregate of $124,575, averaging $15 52 per ton. The expenses of mining and milling are said to have averaged $7 47 per ton. Raichide Ranch mine .—(Specimen No. 106.) This mine is also upon REPORT ON THE PRECIOUS METALS. 7 the great vein, and was purchased in 1866 by parties in New York. The vein in the deepest shaft (200 feet) is said to be 10 feet wide. About 1,500 tons of ore were extracted in 1866. Some portions of the vein are very highly charged with gold, in an extremely divided state. The quartz has a greenish blue tinge, and is very hard. Large quantities of rich tellurium ore, rich in gold, have been discovered in it. Golden Buie mine. —In 1866, 3,000 tons of ore were extracted from this mine, and yielded $32,554; an average of $10 75 per ton. Chaparral Hill and other mines .—The collection contained specimens of the ores of the Chaparral Hill, the Bacon, Monte Christo, Buchanan, Consuelo, and other mines; but no statistics of their production or yield are accessible in season for this report. Soulsby mins. —This mine is opened upon a narrow but very well-defined vertical vein, cutting granitic rocks, and highly charged with sulphurets of iron and lead, and rich in free gold. It has been successfully worked for a long time, and has yielded more than $1,200,000 in bullion. The pay ore has been traced for 1,700 feet in length. It has yielded about $400,000 during the past three years. The specimens (Nos. 110 and 111) contain galena and iron pyrites, with free gold, and more nearly resem¬ ble the gold ores of Colorado than any other specimens from California. CALAVERAS COUNTY. Carson Hill mine. —This claim was represented by some rich specimens, contributed by R. H. Sint on, esq. The quartz is hard and resinous in lustre, and the gold is extremely coarse and heavy. The vein is noted for its great size and for the large masses of gold which have been broken from it. It is upon the line of the great vein, and forms the con¬ necting link between the mines of Tuolumne county and those of Angel’s camp. The outcrops of quartz are very heavy, and stand boldly out upon the top of a high hill. In the early days of mining the slopes of this hill were crowded with miners, working over the surface soil for the large masses of ragged vein gold found in it, and which doubtless came from the breaking down of the vein. The pits along the outcrop of the vein had not been sunk over 130 feet in depth before the property became involved in litigation upon conflicting claims, and has so remained until the last year, when prepa¬ rations were made for commencing a methodical and thorough develop¬ ment of the ground. Some of the largest masses of native gold ever seen were taken out of the quartz of this vein. The gold is associated with tetrahedrite, highly argentiferous, giving crusts of chloride of silver by its decomposition, and staining the quartz blue by the formation of blue carbonate of copper. This blue color in the vein is regarded as an unfailing indication of the presence of gold. It is found at several other points upon the great Mother vein, as, for example, at the Emily and the Pine Tree. At the Melones and Stanis¬ laus mine; near this claim, there are some interesting ores, containing tellurium combined with silver and gold. 8 PARIS UNIVERSAL EXPOSITION. South Carolina claim. —This is in the immediate vicinity of the Carson Ilill claim, and has yielded a large amount of gold, which appears to be found in a soft greenish or talcose slate, alongside of the great outcrop of quartz which traverses the claim. AngeVs Camp mine*. — Several adjoining claims from this region were represented by specimens, all having a general similarity. These claims are known as Hill’s, Slocum and Bell’s, Cameron’s, and Winter’s, (now Bovee’s.) The ore is peculiar, being generally a mixture ot quartz and magnesite or dolomite, highly charged with bright glancing crystals of iron pyrites, often extremely rich in gold. Gold is also found free in the magnesite, and is very pure. No reliable statistics of the total production of these claims are obtainable. Much difficulty has been experienced in working the ore, owing to the refractory character of the sulpliurets, which require to be decomposed before the gold can be obtained. AMADOR COUNTY. Coney m ine .—This mine is remarkable for the quantity and richness of the sulpliurets in the quartz. Until recently these sulpliurets have been shipped to Europe and sold, but they are now worked upon the spot by the chlorination process of Professor Plattner. Keystone mine .—(Specimen No. 114.) The quartz from this mine much resembles that from the Princeton vein. This mine was vigorously worked in 1SGG, and some 9,000 tons of ore were raised and milled, yielding $175,000. The yield of the mine since 1851 has been about $1,100,000 A new 20-stamp mill was erected in 18GG, and other im¬ provements made, at a cost of $75,000, besides which $50,000 were divided among the owners. Kay ward's mine , Sutter creek .—This mine, known also as the Eureka, was opened in 1853, and the main shaft had reached a depth of 1,230 feet at the end of 18G6. The vein traverses metamorphic rocks, conformably to the bedding. The hanging wall is a hard rock, resembling greenstone in color and texture, but probably metamorphic, and the foot wall is a soft black slate. This is one of the thickest veins in California, requiring timbers from IS to 20 feet in length to reach from wall to wall after the extrac¬ tion of the quartz. The average thickness of vein may be considered as about 1G feet, and the length, horizontally, of the pay shoot is not over 450 or 500 feet. The mine at this great depth is remarkably free from water, the lowest levels being dryer than the upper. This, together with the great size of the vein, permits the quartz to be mined very cheaply. Levels are run, one below another, at intervals of 100 feet, and the quartz is found to increase rather than to diminish in value in descending. The yield of the mine in 18GG was about $450,000, and the gross pro¬ duet, since its opening, is believed to be not less than $3,000,000. The ore of the lower portions probably averages $15 to $17 per ton. The per- REPORT ON THE PRECIOUS METALS 9 centage of sulphurets in the quartz is small, and free gold,, in grains large enough to he distinctly seen, is not common. This mine has recently become the property of a joint stock company—the Amador Mining Company—and is represented by 3,700 shares, at a par value of $400. The bullion returns during two weeks in October, 1867, amounted to $16,580. It was incorporated October 1, 1867, and since that time, to the end of the year, produced $111,826 63 in bullion; the divi¬ dends disbursed during the same period amounted to $66,600. The receipts in December were $35,121 33. The quantity of ore reduced during the last three months of the year was 5,018 tons. The average value of the ore for 13 months was $22 06 per ton. The cost of min¬ ing and milling was $6 06; leaving a profit of $16 per ton. This stock has never been assessed. It has been sold as low as $200 per share. NEVADA COUNTY, GRASS VALLEY DISTRICT. The Grass Valley district is one of the oldest and most important quartz mining sections of California, and has produced about $25,000,000 of gold during the last fourteen years. The veins are generally narrow, but rich, and carry coarse, free gold, associated with sulphurets of iron and lead. They traverse hard dioritic and granitic rocks, which are probably metamorphic. Eurelca mine .—This is one of the most remarkable and profitable mines in California. It was first opened in 1854, and was worked at intervals for several years with little or no profit, but was reopened a few years since, and then sold to parties who sunk a shaft to the depth of 300 feet, and found the vein to constantly increase in richness. The gross yield of bullion for 1866 amounted to $596,053; of this $360,000, or an aver¬ age of $30,000 a month, were divided among the shareholders, besides considerable expenditures in permanent improvements. This amount was extracted from 12,200 tons of ore, giving an average yield of $48 per ton. The total production of the mine from October 25, 1865, to April 17, 1867, was $825,926. North Star mine .—This mine is worked to a depth of 750 feet, (upon the vein,) and 600 to 800 feet longitudinally. Over $500,000 has been realized in profits during the past five years. The gross product of a new 16-stamp mill in 1866 for five months was over $100,000, and the profits divided ranged from $12,000 to $14,000 per month. Ophir mine .—This mine is said to have yielded about $1,000,000 from 1852 to 1864. In 1866 some 3,750 tons of ore were reduced, producing about $175,000, or an average of $47 per ton. Gold Hill .—This is one of the oldest quartz mining localities in Cali¬ fornia, and is popularly believed to have yielded some $4,000,000 dur¬ ing the fourteen years ending in 1864. The vein is considered to be the continuation of the famous Watt vein upon Massachusetts Hill, some 500 feet south of it, which yielded a net profit of $960,000 in three years. 10 PARIS UNIVERSAL EXPOSITION. Otlur wines .—Many of the important mines of the Grass Valley dis¬ trict, and of the county, were not represented in the collection at Paris. There were a few specimens from the Norambagua, the Lone Jack, the Providence, and the Lone Star. Tin* report of the county assessor for the year 1SG5 states the number of mines in the county as 117. Many of these were merely prospective. There were 71 mills—51 for crushing and working quartz, and 20 for crushing cement gravel. The yield of 10 mines, fully reported, was $2,227,000. Twenty-three of the mills had crushed an aggregate amount of 70,700 tons. YUBA COUNTY. Jefferson mine .—Specimens 157 to 164. The quartz from this vein is white and friable, some of the best ore being in a powdered state when extracted. The vein is about six feet vide, and is enclosed in metamorphic rocks, dipping to the east at an angle of about 45°. Course, nearly north and south. It is worked to a depth of 450 feet, (I860,) and has eight levels, the lowest 100 feet apart. There are two or more chimneys of superior ore, and they plunge northwards. About 1,000 tons of ore are worked monthly, and the average yield per ton for the year was $18. The whole cost of raising and working is estimated to be $4 50 per ton, thus leaving a profit of $13 50, or about $13,500 a month. Pennsylvania .—This mine joins the preceding, and has similar ore. It was represented by specimens 164 to 167. The claim is 1,300 feet in length, and the shaft had been sunk to a depth of 410 feet at the end of 1866. The vein at the bottom of the shaft is nine feet thick, and the best ore is said to average -$20 per ton. It is worked by a mill of eight stamps, located at the mouth of the mine. SIERRA COUNTY. Sierra Buttes mine .—This justly celebrated mine is located on the south fork of the Yuba river, about 12 miles from Downieville, and was repre¬ sented by suites of specimens, selected by the writer, from the different parts of the mine, (Nos. 167 to 187.) The claim is 3,000 feet in length, and it is estimated to be at an elevation of 6,000 feet above tide. The vein traverses hard metamorphic slates, and is divided into three branches, each of which is worked. The thickness of these veins, where united, varies from 16 to 30 feet, but the usual thickness of the branches is from 6 to 8 and 12 feet. It is so situated upon the steep slope of the mountain that it can be worked by tunnels, one below another, to a very great depth. There are now four principal tunnels upon the course of the veins, the lowest being at a depth of about 750 feet from the top of the outcrop where it passes the crest of the hill. The vein is cut also by a fifth tunnel, about 400 feet lower, thus showing the permanence of the vein at a depth of about 1,100 feet. The gross yield of the mine from 1861 to 1866, inclusive, was $1,345,000, REPORT ON THE PRECIOUS METALS. 11 the expenses were $460,000, and the profits divided among the owners, from 1856 to 1867, were $884,400, as follows: Yield of the Sierra Buttes mine. Year. Gross. Expenses. Profits. 1857, (6 months)......... $51, 000 88, 000 55, 000 $14,600 20, 000 15, 000 37, 000 44, 000 $36,400 68, 000 40,000 83, 000 1859. I860 .. 120, 000 198, 000 164, 000 154, 000 1862. . . 52, 000 58, 000 75, 000 66, 000 79, 000 112, 000 100, 000 15, 000 132, 000 1863. . 158, 000 90, 000 1864. ... 1865. 198 000 1865. . 223, 000 144, 000 Totals. $1, 345, 000 $460, 000 $384, 400 The low yield and small profits of 1864 are explained by the drought of that year, which necessitated the construction oi a long flume, at a cost of $40,000, to bring water for the mills. The uartz, as worked, has averaged from $16 to $18 per ton, but large quantities of lower grade ore are left standing in the mine. Independence mine. —This mine is upon the prolongation of the Sierra Buttes vein, and was represented by specimens 187 to 189. It is a very large vein, averaging about 20 feet in thickness for about 300 feet. The paying portion is about 400 feet long, and it has been stoped out down to the lowest tunnel. The quartz is hard, and yields an average of $8 per ton. The estimated cost of working and raising is $5, thus leaving a profit of $3 per ton. Thirty tons are worked a day in a 24-stamp mill* Keystone mine. —This mine is reported to have given a monthly yield of $8,000 to $10,000 during 1866, about half of which was profit. The ore is reported to average $15 per ton. Barnliardt and other mines. —The Earnhardt claim, the Primrose, Bel- zona, Four Hills, Fac Simile, Mexican, and other mines of the region were represented by specimens contributed by Messrs. Crossman & Coch¬ rane, of Downieville. PLUMAS COUNTY. The mines of this county were not represented by specimens as fully as they should have been. The Crescent mine of Indian valley has a good reputation, and is reported to have yielded over $100,000 in 1865. King’s mine was represented by a specimen of semi-opal containing free gold; interesting as an evidence of the aqueous origin of gold in veins. 12 PARIS UNIVERSAL EXPOSITION. SOFT OCHERY SLATES CONTAINING GOLD. Attention has recently been directed to a class of gold deposits hith¬ erto unknown or neglected in California, they having been supposed to be the outcrops or indications of deposits of copper ore merely, and were explored as such. They appear upon the surface as extensive outcrops of soft ferruginous slate of a dark red or brown color. Some of these deposits on being prospected and worked have been found to contain gold in sufficient quantities to encourage working. These deposits occur in the foot-hills of the Sierra Nevada, a little west of the main gold belt, and in the zone known as the 11 copper belt,” along which many large deposits of copper have been found under sim¬ ilar outcrops. These outcrops are usually not accompanied by any well-defined lode of quartz, but the rocks are “mineralized” in a high degree, and are so much softened and decayed in places that they can be readily excavated with a shovel. The external surface is more highly rusted than the interior, which displays a variety of colors, from pure white to bright red and brown. The suite of specimens Nos. 204 to 211 represented these extraordinary ores. Harpending claim , near Lincoln, in Placer county .—The outcrop forms an isolated hill, rising from SO to 100 feet above the plain, and about 200 feet wide and 500 long. It is excavated in open cutting or quarried out, the softness of the material permitting it to be worked with ease and at a very small cost. It is milled upon the spot, very coarse grates being used, and the pulp is ground after passing the battery. A 40- stamp mill has been erected at the locality during the past year. Other and similar deposits are being explored in Calaveras county, the most prominent being at Quail Hill, near Telegraph City, where the soft slates give encouraging returns in gold and silver by working tests. Ten samples of about five pounds each gave an average result of: gold, $17 OS; silver, $5 S2; total, $22 90. The average yield of a sample from the inclined shaft was $35 87. A 20-stamp mill has been erected upon the property, but in working on a large scale the returns have not been equal to the expectations of the proprietors. These deposits are in many respects similar to the famous “ Pigeon Roost streak” of Lumpkin county, Georgia, where a zone of rotten slates, but containing quartz, has furnished gold, by sluicing, for many years past. PLACERS—CEMENT DEPOSITS. The great bulk of California gold has been, and still is, obtained from placers—the natural deposits of the debris of pre-existing quartz veins which have been cut and washed away by the action of running water. When we contemplate the enormous amount of surface erosion through¬ out California, and see valleys excavated by rivers to a depth of 2,500 REPORT ON THE PRECIOUS METALS. 13 or 3,000 feet below the general surface of the country, it is not so diffi¬ cult to admit that all placer gold has been broken from veins. The great placer region of California is found in the central counties, from Mariposa to Butte county, inclusive. The deposits are not confined to the beds of streams alone, but are followed upon the tops of the hills, and give indisputable evidence of being the remains of ancient water¬ courses or river channels, formed when the direction of the drainage of the country was very different from the present. Some of these ancient deposits are buried under enormous accumulations of sand, clay, gravel, and sometimes of tufa and lava j and the rounded, river-worn boulders and stones are thoroughly cemented together, so as to form a solid con¬ glomerate—a pudding-stone, the u cement” of the miners. This agglom¬ eration or cementing appears to have been effected chiefly by the perco¬ lation or presence of either silicious, calcareous, or ferruginous waters. The first two, acting at considerable depths beyond the access of air, give bluish-green cements, the iron being in the state of protoxyd; but the ferruginous waters with access of air produce rusty or reddish-brown cements. The former are known by the miners as the blue leads and the latter as the red leads. Cements of a gray color are also found. Speci¬ mens of each were in the Exhibition, and some of them were rich in gold, the grains being as firmly imbedded or cemented in the mass as the peb¬ bles. The collection contained characteristic specimens of each of these varieties of cement. It is the popular belief that there is one great Blue lead extending across several counties of the State, nearly at right angles with the present rivers. It is probable, however, that there are many independent channels having the same general appearance. Efforts are making to trace out the courses of these ancient deposits, and a map of Sierra county, showing the probable position of the old rivers rela¬ tively to those now existing, was prepared and published in May last, and sent to the Exposition by J. H. Crossman, Esq., of Downieville. Blue, gray, and red deposits are found in that county, and they are regarded as the deposits of as many different streams or ancient rivers. The Blue lead is formed of a deposit of gravel and boulders, vary¬ ing in size from a grain of wheat to masses of many tons weight. This fills the entire channel, from 700 to 1,000 feet in width. The gold is usually coarse and abundant, and has a high degree of fineness. The richest portion of the deposit is commonly not over three feet in thick¬ ness, and rests upon the bed or foundation rock. The miner upon the Blue lead always cuts away a portion of the bed rock together with the gravel, as the rock is very rich and quite soft. The whole is trammed to the dump at the mouth of the tunnel, to be washed in sluices. Mr. Crossman regards the red lead as probably the high bars or banks of the ancient rivers, for the deposits cover a considerable area, and are generally parallel with the main channel. The boulders are not so large and the gravel not so rich as in the deep or blue channel. It has been observed, also, that the gold is not as fine. 14 PARIS UNIVERSAL EXPOSITION. Mr. Grossman furnishes the following estimate of the yield of one mile in length of the Blue lead, from Forest City southward. The work was commenced in 1854, and the claims were exhausted in 18(H), except a few, which are still very remunerative. These claims were worked by tunnels, and in a hurried manner, so that perhaps one-third of the gold was left behind. It is probable that the ground will eventually be re-worked by the hydraulic method. The expense attending the extrac¬ tion in the properties enumerated is said not to have exceeded one-third of the gross proceeds, two-thirds being divided among the shareholders. Estimated yield of one mile of the Blue lead. Name of claim. | Yield. Live Yankee _ Buckeye . Empire Company Dutch Company. $300, 000 200, 000 240, 000 40, 000 Seven small claims 25, 000 Little Rock. Can't Get Away_ Do Say. Washington. Monte Christo. Gordon Gates. Monumental. Knickerbocker. Uncle Sam. American Company Manhattan. None-such. Masonic. Highland . Ohio. 100, 000 50, 000 200, 000 200, 000 150, COO 50, 000 100, 000 ICO, 000 150, 000 50, 000 50, 000 50, 0C0 150, 000 100, 000 50, 000 Name of claim. Yield. Red Stay. Packard. Jenny Lind. Hook & Ball. Blue Tunnel. Keystone.. Alleghany. Pacific. Bay State. New York Branch New York. N. Weston. Cumberland. Unica. Excelsior.. Eureka. Tremont. $150, 000 150, 000 60, 000 150, 000 70, 000 50, 000 200, 000 400, 0C0 100, 000 50, 000 250, 000 75, 000 50, 000 200, 000 225, 000 200, 000 400, 000 Total $5, 095, 000 One of the best examples of placer mining, on a large scale, is found at the claim of the Blue Gravel Mining Company at Smartsville, in Yuba county. This claim covers an area of 100 acres, with an average depth of deposit of 100 feet. The channel of the ancient stream is from 100 to 400 feet wide. A tunnel to reach the channel was commenced in 1855, and completed, after much difficulty and great expense, in 1804. The company has four miles of sluices, three feet wide and three feet deej>, with an inclination of six and one-half inches in 12 feet. The bed of the sluice on which the gold is caught is made of alternate sections of wooden blocks, 17 inches long, and of rock 24 inches long, (measured along the sluice.) Three tons of quicksilver are used in the flume. Five hundred inches of water are used, at a cost of $75 per day. The sluice is cleaned up once in eight or ten weeks, and the results of the several runs, from the opening of the tunnel till the end of 1800, were as follows: REPORT ON THE PRECIOUS METALS. Results of sluicing—Blue Gravel Mining Company. 15 March, 1864... May. bune. July. August. September ... October. December January, 1865 February _ March. May. June. Month. Amount. $9,381 24,275 70,000 22,350 3,487 49, 440 24, 669 45, 003 2,723 August. September.... October. December. February, 1866 April. June. August. October. Month. Amount. $24, 679 46, 500 26, 660 37,000 23, 746 43, 428 23,880 42,494 18,000 24, 051 44, 981 24, 000 50,118 December. Total 25,000 $642, 860 In order to extract the gold from the very hard cements which will not disintegrate by exposure to the sun and air during the dry season, recourse is had to stamp-mills, known as cement-mills. These are like ordinary quartz-mills, except that the grates are made very coarse and heavy, and a much greater flow of water is used. The number of such mills is now very great, and is increasing. STATISTICS OF THE PRODUCTION AND MOVEMENT OF GOLD PRODUCED IN CALIFORNIA AND OTHER PACIFIC STATES AND TERRITORIES. The receipts of uncoined bullion at San Francisco, from the interior of California, include also the bullion from the State of Nevada, We may therefore ascertain approximately the value of the gold production of California by subtracting from the total receipts the value of the Nevada bullion. There is a small production of silver bullion within the limits of the State; but as this is inconsiderable compared with the gold pro¬ duct, and as there are no reliable figures or estimate of the amount of this silver bullion, no attempt is made to segregate it from the total bul¬ lion returns. The shipment of treasure from the interior consists largely of coin, and this also must be subtracted. The following table shows the total receijits of treasure at San Francisco, both coined and uncoined, from the interior of California during the four quarters of the years 1864, 1865, 1866, and 1867, and comprises the aggregate for the whole of each year. 1 1 For these statistics, and for some of the following tables of production and export, I am y indebted to Carmany’s Review of the Mining, Agricultural, and Commercial Interests of the Pacific States for the year 1866, and to the Mercantile Gazette of January, 1867. Copies of the former were contributed by Mr. Carmany for distribution at the Exposition. 16 PARIS UNIVERSAL EXPOSITION Receipts of treasure, coined and uncoined, at San Francisco, from the interior of California, during the four quarters of the years IS64, 1865, 1S66, and lS67 f and comprising the aggregate of the same for the whole of each year. Months. From the northern mines. From the southern mines. Uncoined. Coined. Total. Uncoined. Coined. Total. 1864. October. $2, 742, 682 $280,315 $3, 022, 997 $461,927 $138, 972 $600, 899 November . 2, 543, 755 318, 530 2 , 862, 286 400, 773 149, 806 550, 579 December. 2, 660, 722 392, 453 3, 053,175 361,411 162, 770 524,188 Fourth quarter. 7, 947,159 991,298 8 , 938, 457 1,224, 111 451,548 1, 675, 659 Third quarter. 8,115, 081 994, 595 9,109, 676 1,334,110 378, 848 1,712, 958 Second quarter . 10,116, 501 790, 570 10, 907, 071 1,449, 762 285, 960 1, 735, 722 First quarter. 8 , 603, 571 1,043, 487 9, 647, 058 1, 339, 795 394,019 1,733,814 Total for year . £34, 782, 312 j $3,819,950 $38. 602, 262 34 4 , / / S { $1,510,375 $ 6 , 858,153 1865. [ October. $2, 688 , 079 $225, 977 $2,914,056 $437,274 $156, 642 $593, 916 November . 2,614,218 250, 853 2, 865, 071 373, 433 122, 935 496, 368 December. 2, 181,064 281, 630 2, 462, 694 31.1, 159 95, 634 406, 793 Fourth quarter. 7,483,361 758, 460 8 , 241,821 1 , 121,866 375, 211 1, 497, 077 Third quarter. 8 , 532, 457 669, 236 9, 201, 693 1, 237, 291 319, 028 1,556,319 Second quarter. 10, 526, 257 762, 750 11,289, 007 1, 407, 048 301,578 1,702, 626 First quarter. 10, 107, 262 902, 664 11,009, 926 1, 342, 208 324, 730 1, 666 , 938 Totul for year. $36, 649, 337 S3, 093, 110 $39, 742, 447 $5, 108,413 $1, 320, 547 $ 6 , 428, 960 1866. October. $3,128, 320 $198, 420 $3, 326, 740 $488, 450 $87, 614 $576, 064 November. 2,621,219 196, 337 2,817,556 490, 300 92, 330 582, 630 December. 2, 595, 531 200,512 2, 796, 043 486, 600 86 , 019 572, 619 Fourth quarter. 8 , 345, 070 595, 269 8 , 940, 339 1, 465, 350 265, 963 1,731,313 Third quarter. 9, 254, 509 929, 540 10, 184,049 872, 417 247, 635 1,120, 052 Second quarter. 9, 832,214 1, 190, 458 11,022, 672 920, 508 267, 909 1,188,417 First quarter . 7, 760, 962 807, 318 8 , 568, 280 848, 700 261, 267 1,109,967 Total for year. £35, 192. 755 $3, 522, 585 .. $38, 715, 340 $4,106, 975 $1, 042, 774 $5,149, 749 1867. January. $3, 077, 269 $439, 264 $3,516, 533 $220, 367 $166, 707 $387, 074 February . 2, 262, 155 265, 857 2,528, 012 203,918 57, 452 261, 370 March.. 2,719, 436 281,876 3, 001,312 203, 250 98, 674 301, 924 April. 3, 943, 605 246, 910 4. 190,515 287, 478 123, 275 410, 753 Mav. 3, 521, 435 250, 354 3, 771, 789 290, 543 130, 600 421,143 June . 3, 465, 576 J 273, 403 3, 738, 979 314, 402 114,107 428, 509 'July.j 3,701,611 . 291,524 3, 993, 135 309, 661 87, 910 397,571 August .; 3,736,035 ! 209, 890 3, 945, 925 262,188 75, 825 338, 013 September . 3,101,754 185, 920 3, 287, 674 237, 027 104, 969 341, 996 October . 3, 082, 637 307,219 3, 389, 856 263, 728 132, 028 395,757 November. 2, 968, 419 253,263 3, 221, 682 254, 921 184, 837 439,758 December . 1. 998, 695 ' 343,202 | 2, 341,897 165, 873 187, 721 353, 594 £37, 578, 627 $3, 348, 682 *40,927,309 $3. 013, 356 $1,464,105 $4,477,461 Total for vt-ar REPORT ON THE PRECIOUS METALS. 17 The totals of the uncoined bullion receipts are as below for the years named, and by subtracting from each the bullion product of Nevada for the corresponding years, we obtain, approximately, the gold yield of the State, to which, however, ten per cent, should be added to cover bullion which may be taken to San Francisco in the pockets of miners, and not manifested: Gold product of California. 1864. 1865. 1866. 1867. Uncoined bullion, northern and southern. Nevada bullion .........._................. $40,130, C80 16, 000, 000 $41, 757, 750 16, 800, 000 $39, 299, 730 16, 500, 000 $40, 591,983 18, 000, 000 Add ten per cent. Total gold product for each year.... $24,130, 080 2, 413, 008 $24, 957, 750 2,495,775 $22, 799, 730 2,299, 973 $22, 591, 983 2, 259,198 $26, 543, 083 $27,453,525 $25, 079, 703 $24, 851,181 The following table shows the receipts of bullion and coin at the port of San Francisco from northern ports, chiefly Portland, in Oregon, and from British Columbia and Mexico, for the past three years: Coastwise bullion receipts. Year. Uncoined. Coined. Totai. 1865—January. $333,123 $128,611 $461, 734 .February. 219,926 59, 978 279,904 March. 167, 411 40, 911 208, 322 April. 291,949 60, 873 352, 822 May. 362,150 47, 975 410,134 June. 791,928 52, 669 844, 597 July. 823, 641 31, 269 854, 910 August. 786, 558 32, 241 818, 799 September. 954,813 28, 876 983, 689 October. 634,116 23, 864 657, 980 November. 794, 085 16, 818 810, 903 December. 788, 802 24,180 812, 982 Total.. $6, 948, 511 $548, 265 $7, 496, 776 1866—January. 257, 930 30, 853 288, 783 February. 174, 219 80, 972 255,191 March. 197, 023 20, 577 217, 600 April. 274, 620 29, 974 304, 594 May. 411, 427 90, 956 502,383 June. 460,132 42, 388 502,520 July. C80, 953 37, 591 718, 544 August. 932, 392 56,959 989,351 September. 621, 426 7, 618 629, 044 October. 559, 212 54,055 613, 267 November. 412,183 45,300 457, 483 December. 415, 583 32,193 447, 776 Total. 9 n. $5,397,100 $529,436 $5, 926, 536 — — 18 PARIS UNIVERSAL EXPOSITION. (foastic i,sc bull ion receipts —Cont in ued. Year. Uncoined. Coined. Total. —January. $344, 440 $15, 381 $359, 821 February. 128, 799 10,884 139, 683 March. 119, 398 23,284 142, 682 April. 344, 075 7,450 351,525 May. 380, 780 11,636 392,416 June. 366, 265 8, 976 375,241 July. 760, 693 214, 744 975, 437 August. 1,006, 186 2, 536 1,008, 722 September. 490, 853 5, 556 496, 409 October . 744, 349 80, 980 825, 329 November . 536, 548 100, 520 637, 068 December. 442, 951 45, 450 488, 401 Total. $5, 665, 337 $527, 397 $6,192, 734 The amount of treasure exported from San Francisco in 1805 was $45,308,228, and in 1806 $44,304,393; showing a decrease of $943,835. The decrease for 1807 was much greater, as will be seen by the annexed table, which shows the amount and destination of the exports of treasure from the port of San Francisco for 1807, as declared at the custom-house: Statement of the amount and destination of treasure exported from San Francisco during the gear ending December 31, 1807, as declared at the custom-house. TO NEW YORK. In January.$2,809,235 55 Iu February. 1,390,207 24 lu March. 1,640,058 86 In April. 1,186,780 34 In May. 2,535,232 56 Iu June. 2, 661, 643 57 In July. 2,389,686 29 lu August. 1,610,041 45 Iu September. 1, 337, 755 30 In October. 1,024,552 18 Iu November. 1,957, 828 43 Iu December. 2, 800, 881 68 TO ENGLAND. Iu January. . $703, 070 85 In February_ . 384, C98 00 In M arch. In April. . 297,174 02 In Muv. . 788,772 13 In June . . 502,834 36 In July . . 616 302 22 In August . . 515,691 91 In September _ . 493, 965 34 In October . . 704, 600 43 In November. .. . 321,514 42 In December . .. . 156,408 71 $23, 355,903 45 TO FRANCE. Iu January. $122,331 56 In February.. Iu March. In April. In May. In June. In July. In August In September In October_ In November. In December . 105, 079 91 67, 000 00 69, 537 25 101,509 48 117, 400 57 183,751 64 234, 905 70 106, 600 42 34, 772 40 65, 555 27 74, 791 53 $1,283,235 73 TO CHINA. t In January. $806, 076 27 In Ft bruary. 376, oq 6 30 In March. 110,642 72 In April. 1,081,513 57 In May. 760,027 73 111 June. 698,933 73 In July. 1,746,078 69 In August. 385, 540 53 In September. 1,180,308 18 In October. 1, 119, 629 84 In December. 766, 546 77 $ 5 , 841,183 99 $ 9 , 031 , 504 35 REPORT ON THE PRECIOUS METALS 19 Statement of the amount and destination of treasure , &c.— Continued. TO HAWAIIAN ISLANDS. TO JAPAN. Ia January. $21, 685 46 In March. 10, 000 90 In April. In May. In July. In September. In October ... In December . 2,238 72 2, 845 00 1,100 00 10, 000 00 650 00 593, 430 34 TO PANAMA. In January. $30, 000 00 In February.. 30, 000 00 In March. 30, 000 00 In April. 29,000 00 In Mav.. 30, 000 00 In June . 30, 000 00 In July. 30, 000 00 In August. 32,127 40 In September. 40, COO 00 In October. 30, 000 00 In November. 31,424 30 In December. 30, 000 00 In February. In April. In May. In June. In July. In October... In December TO CENTRAL AMERICA. . $ 20 , 000 00 . 45, 550 00 . 28, 400 00 . 8 , 000 00 . 3, 000 00 . 8, 660 00. . 58, 370 00 $641, 949 52 372,551 70 $171, 980 00 In April. In June. In July. In August.... In October ... In November . $1, 300 00 1, 000 09 1, 000 00 5, 000 00 18, 906 00 29, 826 42 TO MEXICO. In January.. In February. In March.... In October .. In December 10, 000 00 3, 000 00 13, 000 00 5, 000 00 11, 000 00 TO VALPARAISO. In February. $399,849 08 In March. 323, 601 89 TO TAHITI. In February. In February. In October In December . TO VICTORIA. $50, 000 00 80, 000 00 25,000 00 $57, 032 45 42, 000 00 723, 450 97 500 00 155, 000 00 Total, 1867. $41,676,722 16 Total, 1866. 44,364,393 05 Decrease, 1867. $2, 688,100 89 The following table shows the value and destination of treasure ship¬ ments from San Francisco during the past 14 years—1854 to 1867 inclusive: Treasure shipment from California. Years. Eastern ports. England. China. Panama. Other ports. Totals 1854 . $46, 533,166 $3, 781,080 $965, 887 $204, 592 $560, 908 $52, 045, 633 1855 . 38, 730, 564 5,182,156 889, 675 231,207 128,129 45, 161, 731 1856 . 39, 895, 294 8, 666, 289 1, 308, 852 253, 268 573, 732 50, 697, 434 1857 . 35, 531, 778 9, 347, 743 2, 993, 264 410,929 692, 978 48, 976, 692 1858 . 35, 891,236 9, 265, 739 1, 916, C07 299, 265 175, 779 47, 548, 026 1859 . 40,146, 437 3, 910, 930 3,100, 756 279, 949 202, 390 47, 640, 462 1860 . 35, 719, 296 2, 672, 936 3, 374, 680 300,819 258,185 42, 325, 916 1861. 32, 628, 011 4, 061, 779 3, 511,279 349, 769 95, 920 40, 676, 758 1862 . 26,194, 035 12, 950,140 2, 660, 754 434, 508 322, 324 42, 561, 761 1863 . 10, 389, 330 28, 467, 256 4,206, 370 2, 503, 296 505, 667 46, 071,920 1864 . 13,316,122 34, 436, 423 7, 888, 973 378, 795 686, 888 56, 707, 201 1865 . 20, 583, 390 15, 432, 639 6, 693, 522 1, 224, 845 1,103, 832 45, 308, 227 1866 . 29, 244, 891 6, 532,208 6, 527, 287 511, 550 1, 548, 457 44, 364,393 1867 . 23, 355, 903 5, 841,184 9, 031, 504 372, 552 3. 075,149 41, 676, 292 Totals. $428,159, 453 $150, 548, 502 $55, 368, 810 $7, 755, 344 $9, 930, 338 $651, 762, 446 It is not possible to give the exports of the years previous to 1854 with so much accuracy. The records of the custom-house were destroyed 20 PARIS UNIVERSAL EXPOSITION in the lire of May, 1851, and the figures usually given of the production from the time of the discovery of gold in 1848 to May, 1851, are approxi¬ mations. It is believed that the exports up to 1850, inclusive, amounted to $00,000,000, and for the first four months of 1851, to May, $11,497,0002 The total exports from 1848 to 1867, inclusive, may be summed up as follows: 1 2 E.rj)oris of treasure from San Francisco , 1848 to 1868. 1848 to 1851. $66, 000, 000 | 1859. 640, 462 1851, to May 1, (esti¬ 1860. . 42, 325,916 mate) . 11, 497, 000 1861. . 40, 676, 758 1851, (8 months)... 1852 34,492,000 1862. . 42, 561, 761 45, 779, 000 ' 1863. 071, 920 707, 201 54,965,000 1864. . 56 ; 1854 52, 045, 633 1865 . 45, 308, 227 1855. 45,161, 731 1866. . 364, 393 1856 . 1857 . 50,697,434 48,376, 692 1867. . 41, 676, 292 1858. 47, 548, 026 || Total.$864,495,446 There is doubtless a considerable amount of bullion and of coin carried out of the port of San Francisco by passengers of which no account is given. The value of this unmanifested bullion and coin has been vari¬ ously estimated; Commissioner Browne considered that it might be $200,000,000 up to the end of 1865, 3 but this was probably an over esti¬ mate. It is usual to make an addition of 10 per cent, to the recorded shipments of bullion from the interior of the State to San Francisco, so as to cover the bullion and coin brought down by miners and others, and thus not entered on the books of the express companies. Such an allowance upon the total bullion export as recorded would be ample, for there is no doubt that the proportion of unmanifested bullion sent out of the State is far less than that which arrives from the interior. Adding, therefore, this liberal allowance of 10 per cent, to the total manifested exports of treasure, and adding, also, an estimated amount of $45,000,000 to cover coin in circulation, and gold and silver used in the arts—spoons, table service, &c.—and subtracting from the total the amount of treasure received from British Columbia, Mexico, and other sources beyond the limits of the United States, we shall obtain a close approximation to the 1 Miuing Magazine, January, 1857 ; vol. viii, p. 195. 2 In making up this tabular statement I have adopted, for the period from 1854 to 1867, inclusive, the figures published in the Mercantile Gazette, and Carmany’s Review. For the previous years I have taken the returns and estimates published in the Mining Magazine, vol. viii, p 193. All these figures differ somewhat from those published by Commissioner Browne. For the year 1853, for example, Mr. Browne gives the production as $57,330,034, and for 1864, $55,707,201. -•Mineral Resources of the United States, 1867. REPORT ON THE PRECIOUS METALS. 21 total value of tlie production of the precious metals upon the Pacific coast of the United States, from 1848 to 1868, being $1)61,000,000, as- shown below: Total manifested exports of bullion. $864,495,446 Add for unmanifested exports, (estimated at 10 per cent.) 86,449,544 Add for coin and gold and silver in use, estimate. 45,000,000 Deduct receipts from British Columbia, Mexico and other sources, estimated in part. 35,000,000 Approximate total production of the Pacific coast of the United States, 1848 inclusive, to 1868. $960,944,990 In roimd numbers. $961,000,000 I It is difficult to ascertain what portion of this total should be credited to the State of California alone, but in order to arrive at an approximate estimate of it, the production of Nevada, Idaho, Oregon, and Washington, and other interior sources, must be deducted. Assuming this production to have been, in the aggregate, including the 10 per cent., $154,000,000, the remainder, $807,000,000, is an approximation to the value of the gold production of the State of California since the discovery of gold upon the American river in 1848. QUARTZ MILLS. The number of quartz mills in operation in the State in April, 1857, was 138, with an aggregate of 1,521 stamps; the cost of erection of which was $1,763,000. The number in operation November, 1858, was 279, with an average of 2,610 stamps, the cost of erection of which was $3,270,000. The number in operation January 1,1867, was 411, of which 207 were propelled by steam, 186 by water, and 18 by steam and water. The aggregate number of stamps was 4,997, and the cost of the machinery was estimated at $5,900,000. In addition to the stamps, 419 arrastras were employed, of which 350 were connected with different quartz mills. The following is a statement of the number of quartz mills in the State of California in 1866: 1 Bangley’s Pacific Coast Business Directory, 1867. Tabular statement of quartz mills in California , 1SG6 to to Locution of mill. Nume of mill. 1 o u o a* BD a c3 a 6 5? No. arrastras. Power. Cost. Gold, silver, or cement. Occupants in 1866. AI.I’INK COUNTY. Mnrkleovillo. Pioneer. 1863 10 4;"n non Silver mountain. Ktur. 1864 6 i ^ non Jones, A\ ado Co. Do. Washington. 1866 10 20, 000 w . mtesidPH. G. Waslin, Mining and Mineral Co. AMADOU COUNTY. Amador City. Amador. 1856 10 in non Middleton &. Co. Do. Bunker Hill. 1855 8 io nnn Do. FI eoh art’s. 1866 10 in non . - . . CIO. >\ Ilham A. Palmer. Do. Hazard. 1857 g r non .... CIO. Gardner & v leenart. Do. Keystone. 1856 40 /in nnn . . . . GO . _ . . Do. Do . Spring Hill. 1856 40 Steam aDd water. 40, 000 ... .CIO. -do. Gashwilder y Do. . Name of mill. emigylvania _ weotVengeance Kagleville .., Indian ranch Middle Vuha SmarUvIlle . Temple No. 2_ Mount Hope Andrew Jackson *6 & o - b O Z £ CD Q. a 3 X © X . • u 9 u u d 6 * Power. Cost. Gold, silver, or cement, Occupant* in JeGG. 1802 16 ....do. $10, 000 - do . Pennsylvania Mining Company. 1805 20 ....do. 50, 000 _ do . Sweet Vengeance Milling Company. 1805 8 15,000 _ do . Incorporated. 180G 6 30,000 10, 000 Do. • Mount Hope Mining Company. 1805 4 - do . 1866 10 ....do. 12, 000 ....do. Andrew Jackson Mining Company. PARIS UNIVERSAL EXPOSITION. 37 REPORT ON THE PRECIOUS METALS OREGON. Gold placers have been worked in Jackson county, in tbe southern part of Oregon, since 1850, and tbe production has been estimated at $1,000,000 annually. The Secretary of State reports the yield of gold for 1864 as 106,226 ounces, valued at $1,900,000. The gold-washings of John Day river are reputed to have yielded $1,500,000 in 1866. The total production of the State for 1867 is stated to be $2,000,000 by some and $4,000,000 by others. These are partly estimates, and it is not pos¬ sible to obtain exact and complete returns. I have adopted the estimate of $2,000,000 as probably nearest the truth. The shipments of bullion from Portland to San Francisco include the gold and silver from Idaho and a part of Washington Territory. The total amount of treasure man¬ ifested in 1866 was $8,726,017; but the sources from whence it came were not specified. There is a great want of authentic information upon the mineral resources of Oregon, which are believed to be very great. In the Santiam district some promising veins have been opened and some very rich quartz extracted; but, for unexplained reasons, the mines are neglected and no returns of bullion have been made. The following notices of these districts are condensed from a descrip¬ tion furnished to the writer in 1866 by Mr. Foley: Gold Creek district , North Santiam .—“The North Fork of the Santiam flows from the base of Mt. Jefferson (on the north side) west-southwest, through the western slope of the Cascade mountains, until it debouches in the main Santiam, 40 miles from its source. Gold creek heads on the south side of Web-foot mountain, (which divides the head-waters of Clackamas, Molalla, and Gold creek,) flows southwest 12 miles, and empties in the North Fork. “Gold Creek district was organized on the 29th day of August, 1865. Its boundary is the area of country drained by the tributaries of Gold creek. Through the centre of this district runs north and south a back¬ bone or mountain ridge, known as Web-foot ridge, having an altitude of 3,000 feet above the sea, which inclines or sloped to the east and west, at an angle of 35 degrees to the plane of the horizon, and is not more than 5,000 feet wide at its base, east and west. Twenty well-defined quartz lodes, already discovered, cross this ridge. Their general course is 25 degrees west or north, dip to the east-northeast from 20 to 35 degrees, and contain gold and silver. They are parallel and about 50 yards apart. “Of these may be mentioned the Gibbs, Tracey, Jefferson, Moore, and Chapman lodes. The following named companies were organized for working in this district: Aurora, 7,200 feet; Oregon City, 10,000 feet; Laurel, 30,000 feet; Phoenix, 4,800 feet; Morning Star, 12,000 feet. The Aurora company has a tunnel 80 feet in length, from which has been taken about 150 tons of ore; the Oregon City, one of 40 feet, from which 70 tons has been taken; the Phoenix, a shaft 45 feet in depth. There is as yet no machinery in this district. Wood is abundant. “South Santiam, or Santiam proper, is situated on the South Fork of 38 PARIS UNIVERSAL EXPOSITION. the Siintiam. This stream flows from the south side of Mt. Jefferson. Some 30 quartz lodes are diseovered in this camp, and they are similar to those of North Santiam, with the exception that they contain more copper ore. South and North Santiam are 40 miles apart as the quartz lodes run.” The number of stamp mills in the State in 1800 was 14, with au aggregate of 67 stamps and 17 arrastras. Gold quartz mills in Oregon in I860. Local ion. Name of mill. When erected. \H £ H 3 “ « * [ u cc 1 £ 5 g! >5 is Power. Cost. Baker county . Baker pity . . 20 Grant county. Prairie Diggings - Vincent creek . i Water. C!ro\vcher*fl . 3 Water. Jackson county . A pole crate . Steamboat. I860 4 3 Water. $8, 0C0 1,200 8, 000 4, 000 10, 000 Dardanelles. Occidental.. 1866 10 o Steam . Jackson creek . Hopkins... 1860 5 1 Steam . Do. .Tohnson’H._ _ 1862 o Water. Rogue river. Jewett’s. 1861 5 Steam . Sterling. Ives. 1865 1 Horse . 500 Thompson creek.... Josephine county ... Thompson Creek . . 1865 4 Water. 1,500 Enterprise. Enterprise__ 1865 10 o Water. 18, 000 Union county. Eagle creek. Eagle. Hoquiin. Carter & Davis.... 1865 5 1 Water. 8 , 000 8 , 000 Rooster. La Grande ... 1866 5 ! Occupants in I860. J. S. Ruckles. Aldred & Co. Crowcher & Co. Fowler & Co. Hogan &. Co. Hopkins & Co. Johnson & Co. Byba & Co. Porter Ives. Morris & Co. -Cohen. Meacham Bros. 4, July, 1659. REPORT ON THE PRECIOUS METALS. 47 Pass. Large numbers of miners and prospectors were reported to be flocking there from Idaho, Montana, Nevada, and California. The Sweetwater mining region is divided into five mining districts: Sho¬ shone, California, Mill, Pacific, and Kentucky Home. The Atlantic ledge in California district is more thoroughly prospected than any other. A shaft 70 feet deep has been sunk on the vein, and at that point it is said to be 20 feet wide. Good placers are reported and sluices have been laid in Atlantic Gulch. Timber and water are abundant. Rich placers are reported on the head-waters of Wind river and in the Big Horn mountains. APPALACHIAN GOLD FIELD. In the year 1799 Conrad Reed, a boy 12 years of age, picked up a piece of gold in the bed of a small stream on his father’s farm in Cabarras county, North Carolina. It was not recognized as gold, and was kept for several years in the house to hold the door open, and was finally sold to a silversmith for $3 50. This mass was about as large as a small smoothing iron, and several other masses of large size were afterwards found in the same stream, the largest of all being the 28 pound lump, so of^en mentioned. There was no excitement in regard to gold until 1829, when placers were opened in Burke and McDowell counties, in the same State, and from these mines the gold was traced southward into Georgia, where it was first discovered on Duke’s creek, in Habersham, now White county, in part. This discovery was made by a negro named Charles, when on his way from North Carolina to one of the towns in Georgia. From this discovery the metal was traced into Lumpkin county, and thence across Georgia into Alabama. A great rush for the newly discovered gold mines succeeded, and a large amount of gold was taken out of the beds of the streams and from the hill-deposits of gravel. This gold belt is a mountainous region; the deposits are very much like those of California, and many of them were astonishingly rich. The gold deposits were also traced northward into Virginia, and many valuable mines have been opened and worked there. This gold field, which stretches southwesterly from Virginia through North Carolina, South Carolina, and Georgia, is not an unbroken or con¬ tinuous zone of occurrence of the precious metals, but is composed of many subordinate belts, occurring at intervals, and generally parallel with each other, though often many miles distant. In North Carolina there are two principal belts, one of which extends across the State through Mecklenburg, Cabarus, Rowan, Davidson, and Guilford counties, and the other extends through Rutherford, Burke, and McDowell coun¬ ties, and is from 10 to 20 miles distant from the base of the principal ranges of the Blue Ridge. This last is the most western of the two belts, and it is much more elevated than the first, and has more extensive and richer placer deposits. This is the belt of gold deposits which was traced into northern Georgia, and forms the gold region of the vicinity of 48 PARIS UNIVERSAL EXPOSITION, Dalilonega, and this region, as in North Carolina, is separated from another gold-producing zone by an intermediate barren region. Quartz veins are found in both of these principal auriferous zones, and they closely resemble the quartz veins of California' in appearance and in their contents. Gold is found either free, in coarse grains, or in fine particles, disseminated in sulpliuret of iron or copper. Some of the veins which yielded gold freely at the outcrops, where the pyritous ore had decomposed, have been worked for copper ore in depth. One of the vein mines in North Carolina, the Gold Hill group, is said to have yielded over $2,000,000. The deposits of gold from the Appalachian mines at the mint and its brances, between 1804 and July, 1SG7, are reported as follows: 1 This is believed not to represent the entire production, for a very lar^e amount was undoubtedly used in manufactures and did not reach the mints for coinage. Virginia. $1,580,388 72 North Carolina.... 9,344,933 29 South Carolina.... 1,354,804 52 Georgia. 7,000,439 70 Alabama. 202,172 13 Tennessee. <.. 81,406 75 $19,504,215 11 As the best placers were worked out the production rapidly diminished, and when the great discoveries in California were made known the placer deposits and many of the veins were abandoned for the new El Dorado. The most skilful of the miners in California at an early date were those who had already had some practical experience of mining in the southern States. The following table, showing the amount of gold from Georgia deposited at the Philadelphia mint and Dalilonega branch mint up to the close of the year 1855, will show the rapid decrease in the production: 1828 to 1837. .$1, 763, 000 1852 1838 to 1847. .... 3, 544, 009 1853 1848 . . 254,740 1854 1849 230 349 1855 1850 . . 209,587 1851. . 157,213* $90, 542 58, 896 54, 588 58, 419 $0, 434, 909 The quality of the gold from the different placers and veins along the gold field varies considerably, as it does in California and other gold fields. The average quality of Georgia gold is, however, rather above that of California, as is shown by the following averages of a great number of assays of the bullion from the principal stream deposits and vein mines of Georgia: Auraria, Lumpkin county, vein and placers.950 Dalilonega, Lumpkin county, vein.925 Lewis mine, Lumpkin county, vein. 899 Calhoun vein, Lumpkin county, vein.900 ‘Report of the Superintendent of the United States Mint. REPORT ON THE PRECIOUS METALS. 49 New York vein, Lumpkin county, vein.900 Load deposit, Lumpkin county, placer.880 Loud deposit, Lumpkin county, placer.830 Asbury and Craigs, Lumpkin county, placer, (near Loud Deposit). .819 Pasco mine, Cherokee county, vein.950 Bell mines, Cherokee county, vein..975 Stricklan, Cherokee county, vein.950 Elrod, Hall county, vein.906 If we leave out the assays of gold from the Loud deposit, which is peculiar for its amount of silver, the average of all becomes 928 thou¬ sandths. California gold is usually estimated at 875 to 900 thousandths fine. In the State of New Hampshire gold has been found in alluvial depos¬ its of limited extent on the flank of the Green mountains, and some of the placers have been worked with fair success by individuals, but the total production is insignificant compared with other regions. Within the past three or four years some attention has been given to veins of gold-bearing quartz in that section. Neither these mines nor those of the southern States were represented in the Exhibition. CANADA. The Geological Commission of Canada exhibited gold from the alluvial deposits of the valley of the Chaudiere river. This gold appears to be derived from the degradation of the meta- morphic rocks of the Upper Silurian and the Devonian periods. These rocks are found to be traversed by numerous veins which carry sul- phurets of iron, zinc, copper and molybdenum, and argentiferous galena with native gold. The alluvial deposits derived from the abrasion of these veins and the enclosing rocks cover a great extent of country to the southeast of the Notre Dame mountains, and are found to be aurif¬ erous. This placer or alluvial gold is sometimes accompanied by a little platina and iridosmine. Mining in the region has been confined chiefly to the alluvial deposits, and it has been attended with considerable success in some places. One of the most productive and extensive deposits is upon the Gilbert river, on the De Lery grant. The gold is quite coarse and heavy. NOYA SCOTIA. The Gold Commission of Nova Scotia exhibited a collection of gold nuggets and of auriferous quartz from the various gold fields of the province. Other collections of minerals and ores were sent by Mr. H. How. Among the most prominent or interesting specimens the following may be noticed: Gold in quartz from Hamilton, Tangiers. This gold is remarkable for 4 Gr PARIS UNIVERSAL EXPOSITION. 50 its purity and rich yellow color. Similar specimens were shown fiom Oldham, containing also iron pyrites and mispickel, with which the gold is closely associated. The walls of this vein appear to be a black graphitic slate similar to that of the Hayward mine in Amador county, Cali¬ fornia, and at the Princeton vein on the Mariposa estate. There was, also, an interesting series of specimens from Renfrew, Isaac’s Harbor, and Montagu. These ores occur iu the Lower Carboniferous conglomer¬ ate of Gray’s river. One of the most remarkable deposits of quartz yet found in Nova Scotia is on Laidlaw’s farm, Waverly. It is in a horizontal bed from eight to ten inches thick, and is corrugated to such a degree that where uncovered it looks like a layer of logs or trees side by side, as they are placed in making corduroy roads. It also resembles an assemblage of small casks placed end to end, and from this circumstance the miners have given the name “ barrel quartz ” to the formation. The general course of the quartz veins is north G0° west, and their dip is toward the southwest. The gold was first discovered at the head-waters of the Tan¬ gier river, and other localities were soon discovered in succession at the Ovens, Lunenberg ,* at Lawrencetown, Dartmouth, Sheet Harbor, Isaac’s Harbor, Sherbrooke, Waverly, and Oldham. A report upon the gold region of Nova Scotia lias recently been made by Dr. T. Sterry Hunt, F. R. S., and addressed to Sir W. E. Logan, direc¬ tor of the geological survey of Canada, 1 to which reference may be made for full details of the geology and of the present condition of the mines. A few extracts are here given: “ Although the Acadian Geology of Dr. Dawson was published in 1855, 2 some years before the discovery of gold, there will be found in its fif¬ teenth chapter a somewhat detailed description of the coast district of Nova Scotia, which has since become famous as a gold region. This con sists of a zone of ancient stratified rocks lying exposed between the over- lying strata of the Carboniferous system on the northwest and the ocean on the southeast, and having a breadth of from 30 to 50 miles in the wider portions, which to the northeast is reduced to not over eight miles. This belt of rocks extends along the Atlantic coast for a distance of about 250 miles, from Cape Sable on the west to Cape Canseau on the east, and has a superficies of about 0,000 square miles. Its surface is generally low, rising, however, in some places, to about 500 feet above the sea, and is in great part rocky and barren, the powerful denuding agencies to which, in past times, it has been exposed, having, over a large portion ot the area, removed the alluvial deposits with which it was once cov¬ ered and left the upturned and worn edges of the strata bare, or covered only with boulders of quartzite or granitic rocks. A large portion of this region is still an unexplored wilderness, and some of the most important gold districts are in localities which, until the discovery of the 1 Printed by order of the House of Commons, Ottawa, 1868. - A second and much enlarged edition of this work is now in press, and will shortly appear. REPORT ON THE PRECIOUS METALS. 51 precious metal, were unreclaimed forests, so that it is in every way prob¬ able that further explorations may detect many other districts not less important than those already known. u The rocks of this region consist chiefly of slates and quartzites; they are, however, cut in many places by intrusive granites, and in addition to these several small areas of gneissic rocks occur in different parts of the belt, but their true relations to the great mass of the strata are not yet clearly made out. Leaving these aside, the rocks which cover the principal part of the area under consideration are, by Mr. Campbell, divided into a quartzite group and a clay-slate group, the latter con¬ formably overlying the quartzite, and the two constituting one gold- bearing series. The total measured thickness of these two divisions is, according to the same authority, nearly two miles; but the gold appears to be chiefly confined to the quartzite, and the lower portions of the clay- slate division. The geological age of these rocks is uncertain $ alth ough comparatively little altered, they are without fossils, so far as yet known, and are very unlike the fossiliferous Upper Silurian and Devonian rocks met with in other parts of the province; at the same time the high antiquity of the gold-bearing strata is shown by the fact that the Carbon¬ iferous system rests upon their upturned edges, and is partly formed from their ruins. In the present state of our knowledge it appears prob¬ able that they may represent a part of the Lower Silurian series, which, like the Upper Silurian and Devonian of this part of the continent, may be supposed to consist chiefly of non-calcareous sediments. “The rocks of the gold series are affected by undulations running nearly east and west, which have raised the strata to high angles, often approaching the vertical. According to Mr. Campbell there are not less than six principal anticlinals exhibited on a transverse line of section, extending from the sea-shore at the southeast entrance to Halifax har¬ bor, northward to the Eenfrew gold district, a distance of about 35 miles. The direction of these nearly parallel anticlinals is about east and west; but to the westward they bend towards the south, and to the eastward, in like manner, disappear beneath the sea, between Cape Canseau and Liscombe harbor, with a strike east 30° south. u lu addition to the great east and west folds the gold series is affected by a second series of more gentle undulations, having a north and south direction, and producing transverse anticlinals, on the crowns of which the gold-bearing portions of the series are brought to the surface, while they are concealed not only in the great east and west synclinals, but also in the north and south synclinals where these traverse the east and west anticlinals. The total thickness of the series, as already stated, is estimated at about two miles, and the amount of erosion on the crowns of some of the anticlinals, according to Mr. Campbell, cannot be less than one and a half mile in vertical thickness, of which the upper half mile, consisting of clay-slates, is generally sterile. Since, so far as yet observed, the gold is confined to the quartzite and the lowest portions of the over- PARIS UNIVERSAL EXPOSITION. lying clay-slate, it would follow that wide areas of the latter, holding the upper portions of it, will be destitute of gold, or yield it only along a narrow belt where the lower and auriferous portions of the slate may be brought to the surface along the line of an anticlinal, as is observed,, according to Mr. C., at the Ovens gold field. When, on the contrary, erosion has exposed a wide zone of the underlying quartzite on the crest of an anticlinal, the breadth of the area in which gold may be sought for is much increased. u Mr. Campbell has called special attention to what lie lias called the grain or reed-like marking often impressed on the surface of the beds in a direction parallel to the east and west axes of folding, and lie points out that the angle of dip, eastward or westward, of these markings on the crown of the great anticlinals enables us to detect the transverse or north and south lines of undulation, which have at a subsequent period dis¬ turbed the horizontally of the east and west anticlinal folds. The mark¬ ings in question often appear as rib-like ridges or flutings, which are most conspicuous on the surface of the auriferous quartz layers and the enclosing beds. On the summit of the anticlinal folds they are sometimes so large and so well defined as to give to the layers a wrinkled or corru¬ gated form, producing what is designated in the region as barrel quartz, and has by some observers been compared to the ripples on water, and by others to that parallel arrangement of logs which is seen on what is called a corduroy road. The best known sample of this is at Waverly, but it is also seen at Montague, Oldham, and at Upper Stewiacke. u Having thus acquired a general notion of the geological structure of the region, we may consider its lithological characters, which are very simple. The quartzite which forms the principal rock of the lower divi¬ sion, interstratified however with thin layers of bluish argillite or clay- slate, is essentially a granular quartz rock, with an apparently argilla¬ ceous cement, sometimes considerable in amount. It is hard and gray in color, passing into blackish or greenish in the interior, but becoming nearly white on weathered surfaces. Its lines of bedding are distinct, and besides two sets of joints which often cause it to break into regular rhombic masses, it occasionally shows a slaty cleavage, independent of the bedding, and from a development of mica in the cleavage planes, passes into a very quartzose mica slate. The quartzite of this region is by the miners generally designated as whin, the vulgar name in Scotland for a greenstone or diorite, which somewhat resembles it in color and texture, though a softer rock than the Nova Scotia quartzite. u The slate, which is interstratified in thin bands with the quartzites, and frequently forms the underlying rock of the gold-bearing quartz lodes, is generally a soft and fissile, blueish or blackish argillite, or clay- slate, and the same may be said of the strata which forms the base of the upper or clay-slate division of the gold series, so far as I have had an opportunity of observing it. A peculiarity of this region, which strikes every mineralogist, is the great rarity of everything like calcareous rocks REPORT ON THE PRECIOUS METALS. 53 or minerals. This is seen in the absence of limestone, serpentine, diorite, or other hornblendic rocks, and of talcose or chloritic slates, nothing of the kind being met with in most of the gold districts. Professor Silhman, however, mentions the rare occurrence of chloritic slate, and also of epidote and stanrotide in minute crystals in the Tangier district, and of a green magnesian rock resembling serpentine and holding gold, at Wine harbor. Small portions of chlorite are found in the quartz lodes at Sherbrook, Oldham, and Montague. Chloritic and hornblendic rocks, according to Dr. Dawson, occur near Yarmouth, and in the peninsula which terminates in Cape Canseau, fine-grained gneiss with much mica slate, and clay-slates abounding in crystals of chiastolite, are met with.” METALLIFEROUS LODES. “In the series of rocks just described gold is occasionally met with dis¬ seminated both in the quartzite and in its accompanying bands of slate; but it is chiefly found in well-defined beds or layers of a more or less pure quartz, which are generally very distinct from these rocks, although interstratified with them. Besides these there are other quartz lodes which cut or intersect the strata, filling cross fissures, which, according to Mr. Campbell, are generally connected with the north and south lines of elevation. These cross veins are irregular, seldom continuous, and, though sometimes carrying gold, are of little economic importance and seldom wrought. The fact that the productive quartz lodes of Nova Scotia are conformable with the stratification has been insisted upon both by Messrs. Silliman and Campbell. The latter, who conceives them to be newer than the strata, and to have been formed in openings or sep¬ arations between the beds of slate and quartzite, mentions that the lodes in some instances pass from the plane of one bed to another, in descend¬ ing. In one supposed instance pointed out to me, this appearance seemed due to a small fault running east and west, parallel with and near the crown of a great anticlinal. In other cases this apparent change of plane depends, I think, upon irregularities in the bedding, and the intercala¬ tion of lenticular masses of argilite or quartzite in the layers of metallif¬ erous quartz. The beds of all these materials occasionally thin out and disappear in the strike or dip, and in some cases beds of quartz, separated by layers of interposed rock, are found to unite, further on, into a single bed. So far as my present observation goes, I think that to describe them otherwise than as interstratified beds would be to give a false notion of their geognostic relations. The laminated structure of many of the lodes, and the intercalation between their layers of thin continuous films or layers of argillite, can hardly be explained in any other way than by supposing these lodes to have been formed by successive deposition at what was, at the time, the surface of the earth. There is, moreover, evi¬ dence that these laminae were formed before the lodes were folded and contorted; this is furnished by some remarkable specimens of the so-called barrel quartz which I took from a lode at Upper Stewiacke, and which o4 PARIS UNIVERSAL EXPOSITION. consists of a bluish quartz in thin plates, sometimes not more than one- twentieth of an inch in thickness, and presenting in some instances glazed surfaces coated with thin argillaceous films, and in others, pelli¬ cles of argillite having the thickness of paper. The surfaces of all these layers are deeply striated or furrowed at right angles to the axis of the larger convolutions of the bed, a result evidently due to a sliding of the layers of the quartz lode over one another during the corrugation of the strata, which has here taken place near the summit of the anticlinal. It seems not improbable that the corrugated structure of the lodes, which gives rise to the barrel quartz, is due to the difference in texture, and to the greater resistance to lateral pressure offered by the quartz layers than by the enclosing beds of clay and sandstone, which by tlieir con¬ solidation have given rise to the argillites and quartzites. There is, moreover, evidence that during the movement of the strata openings and fissures were in some cases formed in these quartz lodes, giving rise to joints in which gold, metallic sulphurets, and carbonate of lime were afterwards deposited, apparently by solution and segregation from the adjacent parts of the lode.” GOLD PRODUCTION OF NOVA SCOTIA. A gilded pyramid in the Exposition represented the bulk of the gold extracted from the Nova Scotia mines from January, 1862, to the month of September, 186G, according to the official reports. This pyramid was about five feet high and 18 inches square at the base. The total weight of the gold so represented was stated to be 2,634 kilograms and 393 grammsj its value 8,161,579 francs, or about $1,632,315. The following are the official returns of gold obtained from Nova Scotia, from 1860 to 1866: Production from 1860 to 1866. Perijd. 1 ® c >> 55 ° I® © £ be = ! © i 55 iji 1 02 *■6 r O JZ p » C8 p .2 *© p a p — Q> tD Yield per ton. Gold from allu¬ vial mines. Total yield of gold. Tons. ciot. lb8.1 Oz. dwt. gr. Oz. dwt. gr. Oz. dwt.gr. Year ending December 31, 1862. 484 30 18 1 12 6,401 0 0 : 1 1 1 311 0 0 7,275 0 0 Year ending December 31, 1863 . ! 877 35 25 10 17,001 14 15 1 0 16 12 28 0 0 14,001 14 17 Nine months ending Sep¬ tember 30, 1864 . 830 35 23 12 ! 15,316 14 0 0 19 0 38 11 3 14,565 9 8 Year ending 1865 .j 692 33 ! 23 10 1 23,835 11 0 1 0 21 141 0 7 24,867 5 22 Total . 00,709 9 23 1 1 1 1 55 REPORT ON THE PRECIOUS METALS. The statistics of production are follows: 1862 . $145,500 1863 . 280,020 given by Mr. Taylor 1 in dollars as I 1864. $400,440 I 1865. 509,080 He further states that the statistics exhibit very accurately the aver¬ age yield per man, which in 1863 was 95 cents a day; in 1864, $1 39; and in 1865, $2 13. The ingots or bars of Nova Scotia gold are current in Halifax at $20 per ounce. The assays made by Professor Silliman show values of $19 97 and $20 25. The gold commissioner of Nova Scotia assumes $19 50 per ounce as the basis of his calculations of the value of the gold product of the province. A table from the report of the chief commissioner of mines, showing the returns of the gold mines of Nova Scotia for the year ending Septem¬ ber 30, 1867, is given on the next page. In this table are given for each gold district the average daily labor employed, the number of mills with steam or water power, the number of tons of quartz crushed, the average yield of gold to the ton, the quantities of alluvial gold, the total amount of gold, and finally, the annual return for each miner employed, the price of gold being estimated at $18 50 the ounce, which, as we have seen, is considerably below the real value. A column giving the maximum yield per ton from each district has been omitted, inasmuch as it is deduced from the treatment of lots of ore of exceptional richness. Dr. Hunt says: u It is impossible to determine with precision the total amount of gold obtained from the mines of Nova Scotia since their discovery. The Department of Mines was not organized until 1862, and it was not until the following year that complete returns were obtained. From this it results that no accurate estimate can be given of the amounts of gold obtained in 1860,1861, and 1862, though they are supposed to have been not inconsiderable. The official returns for the last six years, based on the gold for which the royalty of three per cent, has been paid, are as follows: 1862 1863 1864 1865 1866 1867 Ounces. 7, 275 14, 001} 20, 023 25, 4541 25, 204£ 27, 583 Total 119, 541£ “The value of the above amount of gold, at the government price of $18 50 the ounce, is $2,211,508; but at $20, which is about the worth of 1 Report of J. W. Taylor, p. 337. PARIS UNIVERSAL EXPOSITION. 56 the Nova Scotia gold, it amounts to $2,390,081. It to this we add the tinrcported gold obtained in the first two or three years, we may conclude that the whole product has been equal in round numbers to about two and a half millions of dollars.” The following is a detailed statement showing the average daily labor employed, the amount of quartz crushed, the yield of gold per ton ot quartz, the quantities of gold from alluvial mines, the yield of gold per ton in each district and in the whole province, and the value of the average yield of gold per man employed in mining, for 12 months ending September 30, 18G7: 1 Production of the min ing districts for one year. Districts. Average men employed. Crushing mills employed September 30. 1807. £ o ft g 1 Water power. Tons of quartz, &c., crushed. Yield per ton. Alluvial gold. 1 Total yield of gold. | Average yield per man for 12 monthB at $18 50 per ounce. i 1 — oi.dwt.gr. oz. dwt. gr. oz. dwt. gr. Stormont, (Isaac’s Harbor).. 45 0 2 .... 1,149 15 8 1, 505 2 11 $618 73 Wine Harbor.... 33 4 3 1 1, 667 8 13 764 9 9 428 60 Sherbrooke.. .. 99 5 5 5, 809 19 8 8,522 8 11 1,592 58 Tangier. 19 4 o 2 486 16 7 20 6 0 395 16 10 385 50 Montague_..._...... 19 1 1 214 1 19 0 417 13 21 406 60 Waverley_____ 181 5 4 1 11,289 7 7 4,134 18 17 422 63 Oldham... 52 4 1 3 1 960 18 7 1,359 12 2 483 88 Renfrew_____ 189 5 1 3 2 7,770 14 4 9, 401 2 10 895 30 Uniacke... 30 3 3 1,212 15 15 947 1 17 584 CO TJnuproclaimed, and other districts . 9 2 1 1 117 13 4 28 15 15 135 0 21 278 55 | 67C 35 ! 27 | 8 30,673 17 23 49 1 15 j 27, 583 6 97 $765 00 MEXICO. Most of the gold produced in Mexico is found associated with the ores of silver. The average annual production in the present century, accord¬ ing to the mint returns, has ranged from $500,000 to $1,300,000. It is believed, however, that only about three-eighths of the total product of gold passes through the mints. Upon this hypothesis Mr. Danson cal¬ culates that the total production of gold in Mexico, from 1804 to 1847, was nearly $S 3 , 000 , 000 . 2 Duport estimated the value of the gold mined in Mexico as about one-eighth that of the silver, and its weight, including the gold separated from silver, as of that of the silver. 1 From the report for 1S07 of Hon. Robert Robertson, chief commissioner of mines for Nova Scotia, appeudix B. -Vide Chapter V, under “Silver,” and Jour. Stat. Soc., Lon., viv. REPORT ON THE PRECIOUS METALS. 57 PRODUCTION OF GOLD AND SILVER IN THE UNITED STATES AND TERRITORIES. PRODUCTION IN THE YEAR 1867. The following tabular statement of the value of the total production of the precious metals in the United States and Territories for the year 1867 is prepared from the data given in the foregoing pages. The figures are in round numbers j they are in part estimates, and are to be regarded as close approximations, it being impossible to obtain the exact amounts. The data show that the value of the total production for the year is $71,000,000. Of this, $56,000,000 is considered to be in gold bullion, and $14,500,000 is silver, this being exclusive of the value of the gold in the bullion from the Comstock lode. One-third of the value of the Comstock bullion, and a little over one-fifth of the value of the Idaho production is regarded as gold. The aggregate value of the gold and silver bullion is given in the last column. The estimated value of the silver bullion is given in the second column, and the value of the gold bullion is obtained by subtracting the value of the silver from the total value. As the returns of production of gold and silver are not separately made, it is not possi¬ ble to segregate the exact value of each, and only estimates can be given. One-third of the value of the Comstock bullion and a little over one- fifth of the value of the Idaho production is regarded as gold. Bullion production of the United States and Territories in 1867. States and Territories. Value of gold bullion. Value of silver buliion. Total value of bullion. California. $25,000, 000 6, 000, 000 $25, 000, 000 18, 500, 000 3, 000, 000 6, 500, 000 12, 000, 000 Nevada. 4>iq con nnn Oregon and Washington. 3, 000, 000 ^ non non ip 1/4, DUU, UUU Idaho . l cnn nnn Montana. Om uuu, cuu 12, 000, 000 500, 000 300, 000 9 nrn nnn 1, 5UU, 000 Arizona. New Mexico. 500, 000 Colorado. cnn new* 300, 000 2, 500, 000 2, 700, 000 Utah, Appalachian, and other sources not manifested . 2, 700, 000 DUO, UUU Totals. nnn * $71, 000, 000 er llergwerks-Betrieb fur das Jabr 1865; Vienna, 1867. -' One Vienna centner equals 56.00199 kilograms; one florin equals *2.5 francs. J Strabo, lib. iv, cap. 6. * Italie Economique en 1867 : 8vo.; Florence, 1867. ■ Metallurgy of Goid and Silver, p. *20. i Vienna eeut- uors. 4 Value in florins. _ | Value iu dol¬ lars. 132,963 292, 598 $146,300 159,485 432, 666 218,833 162, 303 320,266 160,232 REPORT ON THE PRECIOUS METALS. 99 Anzasca, Toppa, ancl Antrona, and in smaller quantity in those of Alagna, Sesia, and Novara. The principal mines are at Peschiera, and Minera di Sotta, Anzasca. The ore is an auriferous pyrites, containing an average of about 12 pennyweights of gold per ton. In 1844 the yield of the different valleys was as follows: Name. Kilos. Value. 153. $80, 460 19. 10,160 20. 10, 750 1,250 $102, 620 Alagna, Sesia, and Novara — ------.. .* ■ ■ ------ The development of some of these Italian mines has recently been undertaken by English companies, and Mr. Phillips gives in the appen¬ dix to his work some of the first returns, supplied to him by Mr. J. C. Goodman, as follows: Toppa Gold-mining Company. Year. Ounces. Value. 509.275 574. 575 1,400. 925 £1,798 18 09 2,032 14 05 4,927 15 08 2, 869. 050 £8,789 08 10 The ore has averaged 1 ounce 5 pennyweights of gold per ton. Anzasca Gold-mining Company. Year. Ounces. Value. 1864 . 381.650 740.475 1, 746.925 £1,105 14 10 2,291 14 09 4,966 16 03 1865 . 1866 . Yield since 1863 . 2, 869.050 £8,364 05 10 Pestarena Gold-mining Company. Year. Ounces. Value. 1866. 2,806.500 2,729.775 £9,125 17 09 8,669 14 00 1867, (to July). The ore of this mine has yielded 2£ ounces per ton. The rocks which the veins traverse are composed of micaceous and talcose slates, belong¬ ing probably to the Silurian period. The veins are numerous, and are sometimes as much as three feet in thickness, containing a mixture of iron and sometimes of arsenical pyrites, with strings of quartz and spots of galena. The shafts in 1862 had been sunk to a depth of about 500 100 PARIS INI VERSA L EXPOSITION. feet, and the workings extend horizontally tor more than three-quarters of a mile. 1 The loregoing data show that the total yield of all these mines for tin* year 1866 was £19,050, or about $95,250. ROUMANIA. Some very coarse alluvial or placer gold was exhibited from this region lmt no information in detail of the extent of the deposits, or of the pro¬ duction, could be obtained. Gold is found in most of the rivers flowing from the Carpathian mountains in this Principality, but chiefly in the Olto, the Ardgeche, and their branches. These deposits were formerly worked by state slaves, and the proceeds belonged to the reigning prin¬ cesses. A very few persons are now engaged in washing on their own account. Vein gold is found in the mountains of Ardgeche, linear, Tergoviste, Bacau, Niamtzo, and of Suciara. The quartz veins of Pazra contain chalcopyrite, auriferous iron pyrites, and argentiferous galena. FRANCE. A gold-bearing vein was formerly worked at La Gardette in the depart¬ ment of the Isere, but it did not pay expenses and was abandoned in 1841, after having been worked at intervals since 1700. A small amount of alluvial gold is found in the sands of the Rhine, but the production is insignificant. According to M. Daubree, who made a report upon the gold deposits of the Rhine to the Academy of Sci¬ ences, 2 the production for the year 1846 was estimated at about $9,000, and the washers usually made from one and a half to two francs a day. Since that time the production from the Rhine has greatly decreased, being only 1,300 grams in 1853, and worth about 4,446 francs. The production from other sources, chiefly from auriferous galena, and the cinders and refuse of jewellers, has been increasing, as will be seen by the following statement, showing an average production of about $82,000 in value, annually. 3 Production of gold in France. Year. Weight. Value. Year. Weight. Value. 1853. Grams. 120,200 156,900 240,284 72, 663 75. 680 Francs. 411,944 538,000 823,045 247, 010 259, 696 1858... Grams. 95, 660 76, 600 Francs. 326,108 262,640 1854. 1859. 1855 . 1856 . Total. 837, 987 2,868,443 1857. : Kingdom of Italy, International Exhibition of 1862. -Compte Rendus, xxii,639; 1846. 3 Compiled from the official tables in the Resum6 des Travaux Statistiques for 1860. REPORT ON TBE PRECIOUS METALS. 101 GREAT BRITAIN AND IRELAND. The following notices of the auriferous localities of the United King¬ dom are condensed chiefly from the recently published work of Mr. Phillips. Gold has long been known to exist in Cornwall in small quantities in the stream gravel, with tin-stone, and in minute quantities in many of the copper gossans. In Wales there is a gold-bearing district about 25 miles square, and, according to Mr. Arthur Dean, there is a complete system of auriferous veins throughout the whole of the Snowdonian or Lower Silurian forma¬ tion of North Wales. Of ah the veins that have been worked in the neighborhood of Dolgehy, the Yigra and Clogau has been the most pro¬ ductive. This mine is about 1,000 feet above tide. The vein is nearly vertical, runs east and west, and is formed of quartz impregnated with sulphides of iron, lead, and copper. It sometimes shows free gold. The following table, exhibiting the returns from the various Welsh gold-mines from 1860 to 1864, the time of their greatest yield, was fur¬ nished to Mr. Phillips by Mr. Robert Hunt, keeper of mining records: Gold produced in Merionethshire. Mines. 1861. 1862. 1863. 1864. Oz. £. Oz. £. Oz. £. Oz. £. Yigra and Clogau. 2, 886 10, 816 5, 299 20, 390 526 1, 674 2, 331 3,434 Cefn Coch. 25 73 346 970 Castell Cam Dochan... 141 394 Prince of Wales. 63 166 Gwyn-fynydd. 6 17 The number of tons of quartz crushed in Wales, during the year 1865, is reported as 4,270, yielding 1,664 ounces of gold, about 0.39 ounce per ton. The total yield of gold in the North Wales district, up to April 1,1866, is estimated as follows: Ounces of gold. Old Dol-y-frwynog. 117 Prince of Wales. 63 Cwn Eisen. 176 Gwyn-fynydd. 6 Cefn Coch. r ... 478 Castell Carn Dochan. 182 Vigva and Clogau. 11, 778 12, 800 102 PARIS UNIVERSAL EXPOSITION. The volume of Mineral Statistics of the United Kingdom for 1SG(>, recently published, gives tin* following returns of M elsli gold tor 1800. Mines. Gold quartz. Gold. Vigru and Clogau ..... .............. Tons. ciot. lbs. 1,159 19 8 1,768 0 0 Oia. dtot.grs, 213 14 22 529 l 12 (’lmtrll (lam Doclian - . _ ... Total production for 1866 . 2,927 19 8 742 16 10 This added to the previous production gives a total of 13,542 ounces, the value of which may be estimated at about $243,000. In Scotland gold was formerly found at Lead Hills, and several hundred men were employed there during the reign of James V. 1 In Ireland, gold was discovered in 1790, in the county of Wicklow, at the base of Croghan-Kinshela. Washing continued for two years, but the results do not appear to have been satisfactory. One specimen weighed 22 ounces. The locality is now abandoned. CHINA. A table of localities of gold washings and mines in the Chinese empire, published in the recent work of Mr. R. Pumpelly, 2 shows that the gold regions are extensive, as there are numerous localities of the metal in no less than 14 out of the 18 provinces of the empire. The greatest number of washings are in the province of Sz’chuen, and along the branches of the Kwenlun mountain chain, which have a gen eral east and west trend, and penetrate far into central China, between the Wei river and the Sz’chuen boundary. They are numerous also at the base of the water shed, between Kweichau and Hunan, and through the centre of Shantung, from southwest to northeast. Most of the localities mentioned furnish coarse placer gold, and some of them are mentioned as rich, and as furnishing nuggets. Little or nothing is known, however, of the pro¬ duction of these washings, which may long since have been exhausted. The country has long been known to have extensive sources of gold, but it is said that the working of the mines has been discontinued by the Chinese government in accordance with some of their theories of finance. The extensive auriferous regions of the Altai and other mountain ranges of eastern Siberia are doubtless prolonged into Chinese Tartary, and con¬ nect with those of central and southern China. Unless the exhaustion ot these placers and veins has been greater than the imperfection of ancient methods of working allows us to suppose, this region, together with the Siberian, is now doubtless the greatest and richest gold-field which remains for exploration. 1 Pennant 8 Scotland, ii, p. 160, quoted by Phillips. - Geological Researches iu China, Mongolia, and Japan, during the years 1862 to 1865, by Raphael Pumpelly, Smithsonian Contributions; Washington, 1866. REPORT ON THE PRECIOUS METALS. 103 Mr. S. Wells Williams states 1 that gold is brought into China from Borneo and California as dust and in impure masses, (1854.) The import¬ ations at that date had reduced the relative values of gold and silver to the ratio of 1 to 14£. The exports of bullion (gold and silver) from California to China have steadily increased from $965,887 in value in 1854 to $6,527,287 in 1866, and to $9,031,504 in 1867. (Vide table, Chapter I.) Gold leaf or heavy foil is used in China in making payments not less than $40 to $50. Thin gold leaf is largely used there for gilding the wood- work of houses, and quantities were formerly exported to India. JAPAN. It was the reported richness of the empire of Japan in gold and silver which drew thither the early Portuguese and Dutch traders. All the early accounts of the country agree respecting the abundance of the precious metals, and they were fully sustained by the results of the Dutch trade. The annual average sales by the Dutch amounted to the value of 60 Dutch tons of gold, 3 and in one year they reached the amount of 80 tons, about $3,200,000. Among their exports were 1,400 chests of silver, (each containing 1,000 taels, 4 ) or near $2,000,000 in all. This constant drain of silver appears to have excited the alarm of the Japanese, and gold was partly substituted in trade, until at length the exportation of this metal was also restricted. Its value, relatively to silver, has always been less in Japan than in other countries, and this alone has led to a large export, and with great profits. In the two years, 1670 and 1671, more than one hundred thousand kobangs 5 ($1,100,000) were exported at a profit of a million florins, 6 ($400,000.) According to Arrai Tsikugo-no-Kami, a learned Japanese of rank, who published a tract on the u Origin of the Eiches of Japan” in 1708, 7 the amount of gold and silver exported from Nagasaki from 1611 to 1706 was as follows: Value. Gold, 6,192, 600 kobangs. $68,118,600 Silver, 12,1268, 700 taels. 157,176,180 Total. $225,294,780 1 Chinese Commercial Guide, 4tli edition, p. 175. • 2 Ibid. 3 A Dutch ton of gold was 100,000 florins or $40,000. See Hildreth’s “Japan as it is and was,” p. 208. 4 Hildreth, Ibid, 208. The tael, reckoning the picul at 133^ pounds avoirdupois, contains 583 grains troy. The tael is, therefore, worth about $1 40. Kaempfer considered it worth florins, which, at 40 cents to a florin, makes the value exactly $1 40. 5 The kobang is a gold coin, which, at that time, weighed 47 kanderins, or 274 grains troy, or 16 grains more than our eagle. It, however, contained only 224 grains of gold, worth, say, $11. Jt was purchased by the Dutch for six taels, or less, in silver. 6 Hildreth, Ibid, p. 209. 7 Ibid., 385, translated by Klaproth, Noveau Journal Asiatique, ii. 104 PA HIS UNIVERSAL EXPOSITION. Hildreth farther observes that the value of the export of the precious metals from Japan in the course of 200 years, from 1540 to 1740, must have been not less than $200,000,000. This disproportion between the value of gold in Japan and other countries existed at the time of the visit of Commodore Perry, and the first traders made large profits by the wholesale purchase and export of the gold kobangs. A letter from the United States consul general (Mr. Harris) at Simoda, in 1857, stated that the relative values of gold and silver in Japan were as one to three and one-seventh. To avoid the great drain of gold which followed the discovery of this disproportion in the relative value of these metals, the size and weight of the gold coins were further reduced by the Japanese government. Gold is largely used in Japan for gilding, for inlaying and overlaying metals, and for alloys with copper and silver of various colors and degrees 'of fineness. The first discovery of the metal in Japan is said by Sir Rutherford Alcoek to date from half a century later than the first coinage in 70S. 1 Before this time gold was imported from China. Arrai Tsikugo- no-Kami 2 is the authority for the statement that the first gold coins were struck by Taiko-Sama. It seems probable, however, that gold was known in the country long before. GOLD MINES OF YESSO AND SADO. One of the earliest reports of gold mines was made by Father Jerome de Angelis, who visited the island of Yessoin 1020, and sent home glowing accounts of its riches in gold-washings. The gold deposits of this large island were visited and surveyed in 1802 by the writer, together with Mr. Pumpelly, while in the service of flic Tycoon’s government. These gold mines are government property, and are worked on a limited scale. The gold region extends along the Kunui and Tusibets rivers, and in the range of mountains dividing Vol cano bay from the west coast. There are also deposits in the territory of the Prince, or Daimio, Matsmai, and probably in the northern portions and interior of the island, as yet but little known, even to the Japanese. The government works consist merely of washings, no veins having yet been found, and the annual product cannot exceed $25,000 at the highest estimate. The gold is in fine scales, and occurs in the gravel of the flats and bars along the streams, resting upon the bed-rock exactly as in other gold regions. The river drift is coarse and heavy, and the deposits are deep. The gold is also found in high terrace deposits on the hill¬ sides, where the drift is also very coarse and heavy and the gold coarser than in the river. In some of the fine placer gold from this region the writer found a very fine but heavy white sand, consisting of minute white zircons, similar to some found in the gold region of Xorth Caro¬ lina. Not only these deposits, but the best of the lower placers, have been worked over by miners of whom there does not appear to be any j Origin of the Riches of Japan, translated by Klaproth, Noveau Journal Asiatique, ii. -Three years in Japan, American edition, ii, p. 347. REPOET ON THE PRECIOUS METALS. 105 history, although some of the Japanese think that the work was done hy some of the former heads of the house of Matsmai, some 300 years ago. The trees standing in the old pits are at least of that age. To work these old placers, ditches were cut for many miles, exactly similar to those in use in California, and the deposits appear to have been very systematically and thoroughly washed. The present system of washing is by a kind of ground sluicing, aided by straw mats, upon which the pay gravel is drawn by the workman with a hoe, and the current washes off the lighter sand and gravel, leaving the gold upon the mat. No board sluices, toms, or quicksilver were used, and these American adjuncts of placer mining were introduced there for the first time in 1862. There are no doubt gold-bearing veins at the head-waters of the streams, but the dense growth of the cane, or dwarf bamboo, of the country rendered explorations, without cutting roads, almost impossible. Gold also occurs in other parts of the empire of Japan, but it is diffi¬ cult to obtain any precise or satisfactory information about the localities. On the islands of Sado, off the northwest coast, there are extensive mines upon a large vein of mixed silver and gold ore, very closely resembling the best of the ore from the Comstock vein, Nevada. This locality has evidently furnished a large amount of the precious metals, but the facts regarding it are very jealously guarded by the Japanese. Some of the placer gold of Japan was represented in the miscellaneous collection of Japanese minerals at the Exposition. COCHIN-CHINA, INDIA, AND OTHER COUNTRIES IN ASIA. Gold is reported to exist in the sands of the rivers of Cochin-China, and to be extremely pure, but the working of the mines was formerly prohibited. THIBET. Gold exists in Thibet, but the mines are the exclusive property of the government. The total production was estimated by Jacob, ip 1831, at certainly not over 10,000 ounces annually. INDIA. Over 12,000 persons are said to have formerly been engaged in gold washing in Assam, and the production amounted to 30,000 ounces annu¬ ally. A mine called Pakergusi, at the junction of the Brahmapootra with the Dontriri, is said to have been worked for a short time each year, and 1,000 men were employed. 1 Gold has been procured from the coast of Malabar, and in the country to the west and southwest of the Neel- ghery mountains. According to Mr. Baber, who gave evidence on the sub¬ ject before the British House of Commons, the auriferous district extends over 2,000 square miles. It was but slightly worked, and only by- slaves. CEYLON, SUMATRA, BORNEO. Ceylon is said to have formerly yielded considerable gold, but in 1830 the production had ceased. In Sumatra gold is not only found in the 1 Jacob, ii, p. 330, 106 PARIS UNIVERSAL EXPOSITION. streams, but in veins in the mountains of Monaugkabo. Jacob (1831) states that the several districts of the island were reported to produce about 13,000 ounces of gold, 19 carats tine. Most ot this was used for ornamental purposes, ehietly for gilding. In Borneo an abundance of gold has long been known to exist. It was obtained ehietly by Chinese and natives, from placer deposits, in a dis¬ trict between Samboss and Pontiana. The number of Chinese so employed was estimated at about 9,000 previous to 1831. The production from that district was estimated at over 88,000 ounces annually, and from the whole island at 120,000 ounces. According to Kloos 1 the metal is spread in greater or less quantity over the whole island. Upon the borders of the river Kapoea placer gold is found associated with iron ores, sulpliuret of antimony, and diamonds. Near Boedoek gold-bearing quartz veins traverse argillaceous schist. The metal is associated with pyrites and with tellurium. A vein of such ore, nearly vertical, and over six feet thick is worked near Montrado. Gold is also found at Kattoe-Koladi, in a clay filling the cavities of lime¬ stone. At Janali-Laute the gold is associated (in a placer) with platinum and osmiridium. CELEBES AND THE PHILIPPINE ISLANDS. Gold is found in the beds of the rivers of Celebes, and formerly 10,000 ounces were produced each year. The Philippine islands formerly yielded about 15,000 ounces of gold annually. Jacob, from whose work most of the foregoing notes upon the produc¬ tion of gold in the East Indies are taken, estimated (1831) the total an¬ nual production of Asia, including China and Japan, at not over 380,000 ounces of gold and 2G0,000 ounces of silver, and valued it at about £1,300,000 sterling. In the 20 years from 1810 to 1829 the treasure, chiefly gold, sent from Europe to India amounted to £7,314,388 sterling. AFRICA. According to Russegger, who travelled through Nubia in 1838, the mountain chain which stretches across the interior of Africa from east- nortlieast to west-southwest, and the streams which flow from it, are auriferous. In Sennaar and southern Abyssinia gold occurs in placer deposits and in quartz veins traversing granite, gneiss, and chloritic slates. The mines of Bambouk, south of the Senegal, are considered as the most important of Africa, and are the source of the greater portion of the gold which reaches the coast. Another gold district is at Kordofan, on the upper Nile, between Darfour and Abyssinia. Gold is also collected in small quantities opposite Madagascar. Jacob states that there is no 1 Berg uud Iluttenru. Zeitung, 1865, p.283, noticed by Delesse, Annales des Mines, vol. x, 1866, p. 594. REPORT ON THE PRECIOUS METALS. 107 way in wliicli an accurate estimate can be formed of the gold produced in Africa, and at that time he regarded the accounts furnished by the late African Company as the best available information. These included statements of the gold taken to England by ships of war, which conveyed the largest portion, on account of the greater security and lower rates of insurance. From this source it appears that the whole quantity so imported from the year 1808 to 1818, inclusive, amounted to 81,905 ounces. Of this, 51,569 ounces were valued at £205,344, and in the following four years of peace 30,569 ounces, valued at £125,380. 1 The existence of an extensive gold field in South Africa has recently been announced. It is said to be in the Moselikatze country, about 700 miles from Durbau, the port of Natal. Birkmyre estimates the annual production of gold in Africa at 4,000 pounds. Dusgate places it at 3,744 pounds. 2 If we accept the former estimate, and consider the gold worth between $18 and $19 per ounce, the value of the production is about $900,000 annually. EfiSUMfi OF THE TOTAL PRODUCTION OF GOLD IN THE YEAR 1867. The value of the present total production of gold is shown approxi¬ mately by the following tabular statement. The statistics of the princi¬ pal gold-producing regions have been obtained up to 1867. Those from California and other portions of the United States include the returns to 1868. In many cases where the returns from several countries could not be obtained up to 1867, the average production at the date of the latest returns has been taken as the basis of an estimate of the produc¬ tion at the present time. Thus, no returns of the production of New Zealand have been received for the years since 1864, and its yield for 1867 is estimated at $6,000,000. In respect to the colony of New South Wales, noticed on page 87, some later returns have been received, and they appear to give the exports of uncoined gold, while the table on page 87 includes the shipments of coin. The last received table is annexed, and has been used as the basis of estimate of the yield of the colony for 1867: Exports from New South Wales to 1867. Year. Exporta¬ tion. Year. Exporta¬ tion. Year. Exporta¬ tion. Year. Exporta¬ tion. 1851. Ounces. 161,880 199, 500 173, 960 148, 900 1855. Ounces. 107, 250 134, 950 148,126 255, 535 1859 Ounces. 293,574 355, 328 403,139 584, 219 1863 Ounces. 422, 722 314, 351 279,121 235, 893 1852.... 1856. iRfin 1864 1853. 1857. 1861 1865 1854. ] 858. 1866 — 1 Jacob on Precious Metals, ii, 326. 2 Cited by Phillips, p. 28. IDS PARIS UNIVERSAL EXPOSITION. In tin* following t;il>lt* it appears that the total ^ohl product of the world, tor the year 1SU7. was approximately slot),(ISO.000. The last column shows the ratio of the production of each country to the total production. Thus, the Tinted States produced nearly 43 per cent., Aus¬ tralia l\*». 7S percent, and Russia 11 percent, of the whole. Approximate .statement of the value of the production of paid in the prin¬ cipal gold-producing countries , (1807.) Countries. Value of production. Totals. Ratio percent. NORTH AMERICA. United States.— California . $25, 000, 000 Nevada . 6, 000, 000 Oregon and Washington. 3, 000, 000 Idaho.. 5, 000, 000 Montana. 12, 000, 000 Arizona. 500, 000 New Mexico. 300, 000 Colorado. 2, 000, 000 Utah, Appalachians, and other sources, (estimated) ... 2, 700, 000 — $56, 500, 000 43.23 British Possessions. — British Columbia, (estimated for 186?) . 2, 000, 000 Canada and Nova Scotia, ($551,660) . 560, 000 — 2, 560, 000 1.96 Mexico, (estimated) . 1, 000, 000 1,000, 000 .76 CENTRAL AMERICA, SOUTH AMERICA, AUSTRALIA, AND NEW ZEALAND. South America. — Brazil, (estimate, based partly on returns for 1866) _ 1, 000, 000 Chili, (estimated, in part) . 500, 000 Bolivia, (estimated 1,600 lbs. troy,) about . 300, 000 Peru, (estimated ‘2,400 lbs. troy,) about . 500, 000 Central America. — Venezuela, New Grenada, Central America, Cuba and San Domingo, (estimated) . 3, 000, 000 5, 300, 000 4.05 TRALIA.— Victoria, (1,392,336 ozs. in 1867) . 26,510, 000 New South Wales, (estimate based on reported production of 235,893 ozs. in 1866) . 4, 500, 000 South Australia, (estimate based on returns for 1860) . 140, 000 Queensland, (I860,) about . 400, 000 31,550, 000 24.14 New Zealand.— (1864, $9,000,000. Estimated for 1867). 6, 000, 000 4.59 EUROPE, ASIA, AFRICA. Russia, (estimate based on average of 4 vears, 1859 to 1864). 15, 500, 000 11.87 Austria. (1865). i 17 6 ; non Spain, (estimated). 8, 000 Italv, (lt-66). 95 000 France. 1 (in 1846 about $9,000) . 80, 000 Great Britain, (about). 12, 0 0 Africa, (estimated). 900, 000 2, 270, 000 1.74 Borneo and East Indies, (estimated). ^ non non 3.83 China. Japan. Central Asia, Roumania, and other unenumerated sources, (estimated) .... 3.83 inn (V) Total. --—--- 1 In part from jewellers’ sweepings and refuse materials. SILVER CHAPTBE IV. SILVER REGIONS OF THE UNITED STATES. State of Nevada—Extent of the Silver Region and Total Bullion Product— Principal Districts—Comstock Lode—List of Claims—Machinery—Cost of Materials—Expenses and Products of the Gould and Curry Mine—Average Yield of Ores—Production of Bullion—Reese River Region—Production of Mines—Eastern Nevada and Districts—Cortez District—Nye County— Esmeralda County—Tabular Statement of the Results of the Assays of Ores sent to the Paris Exhibition—California Silver Districts—Idaho— Colorado—Arizona and New Mexico—Atlantic Portion of the United States, and Lake Superior. STATE OF NEVADA. The State of Nevada has an area of nearly 100,000 square miles, extending from longitude 37° to 43° west from Washington, and between the parallels of 37° and 43° north. The presence of veins of silver throughout this vast territory was comparatively unknown eight years ago, when, in 1859, the Comstock vein was discovered. The region was then regarded as an irredeemable wilderness, a land of deserts and death, over which the early pioneers had passed as rapidly as possible in the tide of emigration to the gold regions of California. The scene has changed. Nevada, from a comparatively unknown portion of Utah, became first a Territory and then a State in the Union. It has now a large population, and its principal centres are Virginia City, Austin, Carson, Aurora, and Dayton. The valleys and deserts resound with the shrill whistle of engines and the falling of stamps. The little valleys are brought into cultivation; graded roads are made over appar¬ ently impassable mountains; mails arrive and depart daily, and the telegraph connects the business centres with those on the Pacific and the Atlantic. All this has resulted chiefly from the discovery of the cele¬ brated Comstock lode, which has already added nearly $80,000,000 in value to the bullion of the world. From the Comstock the explorations extended in all directions, and resulted in the discovery of gold and silver-bearing veins in most of the principal mountain ranges that traverse the Great Basin in a general north and south direction. First, the metal was traced southward to Esmeralda, Mono, Coso, Walker’s river, Owens river, and Slate range, near the southern end of the Sierra Nevada. Eastward, the Humboldt mines, Reese river, Goose creek, Egan canon, and Utah mines, were reached in succession, and the discoveries have been extended eastward 110 PARIS UNIVERSAL EXPOSITION. to tin* ranges of tin* ltocky mountains, whore tin* prospectors mot those of Colorado. Northward, in connection with tin* gold prospectors of Oregon, the precious metals were traced into Idaho, Montana, and Brit¬ ish Columbia, and southward, veins have been discovered along the ranges reaching into Arizona, extending the silver region to Sonora, thus connecting the whole with the great metalliferous belt of the Mexican plateau; and with the discoveries at the extreme north, proving a con¬ tinuous zone of mineral wealth through North America, from Panama to the Arctic sea. The excitement incident to the discovery and developments upon the Comstock was intense, and claims were located by thousands in all direc¬ tions. As veins were discovered at a distance new districts were organ¬ ized by the miners, each with their separate records, laws, and regula¬ tions, according to which locations were made and the claims worked. Veins bearing the precious metals have since been traced in nearly every part of the State, and it is difficult to enumerate even the districts that have been organized, and in which claims of greater or less value have been located. Nevada has become the great silver region of the world, and gives promise of an enormous production of the metal for a long time in the future. TOTAL BULLION PRODUCT OF NEVADA. It is difficult to obtain exact statistics of the total bullion product of the State, as the shipments from Austin, Aurora, and other points, are not reported at the end of each year as at the express offices at Virginia and Gold Hill. The lteese river region has generally been considered as producing about $1,000,000 per annum, and ore and bullion are now begin¬ ning to be received from the southern districts. The following figures are believed to present a close approximation to the annual and total yield of the State up to January 1, 1868. The greater part of this amount was obtained from the Comstock lode: 1850 . $50, 000 1860 . 300, 000 1861 .. 2,300,000 1862 . 6, 500, 000 1863 . 12, 500,000 1864 . 16, 000,000 1865 . 16, 800,000 I860 . 16, 500,000 18 07 . 18, 500,000 Total. $89, 450, 000 The ores from many of the principal districts were exhibited in the Exposition in the collections sent from California. Tin* principal claims upon the Comstock were so represented, and in no other way. The REPORT ON THE PRECIOUS METALS. Ill eastern portion of the State, including the mines about Austin and some districts south of it, were represented by a magnificent collection of their richest ores in large masses, under the superintendence of David E. Buel, esq. These ores weighed in the aggregate several tons, and were contributed by various mine owners to an executive committee for the representation. 1 2 3 4 5 * 7 Although they reached Paris at a late date (in July,) their value and importance was such as to gain them a place in the Expo¬ sition and a recognition by the Imperial Commission in the form of a silver medal. The following brief notices of the principal mineral districts of the State have been compiled chiefly from the writer’s notes and the statistical publications mentioned below, 2-7 to which reference may be made for further details. STOREY COUNTY. Virginia district—Comstock lode. —The first quartz claim was located in the Virginia mining district on the 22d of February, 1858, by James Finney, generally known as “Old Virginia,” from whom the city of Vir¬ ginia and the croppings have taken their name. In June, 1859, two men, while washing for gold below these croppings, made an excavation to hold water upon the hill-side, and uncovered rich silver ore upon the ground now belonging to the Ophir Company. A man named Comstock was employed to purchase the claim, and thus his name has been given to the vein. As soon as the true nature of this ore was ascertained, miners flocked into the Territory, and claims were located upon the sup¬ posed course of the vein for a distance of about six miles. The subsequent developments have shown this vein to be one of the largest and richest ever discovered, ranking with the celebrated Veta Madre of Guanajuato, and the Veta Grande of Zacatecas, Mexico. It is evidently what is termed a true fissure vein, and may be followed to a depth which will be limited by the costs of mining rather than by the absence of vein. The elevation of this vein above the sea is about 6,000 feet, and it 1 This committee was composed of the following named gentlemen: Messrs. M. J. Good- fellow, B. J. Burns, E. A. Sherman, J. R. Murphy, W. F. Leon, W. H. Clark; and they were charged with the duty of preparing a “ Descriptive Report to accompany the representa¬ tion of Eastern Nevada at the Paris Exposition of the world’s products.” 2 La Nevada Orientale, GSographie Ressources, Climat et Etat Social; Rapport addresse au Comit6 local pour l’Exposition de Paris, par Myron Angel. Paris: Juillet, 1867. [Dis¬ tributed at the Exposition by David E. Buel, esq. ] 3 Annual Report of the State Mineralogist of the State of Nevada for 1866, addressed to the honorable the Board of Regents of the State, by R. H. Stretch, State Mineralogist. 4 Langley’s Pacific Coast Business Directory. 8vo; San Francisco, California: 1867. 5 Nevada Territorial Directory. 1863. b Review of the Mining, Agricultural, and Commercial Interests of the Pacific States for the year 1866. Compiled by J. H. Carmany. San Francisco: H. H. Bancroft & Company. 1867; 8vo. 7 Annual Report of the Surveyor General of the State of Nevada for the year 1865. 112 PARIS UNIVERSAL EXPOSITION. comes to the surface on the eastern slope of a porpliyritic mountain, which has been named Mount Davidson. 1 Its course or direction is nearly north and south, and its general dip or inclination is towards the east. In width it varies from a mere seam to over -00 feet, and it is often broken up into several parallel branches which include large masses of the “ country” rocks. It is remarkable for its large selvages ot clay, tilled with broken portions of the vein and walls, much worn and rounded by the attrition to which they have been subjected by the movement ot the adjoining surfaces. Only the harder, and, in general, the more barren parts of the vein show upon the surface as “ croppings.” These present an irregular, brecciated appearance, have a brown color, and afforded free gold to the first miners in some places. Some of the richest bunches of ore below are found to the eastward of the heaviest croppings, and, in general, the richest ore is quite soft and granular, being broken up so as to resemble crushed sugar or salt. A mass of quartz of this kind, over 30 feet wide, in the Ophir mine, in 1801, was found to be impregnated with sulphide of silver, stephanite, and native silver and gold. A harder stratum or layer of the vein contained galena, blende, and iron pyrites. Excavations along the line of the vein have extended by shafts to a depth of 700 to 800 feet. Several long tunnels have been run to drain the vein, the principal one being the Latrobe, commenced in 1801, and now about 3,200 feet long, which drains the mines at the north end of the lode to a depth of about 000 feet. A new tunnel, to be 20,278 feet long, and to drain the lode to a depth of 2,000 feet, is projected by Mr. A. Sutro. It is estimated that this work will occupy three or four years for its construction, and cost, about $2,000,000. The principal mining upon this vein is at Gold Hill and Virginia City, within a linear distance upon The vein of less than 8,000 feet, but explor¬ ations have been made over a length of about four miles and the exist¬ ence of the vein proved. The following tabular statement gives the names of the different claims upon the line of the vein, in the order of their succession from the north southward, with the length of each in feet, tin* depth to which they have been worked, and other data: 2 1 After Donald Davidson, esq., of San Francisco, one of the first to ascend it. - This table is extracted rrom the report of Mr. R. H. Stretch, Nevada State Mineralogist; 1866 . REPORT ON THE PRECIOUS METALS. 113 I Table of mining claims on the Comstock lode. Name. Length of claim in feet. Length explored in feet. Per cent, of claim ex¬ plored. Depth of lowest workings. Height of top of shaft above proposed Sutro tunnel. Remarks. TT+oli . 1,000 300 30 260 Engine removed ; not working. 925 300 32 200 Not working. Sierra Nevada. 1, 959 400 25 650 1,796 TT_-_ 500 5 1 80 Explored by tunnel; not working. Ophir, north mine. 1,200 400 33? ) Mexican. 100 100 100 > 549 1,887 Explored through Ophir and Mexi- Ophir, south mine. 200 200 100 ) can shaft. Central. 150 150 100 620 1,898 300 300 100 428 Explored by tunnel and winzes. 100 100 100 369 Explored by whim on White &. 50 5 10 369 > Murphy claim, and by the La- White and Murphy. 210 210 100 369 1, 954 ' trobe tunnel; not working. Sides. 500 200 40 500 1, 955 Not working. Best & Belcher. 250 250 100 469 1,954 Not working; engine removed. Gould & Curry. 1,200 921 100 900 1,800 Savage, old shaft. 771 771 100 614 1,954 Savage, Curtis shaft. 448 1,787 Hale & Norcross. 400 400 100 783 1,963 Chollar-Potosi. 1,434 700 50 923 1,832 Bullion. 940 450 47 800 1,913 Exchequer. 400 100 540 1,819 Alpha..'... 278? 278? 100 680 1,800 3H 31? 100 Imperial, (Alta). 118 118 100 1,761 Bacon. 45 45 100 Empire, north mine . 55 55 100 1, 763 Eclipse ... 30 30 100 1, 761 French . 20 20 100 Empire, south mine. 20 20 100 Plato. 10 10 100 Bowers. 20 20 100 > Average depth of workings 650 feet. Piute. 20 20 100 [1866. | Winters & Kustel. 30 30 100 Consolidated. 21 21 100 Rice Ground.. 13) 131 100 Imperial, (H. & L.). 65f 65§ 100 Challenge. 50 50 100 1, 734 Confidence . 130 130 100 1, 725 Burke & Hamilton. 40 40 100 Yellow Jacket. 943 943 100 560 1,567 Ken tuck. . 93§ 93? 100 460 1,543 Crown Point.... 540 540 100 400 1,517 Belcher_ 940 940 100 850 1,585 ■Segregated Belcher. 160 160 100 500 1,570 Overman .. 1,200 700 60 711 1,606 North American. 2, 000 300 1,620 Baltimore American. 2, 000 500 25 300 Not working. Most of these claims are worked by incorporated companies with capi¬ tal furnished from California. The engines, machinery and supplies are freighted over the Sierra Nevada at a heavy cost, now being rapidly lessened as the Pacific railroad is pushed forward. 8.G- 114 PARIS UNIVERSAL EXPOSITION. Tlu* above enumerated companies had excavated, before 18G6, about 28 miles of tunnels and drifts, and about five and three-quarters miles of shafts, winzes, and inclines, exclusive of stopes. The dead work of one mint* alone, the Gould & Curry, was in 1805 about 12,750 lineal feet of shafts and tunnels. 1 The following table shows the number and power of the hoisting and pumping engines at work on the lode in I860: 2 Pumping and hoisting engines on the Comstock lode. Company. Hoisting en¬ gines. Pumping en¬ gines. Pumping aud hoisting en¬ gines. Number. Horse power. 1 Number. Horse power. Number. Horse power. | A lion . ... 1 30 Sierra Nevada....... i 60 i 200 Ophir, (Mexican).... i 60 i 200 Central. .................. 1 Sides.... 1 50 Gould & Curry_.___ o 60 i 150 Savage, (old shaft)..... 1 60 Savage, (new shaft)...... 3 60 i 300 Hale &. Norcross..... 1 Potosi.... 1 Chollar-Potosi. 1 i Bullion .......... 2 Exchequer. 1 60 Alpha.-. 1 Imperial. 1 Empire.. ......... 2 30 Eclipse. 2 30 Winters &. Kustel, consolidated. 2 20 Challenge. 1 35 Confidence. 1 25 Yellow Jacket. 2 Kentuck . 1 Belcher. 2 Segregated Belcher. 2 60 Overman &. Sam........ 2 30 2 40 North American. i Baltimore American. i There are 70 mills, or reduction establishments, supplied by ores from the Comstock lode. These are scattered through Storey, Lyon, Ormsby, and Washoe counties. For details, reference is made to the annexed table of quartz mills in the State. The value of the mills and machinery of Storey county alone is estimated at $3,500,000. The mills are expected to return in bullion 65 per cent, of the assay value of the pulp, which is about the average working result. There is thus a loss of 35 per cent., or about $8,000,000 annually. The cost of 1 Report of S. H. Marlette, surveyor general. 2 Report of State mineralogist, 1866. REPORT ON THE PRECIOUS METALS. 115 working ordinary ores is from $12 to $15 per ton. A few years ago $20 and $25 per ton were paid for working. One chief element of this great expense of reduction is the cost of fuel, which is scarce in the region and commands from $15 to $20 per cord. A dwarf pine, the pinon, is chiefly used and is hauled a distance of 10 or 12 miles. The annual con¬ sumption of fire wood is estimated at 144,000 cords, and is valued at nearly $2,000,000. The lumber is brought from the Sierra Nevada, some 12 miles distant, where the supply is practically inexhaustible. The annual consumption is estimated at 35,000,000 feet hoard measure, worth about $1,400,000, one-half of which is for freight. Water for the mills on the lode, and for the cities of Virginia and Gold Hill, is obtained chiefly from tunnels run into the side of the mountains above, where a large and porous quartz vein, comparatively free from ores, (the Santa Rita) gives an unfailing supply. Considerable water is also obtained from the Ophir mine and other deep shafts, and from the Latrobe tunnel. The details of the costs of mining and of working silver ores have great practical importance, and I have, therefore, devoted considerable space to their presentation, particularly as the well arranged reports of Mr. Janin, Mr. Bonner, and other superintendents afford such rich and reliable materials. In the report of the Gould & Gurry Silver Mining Company for 1865 a comparative statement of the product of the mine for the years 1862, 1863,1864, and 1865, shows the average value of the ores that were worked, the costs of mining and of reduction at the mill belonging to the company and at custom mills. The statement is as follows: Comparative statement of the product of the Gould & Curry mine for the years 1862, 1863, 1864, and 1865. Year. Tons produced. 1st class. 2d class. 3d class. Average value of ores worked. Cost of niining. Cost of work¬ ing at G. & C. mill. Cost of work¬ ing at cus¬ tom mills. 1862.... 1863.... 1864 .... 1865 .... 8, 4421 48,743* 64, 433 47,217 *15* *24* *10* 1* 8, 427 43, 907 55, 602 46, 745 t$104 50 80 44 73 48 45 41 $12 54 12 64 12 00 10 84 $38 55 22 30 26 00 20 36 4,812 8,821 470 $38 00 40 00 12 93 * Shipped to England. t Third class ore. It is observed that the proportion of profit increases with the richness and decreases with the poverty of the ores; thus ore yielding $75 per ton gives more than twice as much profit as $45-ore, although not twice as rich. The costs of working mines and ores in this region are well elucidated fly the following tabular statements of the quantity and cost of materials used at the Gould & Curry mine and mill during the year 1866. 1 1 Report State Mineralogist Nevada, p. 91. i it; PAKIS I'XiVEHSAL EXPOSITION. ('nst of materials for irorkimj mines and ores in i\ erada. Articles. Lumber.feet.. Shingles. Charcoal.bushels. Iron.poundi Gas pipe.do .. Castings.do ... Steel . do Nails. do .. Zinc.do Packing Rope ... Hose.... .do .do Salt. .do Linseed.do.. Quicksilver..flasks. Cut bolts.pounds Screens.do Axes and handles. Picks. Shovels. Feed.sacks. Hav.bales. Axle grease. Copper rivets.pounds Tallow.do .. Alcohol. gallons Brooms. ()nkum.pounds. Sledge handles. Lamp chimneys. Hoes. White and red lead. Blankets. Leather . Stone coal. Water. Sundries. Total. * Per thousand feet. t Per ton. Quantity. Cost. Average price. 11, 442 $168,830 00 $14 78 17Q, 837 3, 725 00 * 42 40 21,500 185 00 8 60 5, 848 1,659 00 28 12,639 1, 698 00 131 •150 238 00 571 395, 099 33, 880 00 81 £53 175 00 20 1,253 315 00 25 178 142 00 80 262 120 00 46 3, 832 417 00 11 172 42 00 25 25 72 00 3 00 2, 888 2, 192 00 14 t o 14 72 494 497 00 42 40 393 96 00 25 136 97 00 87, 353 17, 588 00 20 345, 668 10, 943 00 03 1,360 2,487 00 1 83 985 1, 615 00 1 64 40 99 00 2 47 675 35, 013 00 51 89 923 214 00 23 743 633 00 $1 to 75 2, 980 819 00 271 7J 67 00 42 20 00 50 239 231 00 1 39 487 2, 087 00 196 1, 120 00 116 58 00 50 280 280 CO 1 00 10, 863 1,361 00 124 15 60 00 4 00 189 147 00 77 126 46 00 32 157 77 00 5o 531 174 00 32 76 71 00 1 00 1,241 242 00 20 43 347 00 8 CO 575 246 00 421 9, 751 714 00 t150 00 fi mm nn 3, 833 00 $301, 927 00 lilt* consumption and cost of these materials at the mine and mill were distributed as shown by the following valuable detailed statements from tin' Annual Report ol the superintendent and secretary of the company. The succeeding tables show the quantity and value of ore amalgamated and the \ahm ot bullion produced, with the cost of production per ton ot ore Gould & Curry mine operations and expenses. [From the Annual Report of the Gould & Curry Silver Mining Company; Louis Janin, jr., superintendent; David Bowie, secretary.! Months. 1865. December. 1866. January.. February . M arch. April. May. June. July. August. September. October. November. Total. Average per ton • Officials. Extracting ore. Prospecting and dead work. Accessory work. Improve¬ ments. Total. Ore produced. Ore shipped. Tons. 1 Pounds. Cost per ton. Tons. Pounds. $1,216 00 $19,833 41 $9, 396 77 $10,824 67 $6, 743 45 $48,014 30 5, 886 1,500 $8 15 6, 656 1,670 1,221 00 20,919 21 10, 290 19 10, 210 58 3, 162 08 45,797 06 6, 108 7 50 5, 979 1, 690 1, 158 00 15, 032 35 10, 946 94 8, 344 92 3,180 75 38, 662 96 4, 940 503 7 82 5, 188 500 1, 035 00 15, 870 69 13,696 93 8, 622 14 2, 644 00 41,868 76 5,141 1,000 8 14 5, 355 1, 550 1, 055 CO 16, 108 48 13, 205 65 9, 378 33 2,108 77 41,856 23 5,167 8 10 4,816 1,940 1, 081 00 15,284 85 11, 094 56 8, 927 74 2, 037 47 38, 425 62 4, 662 8 24 5, 059 1,235 1,080 00 13,412 17 10,095 61 9, 264 90 2, 486 87 36, 339 55 4,126 500 8 80 3, 831 1, 580 1, 101 00 11, 779 78 12, 384 43 6, 725 66 4, 054 48 36, 045 35 3, 940 9 15 4, 064 1,101 00 15, 533 69 12, 244 01 9,914 34 1, 768 49 40, 561 53 5, 348 7 58 5, 019 1,060 00 15,582 15 12, 676 88 9,315 36 2, 462 07 41, 096 46 5, 951 6 90 5, 408 1, 086 00 18,217 02 7, 525 93 11,616 11 3,884 93 42, 329 99 5, 703 929 7 42 5, 783 350 1, 060 00 16,254 92 8, 139 19 10,701 71 3, 968 89 40,124 71 5,450 1,500 7 36 4, 761 1,414 $13,254 00 $193, 822 72 $131, 697 09 . $113,846 46 $38, 502 25 $491, 122 52 62, 424 1,929 61,924 1,929 $0 21 $3 10 $2 11 $1 82 $0 62 $7 86 REPORT ON THE PRECIOUS METALS. 118 PARIS UNIVERSAL EXPOSITION Detailed statement of east at the Gould cl' ('urn/ Description. 1865. 1866. December. January. February. March. April. Officers, general labor, watchmen, team¬ sters, &c. DRIVING POWER. Labor. Wood. Sundries. Total. PREPARING ORE FOR BATTERIES. Labor. $2, 416 88 $2,414 75 $2, 399 88 $2, 212 62 §2,291 50 §1,834 25 14,219 00 494 00 $1,872 25 13, 620 00 442 00 $1,677 25 11, 579 00 291 00 $1, 813 37 15,619 00 480 00 §1, 654 50 13, 329 00 523 00 $16, 547 25 $15,934 25 §13 547 25 $17, 912 37 $15,506 50 $1, 648 12 §1, 552 25 $1,466 25 $1,077 74 521 00 $1,289 25 271 00 Total. BATTERIES. Labor. Castings. Sundries. Total. AMALGAMATING. Labor. Retort wood. Castings. Salt. Sulphate of copper. Quicksilver. Sundries. Total. REPAIRS. Labor. Sundries. Total. TOTAL COST. Labor. Material.. Hauling ore from mine. Grand total. $1, 648 12 $1, 552 25 $1,466 25 $2. 198 74 $1,560 25 $2, 570 00 1, 073 00 331 00 $2, 470 00 811 00 227 00 $2,344 50 536 00 339 00 $2, 502 00 969 00 302 00 $2,241 88 787 00 396 00 §3,974 00 §3, 508 00 $3, 219 50 $3, 773 00 $3,424 88 $2, 654 88 200 00 2, 253 00 1, 043 00 1,948 00 2, 850 00 398 00 $2, 558 75 219 00 1, 933 00 1,131 00 2,138 00 3, 000 00 362 00 $2, 526 25 160 00 1, 106 00 1, 121 00 2, 572 00 2,964 00 349 00 §2, 687 25 320 00 2, 945 00 1,181 00 2, 863 00 2, 754 00 376 00 §2, 477 00 232 00 2, 332 00 617 00 1,217 00 2, 649 00 390 00 $11, 346 88 . $11,341 75 $10, 798 25 $13,126 25 $9, 914 00 $2, 539 12 2,901 00 $2,804 75 2, 295 00 $2, 751 75 1, 912 00 §2, 677 61 3, 173 00 $2, 843 75 2, 286 00 $5,440 12 $5, 099 75 §4, 063 75 - W $5, 850 61 $5,129 75 $13, 693 25 27, 710 00 3, 010 29 §13. 702 75 26, 178 00 2,744 10 $13, 165 88 22, 929 00 3, 093 07 $13, 570 59 31,503 00 3,299 58 $12, 797 88 25,029 00 3,157 38 $44,413 54 §42, 624 85 $39, 3 87 95 $48,373 17 $40, 984 26 1 From the Annual Report of the Gould & Curry Silver Mining Company; REPORT ON THE PRECIOUS METALS. 119 mill for the year ending November 30, I860. 1 1866. May. June. July. August. September. October. November. Total. $2,559 25 $2, 778 50 $2, 495 25 $2, 575 50 $2, 352 00 $2, 315 25 $1, 969 75 $28,841 13 $1,714 25 17,630 00 388 00 $1, 688 25 12, 481 00 517 00 $1,645 12 11,959 00 485 00 $1, 703 00 11,774 00 376 00 $1, 648 75 11,370 00 394 00 $1, 707 00 13, 268 00 341 00 $1,616 50 14, 010 00 321 00 $20, 574 49 160, 858 00 5, 052 00 $19, 732 25 $14. 686 25 $14,089 12 $13,853 00 $13, 412 75 $15, 316 00 $15, 947 50 $186,484 49 $1,279 62 36 00 $1, 274 25 67 00 $1, 328 00 70 00 $1, 278 75 111 00 $1,378 00 66 00 $1, 256 00 69 00 $1, 282 25 139 00 $16,710 48 1, 350 00 $1,315 62 $1,341 25 $1, 398 00 $1, 389 75 $1,444 00 $1, 325 00 $1, 421 25 $18, 060 48 $2,138 00 370 00 407 00 $1, 933 12 464 00 316 00 $2,117 25 839 00 424 00 $2,148 37 563 00 326 00 $2,106 00 836 00 373 00 $2, 037 00 463 00 381 00 $2, 069 87 723 00 379 00 $26, 677 99 8,434 00 4,201 00 $2,915 00 $2,713 12 $.3, 380 25 $3, 037 37 $3, 315 00 $2,881 00 $3,171 87 $39, 312 99 $2,517 00 232 00 1, 468 00 701.00 1,518 00 3, 605 00 357 00 $2, 238 75 264 00 910 00 517 00 1,159 00 2, 777 00 321 00 $2, 664 75 $2, 794 50 192 00 1, 600 00 1,079 00 995 00 3, 629 00 310 00 $2, 730 50 $2, 493 37 62 00 1, 388 00 710 00 527 00 2, 082 00 365 00 $2,714 00 $31, 057 00 1, 881 00 24,001 00 10,943 00 17, 588 00 35,013 00 4,414 00 3, 288 00 557 00 966 CO 2, 983 00 478 00 2, 482 00 1, 168 00 916 00 3, 056 00 317 00 2, 296 00 1,118 00 769 00 2,664 00 391 00 |10, 398 00 $8,186 75 $10, 936 75 $10, 599 50 $10,669 50 $7, 627 37 $9, 952 00 $124, 897 00 $2,807 50 2, 825 00 $2, 779 62 1, 896 00 $2, 604 37 1, 895 00 $2, 985 87 2, 359 00 $2, 713 37 1, 756 00 $3, 068 62 2, 259 00 $3, 427 37 2, 459 00 $34, 003 70 28,016 00 $5, 632 50 $4, 675 62 $4, 499 37 $5, 344 87 $4, 469 37 $5, 327 62 $5, 886 37 $62,019 70 $13, 015 62 29, 537 00 3, 365 56 $12, 692 49 21, 689 00 2, 691 32 $12, 854 74 23, 944 00 3,233 48 $13, 485 99 23,314 00 3,169 73 $12,928 62 22,734 00 3,309 16 $12, 877 24 21,915 00 2, 522 31 $13, 079 74 25, 269 00 2,793 15 $.157,864 79 301,751 00 36, 389 13 $45,918 18 $37, 072 81 $40, 032 22 $39, 969 72 $38,971 78 $37,314 55 $41, 141 89 $496, 004 92 Louis Janin, jr., superintendent; David Bowie, secretary. (Juaulih/ olid indue of ore amali/ainated at flic Gould cl* ('urnj mill , and value of bullion produced , in one year ending Xov. .'$0, lsiiii. Ores. Bullion produced.* Assay pel Value of ores. Delivered to mill. A amalgamated. Gold Silver. Total. Tons. Pou inis. Tons. 1865 -1 »<•«•!■ i i i 1 1 <• r . . 3,344 1,535 3,138 $40 64 $127,516 52 $27, 303 19 $63, 113 39 $90, 416 58 1866—.Junimry. _l 3, 04!) 15 2, 744 42 10 115, 537 80 23, 186 oo 61,005 13 84, 191 35 F"!»nuiry 1 463 Q ()0Q 41 64 10*1 07 r » 7J Atarcli. _ 3,666 395 3, 055 56 44 172, 438 84 *j\j j vvO 39, 667 OO 98,315 48 137, 982 70 April. 3, 508 405 2, 908 47 90 139,317 82 33, 251 75 82, 799 53 116,051 28 May. _ 3,739 1,030 3, 085 47 73 147,276 40 43, 721 02 87, 141 72 130, 862 74 Juno . .... 2,990 715 2, 601 48 35 125, 780 96 29,143 82 63, 007 28 92,151 10 July . .... 3,592 1,500 3, 181 34 97 111,239 67 26, 148 18 58,781 81 84, 929 99 August. _ 3,521 1,850 3, 135 42 53 133,331 55 31,637 56 70, 869 57 102, 507 13 September. .... 3,676 1,695 3, 232 37 24 120, 359 68 27, 510 41 63,931 12 91, 441 53 ( b'tober. .... 2,802 1,135 2, 902 33 42 96,984 84 17, 182 91 39,377 43 56, 56(J 34 November. 3,103 1,015 3, GGO 45 29 J69, 187 40 34, 827 90 66,914 93 101,742 83 Total. _ 40,432 755 36, 001 $1, 582 247 43 $363, 803 92 $825, 277 85 $1, 189, 081 77 Cost of worldng per ton of ore. Labor. Silver. Castings. Sulphate copper. Salt. Quicksilver. 1 Sundries. Total. General foreman, watchmen, laborers, &c. $0 71.33 ! §0 71 33 Driving power. 50. 88 $3 97. 84 So 1° 40 A £1 0 1 Preparing ore for batteries. 41.32 Batteries. 65. 98 1 $0 20. 85 «Ji OO in *vi 76. 8 L 4. 65 59. 36 $0 43. 50 $0 27. 06 80 86. 59 10. 96 ■7 I , 3 08. 93 Repairs. 84. 10 60.31 90 00 1 53.41 Hauling ore to mill. . Total. $3 90. 42 $4 02. 49 $0 80. 21 $0 43. 50 $0 27. 06 $0 86. 59 $1 96. 48 $12 26.75 *658 bars, Nos. 2,889 to 3,546. PARIS UNIVERSAL EXPOSITION. REPORT ON THE PRECIOUS METALS. 121 The average cost of extraction per ton of ore, including prospecting and dead work and improvements, is thus shown to be $7 86, and the average cost of working the ore per ton $12 26. The following shows the average contents, yield, and loss per ton : Average assay, per ton. $13 95 Average yield, per ton. 33 02 Loss, per ton. 1° 93 Cost per ton for amount of ore crushed. 12 26.75 Cost per ton for amount of ore amalgamated. 13 77.78 The difference between amount of ore crushed and amalgamated shows loss in slimes and the moisture contained in the ore: Estimated amount of slimes in reservoirs. 3,500 tons. Estimated profit in working slimes. $12 50 per ton = $43,750. The following table exhibits the total ore and bullion product of the Gould & Curry mine, the average yield per ton, and the dividends paid, from the date of the. incorporation of the company (June 27, 1860) to November 30,1866: 1 Product of the Gould & Curry mine to December , 1866. Ore worked, &c. From July 1, 1860, to December 13, 1860. From December 14,1860, to December 13,1861.. From December 14, 1861, to November 30, 1862. From December 1, 1862, to November 30, 1863.. From December!, 1863, to November 30, 1864-. From December 1, 1864, to November 30, 1865 . From December 1, J65, to November 30, 1866.. Total.. From tailings. Worked.tons. On hand December 1, 1866 .do .. Total product. Tons. 140* 300 8, 442i 48, 745 66, 477f 46, 0221 60, 417* 230, 516 4, 2491 234, ?95£ Bullion, &c. $22,004 82 44,221 41 842, 538. 80 3, 902, 712 64 4, 798,124 90 2, 026,172 57 1, 690, 952 25 $13, 326, 727 39 300, 143 76 $13,626,871 15 Average yieldj Dividends per ton. , paid. $156 62 . 147 40. 99 80 1 . 80 07 $1, 468, 800 72 18 | 1, 440, 000 44 02 j 618, 000 28 00 252, 000 $59 02 $3, 778, 800 The average yield of the ores worked from the Comstock lode is further shown by the following data from the principal mines: Mine. Tons reduced. Average yield. Hale & NorcroBH. 22, 626 29, 535 33, 377 ( 2 ) 230, 546 19,750 11,163 $46 65 42 38 38 15 59 02 24 69 42 50 Savaee..... Crown Point.... Gould & Curry .. Empire ... Ophir. _ Carmany’s Review, page.56. 2 Average from July 1, 1860, to November 30, 1866. Uscssmcnts of Washoe mini tiff companies During the year 1807. ('ompuny. January. February. March. April. May. June. July. August. September. October. November. December. Total. $12, 000 $12, 000 $5. 200 15, COO 5,200 74, 880 137,500 42, 000 $12, 480 $15, 000 25, 000 $15, 600 $15, GOO $25, 000 $25, 000 $37, 500 $25, 000 42, 0O0 39, 000 $15, 6(JO 15, 600 70, 200 60, OOO 30, 600 44,000 16, OOO 120, OOO 60, 000 45, OOO 60, 000 30, 600 24, 000 4, 000 4. 000 12, 000 16, 000 120, 000 60, 000 15, 000 30, 000 84, 000 50, 400 50, 400 184, 800 32, (XX) 6, 400 14,000 96, OOO 5, 670 240, 000 32, 000 $6, 400 1,500 12, 500 30, 000 Sierra Nevada. 12, 000 12, 000 30, 000 12,000 White *!fr Murphy.. 5, 670 Yellow .Tucket. 120, 000 120, 000 Total. $110, 300 $70, 000 $44, 480 $31,600 $25, 000 $153, 300 $108, 570 $6, 400 $258, 000 $205, 000 §13-2, 000 , $145 COO $1,21*6,250 PARIS UNIVERSAL EXPOSITION Assessments of Washoe mining companies —Continued-. Company. During the year 1866. January. February. March. April. May. June. July. August. September. October. November. December. Total. $36, 000 $60, 000 $96, 000 18, 000 13, 000 143, 520 175, 000 Alpha. $9, 000 $9, 000 $5, 200 62, 400 25, 000 $7, 800 Baltimore American. Belcher. Bullion. $25, 000 25, 000 $46, 800 25, 000 $34, 320 25, 000 25, 000 25, 000 9, 000 9, 000 39, 000 39, 000 .. 26, 000 32, 000 4,000 4, 000 $6, 000 16, 000 6, 000 6, 000 Daney. Exchequer. 16, 000 Lady Bryan. 5, 000 5, 000 5, 000 15, 000 184, 800 208, 000 100, 800 15, 000 84, 000 32, 000 Overman. 32, 000 48, 000 32, 000 • 48, 000 _ ......... 6, 000 12, 000 6, 000 12, 000 7, 500 12, 000 55, 500 Sierra Nevada. 180, 000 \ ellow Jacket. Total. $62,000 j $299,000 $113 600 $140, 000 $44, 800 $28, 000 $80, 800 $75, 000 $25, 000 $164, 620 $34, 000 $128, 000 $1,194, 820 During 1867 tire companies mining on tlie Comstock lode declared dividends to tlie amount of four millions of dollars. Tlie dividends for 1866 were only $1,754,400, showing an increase of $2,245,600. In 1867 the assessments levied by twenty companies reached $1,296,250, against $1,194,820 levied by fourteen companies in 1866. REPORT ON THE PRECIOUS METALS. 123 Dividends of the lead inf) claims on the Comstock lode. DURING THE YEAR 1807. < lompany. .Jammry. February. March. April. May. June. July. August. September. October. November. December. Total. Per share. Savage. Ihilo A NnrrroHH. Imperial . Yellow .1 ac.ket. . .... (Ilmllur-Potcmi. Kentuck. Crown Point. $811, (Kill >1(1, 000 32, 000 (it), 000 10, 000 60, 000 12, 000 $80, 000 50, 000 48, 000 $80, 000 50, 000 60, 000 $80, 000 50, 000 60, 000 $120, 000 50, 000 60, 000 60, 000 70, 000 40, 000 48, 000 5, 000 7, 200 $160, 000 50, 000 40, 000 90, 000 70, 000 60, 000 $240, 000 50, 000 40, 000 90, 000 70, 000 80, 000 $200, 000 50, 000 40, 000 $200, 000 50, 000 $120,000 $120, 000 $120, 000 $1, 600, 000 440, 000 380, 000 300, 000 420, OIK) 505, 000 264, GOO 33, 750 49, 200 $100 00 550 00 95 00 250 00 150 00 252 50 110 00 67 50 41 00 20, 000 60, 000 18, 000 30, 000 48, 000 12, 000 40, 000 48, 000 5, 000 70, 000 80, 000 70, 000 50, 000 70, 000 50, 000 15, 000 30, 000 Gold 11 ill Quartz M. A. M. Company. Empire Mill A M. Co.. Gould A Curry. 5, 000 7, 500 7, 500 3, 750 i Total. ! $204, 000 $276, 000 $280, 000 $283, 000 $460, 200 $475, 000 $577, 500 $447, 500 $370, 000 $240, 000 $135, 000 $153, 750 $3, 991, 950 . DURING THE YEAR 1866. Savage . S40, 000 30, 000 24, 000 60, 000 $40, 000 30, 000 24, 000 60, 000 $40, 000 30, 000 24, 000 60, 000 $60, 000 40, 000 60, 000 $60, 000 40, 000 32, 000 60, 000 $80,000 j 120,000 32, 000 90, 000 $320, 000 350, 000 176, 000 390, 000 $20 00 i:r7 50 44 00 325 00 Hale & Norcross. Imperial. $20, 000 $20, 000 40, 000 $20, 000 Yellow Jacket. Chollar-Potosi. Kentuck . Crown Poiut. $30, 000 48, 000 48, 000 48. 000 30, 000 30, 000 234, 000 97 50 Gold Hill Quartz M. A M. Company. Empire Mill A M. Co.. 7, 200 7, 200 18, 000 32, 4C0 252, 000 27 60 52 50 Gould A Curry. $60, 000 96, 000 96, 000 Total. $60,000 I. $30, 000 $164, 000 $108, 000 $164, 000 $154, 000 $154, 000 $154, 000 $167 200 _ $229, 200 $370, 000 $1, 754, 400 . | l'AKIK UNIVERSAL EXPOSITION. REPPOET ON THE PRECIOUS METALS. 125 The bullion product of some of the principal mines upon the Comstock lode at Virginia and Gold Hill, the dividends paid and the assessments levied for the years 1866 and 1867, are shown by the foregoing tables. 1 These tables do not include all of the dividend-paying mines, for many of the valuable claims at Gold Hill are private property,.and no reports of their production are made. The Savage mine for the fiscal year ending July 10, 1866, produced ore to the following amounts and values, at a cost of extraction per ton of $18 06: Tons. Pounds. First-class ore. 435 1, 290 Second-class ore. 26,338 1,650 Third-class ore. 3,878 750 Total. 30,652 1,690 . The product of the ores reduced was: Value. Per ton First-class. $93,220 04 $224 08 Second-class. 1,096,449 23 42 04 Third-class. 62,084 54 20 43 Total. $1,251,753 81 Average. $-12 38 The following tables show the monthly shipments of bullion from the Comstock lode for 1865 and 1866 from the two express offices of Wells, Fargo & Co., at Virginia City and at Gold Hill: Bullion shipped from Virginia City and Gold Hill , Nevada , for 1865 and 1866, by Wells , Fargo & Co. Months. 1865. 1866. Gold Hill. Virginia City. Total. Gold Hill. Virginia City. Total. January. $253, 602 89 $940,152 13 $1,193, 755 02 $432, 044 28 $520,177 20 $952,221 48 February. 229, 856 24 1, 033, 855 89 1, 263, 712 13 475,491 63 492, 322 91 968, 814 54 March. 235, 485 68 1,154, 749 76 1,390,335 44 490,123 89 705, 210 33 1,195, 334 22 April. 150,102 45 1,191,172 00 1, 341, 274 45 413,177 17 646, 987 51 1,060., 164 68 May. 197, 802 30 .1, 012, 435 59 1, 210, 237 89 562, 074 83 648, 776 71 1, 210, 851 54 June. 246, 725 62 694, 256 11 940,981 73 673, 111 40 562, 938 70 ' 1,236,050 10 July. 260, 001 59 511,127 57 771,129 16 673,385 93 595, 503 77 1, 268, 889 70 August. 314, 808 93 550, 730 78 865, 539 71 672, 690 14 779, 276 59 1, 451, 966 73 September. 399, 613 99 492, 203 79 891, 817 78 700, 940 33 643, 963 97 1, 344, 904 30 October. 496,165 00 547, 365 58 1, 043, 530 58 726, 464 08 686, 517 23 1,412,981 31 November . 408, 307 90 539, 217 76 947, 525 66 613, 779 62 739,512 30 1,353,291 92 December. 354,425 00 619, 455 28 973, 880 28 666, 984 70 786, 438 96 1, 453, 423 66 Total. $3, 546; 897 59 $9,286, 822 24 $12,833,719 83 $7,100, 268 00 $7, 807, 626 18 $14, 907,894 18 It should be noted that these totals do not present the entire yield of the Comstock lode for the two years, for the bullion from some of the ores is shipped from Carson City, and other points. The bullion from Carson City, in 1866, amounted to $341,366 80. 1 Carmany’s Review, 1867. PAKIS UXIVEliSAL EXPOSITION 12(3 llullion product of the lendimj claims on the Comstock DURING THE YEAR 1 Company. Jauuary. February. March. April. May. June. Hale A Norcross.. Savage. Crown Point. Yellow Jacket.... Gould & Curry... Chollar-Potosi.... Empire M. & M. Company. Imperial. Confidence . Ophir, (aggregate). $1-10,000 00 52,327 11 111,794 13 133, 153 95 43, 200 00 38,191 82 81,891 21 19,474 12 51, 523 04 $51,546 03 150, 000 00 155,461 63 85, 000 00 152, 964 76 59, 745 00 36, 000 00 74, 823 60 10,141 19 27, 478 51 $64,059 33 110, 000 00 148, 552 35 96,519 65 174,096 46 85, 950 00 27, 697 00 48,223 90 12,474 01 49,604 45 $62,027 18 66, 553 70 115, 102 11 84, 827 28 142, 472 28 87, 338 00 29, 542 49 91, 533 61 17, 624 09 84, 340 81 $55, 942 46 115, 000 00 110,514 82 130,366 24 150,804 21 90,359 00 34, 363 04 67, 755 89 15, 869 42 81, 593 57 $104,247 33 130, 000 00 109,601 05 292, 274 00 j 146, 640 49 1 74, 862 00 i 34, 482 75 62, 240 90 20, 869 47 25, 665 89 Gold Hill Q. M. t Overman, (aggre- gate) . Total. $671, 555 41 $803, 160 72 $817, 177 15 $781,361 55 $852, 568 65 $1,000,883 88 DURING THE YEAR 1867. Hale & Norcross.. $102,571 72 $117, 639 44 $79, 144 02 $76, 462 58 $150, 826 68 $117,728 23 Savage. 250, 000 00 270, 000 00 150, 000 00 337, 000 00 408, 000 00 370, 493 96 Crown Point. 140, 000 00 129, 850 00 64,541 58 63,971 00 82, 000 00 77, 550 00 Yellow Jacket a ... 156, 200 37 117, 488 97 108, 913 85 222, 075 44 278, 684 63 195, 913 65 Gould &. Curry... 66, 423 00 45, 165 41 52, 878 47 63, 130 19 74, 862 68 44, 446 46 Chollar-Potosi__ 80, 000 00 100, 000 00 86, 000 00 245,094 00 334,289 17 345, 000 00 Empire M. it M. Company . 38,153 00 26, 787 00 23,081 00 22,884 66 21, 933 00 21, 500 00 Imperial. 115, 948 67 116, 200 00 90,431 96 95, 162 91 94, 000 00 107, 000 00 Confidence . 24,006 10 11, 411 86 8, 052 71 18,202 78 12, 000 00 14, 000 00 Ophir, (aggregate) Kentuck . 43,674 71 70, 095 42 58, 572 85 108, 953 53 132, 333 88 130, 255 51 Gold Hill Q. M. t M. Company_ 5, 400 00 9, 600 00 7, 300 00 10, 000 00 10,866 62 12, 500 00 Overman, (aggre- gate). Total. $1, 022, 377 57 $1,014,238 10 $728, 916 44 $1,262,937 09 $1,599,796 66 $1, 436,387 81 1 1 From Carmany’s Annual Mining Review. -The bullion product of the Yellow Jacket claim has been estimated for the last six months of 1867, as REPORT ON THE PRECIOUS METALS 127 lode during the year 1867, as compared with 18C6. 1 DURING THE YEAR 1866. July. August. September. October. November. December. Total. $125,073 00 140, 000 00 36,557 00 281, 7C6 00 125, 000 00 71, 641 00 28,440 76 65,408 16 46,196 74 19,582 60 $119, 447 38 162, 478 00 80,451 10 379, 699 92 134, 395 23 65, 682 00 31, 520 25 75,840 52 29, 696 58 27, 684 56 $153, 666 63 145, 000 00 116,573 76 292, 566 78 117, 821 35 50, 367 00 41,813 15 78, 459 87 37, 059 56 20, 683 22 $152, 363 74 210, 000 00 111, 150 17 180,288 67 114,321 67 58, 962 00 42, 000 00 99, 476 87 41, 563 72 22, 586 24 $167,034 89 231, 000 00 91, 326 00 202, 090 27 124, 683 61 60, 645 00 45, 000 00 83, 687 17 27, 975 69 6,729 19 $131,135 41 214, 847 39 184,854 00 160, 000 00 108, 427 00 100, 000 00 33,240 12 81, 045 67 25,987 12 $1,186,543 38 1,814,879 09 1,312,471 13 2, 297,132 94 1, 624, 781 01 848,751 00 422, 291 38 910, 387 37 304,931 71 417, 472 08 571,506 79 27, 953 00 $939, 605 26 $1,106, 895 54 $1, 054, 011 32 $1, 032, 713 08 $1, 040,171 82 $1, 039, 536 71 $11,738,100 88 DURING THE YEAR 1867. $133,906 17 375, 000 00 120,043 00 160, 000 00 311, 681 17 26, 312 32 99, 627 54 16,527 52 $124, 664 69 359, 644 37 54,291 85 150, 000 00 30,043 11 350, 000 00 22, 333 80 89, 280 00 12,304 17 $71, 950 24 360, 295 29 49, 000 00 130, 000 00 75, 842 74 252, 000 00 18, 689 40 97, 980 00 11,310 11 $49, 980 22 352, 066 00 42, 071 23 100, 000 00 65, 474 86 253, 866 89 20,571 43 68, 697 94 13, 547 71 $57, 655 81 310,681 00 50,299 30 60, 000 00 90, 235 69 164, 976 67 18, 757 48 63, 395 48 686 50 $14, 767 65 193, 919 50 47,100 00 50, 000 00 6,117 90 145, 977 46 17, 604 08 68,571 00 $1, 097, 297 45 3, 737,100 12 920, 717 96 1, 729, 276 91 614,620 51 2, 668, 885 36 278, 607 17 1, 106, 495 50 142,049 46 <1 me nn 125,767 31 104, 215 35 101, 000 00 102,326 65 65,250 16 98, 296 57 1,140, 741 94 10,250 57 9, 771 52 3, 259 04 10, 995 79 12,182 26 4, 273 02 106, 399 42 • i. u J.O 1 i $1,379,115 60 $1,306, 548 86 $1,171, 326 82 $1,079,798 72 $894,120 35 $646, 627 78 $13,738,617 97 the figures could not be obtained from the office of the company at Virginia. PARIS UNIVERSAL KNPOSITION. I 28 TOTAL BULLION PRODUCT OF THE COMSTOCK LODE. Tin* statistics of the total yield of the Comstock lode, since work was commenced upon it. differ somewhat as presented by different persons. The Surveyor (leneral of Nevada, in his report for tin* year 1865, estimates the total yield up to 1866 at $45,000,000. Commissioner Browne esti¬ mated it to be 800,000.000 up to January, 1807. This last sum is obtained by subtracting* five or six per cent, from the total yield of the State, supposed to have been 870,725,000 up to the end of 1800. In the year 1850 nothing was extracted but some rich ores from the surface, and a few thousand dollars’ worth of gold washed from the out¬ crops and the ravine below them. Some of the ores were worked in arrastras at Gold Hill. The next year, 1800, three or four small mills were started, and the product was about $100,000, to which about 8200,000 may be added for rich ores shipped to California, New York, and Europe. It is believed that the following figures, derived from the sources cited and the writer’s notes previous to 1865, fairly represent the production of the Comstock lode up to the 1st of January, 1868 : Value. 1859, ore and bullion. $50,000 1860 “ 300,000 1861 “ ... 2,000,000 1862 “ . 6,000,000 1863 “ 12,400,000 1864 “ 16,000,000 1865 “ 13,000,000 1866 “ . 15,250,000 l' S(; 7 “ 16,500,000 Total to January 1,1868 $81, 500,000 This bullion product consists of a mixture of gold and silver, and the ratio in value of the two metals is, gold 34.8, silver 65.3, as shown by the following table compiled from assays made at the Silver State Reduction Works by Louis Janin, jr., during 1863 and 1864. 1 1 From Report of State Mineralogist, p. 127. REPORT ON THE PRECIOUS METALS. 129 Table showing the relative value of gold and silver in ores from the Com- stoclc lode. Name of mine. No. of tons. Percentage in value. Gold. Silver Tons. Lbs. r 267 200 42.49 57. 51 1 225 1,600 41.17 58. 83 i 398 300 50.68 49. 32 Mexican.^ 395 . 720 52. 00 48. 00 1,147 200 51.25 48.75 26 8 49.26 50.74 175 790 22.85 77.15 222 450 26. 48 73.52 ! 307 800 24. 00 76. 00 Savage.• 373 1,200 24 68 75. 32 168 33. 94 66. 06 89 32.29 67.71 Potosi... 133 25.84 74.16 r 297 1,680 35.64 64.51 225 620 37. 94 62. 06 Uncle Sam.J 91 1,000 21.20 78. 80 | 82 1,000 34.16 65. 84 l 129 1,160 31. 70 68. 30 Gould & Curry . 440 24. 63 75.37 Adopting this ratio the total bullion product of the Comstock lode may be divided as follows: Gold, value. $28,300,000 Silver, value. 53,200,000 Total $81,500,000 LANDER COUNTY. This county occupies the northeastern corner of the State, but the principal mining districts are along the western and southern bounda¬ ries. The following extract 1 gives the particulars of the discovery of silver in this section of the State: “Early in the month of May, 1862, William M. Talcott, an attache of the stage station at Jacob’s Springs, while hauling wood from the hill-side, now within the limits of the city of Austin, discovered a vein of metal-bearing quartz, and carried a small quantity with him to the station. The rock proved to contain silver; the lode was located as a mining claim, and named the L Pony,’ as the discoverer had formerly been a rider of the Pony Express. On the 10th day of May, 1862, a mining district was formed, including an area of 75 miles east and west, and 20 north and south, and named the Eeese Eiver Mining District.” From this point the discoveries extended north and south; other districts were formed, and the Eeese Eiver district was repeatedly subdivided. The following table gives the names of the 9 Gr Harrington’s Austin Directory. PARIS IMVKKSAL EXPOSITION. \:\0 majority of tin* districts in that section of the State, which, together with Nv<* county, is known as eastern Nevada. The discovery of silver was made upon tin* western slope of the Toiyabe range, which runs nearly north and south, and extends into Nye county. List of districts in Lander county. On western slope of the Toiyabe range: 1. 'Washington, 25 miles south of Austin. 2. Big Creek, 12 miles south of Austin. 3. Reese River, containing the towns of Austin and Clifton. 4. Amador, 6 miles north of Austin. 5. Mount Hope, 12 miles north of Austin. G. Cumberland, 15 miles north of Austin. 7. Columbus, 20 miles north of Austin. 8. Mount Vernon, 30 miles north of Austin. On eastern slope of the Toiyabe range: 0. Bunker Hill, 25 miles south of Austin. 10. Summit, 20 miles south of Austin. 11. Santa Fe, 20 miles south of Austin. 12. Smoky Valley, 12 miles south of Austin. 13. Simpson’s Park, east of Austin. 14. Indian district, 15 miles north of Austin. 15. Callaghan ranch, 1G miles north of Austin. 1G. Wall street, 25 miles north of Austin. 17. Cortez, G5 miles north of Austin. 18. Yreka, 75 miles north of Austin. On the second range east of Toiyabe : 19. Eureka, GO miles east of Austin. 20. Newark, 70 miles east of Austin. 21. Diamond, 80 miles east of Austin. 22. White Pine, 90 miles east of Austin. 23. Cascade, 90 miles east of Austin. In the Ruby valley region : 24. Ruby, 125 miles east of Austin. 25. Wolf mountain, 120 miles east of Austin. In the region of Egan canon: 2G. Gold canon, 160 miles east of Austin. 27. Hercules, 150 miles east of Austin. 28. Antelope, 200 miles east of Austin. 29. Kinsley, 200 miles east of Austin. It is well to observe that the veins in these districts, with the exception of Reese River district, are comparatively undeveloped. Some of the districts have been prospected and nearly abandoned, the veins not proving equal to the sanguine expectations of the locators, or not being rich enough to be profitably worked. The locations in some of these REPORT ON THE PRECIOUS METALS. 131 districts are counted by hundreds and thousands, and generally but a small percentage of them afford encouraging prospects to the intelligent miner. The claims in the vicinity of Austin, in the Reese River district, have been longest known, are most explored, and are more generally produc¬ tive than locations in some of the neighboring districts. Reese River district .—In this district there are more than 6,000 locations of mines in claims of from 500 to 2,000 feet each. Only a few of these are at present mined to any great extent. The rock formation is chiefly a compact granite. This is traversed by numerous and very rich veins of silver ore in quartz. These veins vary from the thickness of a card to one and two feet, and may be said to average 12 to 15 inches. They are generally parallel, are often within a few feet of each other, and dip at various angles. They are remarkable for their richness in silver and for the absence of gold. The following are the principal silver minerals which have been found to compose the mass of the ore in most of the veins: dark and light red silver ore, argentiferous gray copper, antiinonial sulphuret of silver, polybasite, and in the upper portions of the veins, where the ore has decomposed, chlor¬ ide of silver and native silver are abundant. It is probable that iodide and bromide of silver also occur in the surface ores. The following statement of the product of the veins in Lander county for the last three months of 1866 1 shows the remarkable richness of these ores, and the extent to which they were worked. Product of mines in Lander county for last quarter of 1866. Name of mine. 1 No. of tons. Average per ton. Diana. Tons. Lbs. 1 dQ 1 QHQ 4*qi i q Amsterdam.. 1 250 4 qon «pyj. Jo 1 fiQ 7 K Buel North Star. loo / D qqo Camargo. “ t/iwU 19 07*1 «JUD O 1 1 ifl er *7 Chase. 1 O A ylQQ lib 07 Enterprise. 4 4oo 2 405 10 East Oregon. 111 53 Empire State. 4 i i y •y ftio 187 65 Ensign. / oiy 99 22 Fortune Teller. 1 oo7 66 25 Florida .. 4 416 13 h 900 177 28 Fenian Star. 255 60 Fortuua. 7 1,520 54 00 Farrel.... 3 M53 2t 7 30 33 Great Eastern.... 71 12 Idora . 22 695 i i f\r\ 217 94 !• R. Murphv. 220 42 251 18 Joseph Coe_ 1 1 UU 1 1,350 Jacob Bradley 27 85 Keystone. i 116 80 Kihock . 2 350 194 66 Zaidee.... 1 197 27 1 728 100 61 1 From the assessor’s books ; quoted in the Report of State Mineralo ist, pp. 99,100. PARIS UNIVERSAL EXPOSITION. 3*2 Pnntuet of mines in Lamin' county far laxt quarter of ISGG—Continued. Name of mine. Lodi.. Livermore. Mount Tenabo (Cortez). Morgan & Muncey. Magnolia. Metaeom. Manhattan Company. May . Hot Creek. 17. Morey. 18. Empire. D. In the eastern part of county: 19. Milk springs. 20. lieveille. 21. Pahranagat. 22. Worthington. The following brief notices of the principal districts are taken chiefly from the descriptive publication upon eastern Nevada, circulated at the Exposition: 1 Blue /Springs district .—This is so named from a number of deep springs or ponds of water which lie in the valley at the foot of the mountains within this district. It contains a number of veins of quartz of large size, reputed to be rich in silver, but so sligntly developed that their true value is not really known. Being in the mountain range, so singularly rich in silver and other metals, the district is, in all probability, as rich as those surrounding it. Near this, in the great Smoky Valley, is the extensive field of 2,000 acres of salt lands, from which is obtained the greater portion of the salt used at Austin and throughout the neighboring section, for both domestic purposes and the reduction of ores. Upon this salt- field. as on many others with which the State abounds, the salt rises as an efflorescence a half inch or more in thickness upon the surface of the ground, from whence it is carefully gathered. A slight rain 1 La Nevada Orientate. REPORT ON THE PRECIOUS METALS. 135 causes tlie salt to disappear, but under the influence of the sun it soon reappears. Many hundreds of tons are obtained from the field annu¬ ally, and the supply coming from deep springs seems to be inexhausti¬ ble. It is furnished for the use of mills at from $30 to $50 per ton. North Ticin River district— u Forty miles south of Austin we reach the Nqrth Twin River district. Although this section of the country was examined and many claims located early in the settlement of the country, it was not considered of importance until within a year or two of the present time, when quite thorough work upon a number of veins has proved them of large size and most extraordinary value. Deep canons, with running streams, open to the plain, afford access to the mines and sites for reduction mills. The mines of the La Plata and Buckeye com¬ panies are in this district, and it is from the developments of these that, the estimates of the value of the district are founded. A large mill is in course of construction by the La Plata company, which, in a few months, will be adding to the stream of bullion already commenced to flow from the mining districts bordering the Smoky Valley. Other mills are in contemplation, and will probably be in operation before the expiration of the present year.” Twin River district. —The Twin River district is 50 miles south of Aus¬ tin, and is at present regarded as the most important of the districts on the eastern slppe of the mountain. It received its name from two very pretty streams (although not in the district) which flow 7 into the valley, running side by side, only a few yards distant, never uniting, but sinking soon after reaching the plain. The principal mines of the district are situated in Ophir canon, where a large and busy village has been built. The Murphy mine is the one most explored, and by its great produc¬ tion of bullion has given a high reputation to the section of country in which it is located. A costly and complete mill, connected with the mine, with steam power operating 20 heavy stamps, and with furnaces for roasting and cldoridizing the ores, was completed in the fall of 18G6, and has since been in successful operation, producing $30,000 to $60,000 monthly. It is expected that another mill will be erected during the summer in connection with the McDonald mine, which is on the same vein as the Murphy. The Wisconsin and other canons in the neighbor¬ hood are similar in formation and general character to the Ophir, and contain silver-bearing veins of great promise. The ore of the district is tetrahedrite, with gold and silver predominant, and containing some base metals. It is generally rich, and an abundance is obtained, producing upwards of $100 per ton. Water and w r ood are found in unlimited quan¬ tities in the mountains, and the soil of the contiguous valley is productive. South Tic in River, Hot Springs, El Dorado, and Peavine districts. —These districts succeed to near wdiere the mountain range, which we have traced for 150 miles, falls aw r ay into the plain. They have been only slightly explored. The great Smoky Valley lies to the east of and between the range of districts which have been noticed, and the line of districts in the PAKIS UNIVERSAL EXPOSITION. 13G Smoky mountain range. In tin* centre of tin* valley there art? remarkable springs of hot water, throwing out a large and constant stream. “The basin of tin* spring is from 20 to 30 feet in diameter, and tin* fountain of boiling water rises in the centre, a constant column ascending by its subter¬ ranean force several feet above the surface. The water is excellent for all uses, and its great heat is found very convenient for domestic purposes.” San Antonio district. — San Antonio district, comprising the mountain of that name, is situated about 20 miles southeast of the southern terminus of the Toiyabe mountains, and about 90 miles from Austin. Several companies are at present engaged in successful mining, and large quanti¬ ties of ore are extracted, which return, from reduction, an average of $200 per ton. The mountain is dry, barren, and broken, and for a depth of upwards of 200 feet, which has been reached, no water has been obtained. A few miles to the northwest are springs where two small quartz mills have been constructed. More vigorous work is now pro¬ secuted upon the mines of this district than formerly. Philadelphia or Silver Bend district. —On the eastern slope of the Smoky Valley range of mountains, and including a spur of them running to the southeast, about eighty miles south by east from Austin, is the district of Silver Bend or Philadelphia. Here have been found veins of great size, and exceedingly rich in silver. The chief discovery has been the single ledge called the Higlibridge and the Transylvania. This, if a singleledge, has been traced and opened along a line formally thousand feet; it is described as always large, from live to seven feet in thick¬ ness, and as producing ore worth from $200 to several thousand dollars a toil. Specimens of the ore at the Exposition were assayed at the gov¬ ernment bureau for the assay of minerals, under the direction of Professor Pivot, with the following results: 1 . Highbridge mine. —Gray copper with sulphuretof copper and altered blue and green carbonate of copper, speckled with blende on ferruginous quartz. Assay in silver per ton of 2,000 pounds, $1,709 50. 2. Transylvania mine. —Sulpliuret of copper, with blue and green car¬ bonate of copper and niispickel on ferruginous quartz. Assay in silver per ton of 2,000 pounds, $2,794 OS. A portion of the vein became the property of David E. Buel, esq., who erected a small mill for the reduction of the ore, and in a few months pro¬ duced bullion to the value of $100,000. The town of Belmont was soon built, and had a population of 1,000 miners. The district of Northumberland is in the same range of mountains and 20 miles north of Belmont. Several tons of ore have been reduced to test the value of the veins and the product has been from $130 to $200 per ton. proving beyond dispute the value of the ore. The ledges are large and numerous. Danville , Hercules. Hot Creek, and Milk Springs districts. —During the summer of 1800 thousands of square miles were explored and the districts of Danville, Hot Creek, Empire, Milk Springs and Reveille organized. REPOET ON THE PRECIOUS METALS. 137 Hercules and Pahranagat had been previously formed. Hot Creek dis¬ trict receives its name from a singular stream of hot water flowing from several boiling springs, and forming a stream of several feet in breadth for two or three miles. It flows through a crack or chasm in the mount¬ ains, the walls of which rise 1,000 feet on either side. Limestone is the prevailing rock. Empire and Milk Springs districts are in the Hot Creek range of mount¬ ains, and are respectively 20 and 40 miles south of Hot creek. They are but little developed. Reveille district is 140 miles southeast of Austin, and in the range of mountains next east of Hot creek, from which district it is 35 miles south¬ east. Limestone is the prevailing rock, and it bears great masses of quartz rich in silver ores. They are located and regarded as veins, although quite irregular in appearance. The Antarctic is reported to be 56 feet thick; the August, 73 feet; the Crescent, 10G; the Mediterranean, 60; the Atlantic, 40, and the National 45 feet thick. The following is the report of an assay made at the assay bureau of the French govern¬ ment upon a specimen from the collection sent to the Exposition: Fisherman ledge .—Bullion Company, Reveille district. Quartz impreg¬ nated with altered copper, small specks of galena, and blende. Assay in silver per ton of 2,000 pounds, $1,713 4G. The district was organized in 1866, and had a mill of five stamps in successful operation. Pahranagat district .—This district is located in the eastern part of the county, in a lofty range of mountains running nearly north and south. It is 50 miles east of Reveille district, and is about 150 miles north of Oallville, upon the Colorado river. It was located in March, 1865, but, owing to distance from supplies and the presence of hostile Indians, a permanent settlement was not effected before October, and, during 1866, from 100 to 200 men were engaged there in prospecting and mining. The number of mining locations on record, in 1866, was about 1,000, and the claims extended over a belt of country five miles long by about three wide. The altitude is about 5,000 feet above the sea. The principal mines he on the southern and eastern slopes of Mount Irish, which is composed of a whitish porphyritic rock, with dark colored limestone on the flanks, (aboundingin crinoids and corals,) overlying slates, and capped with a heavy bed of quartzite. 1 The veins are numerous and vary greatly in width, but in 1866 they had not been much worked or opened. Their general direction is north¬ east and southwest. ESMERALDA COUNTY. This county, occupying the southwestern corner of the State, and bor¬ dering upon California, is rich in gold and silver-bearing districts, of which the following is a list: Aurora section—Esmeralda, Masonic, Yan Horn, Montgomery, Pahdet, 1 This notice is condensed from the report of R. H. Stretch, the State mineralogist. (1866.) PARIS PXIVKRSAL EXPOSITION'. IAS Thunder Spring. Blind Springs district mid 1 ><>t silver ore of great richness, but none of them yet extensively developed or worked. These veins are interesting for their nearly hori¬ zontal position, and they appear to be contact deposits between a thickly bedded yellowish limestone, or dolomite, and granite. The Poeotillo series, the Vanderbilt, and the Sisson claims are prominent among those which have been partially opened. REPORT ON THE PRECIOUS METALS. 139 The Vanderbilt claim was represented in the Exposition by specimens in the collection sent from eastern Nevada, and a portion was assayed at the government bureau of assays under the direction of Prof. Pivot, with the following results, according to the extract from the official reg¬ ister : Vanderbilt mine .—Silver Peak and Eed Mountain.—Quartz, impreg¬ nated with gray copper, with altered green and blue carbonate of cop¬ per, yellow hydrated oxide of iron, specks of galena, and perhaps sul- phuret of silver. Silver, per cent. 2.370; value per ton, $687 30; gold, per cent. 0.008. The geology of this district is extremly interesting, as granite, trap dikes, yellow limestone and blue fossiliferous limestone, probably Silu¬ rian, and black slates are found in close proximity; while recent vol¬ canic cones and deposits of salt, sulphur, and alum are found in the val¬ leys. CHURCHILL COUNTY. The following mining districts have been organized in this county: Mountain Wells, Silver Hill, Clan Alpine, Desert, Augusta, Salina, Alamo, New Pass, and Eavenswood. HUMBOLDT COUNTY. A great number of mining districts were organized along both slopes of the Humboldt or Star Mountain range, in this county, and several thousand locations of claims were made and recorded, but only a few of these claims have produced any notable amount of ore or bullion. The principal districts are Prince Eoyal, Humboldt, El Dorado, Echo, Sacra¬ mento, Santa Clara, Star, Buena Vista, Indian, American, Sierra, Ala¬ bama, Pine-wood, Table Mountain, Cinnabar, Ohio, Columbia, Oro Eino, and Harmony. The Pueblo, Vicksburg, and Black Eock districts are in the northern part of the county, and their exploration and settlement has been retarded by Indian difficulties. Sheba mine , Star district .—Perhaps the most i>i?ominent mine of the county is the Sheba, near Star City, in Star district, which a few years ago yielded a large quantity of very rich ore, but of a refractory nature, being composed in great part of argentiferous gray copper, mixed with sulphuret of antimony. Failing in the reduction of this ore by the ordi¬ nary processes, the richest ore was sent to England to be smelted. The aggregate yield of the mine has been about $70,000. In the develop¬ ment and working of this claim 3,000 feet of tunnels and drifts have been run, at a cost of $75,000. The ore was found in irregular bunches or deposits, in metamorpliic strata of the Secondary period, and does not appear to be in a regular vein. The principal bunches of ore have been removed, and the mine has since been unproductive. He Soto claim , Star district .—Similar ore has been found in the De Soto 140 PARIS UNIVERSAL EXPOSITION. claim, in the vicinity. About 1,000 feet of tunnel lias been run upon this claim, ami about 200 tons of ore taken out, worth $100 per ton. Gem of the Sierras mine. Sierra district, —This claim is located li\ c miles east of Dunglon, in limestone. It affords very rich ore, someot it assay ing s 10,000 in -silver per ton. An incline shaft has been sunk to a depth of SO feet, and drifts have been run to an aggregate <>t dnO foot. In doing this work 17S tons of ore were taken out, which was worked by the ordinary pan process, and yielded $31,000, or at the rate of $175 per ton. 1 Tallulah mine. —This claim is one and a half mile west of Dun Glen, and is in the outer hills of the first mountain range east of Star mountain. There are two or more lodes, well defined, trending north and south, and dipping to the west at about 45 degrees. These are cut by a tunnel 500 feet long. The ore is in some respects similar to that from the Sheba, and is characterized by a large amount of antimony. It also contains some native silver, and in general is very rich, some of it having yielded $1,000 per ton. About 50 tons of first-class ore had been taken out in 18G5. Montezuma mine , Trinity district. —The vein in this claim is interesting for the large amount of antimony and lead it contains. The ore is said to yield an average of $75 per ton in silver. By smelting, it yields $!)0 per ton, and 48 per cent, of lead and antimony. TABULAE STATEMENT OF THE RESULTS OF THE ASSAYS OF ORES SENT TO TIIE PARIS EXPOSITION FROM EASTERN NEVADA. The following statement of the results of the assays of ores from eastern Nevada was published and circulated at the Exposition in connection with the little work entitled La Nevada Orientate. It is given exactly as printed, with the exception of the correction of a few typographical errors. There appears to be a discrepancy, in some instances, between the per¬ centage amounts and the value given in the translation: Extract from the register of the bu¬ reau of assay of minerals. Paris, August 1, 1867. Eleven specimens of silver ore coming from Austin, Nevada, U. S., received from Mr. Gruner, Inspector General of the Mines of France. 1. Highbridge Mine .—Gray copper with sulphuret of copper and altered blue and green carbonate of copper, speckled with blende on ferruginous quartz. Assa}' in silver per ton of 2,000 pounds. $1,701) 50 Report of Hiram Welch, county assessor, 1865. Extrait des registres du bureau d'es¬ sai pour les substances minerales. Paris, le l cr Aout 1867. Onze minerais d’argent, pro vena Nl d’Austin-Nevada, remis par M. Gru- NER. INSPECTEUR GENERAL DES MINES. 1. Highbridge Mine .—Cuivre gris avec cuivresulfure et alterations de cuivre carbone vert et bleu, mouches de blende sur quartz ferrugiueux. Argent 0 0 ... 4.535 Or 0 0. 0.000 REPORT ON THE PRECIOUS METALS. 141 2. Transylvania Mine.— Cuivre sulfur^ avec cuivre carbonate vert et bleu ; mouches de bleude et de galene cuivre gris et mis- pickel sur quartz ferrugineux. Argent 0/0. 1.405 Or 0(0. 0.000 3. Vanderbilt Mine .—Silver Peak et Red Mountain Co, etiquette Pocotillo.—Quartz impregnd de cuivre gris avec alteration de cuivre carbonate vert et bleu. Fer oxyde hydrate jauue, mouches de galene et peut- etre argent sulfure. Argent 0/0. 2.370 OrOjO.J. . 0.008 4. FishermanLedge .—Bullion Co.,Reveille District.—Quartz impregnd d’alterations cuivreuses, faibles mouches de galene et de blende. Argent 0/0.. 4.545 Or 0/0. 0.0005 5. Chase Mine .—Yankee Blade.—Roche quartzeuse griseimpregnde d’argent sulfurd, d’argent natif, d’argent gris, de cuivre gris avec cuivre pyriteux. Argent 0/0. 6.250 Or 0/0. 0.C0025 6. Great-Eastern Mine —Argent gris, argent rouge, peut-etre, argent sulfure, cuivre pyriteux en grains cristallins tres- petits, pyrite de fer, mouches de galbne sur quartz. Argent 0/0. 9.280 Or 0/0 . 0.00250 7. Florida Mine .—Argent gris avec argent rouge sur quartz. Argent 0/8. 11.170 Or 0/0. 0.0005 8. Timoke Mine .—Argent gris avec argent rouge et cuivre gris sur quartz. Argent 0/0. 14.100 °r0|0. 0.001 9. Manhattan Mute —North Star Mine.— Argent rouge, argent gris avec mouches de Pyrite de fer sur quartz. Argent 0/0. 4.710 0r 0/0 . 0.0005 10. Diana Mine .—Cuivre gris avec pyrite de fer et de cuivre, mouches de galene sur quartz avec un peu de feldspath rose. Argent 0/0. 6.930 Or °/0 . 0.000 2. Transylvania Mine. —Sulpliuret of copper, with blue and green carbonate of copper and mispickel on ferruginous quartz. Assay in silver per ton of 2,000 pounds. $2,794 68 3. J r anderbilt Mine. —Silver Peak and Red Mountain. — Quartz, impregnated with gray copper, with altered green and blue carbonate of copper, yellow hydrated oxyde of iron, specks of galena and perhaps sul- phuret of silver. Assay in silver per ton of 2,000 pounds. $687 30 4. Fisherman Ledge. —Bullion Co., Rev¬ eille District. — Quartz impregnated with altered copper, small specks of galena and blende. Assay in silver per ton of 2,000 pounds. $1,713 46 5. Chase Mine. —Yankee Blade.—Gray quartz rock impregnated with suiphuret of silver, native silver, gray silver and gray copper, with copper pyrites. Assay in silver per ton of 2,000 pounds. $2,356 50 6. Great Eastern Mine. —Gray silver, ruby silver, perhaps suiphuret of silver, gray cop¬ per, copper pyrites in very small crystalline grains, iron pyrites, specks of galena on quartz. Assay in silver per ton of 2,000 pounds. $3,498 50 7. Florida Mine. —Gray silver, with ruby silver, and gray copper on quartz. Assay in silver per ton of 2,000 pounds. $4,211 09 8. Timoke Mine. —Gray silver, with ruby silver and gray copper on quartz. Assay in silver per ton of 2,000 pounds. $5,349 63 9. Manhattan Mine. —North Star Mine.— Ruby silver, gray silver, with specks of iron pyrites on quartz. Assay in silver per ton of 2,000 pounds. $1,365 90 10. Diana Mine.—Gray copper with iron and copper pyrites, specks of galena on quartz, with a little rose-colored feldspar. Assay in silver per ton of 2,000 pounds. $2,612 61 142 PARIS UNIVERSAL EXPOSITION. II. Fairmount Mine .—Twin river.— Gnlrne facettes curvilignes, cuivre gris, inispickel, mouches de blende sur quartz. Argent 0/0. 0.180 Or 0, 0 . 0.00025 (Signed) LTngcnieur en chef des Mines Directeur du Bureau des essais. L.-E. RIVOT. II. Fainnount Mine .—Twin river.—Gal¬ ena with curvilinear faces, gray coppper, mispickel, specks of blende on quartz. Assay in silver per ton of 2,000 pounds. 807 *6 (Signed; Chief Engineer of Mines and Director of Bureau of Assay, L.-E. RIVOT. REDUCTION WORKS IN NEVADA IN 1866. According to the tabular statement presented on the following page, there were 85 quartz mills for the reduction or treatment of silver and gold ores in the State of Nevada in 1866. Most of these were propelled by steam. They had an aggregate of 1,260 stamps, and cost over $ 6 , 000 , 000 . Nearly all the machinery of these establishments, the stamps, rock- breakers, pans, concentrators, etc., was made in San Francisco and carted across Sierra Nevada in wagons. REPORT ON THE PRECIOUS METALS 143 Table of quartz mills in the State of Nevada in 1866. [From Langley’s Pacific Coast Business Directory. | Location. Name of mill. When erected. No. stamps. Power. Cost.i Occupants or ownei in 1866. CHURCHILL COUNTY. Connecticut. 1865 15 Steam. $100, 000 Conn. Mill and Land Co. Clan Alpine. 1865 10 ....do. 100, 000 Clan Alpine M. & M. Co. Silver Wave. 1865 10 __do. 100, 000 Silver Wave M. & M. Co. Desert. 5 _ do_ 100 000 ESMERALDA COUNTY. Alturas. 7 Do . Antelope. 1862 8 100, 000 Do. Aurora. 1863 16 40 000 Do. Gibbons . 4 do Do. Independence . 1863 16 60 000 J. D. Winters. Do. Napa. 8 Do. Pioneer. 8 * Do. Real del Monte .... 1863 30 150, 000 Do. Red Mountain. 3 Do. Union. 1862 8 10 000 Do. Wide West... 1862 16 75 000 Wide West M. & M. Co. Pine Creek. Pine Creek.. 1862 10 15 C00 Silver Peak. Martin & Co... 16 40, 000 Do. New York and Sil- 10 ver Peak. M. & M. Co. HUMBOLDT COUNTY. 2 Dun Glen.. Auld Lang Syne_ 1864 8 Steam. • 30,000 Auld Lang Syne M. Co. Etna. Nason’s. 1865 .... -do. 35, 000 A. W. Nason. Do. Stevenson’s... 1865 10 fif) ono Ginaca Bridge. Holt’s. 1866 4 20 000 a W TTnl t Oreana. Webber’s. 1865 10 -do. 35, 000 Nevada S. M. Co. Puebla. Puebla. 1865 8 oo 000 Star City. Sheba. 1863 10 Of) 000 G. Faulkner. Do. Old Sheba. 1863 10 000 Union ville. Pioneer. 1862 8 30, 000 Pioneer and Inskip M. and M. Co. LANDER COUNTY. Austin. Boston and Nevada. 1865 10 Steam .. .. 80, 000 Do. California ... 1863 10 Do. Long Island. 1863 5 40 nnn Do. Manhattan. 1864 20 -do. 100, 000 Do. Pioneer.. 1863 20 i r.n nnn Do. Silver Hill. 1866 5 -do.. 50, 000 Do. Union. 1863 10 70 non Do. Ware. 1865 5 -do. 40, 000 Big Creek. Eureka. 1865 10 -do. 60, OOO Do. Parrott. 1865 15 -do. 80, 000 Do. Phelps. 1864 10 Water. 30, 000 Butte canon. San Francisco. 1865 8 Steam .. .. 40, 000 Cortez .... Cortez. 1864 16 -do. 90, 000 Egan canon. Hope. 1865 5 *3n nnn Do. Social Company 1865 5 9a non Do. Steptoe. 1865 20 100, 000 1 The estimate of the assessors for the machinery; value of mine not included. -Webber’s mill at Oreana has smelting furnaces, with capacity of 15 to 20 tons per day. The Humboldt River Mill and Mining Company are preparing [1866J to erect a fine 10-stamp mill near Dun Glen. 144 l'AKls L'NIYKRSAL EXPOSITION. Table of ijnartz mills in the State of Xeraria in ISdi;—Continued. Location. Name of mill. - L 4> * c X i o Power. Cost. Occupants or owners in 1866. Emigrant caflou. Kevs‘one. 1865 20 Steam. $95, 000 1866 20 _do. 100, 000 Nevada. Do 1865 | 20 Water. 100, 000 New York canon. Metacom. 1866 | 20 i Steam .. .. 50, 000 1865 15 _do. 120, 000 Confidence. i 1865 10 _do.. 100, 000 Do . 1866 10 _do. 60, 000 LYON COUNTY. • Eureka . 1861 20 | Water. 65, 000 Dunbar, Hurd A Co. Do . Franklin.. 1861 10 Steam and 35, 000 Bank of California. water. Do . Hydes.. Water. 5, 000 W. B. Hyde. Do . Island. . 1862 10 Steam and 35, 000 C. A. Hill. water. Do. Lindauer.fr Hirsch- 15 Water. 80, 000 Lindauer >fr Ilirschman. man’s. Do . Opliir No. I. 1864 10 Steam and 20, 000 Opliir M. Sc M. Co. water. Do . Opliir No. 2. 24 __do. 75, 000 Do. Do. San Francisco_ 1861 10 -do. 35, 000 C. A. Shad Sc Co. Palmyra. 1864 10 Steam .... 15, 000 Birdsall & Carpent’r 1865 30 Water. 45, 0C0 Birdsall & Carpenter. Do . Daney. 1863 15 Steam .... 55, 000 Daney G. Sc S. M. Co. Do . Dayton No. 1. 1861 16 Water. 50, 000 J. D. Winters & Co. Do . Dayton No. 2. 1864 20 Steam .... 40, 000 Do. Do . Dayton Reduction 15 .... do. 15, 000 R. Helm Sc Co. Works. Do . Golden Eagle . 1861 15 _ do . 35, 000 Rule ifr Co. Do . Illinois . 1864 15 __ do . 35, 000 Bank of California. Do . Gould & Currv _ 80 ... .do. 950, 000 Gould Sc Curry 8 . M. Co. Do . Hoosier State. 8 _ _do. 40, 000 J. C. Clarke. Do . Lands . 20 .... do. 60, 000 Charles Land. Do . Mariposa .•. 13 .... do. .. 20, 000 Davis ifr McCurdy. Do . Ogtlen . . oo _ do _ 50, 000 Ogden, Corey & Co. Do Rodgers . 10 __ do. . _ 25 000 Rodgers S. M. Co. Do . Summit . 20 __ do . 50, 000 Summit Mdl Co. Do . Suucock . 16 ... .do ... 35 000 Bassett Sc Co. Do . Wintield . 18 .... do _ 80, 000 L. A. Booth. WASHOE COUNTY. Frank town . Dallas . 60 Stearn and 250, 000 J. Dali Sc Co. water. i >phir . Opliir . 72 Steam .... 500, 000 Opbir M. Sc M. Co. Napa . ^ 20 Steam and 80, 000 James Hill & Co. water. Do . Temelic . 15 _ do _ 75 000 W C Wallace. Truekee Meadows __ English county .... 20 Water . 100, 000 W. C. G. Sc S. M. Co. Washoe .. Atchison . 20 Steam and 80, 000 L. Tevis. 1 I water. Do . Buckeve .. 10 Steam .... 50, 000 L. Mason. Do . Manhattan . 24 Steam and 100 , 000 New York and Nevada G. i water. and S. M. Co. Do. Minnesota . 16 do 75 000 Do. New York. 24 Steam .... 111,000 N. Y. Sc W. M. Sc M. Co. REPORT ON THE PRECIOUS METALS. 145 CALIFORNIA. The discovery of silver ore in California dates from 1854, when a mass of telluret of silver, (Hessite,) a rare mineral, was found in the gold washings near Georgetown in El Dorado county, 1 but all endeavors to find a vein or deposit there have been unsuccessful. The portion of the State lying- east of the crest of the Sierra Nevada, and bordering upon the State of Nevada, has several districts already noted for their rich veins of silver, but no very extensive developments of the veins have yet been made, and the production of silver bullion is not yet large. The eastern range or crest of the Sierra Nevada, bordering the long valley occupied by Owen’s river and lake, is perhaps the principal silver region. The following is a list of the districts that have been organized in that section. Commencing at the north, and giving the names of the districts in their order towards the south, we have, on the western slope of the White mountain and Inyo range: Columbus, Slate mountain, Mont¬ gomery, Lone Pine, Keyes, Inyo, Russ, Coso, Argus, Union, Telescope, and Soda Springs. (The four last named are beyond the limits of Owen’s valley.) On the opposite side of Owen’s river valley, and on the eastern slope of the Sierra Nevada range, commencing as before, on the north: Blind Springs, Big Pine, Kearsarge, and Alabama. Still further south is the Slate Range district, once quite noted as the locality of the Antrim lode and other veins containing much chloride of silver, but now, and for two or three years past, practically abandoned. North of Blind Springs and Montgomery districts are Bodie Bluff, in Mono county, and Silver Mountain, Monitor, Mogul, Webster and Alpine districts, in Alpine county. Recently, in the spring of 1867, some very rich ore was discovered in a large vein called the Chicago in Shasta county, west of the Sierra Nevada, and in the northern part of the State. The vein is reported to be quite large, and the ore abundant. It w as represented by several specimens in the California coUection, (Nos. 54 to 57.) This ore is a mixture of argentiferous gray copper and argenti¬ ferous galena, and is admirably adapted to smelting. Other veins of silver ore have been found in the southern part of the State in what is known as the Macedonian district in San Bernardino county, represented in the Exhibition by a specimen presented by Mr. D’Heureuse from the Magenta lode. (No. 53 of the Catalogue.); In the San Gabriel mountains, Los Angeles county, about 25 miles from Los Angeles, a vein of argentiferous gray copper has been opened by Br. Winston. This is a region, together with a broad area north of it, as yet but very imperfectly explored, there being large tracts of coun¬ try of which the topography is scarcely known. Blind Springs district .—This district at the present time is one of the richest in silver of the State of California, and was represented in the 1 V ide Report of a Geological Reconnaissance in California, p. 274. 10 G PARIS UNIVERSAL EXPOSITION. 146 Imposition by specimens from tlio following claims: Camanchc, Jose¬ phine, Rockingham, and I >iana. The (’amanche specimen weighed about 100 pounds, and was contributed by Dr. Darkness and Dr. Frey, ot Sacramento. The mass contained a large amount of silver in a state of admixture with autimonial ochre and green carbonate and silicate of copper. Chloride of silver, and perhaps bromide, was also present, and the whole mass had a 'dark greenish black color. The other ores were somewhat similar, but contained more of the chloride of silver, in visible crusts. These veins are not very wide, usually from six inches to two feet, and they traverse granite. The ore, however, is exceedingly rich, and yields up the silver readily by smelting. Dr. Partz, who represents a New York mining company, has erected smelting furnaces, and produces a considerable amount of rich bullion, but no statistics have been received. A thriving village, called Partz- wick, has grown up about these mines and smelting works. Kearsarge district .—The veins for which this district was organized are situated in one of the highest peaks of the Sierra Nevada, known as Kearsarge mountain, a few miles west of the United States military sta¬ tion, Camp Independence. This mountain is composed of granite and slates, all metamorphosed, and is cut by veins up to the height of 10,000 feet or more. The principal claims represented by specimens in the Exposition were the Kearsarge and the Silver Sprout. The latter crops out boldly at a great height upon the mountain, and contains some very rich ore charged with sulpliuret of silver and native silver. It appears to be an ore that can be readily and cheaply worked. The Kearsarge claim is lower down the mountain and has also some very rich ores, but they appear to con¬ tain more galena and to be more difficult to work. Two or more mills ai;e erected in the canon below these claims. Other veins of some promise, but not yet much opened, are the Moun¬ tain Sheep, Montezuma, and Pillar. Inyo, Russ, and Coso districts .—These districts adjoin in the Inyo mountain range, the first east of the Sierra Nevada. The specimens in the Exposition, Nos. 69-73, were chiefly from the Eclipse claim. The ores are a mixture of silver, copper, and lead minerals. The Buena Vista lode, and the San Rafael, were represented by some very rich ores. Most of the veins of this district are characterized by containing large amounts of lead ore, either as galena or the secondary compounds result¬ ing from its surface decomposition, such as the carbonate and the sul¬ phate of lead. The attempts which have been made to work these ores in the ordinary way, by grinding in iron pans, were of course failures, and the mills which were built are idle or in ruins. Some attempts have since been made to smelt the ore, but the presence of roving hostile sav¬ ages, and other difficulties, have hitherto prevented the development of the undoubted riches of the region. A new district called Cerro Gordo is repotted, and the principal claims are the San Lucas, the Buena Vista, and the Bismarck. REPORT ON THE PRECIOUS METALS. 147 IDAHO. The great silver region of Idaho is in the southwestern corner of the Territory, in the Oro Fino mountain range, the divide between the Owyhee and Snake rivers, and about 450 miles southwest of Boise City. The rocks are granite and the veins numerous and parallel, trending nearly northeast and southwest. They have the appearance, in speci¬ mens, of being fissure veins, not generally of great width, but of extreme richness in silver and gold, giving bullion worth from $3 to $8 per ounce. The outcrops contain more gold than the rock below, which has not been decomposed by the action of the air and moisture, and which carries a large portion of silver. This is well shown by the following assays of two samples, one from near the surface in the lode known as the Oro Fino, yielded at the rate of $2,016 24 per ton in gold, and $425 03 in silver; total value $2,441 27. The other sample was from the Morn- > ing Star lode, near the water level, and gave at the rate of, per ton, gold, $310 19, and silver $2,216 39; total, $2,526 58. The only vein of this important region known by the writer to have been represented by spe¬ cimens or statistics in the Exposition was the celebrated Poorman lode, of which the following is a short description: Poorman lode .—This vein has become celebrated throughout the Pacific coast mining regions for the large quantities of extremely rich silver ore and native silver which it has yielded. Bed or ruby silver ore occurs in large masses, together wdth chloride of silver in broad sheets and crusts, often beautifully crystallized. Native gold occurs also sparingly with the native silver hi the partly decomposed ores. Several blocks of the rich ore from 18 inches to two or three feet in length, and weighing several hundred weight, were exhibited at the Expo¬ sition in the central pyramidal mass of ores in the United States section. The remarkable interest and value of the exhibit was recognized by the award of a gold medal. The Poorman claim is 1,600 feet in length upon the course of the lode. Of this the New York and Owyhee Gold and Silver Mining Company owns 1,142£ feet. Under this organization the mine was re-opened July 23,1866, and work was continued upon it until October 23, being a period of three months. During this time about 15 tons of first-class selected ore were taken out, and this was packed in boxes and shipped to New York to be smelted at Newark. It was found by calculation that the expense of transportation would not be greater than the costs of treatment in Idaho, while the greater product by more careful reduction at Newark gave a larger profit. In addition to this production of rich ore, 2,382|- tons of second and third-class ores were raised and worked at four mills, producing in refined bullion $546,691. The total cost of mining, hauling, milling, melting, assaying, and refining, with the reve¬ nue tax added, was $156,440, leaving the sum of $390,251 as the net proceeds, to which should be added the product of the 15 tons of rich 14s PAMS I'NIVEKSAL EXPOSITION'. ore soiit to Newark, a part of which was reserved for exhibition at Paris. The details regarding the production and costs, together with the aver¬ age and net yield of tin* ores per ton, are shown in the following state¬ ment from the report of Mr. Wells 1). Walbridge, made to the company in March, 1807: Result# of working Poor man mine from July 10 to Xovember 1, 1800. Name of milL i • a X 0 c c Refined bullion. Value of bullion. Average of bullion per ton. Remurks. Jackson mill. 369* | Ounces. 7, 860 20 Ouiices. 7,323 29 §25, 200 48 $68 25 Mostly third class gold rock. Ainsworth mill. 362* 34,592 53 33.178 52 62,220 81 171 88 87* tons third class; 274* New York and Oro Fino 771* 129, 542 51 116, 753 91 203, 586 71 264 05 tons second class. 40 to 50 tons third class; mill. New York and Owyhee 880 [ 156, 394 25 147, 960 17 255, 683 59 301 91 balance second class. All second-class rock. mill. Total value. $546, 691 59 Whole amount of rock produced and sent to mills. New York and Oro Fino Gold and Silver Mining Company, accounted for. 750j| New York and Oro Fine Gold and Silver Mining Company, not accounted for. 20£ Ainsworth Milling Company, as above. 3G2| Jackson Mill Company, as above. 309| New York and Owyhee Gold and Silver Mining Company, as above. 880 Total tons. 2,382| Cost of hauling 1,133£ tons to Sinker creek, at $8. $9, 008 00 Cost of hauling 1,249^ tons to Jordan creek, at $6 50. 8,120 12 Total cost of hauling. $17 188 12 Cost of milling 362^ tons at Ainsworth mill. $13,170 47 Cost of milling 750f tons at New York and Oro Fino mill. 30,030 00 Cost of milling 309^ tons at Jackson mill. n ? 082 07 Cost of mining 880 tons at New York and Owyhee Gold and Silver Mining Company. 35,200 00 Cost ot milling 204 tons at New York and Oro Fino Mining Company (balance). 820 00 Total cost of milling. $90,302 54 REPORT ON THE PRECIOUS METALS. 149 Total expenses at mine for labor, supplies, lumber, timber, &c.,less profit on money, $3,286 99 . $38, 707 74 Cost of refining and assaying bullion. 7,250 01 Internal revenue tax, in gold. 2,991 78 Net proceeds of 2,382f tons of rock crushed. $390,251 20 Value of bullion per ounce, refined, Jackson mill. $3 44 7 y 0 Value of bullion per ounce, refined, Ainsworth mill. 1 87-^ Value of bullion per ounce, refined, New York and Oro Fino mill. 1 74-fift Value of bullion per ounce, refined, New York and Owyhee mill--. 1 72J& Average yield of all rock crushed, per ton. 229 41 Net yield of all rock crushed, per ton. 163 34 All charges for mining, milling, &c., per ton. 66 07 The vein outcrops along the slope of a hill, and is reached by shafts and tunnels to the depth, in 1866, of 150 feet, and now, probably, (1867,) to a depth of 258 feet, by the completion of a lower tunnel 1,401 feet long. The best ore appears to be confined to one principal shoot or chimney between the north and south shafts, about 150 feet apart. No statistics for 1867 have been received. STAMP MILLS IN IDAHO. The number of stamp mills in operation in September, 1866, was 32, of which about three-fourths were propelled by steam. The aggregate number of stamps was 357, and the cost of erection was estimated at nearly $1,500,000. The following is a list of the quartz mills in the Territory in 1866, with their location, name, and number of stamps: Location. Name of mill. Number of 1 stamps. ALTURAS COUNTY. Bear creek . . Idaho. 32 Bear creek . Waddingham Gold and Silver Mining (in 10 Clifton ... Waddinffham C-rold pnirl Silvpr ATiinrr 40 Elk creek. ’’ “««iuguoui VJv ilA allU ijUVCi lulinilg V A) ____ Pitt.shlirp- flTlfl Tflflhn Tlnlrl onrl TVTininrr 10 Red Warrior creek . x. uiouuig aiiu. jLu.txLiu vjruiu. dim oiiver mining uo.. _ _ _ Harris & Benson _ 10 Red Warrior creek . New York and Idaho Gold and Silver Mining Co . 10 Red Warrior creek . Victor Gold and Silver Mining Co 20 Volcano. Defrees . 10 Yuba district. Bledsoe . 10 BOISE COUNTY. Centreville Raymond’s . Divide Summit Flat . 10 Elk creek . . Elk Horn . 8 Grime’s creek .. Bibbs, Jackson & Humason . 5 8 lf>() PAKIS rXIVEKSAL EXPOSITIOX. List of quartz mills , dv.—Continued. Locution. Name of mill. Number of stamps. ltoj$£ COUNTY—Continued. Idaho Citv. Pomlis Xr Pn . 10 Idaho Cit}’. Middleton. _. -. .... 1U Ice House gulch. Polling A Holliday... 12 Moore’s creek. Cobden Mining Co.. 2.1 Moore's creek. Van Wvek . . . . 5 Laugdou’s. OWYHEE COUNTY. Lincoln. 20 Cosmos. 10 Martin & Co... 20 Minear.. 5 Morning Star. 8 New York and Oro Fiuo. 10 New York and Owyhee... °0 Shoenbar. 10 Vass & Morse. 4 Ainsworth. . 10 Sinker creek. Ctrenzeback. 10 Webfoot. 5 COLORADO. There is evidence that Colorado will soon become celebrated for its silver as well as gold regions. It is asserted that not only large veins of argentiferous galena, but the true silver ores, such as the sulphurets, antimonial silver, and rich chloride, have been found in veins on the west side of the mountain range. According to Mr. J. I\ Whitney, the commissioner from the Territory to the Exposition , 1 u silver is found in all the gold mining districts of Colorado, associated with the ores containing gold; in the galena par¬ ticularly, which is found at times in considerable quantity. It is always present, but not sufficiently plentiful to be a feature of value in the gold mines; yet large masses have lately been obtained by the smelting pro¬ cess from ores considered strictly gold bearing, and it is quite evident that in the future, with the advantages of improved processes, this metal will be freelv obtained. But not until within the last two vears was it generally known in Colorado that immense belts of silver veins, sepa¬ rate from the gold, existed upon the western declivities of the Rocky mountain range, corresponding in their direction and general features with those of gold upon the eastern side. The prevailing great richness in silver in the ores of Griffith and Argentine districts, in Clear Creek 1 Colorado and its Ores at the Paris Exposition. REPORT ON THE PRECIOUS METALS. 151 county, npon the head-waters of South Clear creek, some 13 miles dis¬ tant from the towns of Central and Black Hawk, and correspondingly near to the snowy peaks of the range, first attracted particular atten¬ tion to the ores of silver. In these , districts silver ores of great rich¬ ness have been discovered, masses being exhibited at the Paris Exposi¬ tion from the Baker lode of Argentine district, and of the Elijah Hise and Indigo lodes of Griffith district, which assay respectively in silver alone $532 12, $1,656 20, and $1,804 83 to the ton of 2,000 pounds of ore. These veins were followed to an altitude previously unknown in mining experience in Colorado. Enterprising men were soon engaged in prospecting the corresponding regions upon the other side of the range, which resulted in the discovery of immense deposits of rich argentifer¬ ous galena. The black sulphurets of silver, antimonial silver ore, rich chlorides, ruby silver ore, and pieces of native silver, were found, and a new region, the extent of which has not yet been determined, was thrown open to the attention of all those who might have the curiosity to examine it. “That portion of the silver region first opened is situated in Summit county, upon the head-waters of the Snake and Swan rivers, which flow into the Blue river, a tributary of the Rio Colorado, which flows into the Gulf of California. An examination of the region a few miles south¬ west, in the neighborhood of Ten Mile creek, another tributary of the Blue, led to the discovery of still more wonderful exhibits of mineral wealth than were found in the Snake river region. Yeins of great width and prominence were found, which, in some instances, could be distin¬ guished by their discolored surface ores, when miles distant, seaming the mountain-sides like gigantic roads, measuring from 20 to 50 feet in width.’ 7 A later publication 1 by the same author states that “the commence¬ ment- of the great belt of silver mines in Colorado is apparently in Griffith and Argentine districts in Clear Creek county. From those dis¬ tricts the lodes are distinctly traced southwest for more than a distance of 30 miles. In the districts of Griffith and Argentine, where the mines are situated at a height between 8,000 and 10,000 feet above the level of the sea, the silver veins, though plentiful and of great richness, have not the prominence and width found upon the belt in its continuation southwest. In Snake River district the veins are found equally, if not more plentiful, but having on the average more than double the width of those in the Argentine district. In Ten Mile district, particularly upon Fletcher mountain, the veins are characterized by a width and regularity not yet observed elsewhere upon the Silver belt. Such is the richness of some of the surface ores, that specimeus can readily be found upon many of the veins which yield large globules of native silver when submitted to a strong .heat. In the immediate vicinity of Fletcher moun- November, 1867 ; immediately after the return of Mr. Whitney from the Territory. PARIS rNIVKRSAL EXPOSITION. lo 2 tain many silver nuggets have been t'ouiul; also (|iiantities ol* quartz, showing native silver, and all the evidenees point most conclusively to the existenee of large and rieli deposits of silver ore, which can only he obtained by systematic (U*velopment of their recesses. “The known silver mines are now easily reached by a series of roads, which have been built during the past two years, and settlements are rapidly being made upon them. In the vicinity of the silver mines nearest to the gold mines, a town has been built (Georgetown) within a very short time, containing a population of 2,500 souls, where reduc¬ ing works have been run during the past summer with great success. Unlike the first attempts made in Colorado to save gold, the silver works have been successful from the start. The works of Garrott, Martini* & Co., at Georgetown, of very simple construction and small capacity, have given in the past few months over two tons of silver, and have been running upon ore that has yielded from $200 to $1,000 per ton coin value. The works at Georgetown are insufficient to work more than a small quantity of the ore offered, and extensive arrangements have been made by various parties to put up additional works the following year. The prediction is made by the writer, that however large the yield of gold from Colorado will be in a few years, it will be equalled if not surpassed by the yield of silver. “The result attained by sending Colorado gold ore to the Swansea works in Wales has proved not only the great richness, but that the ore can be easily and economically worked. The 70 tons of ore sent, averag¬ ing by assay 8 per cent, of copper, 18 ounces of silver and 9 ounces of gold per ton, yielded a sum sufficient to pay the heavy expenses of team¬ ing six hundred miles over the Plains to the Missouri river, freights from the river to seaport, and by vessel to Swansea, all expenses of working, commissions, &c., and a surplus exceeding $0,000, in currency. “Tlie perfected process of Swansea is now being introduced into Colo¬ rado, and this winter will demonstrate its success there.” Argentiferous galena is found in many of the gold veins, but is more abundant in “Ten-Mile district, Summit county, than in any other sec¬ tion yet known. In that district it is, in some instances, found project¬ ing in large masses above the surface of the earth, upon the line of vein, and can be detached in a partially oxidized condition, in pieces weighing from 500 to 1,000 poimds. Upon Fletcher Mountain, thousands of tons could be easily gleaned from the surface; and but a short distance below the surface are large beds, the extent of which has not yet been ascer¬ tained. This galena is never found free from silver, yielding from 10 to 5(H) ounces to the ton of metal. “From some pieces of galena, fair average ore from a number of veins in Ten-Mile district, the following assays for silver were obtained by Dr. A. A. Hayes, State assayer, of Massachusetts: REPORT ON THE PRECIOUS METALS. 153 Ounces. Pennyweights. Grains. Pyramid vein. 81 13 8 per ton 2,000 pounds. Merrimac u . 08 12 0 Polygon “ . 266 8 0 Hard Cash “ . 108 2 12 “ “ Blackstone u . 85 18 6 Young u . 05 6 10 u u Tinsley “ . 178 17 0 Siberian u . 106 9 20 Augustine “ . 221 3 12 “ “ giving an average exceeding 130 ounces to the ton.” 1 ARIZONA AND NEW MEXICO. The silver mining region of the Territory of Arizona joins upon the Mexican States of Sonora and Chihuahua, and is traversed by the same ranges of mountains that bear so many rich silver veins in these States and in Durango and Zacatecas. The old town of Tubac was formerly the centre of the mining region of Arizona, and it is supposed that within a distance of 15 miles from it each way there are probably 150 deserted silver mines or openings. One of the best known localities is the Arivaca rancho, and seven miles northeast is the Cerro Colorado, in which the Heintzelman mine is located. This mine was worked at intervals for some years under great disadvantages, and is said to have yielded $100,000 up to January, 1860. This, as well as the Santa Rita, the Pata¬ gonia, and other mines, were abandoned, in 1862, on account of the con¬ tinued depredations of the Apache Indians, and work lias not since been resumed. , • In New Mexico there are important veins of argentiferous galena in the Organ mountains, about 15 miles from Camp Fillmore. Six different veins are described, all bearing argentiferous galena and copper ore. The average silver yield of the decomposed veinstone is about $70. Other samples assay from $20 to $500 per ton. Ores similar to those of the Organ mountains occur in the San Dia mountains, near Albuquerque. There are silver-bearing veins, also, at Los Cerillos, 15 miles from Santa Fe. Silver veins and ores are reported in the San Juan mountains, and specimens of slag from ancient furnaces have been found near Fort Defiance. 2 ATLANTIC PORTION OF THE UNITED STATES AND LAKE SUPERIOR. No silver veins, properly so called, are found east of the Rocky mount¬ ain chain within the limits of the United States, but considerable quan¬ tities of silver have been extracted from argentiferous lead ores at different localities, and have been found with the copper of Lake Superior. 1 Ibid., p. 50. 2 For further details regarding these arid other mines in New Mexico, see the volume on Silver Ores and Silver Mines, by the author; New Haven, 1861. PARIS I N IVI'RSAL EX POSITION". i;>4 The most important mines of argentiferous load ore are: the Silver Hill, or Washington mine, of North ('arolina; the Wlu*atley mines of Plueniwille, Pennsylvania; the Middletown mine in Connecticut; the Northampton lead mines in Massachusetts, and the Lubee mines in Maine. Mines of argentiferous lead have also been worked in Wythe county, Virginia. The Silver Hill mines in North Carolina were discovered about 1836, and were worked at intervals until 1852. The mine was then closed and was filled with water until about 1858, when it was reopened, but was’ again closed in 1861. Its production for 1844 is reported as $24,000 of silver, $7,253 of gold, and 160,000 pounds of lead. In 1851 it produced 56,896 pounds of lead and 7,942 ounces of auriferous silver, or an average of 11.2 ounces per ton of ore and 279 ounces per ton of lead. The ore is a mixture of argentiferous galena with zinc blende. Small quantities of silver glance have been observed by the writer, and an alloy of gold and silver of a pale yellow color like that of the Comstock lode. The Wheatley mines of Pennsylvania are not now worked. The engine shaft is 300 feet deep, and the total length of drivage is over 400 feet. At the time of the suspension of operations there in 1854 the aggregate pro¬ duction had reached 1,800 tons. The galena ores yield from 70 to 80 per cent, of lead, and from 15 to 120 ounces of silver to the ton, or from 26 to 30 ounces on an average. Lalce Superior .—Large masses of native silver are found from time to time imbedded in the midst of the masses of native copper of Lake Supe¬ rior, or are enclosed with it in the gangues. A variety of specimens was exhibited at the Exposition in connection with the display of Lake Supe¬ rior copper. It is very singular that the two metals are perfectly joined so as to form homogeneous masses without any commingling or alloy. Specimens were shown that had been sawn into two parts, each of which was formed half of silver and half of copper. It is impossible to ascertain the total production of silver from this source. Much of it was formerly stolen by the miners, and considerable amounts are reserved for specimens, or are worked up into table-ware without passing through any public channel. The following amounts from Lake Superior were deposited in the United States mint and branches for the years named: 1858 . 1864. 1859 1 (Sfin 1 ‘i U71 51 1860 . . 25, 880 58 1866. .... 22,913 96 1861. . 13,372 72 1867. 1862 21,366 38 1863 . . 13,111 32 Total.... .... $183,382 72 CHAPTER V. THE SILVER REGIONS OF MEXICO, CENTRAL AMERICA, AND SOUTH AMERICA Mexican Silver Region—Real del Monte Mining Company, and General Results of its Mining Operations—Details of Silver Ores Reduced and of Dividends Paid—Representation of Silver Mines of Ciiili at Paris—Ciianarcillo Mines—Tres Puntas—Total Silver Production of Chili—Production of Silver in Peru and Bolivia. MEXICO. It is to be regretted that the silver mines of this great silver-producing country were not represented in the Exhibition. In the year 1800 over 60 per cent, of the annual supply of silver to the world was drawn from Mexico, but the production has since greatly decreased. IJp to the time of the invasion of Mexico by Cortez, in 1519, silver does not appear to have been produced there in large quantities, though gold was very abundant. Thirty or forty years afterwards, silver mines were opened and worked at Tasco, Zultepeque, and Pachuca. In 1548 mines were worked in Zacatecas, and 10 years after in Guanaxuato. This was but the commencement of the great era of silver mining in Mexico, yet the annual yield at that time, according to an estimate by Humboldt, was not less than from $2,000,000 to $3,000,000. 1 It subsequently increased to $23,000,000 before the close of the 18th century. Between the years 1800 and 1810 the average coinage of gold and silver at the various mints in Mexico was $23,664,622 ; the ratio of the gold to the silver being, in value, as 0.05 to 1. During the war of independence the production was greatly lessened, and from 1810 to 1845 the average was not over $12,000,000 for silver and $100,000 for gold. Since that time the production has increased, and has been estimated by the best Mexican authorities at $23,000,000 in silver, and from $1,000,000 to $2,000,000 of gold annually. Mr. Phillips, in his recent work, says that the present annual produce of the mines cannot be much less than $26,000,000 in silver and $3,200,000 in gold. This estimate, however, appears to the writer to be much too high. It is well known that, during the civil commotion of the past four or five years, systematic mining has been neglected, and that the production in some sections has nearly ceased. In 1864 and 1865 many of the enterprising capitalists of California, stimulated by the great success of mining upon the Comstock lode, embarked in various silver mining enterprises in Chihuahua, Durango, and other States and districts accessible from the Pacific coast. Considerable quantities of silver and 1 Vide Silver Ores and Silver Mines, &c., compiled by the author; New Haven, 1861. PARIS INI YKlvSAL IMPOSITION. 156 silver ores were obtained; but in lS66-"67 most of these enterprises wore abandoned. There are no very reoent reliable statistics ot the silver production in Mexico, but it is believed not to exceed $1.1,000,000 for 1867. Tin* total produce of silver from the earliest period up to lSlohas been estimated by Chevalier at 162,858,700 j)ounds troy. Mr. Damson, in revising the statistics of the production of the precious metals in North and South America, gives tin* annexed tabular statements ol the produc¬ tion from 1804 to 1840, inclusive. 1 This is made up from the mint returns, the reports of British consuls, and from Duport. Production of gold and silver in .Mexico from 1804 to 1840, inclusive , (according to mint returns eited by Hanson.) Period. Silver. Gold. Yearly average. Silver. Gold. In seven years 1804 to 1810 . $159, 247,937 $9,181,767 9,187, 044 7, 076, 292 756, 058 4, 031, 384 $22, 749, 700 10, 070,100 9, 568,300 $1,311,600 483.500 661.500 In nineteen yenrq 1811 to 18^9 191, 331, 930 105, 251,446 12,781,747 66, 434, 638 In eleven years, 1830 to 1840. One year, 184' .. .... In five years, 1842 to 1846. Total in forty*throe years 13,286,900 806,270 535,047,698 30,232,545 To this total Mr. Danson adds an estimated production for 1847-48 of silver, $20,573,800; gold, $30,232,545; and, adopting the estimates of Duport, that one-fifth of the total silver production, and five-eighths of the gold production, do not pass through the mints, he gives the follow¬ ing resume of the total production of Mexico from 1804 to 1848, inclusive: Value of silver. Value of gold. Passiug through the lniuts_________ $561,621,498 140, 405, 374 $702, 026, 872 $31, 845, 085 53,075,140 $84, 920, 225 Not passing the ni inti*............ ...._............__........ In the Statesman’s Year Book for 1808, the present annual average production of the principal silver mining districts of Mexico is estimated as follows: Zacatecas. $0,000,000 Guanajuato. 2,000,000 San Luis Potosi. . 500,000 Guadalajara. 600,000 Mexico. 1,000,000 Durango. 1,000,000 $11,500, 000 Bars and silver exported secretly, add. 1 , 000,000 1 fide Journal Statistical Society of Loudon, xiv. $12, 500,000 REPORT ON THE PRECIOUS METALS. 157 The coinage of the mint has been 1857 . $5,318,000 1858 . 5,215,000 1859 . 5,485,000 1860 . 5,785,000 1861 . 5,384,000 1862 . 4,660,000 $5, 750,000 4, 660,000 4,060, 000 4,061,000 Total.$50,378,000 as follows since 1856: I 1863. 1864 . 1865 . 1866 . Or an average of over $5,000,000 annually. The coinage for 1867 is estimated at about $4,000,000. 1 REAL DEL MONTE MINING COMPANY. The most recent statistics accessible upon the Mexican mines relate to the veins and works of the Real del Monte company, situated about 60 miles north of the city of Mexico. The total profits of these mines in the last 17 years has been over $12,000,000, and a large part of it has been divided between the shareholders and owners. These data were supplied to Mr. Phillips by Mr. Buchan, and, as they are of great practi¬ cal interest, they are cited from the recent work of the former, page 284. There are now seven steam engines in operation for draining, with cylin¬ ders from 18 to 85 inches diameter. There are eight rotary engines for hoisting and driving machinery at the workshops, and 23 water-wheels at the different reduction works. The grinding or pulverizing machinery amounts to 350 stamp-heads and 74 arrastras, 24 driven by water-power and 50 by mules. There are 80 amalgam ating barrels. The total number of cargas of ore reduced yearly is 312,000, of which 206,000 are treated by the barrel process and 106,000 by the patio process. General results of mining operations by the Real del Monte company , in the districts of Real del Monte and Pachuca , in the year 1860. General expenses of management. $50,170 Cost of draining the two districts. 167,934 Cost of extracting ores from various mines. 647,338 Cost of reducing ores in different haciendas. 841,606 Duties on silver paid to the Mexican government. 173,587 Freight of ores from mines to reduction works, including cost of repairing roads. 186,503 Convoys of silver to the coast, or mint of Mexico. 14,877 Agencies, commissions, &c. 7,109 Total cost on current working of the mines.$2, 089,124 Total produce, 277,396 cargas of ore, from which were extracted 423,394 marks of silver, value... 3, 710,891 Profit on current workings.$1 621, 767 1 Mexican Standard, November 1J, 1867. I’AKIS I NIVKKSAL exposition. i;»s Tlu* above profit was applied as follows: Reinvested in discovery works in different mines. $181,052 Reinvested in enlarging and improving works for the reduction of ores. 73,120 Purchase of forests for fuel. 31,000 Post of maintaining a force of 150 cavalry and 50 infantry, necessary for the security of the districts during the civil war. 00,000 Paid as dues to part owners of mines. 353,070 Paid as dividends to shareholders of the company. 023,525 Total.$1,021, 707 Table of stores consumed during the gear 1800. Timber from forests belonging to the company.... $30,000 Wood fuel. 200,000 ('harcoal. 00, 000 - $200,000 Salt. 150, 000 Quicksilver. 100,000 Iron and steel. 50,000 - 300,000 Parley and straw. 100,000 Tallow and oil. 40,000 Gunpowder. 15,000 Sulphate of copper. 14 , ooo Sacks and cordage. 18,000 Lime and bricks. 10,000 Litharge. 13,000 Leather and hides. 15 ooo Sundry stores. 45,000 - 270,000 Total. $860,000 Table showing the details of silver ores reduced by the Real del Monte company, in the districts of Rea l del Monte and Rachuca , from May, 1849 , when the present company was first formed, to the end of the year 1865. Years. Ores reduced by smelting. Ores reduced by barrel amalgamation. Ores reduced by patio amalgamation. Total each year. U * / , \ N 63° E fj3° n N\y Candelaria. Near Sun Dimas. iln N.45° E... 75° SE. 20 feet. .do. Galena, blende, gold. Cinco Do Mayo... Near Zaragoza. Sienitic granite. N.52° E... 75° N W. 4 feet. .do. Galena, blende, iron pyrites, brittle silver glance, native silver. _ q N. 20° \V .. 4,i° E.NE . 1 to 4 feet.. Quartz. Galena, blende, iron pyrites. .do. N. 10° W-. 80° E. 2 to 8 feet.. Chalcedonic quartz. Galena, blende, copper pyrites, ng. 7. A large mass of dendritic crystals of sulphuret of silver. S. Calcite penetrated by wire silver, exactly as native copper pene¬ trates the calcite at Lake Superior. In addition, there were some specimens of the stamped and dressed ores. The washed product contains 90 per cent, of silver, the sclilichs from 1 to l-30th of 1 per cent, of silver. The best ores may be said to con¬ tain 50 to 60 per cent, of silver, and the second class from 2 to 5 per PARIS UNIVERSAL EXPOSITION. 18G cent. Some large masses of native silver of irregular form attracted great attention. Pieces have often been found that weighed 100 kilo¬ grams, about 220 pounds, and some even much more. In June of this year (1867) a single blast threw out one mass of native silver mixed with sulplmret weighing 100 kilograms, (352 pounds,) and another weighing 125 kilograms, (275 pounds.) A specimen from these mines in the royal collection at Copenhagen weighs upwards of five hundred pounds. SWEDEN. After iron, the principal metals of Sweden are silver, copper and lead. The first two were formerly produced in much greater quantities than of late years, but the production of lead has recently increased so much that it is exported. It is obtained chiefly in the extraction of silver from galena. The principal silver mine is at Sala in Westmannia, and yielded 1,820 pounds of pure silver in 18G5, but in the 17th century it was one of the most productive in Europe. 1 This mine is said to have been worked over 500 years ago, and to have yielded in 1506 35,000 marks of silver (about 10,600 pounds troy.) It was re-opened in 1623, and in 1830 was said to be yielding 1,700 marks annually. The ore is a highly argenti¬ ferous galena. Two other silver mines were worked in 1767, viz: Hellefors in the province of Wermland, and Segersfors in Nericia, but no account of them is given in the recent statistical publication by Ljungberg. TURKEY. The Ottoman government made extensive exhibitions of argentiferous lead ores from the following mines and localities: Mines of Hazme, Maghara, Ilydgr, Hias, Palata, Hassan, Ananias, Tirvir, Essad, Agha, and Koptcha; so, also, from Silvas and Amasia, and from Biga, Khodavend- higer, from the mines of Djerbiler, Milli, Kara Dagb, and-Elmadjik. ALGERIA. The following mines and mining companies were represented by col¬ lections and specimens at the Exposition: Kef-oum-Tliebad —Silver lead company, Constantine.—Silver lead ores. Djidjeli —Constantine, (S. Trabet, exhibitor.)—Iron, silver, copper and antimony ores. Rouban, Gas Mines Company. —Silver lead ore. Blidah Mines Company. —Copper and silver lead ores, and an ingot of silver. PhillipeviUe —Constantine.—Silver lead ore. 1 La Suede, sou development, moral, industriel et commerciel, d’apres des documents officiels, par C. E. Ljungberg. Traduit par L. de Lilliehook. Paris, Svo, I8U7. REPORT ON THE PRECIOUS METALS. 187 CHINA. Mr. Williams states that from a memorial addressed to the Emperor of China, in 1838, it appears that most of the native silver is obtained from mines at Hoshan, in Yunnan, in the department of Tsiangehau, and at Sungsing on the borders of Cochin China. These mines are farmed out by the government to overseers, and between forty and fifty thousand workmen are employed in them who annually produce not far from 2,000,000 of taels of silver. There are other mines not so rich as these two, but which produce large amounts. 1 It is further observed that it is impossible to even guess what China receives annually from her gold and silver mines. The following are some of the localities of silver, but many of them, probably, furnish only argentiferous lead. 2 PROVINCE OF CHIHLI. Shuntien (Fu) or Pelting. —Silver at Mount Yunyen, 15 li south of Meyun, (hien.) Silver at Sz’ling 100 li 3 northeast of Meyun. Yungping , (Fu.) —Silver 130 li northwest of Tsiengan, (hien;) silver at Mount Tsu, 15 li west of Lulling, (hien.) Also at Mount Yuhwang, 90 li northeast of Funing. Siuenhwa , (Fu.) —Silver in Yu, (chau.) PROVINCE OF SHANSI. Kiai : (chau.) —Silver in Ngani. In Pingloh (hien) silver in several localities. PROVINCE OF SHENSI. Singan , (Fu.) —Silver; also at Shang, (chau.) PROVINCE OF KANSUH. Pingliang , (Fu.) —Silver and copper in Pingliang, (hien.) Silver and copper in Hwating, (hien.) Kungchang , (Fu.) —Silver and copper at Mount Ningkwei, 30 li south of Ningyuen. Tsin, (chau.) —Silver at Mount Tayang, 50 li northeast of Liangtang, (hien.) Silver in Tsingshui (hien.) PROVINCE OF SHANTUNG. Icliau , (Fu.) —Silver in the vicinity of gold ores at Mount Pau, 90 li southwest of Lanshan, (hien.) Silver with gold and tin at Mount Chipau, 100 li north of Ku, (chau.) Chinese Commercial Guide, 4th edition. Canton, 1856, p. 295. 2 This list is compiled from the volume entitled Geological Researches in China, Mongolia, and Japan, by Raphael Pumpelly. Smithsonian contributions ; October, 1866. 3 One li equals 1,897| English feet, or 2.78 li a mile. A modern li, however, is one-tenth °f a French league, or 1,460.44 feet. 188 PARIS UNIVERSAL EXPOSITION. Mnngying , (hien .)—Silver at Mount Leans'll ion* Tsingchau , (Fit.) —Silver, lead, copper, and gold sands at Mount Tung, 60 li southwest of Linku, (hien.) PROVINCE OF NGANHWUI. Hicuiehau .—Silver and lead. PROVINCE OF SZ’CHUEN. Mien , (cliau .)—Silver and tin. Xingyuen , (Fit .)—Silver at Mount Miloh, 200 li east of Hwuili, (chau;) also, at Mount Kosowa. PROVINCE OF KIANGSI. Kwangsin , (Fit .)—Silver at Yoyang, (hien,) and Yushan, (hien.) Kiengchang , (Fit .)—Silver in Nan t sung. Fuehnii , (Fit .)—Silver in Kinki, (hien.) Link king^ (Fit .)—Silver in Sankau, (liien.) PROVINCE OF HUNAN. Changsha , (Fit.) —Silver, copper, lead, tin, and quicksilver. JIangchau , (Fit,) and at Ynngeliau , (Fit .)—Silver and tin. ranking , (Fit.) —Silver. Kweiyang , (chau,) and at Yocliau , (Fit.) —Silver, copper and lead. PROVINCE OF CHEIIKIANG. Taichau , (Fu .)—Silver and lead at Mount Tientai and Mount Tsz’nien, in Tientai, (hien.) Kuchau , (Fu .)—Silver ore, yielding $300 to the ton, at Mount Yin- kimg, in Changshan, (hien.) Silver, also, at Mount Yinkuug, in Suin- gan, (hien.) Yenchau .—Silver at Mount Yin. Wanchau (Fu .)—In Pingyang, (hien.) Silver at Mount Cliauki, Mount Ts’zye, and Tientsingyang. Silver on the Cliauchi river, in Tisung (hien.) PROVINCE OF FUIIKIEN. Kienning , (Fu .)—Silver in the hiens, Kienngan, Kienyang, Pusung and Tsungho, Tingchau, (Fu.) Silver at Lungmuntsang, in ISTinghwa, (hien.) Silver at Wangpeitsang and Yganfungtsang, in Tsangting, (hien.) PROVINCE OF KWANGTUNG. Ktcangchau , (FuJ or Canton .—Silver at Tashui Kung, in Nanhai, (hien,) and at Peyinkung, in Sinhwui, (hien.) Liencliau , (Fit.) —Silver. Lead and cinnabar in Yangsliau, (hien.) Shanking , (FuJ and Kiungchau , (Fit.) —Silver. PROVINCE OF KWANGSI. Kiceilin, (Fu .)—Silver and cinnabar. Liuchaitj (Fu .)—Silver in Siang, (chau.) REPORT ON THE PRECIOUS METALS. 189 Kingyuen , fFu.J— Silver at Mount Mongin, 35 li northwest of Sochi, (chan.) pingloh , Silver in Pingloh, (hien.) Silver and tin in Fucliuen, (hien.) Silver at Taipingyintsang in Ho, (hien.) Sinchau, fFu.J— Silver and lead in Kwei, (hien.) PROVINCE OF YUNNAN. Tsuhhiung , fFtoJ—Silver in Kwangtnng, (hien,) and at Soyangtsang and Malungtsang, in Ngan, (chau,) and with lead at Yuntsungtsang in Tsuhhiung, (hien.) Kwangsi , fcliau.J —Silver and lead at Mount Peting. Kiuhtsing , fFu.J —Silver and lead at Mount Yang, west of Siuenwei, (chau.) Wuting, fcliau.J —Silver at Sutsuweitsang. Publi, fFu.J —Silver at Penia, Kanku, and Mantau, in Sihma, (ting. Yungchang and Tungchuen , fFu.J —Silver. Ghautung , fFu.J —Silver at Lutientsang and Lomatsang, at Tungput- sang in Chinhiung, (chau,) and at Kinshatsang, in Ynnseh, (hien.) JAPAN. There are no reliable statistics or estimates of the amount of silver produced in this empire. There are rich silver veins in some of the islands, and particularly at Sado, where mines have been worked for a long time. It is certain, however, that at the present time a large part of the silver used at the Japanese government mints in the coinage of itzeboos is supplied by Mexican dollars, and other foreign silver coins, taken in exchange at the custom houses. Formerly, during the period of the Portuguese and Dutch trade, large quantities of silver were drawn from the country in exchange for Chinese commodities. The Portugese trade continued for 90 years, ending in 1638. For about half of this period they sent only one ship in each year, and she returned with about 600,000 crusados, about as many dollars. 1 If we allow that the annual trade for the whole period averaged $500,000 a year, a low estimate, the total export of silver was $45,000,000. The trade with the Dutch began in 1609, and it so rapidly drained the country of its bullion that it required government interference, and the export of silver was prohibited. According to Arrai Tsikugo-no-kami, 2 the exports of silver from 1611 to 1706 amounted to 112,268,700 taels, 3 about $161,343,500. Among the exports by the Dutch, during the last year of tlieir occupation of Desima, were 1,400 chests of silver, each containing 1,000 taels, or nearly $2,000,000. : Vide the account of the Portuguese trade by Ralph Fitch, cited by Hildreth. Japan as It Is and Was, p. 206. 2 Origin of the Riches of Japan, (1708.) Translated by Klaprotb ; Nouveau Journal Asiatique. 3 The Chinese tael is worth about $1 40. PLATINUM AND OTHER METALS CHAPTER VII. PLATINUM, PLATINUM APPARATUS, PLATIN-IRI- DIUM, AND OTHER RARE METALS. I Exhibition of Platinum from Russia—Production of tiie Metal—California and Oregon—Analysis of the Mixed Metals from Port Orford—Platinum Stills and other Apparatus exhibited by Johnson, Matthey & Co. —Large Platinum Ingots—Platinum Assay Apparatus—Magnesium—Iridium—Osmium—Series of Metals in Specimens of Equal Weight—Medals Awarded—Quicksilver Ores of California and Spain—Production of Pacific Coast Mines. RUSSIA. Paul Demidoff, of the government of Perm, exhibited a variety of samples of native platinum from various localities on his mining estates. One of these specimens was a nugget of the metal, six inches in its great¬ est diameter, weighing 11^ livres, (13 pounds troy.) Some of the samples were in line grains and scales as separated from placer gold by amalgamation. This platinum is refined at the establish¬ ment of tin* exhibitor and sold at the rate of 3,100 roubles (12,400 francs) the pood, (10.380 kilograms,) delivered free of charge at Paris. There are 20 localities of platinum known upon the estates of this exhibitor, and the production of the washings since 1825 has been about 3,105 poods, but a great part of the localities are reserved. This amount corresponds to 50,850.9 kilograms, or 1,635,993.45 troy ounces. Its value, at 3,100 roubles per pood, is about $7,700,400. A very interesting exhibit of native platinum, and the metals which usually accompany it, was made by the St. Petersburg mint, (Ho. 505 of the special Russian catalogue.) This collection consisted of— Roubles. 1. a Native platinum, value per livre. 42.02 b Refined platinum in the state of sponge and in ingots_ 62.50 2. lh’oducts of refining platinum— a Iridosmine, value per zolotnik. 0.85 b Insoluble precipitate [residue]. 0.10 3. Metals of the platinum group— a Iridium, ruthenium, osmium, rhodium, and palladium, in a pure state. b Precipitated. REPORT ON THE PRECIOUS METALS. 191 Various articles manufactured of platinum and used in the laboratory of the mint, such as crucibles, spatulas, spoons, wire and retorts, were also shown. Platinum occurs at many places in the gold region of the Urals, but prin¬ cipally at Nijne-Taguilsk, and in the district of G oroblagoclat. The mines of Demidoif are at Taguilsk. The production of this metal up to the year 1834, according to M. Tegoborski, amounted to 103 poods and 24 livres? and the annual production was afterwards increased, but in 1847 it had diminished to 18 livres, 92 zolotniks, representing a value of 2,250 roubles. Tckevkine and Ozersky estimate that since the discovery of the metal in 1824 up to the year 1851, there had been 2,0G1 poods produced, of which 1,990 poods came from Mjne-Taguilsk alone, and 32 poods from Goroblagodat, and the remainder from the different gold washings of the Urals. 1 The official information furnished at the Exposition shows that the production has greatly diminished since the government ceased to use the metal for coins, and that the annual production now varies from 30 to 140 poods. The following is the production for the years named: Poods. Poods. 1860 . 60' 1862. 142 1861 . 105 1863.. 30 This is an average of about 44,390 troy ounces, or 3,700 pounds troy per annum. The pepite shown in the Demidoff collection is not the largest that has been found. One has been obtained weighing 16 pounds, and another nearly 23 pounds. Many of the nuggets shown at the Exposition pos¬ sessed polarity in a high degree, and were so highly magnetic as to attract and hold iron filings like magnetic iron ore. This metal was formerly coined by the Russian government into pieces of 11 and 22 roubles each, and the amount coined from 1826 to 1844 equalled $2,500,000. 2 CALIFORNIA AND OREGON. Grains and scales of platinum and the associate metals occur sparingly with the gold in almost all parts of the California gold field, but they are most abundant in the northern mines. At Port Orforcl and its vicinity, on the coast, these metals constitute a very large part of the product of the washing of the black sand of the beach for gold. The metals can¬ not be separated by washing, and the gold is extracted by the aid of quick¬ silver. The residue consists of minute scales and grains of platinum and platin-iridium, most of which are lifted by a magnet. This mixture was first brought from California by the writer in 1854, and an analysis 1 Vide Dalloz, ii, pp. 360, 361. 2 Dana’s System of Mineralogy, p. 13. 'AIMS UNIVERSAL EXPOSITION. 192 of it by Mr. Charles A. Kurlbaum, jr., in Dr. Genth’s laboratory, showed it to have the following composition : 1 Insoluble in aqua regia, osmiridium. 48.77 Gold. 1.3*2 Platinum. 43.54 I Silver. 0.13 Iridium. 0.60 Copper. 0.3*2 Rhodium. 0.‘28 j Lead. 0.03 Palladium. 0.49 Iiron. 4.52 GREAT BRITAIN. Although this country does not produce platinum and the associate rare metals, the honor of working them into the most perfect and largest vessels for economical uses must be given to its artisans. The most prominent and interesting display of the precious metals, including pla- tina in its raw and manufactured state, at the Exhibition, was made by the firm of Johnson, Matthey & Co., of Hatton Garden, London. The various objects exhibited are enumerated in the following descriptive list prepared from the data given in the circular furnished by the firm: PLATINUM APPARATUS. Platinum stills and syphons. —One still to concentrate 8 tons (8,000 kilograms) of sulphuric acid per day. Value £2,500, (02,500 francs.) One still to concentrate 5 tons (5,000 kilograms,) of sulphuric acid per day. Value £1,640, (41,000 francs.) These stills comprise several new improvements, the most remarkable of which is that they are made without gold-soldered joints, so that the whole boiler is formed, so to say, of but one solid piece of metal. This is effected, by autogenous soldering, which important improvement not only renders these vessels stronger, more durable, less liable to leakage and want of repair, and less costly than those made upon the old plan, but also enables the gauge of the metal to be regulated in accordance with the wear and tear to which the different portions of the still are exposed, saving unnecessary weight of metal where thickness is not required. These magnificent specimens of autogenous soldering deserved a minute and careful examination. The metal of which these boilers are manufactured is of absolute chemical purity. Platinum syphons. —The improvements shown were of considerable importance. By means of the ball and socket joint the tubes can be adjusted to any required angle, and can be removed with facility. The platinized bronze clamps formerly used, which constantly required renewal, are entirely dispensed with. To facilitate packing and clean¬ ing. the branch tubes are also made with double joints in the middle. Improved platinum syphon. —For use in gold and silver refineries. Platinum alembic. —For use in mints, refineries, and chemical manu¬ factories; generally employed for the separation of gold and silver, but so constructed as to be capable of adaptation to all ordinary purposes Value £500, (7,500 francs.) By the use of such an apparatus irot only Report of a Geological Reconnaissance of California, p. 300. REPORT ON THE PRECIOUS METALS. 193 is great economy and rapidity effected in refining, but this operation is conducted with much greater certainty and safety. Platinum still-head and arm —Of a new shape for sulphuric acid boilers. By this simple alteration an immense saving is obtained, the production of concentrated acid is increased, and the weak acid which is condensed in the leaden worm is reduced in strength 30 per cent. Platinum distilling apparatus and tube. Platinum ingot —Prepared of chemically pure metal and forged in one mass. Value £1,100, (27,500 francs.) With such an ingot a whole body of a 5-ton boiler (such as was shown) can be manufactured. Model of an ingot —Of pure platinum melted by Messrs. Johnson, Matthey & Co., by the heat of the compound blowpipe. Weight 3,250 ounces, (100 kilos.) Value, £3,400, (85,000 francs.) This enormous ingot was melted for the Exhibition of 1862, where it was exhibited for six months. Pure platinum melted —By the intense heat of the compound blowpipe. Three ingots, value, £540, (13,000 francs.) Platinum tubes. —These tubes are made of every length and size, and autogenously soldered. In strength and durability they are superior to those made with gold solder, and also to those made by pressure, as they escape the severe strain which the thick metal, of which pressed tubes are necessarily made, must undergo. Platinum steam coil —Made of pure platinum tubing autogenously sol¬ dered. Value, £800, (20,000 francs.) Manufactured for Messrs. Crosse & Blackwell, and used by them for boiling their pickling vinegar. The length of the tube was about 32 feet, (9.660 metres,) diameter 1£ inches (4 centimetres.) They also exhibited an aluminium steam pan for boiling preserves. Platinum wire —Sheet, foil, gauze, crucibles, capsules, dishes, pans, lightning conductors, &c., &c. Platinum plate —Soft, half-hard, and hard. Platinum assay apparatus —By the use of which gold assays can be made with the greatest accuracy and rapidity. Iridio-platinum —(Matthey 7 s alloy,) expressly prepared for vents or bushes for heavy ordnance. One vent, loaned by Mr. Whitworth, was exhibited in section. It has fired 3,000 rounds from a Whitworth can¬ non, and scarcely shows wear. Platinum in various forms —Native, sponge, alloy, salts, plated on cop¬ per and on silver, for scale pans and philosophical instruments. Plati¬ num granulated and alloyed with iridium, 10, 15, and 20 per cent. RARE METALS AND COMPOUNDS. Precious and rare metals —In the native state and in prepared forms. These formed a series of cylinders weighing one kilogram each (about *13 a 194 rAlilS UNIVERSAL EXPOSITION. two pounds) of tlu* following noble, rare, and common metals of chemical purity and cast in a symmetrical form to demonstrate to the eye their respective specific gravity and their characteristic qualities when cast: Gold, silver, platinum, iridium, rhodium, osmium, palladium, lead, bis¬ muth, copper, cadmium, cobalt, nickel, iron, antimony, zinc, magnesium, aluminium, thallium, sodium, mercury. Samples and preparations of rare metals, and of the noil-metallic ele¬ ments, boron and silicon. &odium amalgam —As used (under the patents of W. Crookes, esq. F. K. S.) for the extraction of gold and silver from their ores. Magnesium in ingots, plates, bands, rods, wire, ribbon, lamps, Ac. Chemical and metallurgical products. —Nitrate silver, in all commercial forms, chloride of gold, salts of platinum, iridium, rhodium, palladium, gold, silver, copper, cobalt, cadmium, lead, antimony, arsenic, mercury, nickel, tin, zinc, &c. A series of the salts of uranium. —New colors for enamel painting, chromo-lithography, and decoration, manufactured by an entirely new process, by means of which great brilliancy, durability, and harmless¬ ness are insured at a less cost than that of ordinary colors. A series of native gold specimens, nuggets and dust from various parts of the world, illustrating their various characteristics and natural forms. A series illustrating the two processes of refining the precious metals, and preparing them for coinage and for manufacturing purposes, showing the various crude forms in which they reach England; the metals and their solutions; the various stages of the refining and melting processes. Also the secondary products—the pure salts and metals, and the condi¬ tion in which they are delivered over for coinage and other purposes. The total value of the whole series was estimated at £20,000, or about $ 100 , 000 . The large platinum stills are nearly four feet in diameter, and they are splendid specimens of the art of w orking this metal, which is now based upon the production of large homogeneous ingots by fusion before the oxyliydrogen blowpipe. It is stated by the exhibitors that the ingots, which are about as large as common bricks, were melted according to the method of St. Claire De\dlle and Debray. This method is one of the direct gifts of science to the arts, and was first proposed by Dr. Hare of Philadel¬ phia, who, in 1837, melted 28 ounces of platinum into one malleable homo¬ geneous mass. The platinum assay apparatus appears to be a great improvement over the apparatus in ordinary use, and it is said to give more exact results. It consists of tw T o shallow kettles of platinum, about a foot across the top. set in holes, in a jdatform, like those in the top of a stove, so that heat from a gas-lamp can be applied below. The nitric acid for dissolv¬ ing the silver out of the assays is placed in these kettles and heated. A frame of platinum made to fit the interior of the kettles is divided by thin partitions into 200 or more little compartments, into each of which REPORT ON THE PRECIOUS METALS. 195 a little platinum cup is placed. These cups are about as large as a child’s thimble, and are intended to hold the assay. They are made so as to be easily taken out or replaced in the frame, and the bottom is pierced with fine slits at right angles, so that the hot acid can enter when tliey are lowered with the frame into the kettle, and so that the acid may drain out when the frame, with contents, is raised. By means of this appara¬ tus the pouring off of acid and the separate washing of each assay is avoided. It has been in use for five years in the laboratory of the firm with complete success. The whole apparatus, with two kettles, is about two feet long and 13 inches wide. A porcelain hood covers the kettles and condenses the acid vapors, discharging them into a vessel at one side. The same firm exhibited a block of pure magnesium, weighing five kilo¬ grams, about 11 pounds. The metal was also shown in large quantities in the shape of foil for galvanic batteries, ribbons for showing the mag¬ nesium fight, and in coils of wire of various sizes. Iridium , osmium , and other rare metals .—This display of the rare met¬ als was the most complete that has ever been made, both in number and in quantity. Some of the rarest elements which are seldom seen, even in small grains, were here shown in massive ingots. A bar of platin- iridium, nearly three inches long, was solid, compact, and homogeneous. This is the second which has been made, and it was formed by melting up small grains not much larger than the tips of a gold pen. This alloy has been made by Mr. Matthey for the vents or bushes for heavy ord¬ nance, for which it is peculiarly fitted by its great hardness and inde¬ structibility. The bar of osmium presents a totally different appearance from the iridium, and resembles a mass of ordinary coke. Ruthenium is the only one of these extremely rare metals which is shown in small quantity, being represented by a few masses about the size of peas. In the series of metals cast in rods, weighing one kilogram each, for the purpose of showing their bulk relatively to their weight, the metals which oxidize rapidly on exposure to the air, and quicksilver, which is fluid at ordinary temperatures, are confined in glass tubes. These tubes have the same internal diameter as all the rods of the series—about one inch. The platinum cylinder is about four inches long; the quicksilver about seven inches; and the others elongate by a very regular gradation up to the metal aluminium, which towers two feet above the metal which pre¬ cedes it, and is in its turn overtopped by the rod of magnesium, which is nearly four feet long—about twelve times longer than the platinum cylinder of the same weight. The firm which made these interesting and instructive exhibitions received three medals, two of gold and one of silver, as follows: “For progress in metallurgy and refining the precious metals,” a gold medal. “For improvements in the construction and manufacture of platinum PARIS UNIVERSAL EXPOSITION. 196 sulphuric acid stills and apparatus, and for perfection in working the precious metals,” a gold medal. “ For nitrate of silver, chloride of gold, and chemical and metallurgy c;d preparations,” a silver medal. QUICKSILVER OF SPAIN AND CALIFORNIA. In the mineral exhibition made by Spain there was a series of large and splendid specimens of cinnabar and of native quicksilver, which fully illustrated the celebrated mine of Alinaden. This was by far the finest display of quicksilver and its ores in the Exposition, and was cal¬ culated to impress all who saw it with the superior richness of the mine. The ore is not so brilliant and high-colored as the cinnabar of the New Alinaden mine, in California; it is brownish and brick-red, looking more like peroxide of iron. The Alinaden has been worked since three centuries before the Christian era, and it produces from 20,000 to 22,000 Spanish quintals (2,000,000 pounds to 2,235,000 pounds) of quicksilver annually. The statistics for 1862-’63 show that 113,266 metric quintals of ore were extracted, and that 2,413 workmen were employed. The collections from the Pacific coast contained suites of specimens from the New Alinaden mine; the New Idria, in Fresno county; and from other localities in California, and several interesting specimens from a new locality in Idaho. These last consisted of carbonate of lime—lime¬ stone—with disseminated patches and nodules of cinnabar of great purity and high color. Quartz is not present. Carbonate of lime appears to be as much the gangue or vein stone of cinnabar, as quartz is of gold. The following data upon the present production and export of quicksilver in California are from the Mercantile Gazette and Annual Review for 1867: u With the opening of new mines and the extension of those already opened, the capacity for the production of this metal in California is being rapidly enlarged. In fact, enough could easily be turned out here to supply the requirements of the whole world without severely taxing the energies of the mines now being worked or in course of development. In fact, it is the question of a market rather than the supply of ore that most concerns the owners of these properties; and since this is an arti¬ cle of limited use, being restricted to a few specific purposes, the con¬ sumption is not, like many other commodities, greatly affected by the price. With the extension of mining operations and the arts of civilized life, there must, of course, be a corresponding increase in the demand for this metal, yet these are slow and inconsiderable compared with the rapid increase in the power for producing it that is going on in this State. “ The New Alinaden mine, which has now been worked nearly 18 years, with a steady increase of productive power, when worked to its full capacity, is still turning out at the rate of over 30,000 flasks annually, the ore deposits being abundant, with large reserves extracted and retained for reduction when the demand may call for it. The total yield REPORT ON THE PRECIOUS METALS. 197 of this mine since it was first opened approximates half a million flasks, worth, at the lowest calculation, $20,000,000. This company has a capi¬ tal of $10,000,000, employ a force of about 1,200 hands, and are subject to an average yearly expenditure of over $700,000. About one year ago the company made large additions to their reduction works, increasing their capacity and introducing many valuable improvements, whereby they have been enabled to treat with profit a lower grade ore than before. The New Idria mine, situated on the easterly slope of the coast range, in the western part of Fresno county, after having been restrained from being worked for several years through legal proceedings, resumed oper¬ ations over a year ago, since which time it has been worked vigorously, and with success, nearly 300 hands having been employed, and the ore yielding about the same per cent, of metal as that from the New Alma- den mine. About 12,000 flasks of quicksilver are turned out at this mine annually, and the ore deposits are represented as looking extremely favorable. At the Chapman or San Juan Bautista mine, recently opened on Chapman’s ranch, three and a half miles south of San Jose, furnaces have been erected capable of reducing 17,000 pounds of quicksilver per month. About 1,000 tons of ore have been raised, which yields at the rate of 10 per cent, of metal, and the deposit in the mine appears to be large. This mine is turning out about 300 flasks of metal per month, a rate of production that it is thought can be kept up and perhaps largely increased. The Redington mine, situate in Lake county, about 50 miles north of Suisun City, employs 200 men, and is turning out about 1,000 flasks of quicksilver monthly. Extensive improvements have been made at this place, and it is considered a valuable property, as the deposits are extensive and the ore of fair grade, while the facilities for insuring econ¬ omical reduction are many. In Pope valley, Napa county, a valuable deposit of quicksilver has been developed within the past year. Quite recently furnaces having a capacity for reducing eight tons of ore daily, with other works, have been erected at this place, all of which, should first trials warrant, will be largely added to the ensuing spring. ######### “The three year contract purchase expires in April next; during its existence the product of the State has been largely increased, not only hy the companies interested, but by the resumption of the New Idria Company, long closed by an injunction issued out of our courts. At present the monthly production of the New Almaden Company is pdaced at 2,500 flasks—Redington Company upwards of 1,000. The Chapman Company is largely owned and controlled by same stockholders, will soon produce 300 flasks monthly; besides these, the product of the New Idria and the Guadalupe, and others about commencing operations, must be added; it is safe to place the total monthly production of the State at upwards of 4,000 flasks, or say 50,000 in 1868. Of the entire product of the State since the first opening of the mines we have no reliable data as to quantity. Our first exports of which we have any knowledge 198 PARIS UNIVERSAL EXPOSITION. were in 1852, when 900 flasks were shipped abroad; in 1853, 12,737 flasks; increasing rapidly until 1859, when government took possession of the New Almaden mine, then the exports declined in that year to 3,309 flasks as against 24,142 the year previous. In 1860 but 0,448 flasks were exported, but in the year following work was again resumed at the mine, and shipments at once increased to about 36,000 flasks, and have continued to this date upon a liberal scale, so that for a period of 15 years we have sent abroad about 390,000 flasks, of the approximate value of $16,000,000. The present stock in the State is upwards of 10,000 flasks. The export price during the continuance of the three- year monopoly was, we believe, uniformly 55 cents, and for local use 60 cents per pound. The contracting parties referred to have themselves been large exporters during the entire period of their contract, and have, to a considerable extent, had the monopoly of the markets of the world— at least those available to us—aud when any disposition was shown by outsiders to purchase for export, the proposed destination was required before naming the price—hence the difficulty for months past of giving any reliable market quotation. The companies, books, and operations generally, as well as actual products of the mines, have all been closed to the outside world during the entire contract period of three years. What is to be the future of the market we know not, but from present indications prices are likely to rule low, chiefly for the want of an outlet commensurate with the increased product of the State. The local con¬ sumption of the coast has been computed at about one-third of the average production. In regard to the Redington Quicksilver Company, no new facts of general interest have transpired since last year. Two hundred men are now employed; the production for the incoming year estimated at 1,000 flasks per month—if ore should improve it will be larger; with ore of present grade and with present capacity of works and force employed will produce somewhat over 1,000 flasks monthly, while by enlarging works and increasing number of hands, could, with present class of ores, produce much more, but it is no object to do so at present prices, or rather limited consumption, for the real trouble is want of an enlarged market. Deposits of ore in this mine are no doubt extensive, and thus far have proved of fair grade. Facilities for working the mines and reducing the ores are good, with railroad transportation, of which there is a prospect at an early day, the cost of shipment to market will be materially reduced.” The following are the receipts of quicksilver in San Francisco for each month during three years to 1868, and the sum total thereof as far as can be ascertained. These receipts came over the San Francisco and San Jos£ railroad, and include the New Almaden, New Idria, and Chap¬ man mines. The parties interested in other mines withheld their figures for reasons best known to themselves, but those given are a fair criterion of the pyjd'ict of this metal during 1867. The receipts were as follows: REPORT ON THE PRECIOUS METALS, 199 Production of quicksilver in California. 1865. 1866. 1867. ■ Flasks. Flasks. Flasks. , 3, 768 4,524 2,342 3, 512 3,684 711 3, 427 4, 557 987 4, 050 2,536 9, 727 4,501 2, 877 6,117 4, 000 3,415 2,699 3, 710 3, 830 1, 611 4, 500 3, 779 988 in Augubi..—.. 4, 606 3, 491 2,242 3, 010 3, 839 4, 080 6,014 Tn Novernher - _____ ______...... 2,221 4,134 Tri Hppp.mhpV . 4,271 1,731 1, 531 Totals.. 47,194 40, 725 39,103 In addition to the above, the Redington Company produced on an average about 1,000 flasks per month, which would increase the receipts for 1867 to 51,103 flasks. The exports to the different countries for 1867, and the previous three years, were as follows: Exports of quicksilver , 1864-1867. 1864. 1865. 1866. 1867. New York. 1, 495 6, 800 3,800 3, 000 10, 252 9, 561 3, 000 2, 900 1, 500 Great Britain. 1, 609 10, 400 China. 18, 903 7, 483 7, 974 100 14, 248 2, 789 10, 011 10, 042 3, 800 300 20 South America. 7, 500 Australia. 200 575 British Columbia. 21 24 6 Other countries.,. 337 508 93 280 Total flasks. 36, 927 42, 469 30,287 28, 853 And the exports previously have been: Flasks. In 1863. In 1857. In 1862.... In 1856. In 1861__ In 1855 In 1860. q 44 R In 1854 In 1859.. n rma In 1853 In 1858. In 1852. Each flask contains about 75 poimds of metal. Flasks. 27,262 23, 740 27,165 20, 963 12, 737 900 PRODUCTION AND CONSUMPTION OF GOLD AND SILVER. CHAPTER VIII. AGGREGATE PRODUCTION OF THE PRECIOUS METALS. Difficulty of obtaining Statistics for Early Periods—Estimates by Jacob and others—Humboldt’s Estimates and Statistics for the Period from 1492 to 1803 —Danson’s Statements of Production in Mexico and South America— Resume of Production to 1803— Period from 1803 to 1848— Produce of Ameri¬ can and of European Mines—Period from 1848 to 1868 —Maximum yield in 1853— Production at the present time of Gold and Silver—Silver Product increasing while Gold is decreasing Estimates by Newmarcii of Mean Annual Production—Table of Aggregate Production for twenty years— Summary. ESTIMATES OF PRODUCTION TO 1803. In this chapter the attempt is made to present a resiling of the aggre¬ gate amount of gold and silver added to the stock of the world in his¬ toric times, and to show the production and consumption of the precious metals at the present time, based upon the statistics given in the fore¬ going pages and other sources, in order to show approximately the present annual production of the precious metals, and to compare this production with that of other periods. In regard to the general estimates of aggregate production, and especially in regard to those anterior to the 16th century, it is necessary to premise that precision is impossi¬ ble. Statistics are not attainable, and the field is open for conjecture. Jacob, who in 1831 published his Historical Inquiry into the Production and Consumption of the Precious Metals, has attempted to give a connected view of the production of the precious metals from the most remote ages to the discovery of America and onward to the date of his publication. Without assuming the correctness of these estimates it may be well, in the absence of any others, to present a brief view of them as an intro¬ duction to the more precise and certain data given to us by Humboldt and other waiters for the period from the discovery of America to the commencement of this century. 1 1 McCulloch in his article upon the precious metals, (Encyclopedia Britannica, 1859,) says that the difficulty of investigation of the production and consumption of the precious metals “is at least as great as their importance. They are not in truth of a kind to afford any certain conclusions, and we must be contented with those that seem to present on the whole the greatest amount of probability.” He does not think that any reliance can be placed upon the accuracy of the estimates made by Jacob and others upon the production during early periods. REPORT ON THE PRECIOUS METALS. 201 Jacob assumes as a basis of an estimate that the quantity of money in existence at the time of Augustus was about £358,000,000. He esti¬ mates the loss of gold and silver by wearing to be at the rate of one part in 360 annually, so that a gold or silver coin weighing 360 grains would lose a grain in weight yearly, or a 36th part in 10 years, and upon this supposition he presents a table showing the decrease in the quantity of gold and silver money in the Roman empire between the death of Augustus, in the year 14, and the termination of the western empire, in the years between 470 and 490, and extends the same hypo¬ thetical calculation to the year 806. By this constant deduction of 10 per cent, for wear at the end of each period of 36 years, he reduces the entire amount to about £35,000,000 in the year 800. But exception may justly be taken to this large allowance for loss by wearing while no addi¬ tion is made for the accessions to the stock by mining during that period. Jacob himself says that the supplies from the mines of gold and silver had not wholly ceased in the reign of Augustus, but the products were trifling, and in the earlier years comprehended in his table had the effect of slightly lessening the decrease. It is impossible to form more than a conjecture of the quantity of precious metals produced from the year 800 onward to 1492, the date of the discovery of America; but Jacob, who made a careful investigation upon this point also, was disposed to conclude, as far as any judgment could be formed from the few attainable facts, that the whole quantity yielded by the European mines during that period did not average more than about £100,000 annually, and that it certainly was not more than sufficient to supply the loss by waste and wear, and thus to keep the stock on hand about equal to what it was in the year 800. Calculation shows that the amount required upon this hypothesis is, for the 692 years, £69,200,000. It appears by these estimates, which, however, may be regarded as too low, that at the time of the discovery of America the quantity of the precious metals in existence in Christendom did not amount to more than about £35,000,000, and had been steadily decreas¬ ing for several centuries, or, at least, the annual supply was not more than sufficient to supply the waste. From that time there has been a continuous although variable increase. This increased production ap¬ pears to have resulted not only from the influx of gold and silver from the Hew World, but also from the remarkable stimulus which these new discoveries gave to mining industry throughout Europe. Jacob says that u the discovery of America and of the mines it contained seems to have kindled a most vehement passion for exploring the bowels of the earth in search for gold in most of the countries of Europe.” There was in fact a great mining excitement, and between the years 1538 and 1562 more than a thousand leases of mines were taken. For the eight years from 1492 to 1500 Humboldt estimated that the aver¬ age annual supply of the precious metals to Europefrom America was about £52,000 sterling. The first large shipment of gold to Europe was by 202 PARIS UNIVERSAL EXPOSITION. Oramlo in 1502, and amounted to about £70,000 sterling in value, but the greater part of this was lost by the wrecking of the vessels in a great storm. It is believed that the gold collected by the various explorers of America from the year 1500 to the invasion of Mexico by Cortez in 1519, may have equalled, but did not exceed, the amount which Humboldt estimated as the annual product between 1192 and 1S00, or £52,000 sterling per annum. When Cortez invaded Mexico he received presents from Montezuma equal to nearly £70,000 sterling in value, and the tribute paid must have amounted to £05,000 more. Bernal Diaz states that the plunder which fell into the hands of the Spaniards at the capture of Tenochtitlan was equivalent to £S0,000. Twenty years later Peru was invaded by Pizarro. Here, also, mines of the precious metals had long been wrought for the Incas, but the chief supply of silver appears to have been obtained from argentiferous lead. In 1545 the rich mines of Potosi were discovered, and this marks a new era in the production of silver. In 1030 the veins of Pasco were dis¬ covered, and those of Gualgayoc in 1771. Taking Humboldt’s estimate of an average annual production of £52,000, Jacob extends his calculations as follows: The increase in the produc¬ tion was— From 1492 to 1521, 29 years, at £52,000. £1,308,000 Capture of Mexico (1521) to 1545, 25 years, at the annual rate, as estimated by Humboldt, of £630,000 . 15, 750,000 Total addition in 63 years. 17, 058,000 Add stock on hand in 1492. 33, 674,256 Total to 1545. £50, 732,256 From this period onward the annual average production in the Ameri- • cas is estimated to have approached $10,000,000, or about £2,100,000. In Europe the production was enhanced to about £150,000 annually. At this rate of supply for 54 years, to 1600, the total amount was about £121,500,000. To this calculated amount, including the amount of about £50,000,000 on hand in 1545, he applies the same estimated reduction by wear, or one-tenth part in 36 years, and thus reduces the estimate of the stock of precious metals at the end of 1599 to about £155,000,000. 1 In his succeeding estimates up to the beginning of this century, he places the amount on hand in Europe at that time, after deducting what had been sent to Asia, and what was supposed to have been used in the arts, at £130,000,000. In respect to the shipments of gold to Asia, and to the amounts which are deducted, he observes: “•In the absence of any precise facts, and with but little confidence in 1 It will be Doted that there is a discrepancy between this amount and that in the summary on page 204, which is there explained. REPORT ON THE PRECIOUS METALS. 203 an approximation to accuracy, we may venture to suppose that the precious metals which passed from Europe to Asia in the 112 years, from the first discovery of America to the end of the 16th century, amounted to one-tenth of the whole quantity produced, or about £14,000,000; and we may further suppose that one-fifth of the gold and silver had been abstracted from its primary use as money and converted into other com¬ modities, either for use or ornament.” This explanation will be sufficient to introduce the figures which follow, compiled from the estimates made by that author: 1 Stock on hand in 1492. £34,000,000 Production 1493-1599 over loss and wear .. £138,000, 000 Used in the arts. £28,000, 000 Sent to Asia. 14,000,000 Total deductions 1493-1599. 42, 000,000 Net gain 1493-1599. 000,000 Stock on hand at the end of 1599. 130,000,000 Productions of XVlItli century. 337,500,000 Sent to Asia. £33,250,000 Used in the arts. 60,250,000 Wear and loss. 77,000,000 Total deduction for XYIIth century. 170,500,000 Net gain of XYIIth century.. 167,000,000 Stock on hand at the end of 1699. 297,000,000 Productions of 1700 to 1809 . 880, 000,000 Sent to Asia.£352,000,000 Used in the arts. 352,000,000 Wear and loss. 93, 000, 000 Total deductions 1700 to 1809 ... 797,000, 000 Net gain from 1700 to 1809 . 83,000,000 Stock on hand at the end of 1809 . Production from 1810 to 1829 . 103, 736,000 Sent to Asia. £40,000, 000 Used in the arts. 112,252,220 Wear and loss. 18,095,220 380,000, 000 Total deductions from 1810 to 1829. 170,343,440 Decrease from 1810 to 1829. 66, 611,440 Stock on hand at end of 1829.£313,388,560 ’See “Historical Inquiry,” &c., ii, pp. 70, 131, 214. 204 PARIS UNIVERSAL EXPOSITION. This tabular presentation up to 1800, and the statements which precede it, may be analyzed as follows: Analysis of ,1 ((cob's estimates. Period. Amount on hand nnd production. Loss aud wear. Used in arts. Sent to Asia, On hand in time of Augustus year 14 . . £358, 000, 000 Year 14 to 806. £324, 000, 000 69, 000, 000 18, 500, 000 77, 000, 000 93, 000, 000 806 to 1190. >69, 000, 000 2 138, 500, 000 337, 500, 000 880, 000, 000 1402 to 1599. £28, 000, 000 60, 250, 000 352, 000, 000 £14,000,000 33,250,000 352, 000, 000 1600 to 1699. 1700 to 1809 . Total. £440, £50, 000 £399,250, 000 •x / cOj yjyjyjj uuu .x «jc i , uuUj uuu The sum of these deductions thus made by Jacob is £1,421,000,000, and the total production, £1,783,000,000; or, in dollars, in round numbers, $8,915,000,000. I have been thus particular in presenting these estimates by Jacob, in order that readers may form their own conclusions in respect to their accuracy or claims to adoption. It appears improbable that the loss by wear has been as great as Jacob assumes, and much more doubtful that the production of gold and silver utterly ceased during the period from the reign of Augustus to 800. It is more reasonable to believe that the supply was at least equal to the waste by loss and wear. Gold-digging is an occupation which may be followed in the most dark and troubled times, and by savage races, and as we have no reason to conclude that the purchasing power of the precious metals was impaired during that period, the usual inducement for their extraction from the earth remained. niTMBOLDT’S STATISTICS. For the statistics of the production of gold and silver in America from the discovery of the country to the year 1803, reliance is placed chiefly upon the celebrated work of Baron Humboldt, the “Political Essay upon the Kingdom of Kew Spain,” in which, in addition to an account of the 1 Jacob, in chap, xiv, page 361, assumes that the annual production of gold from 806 to 1492, a period of 690 3 ’ears, was about £100,000 per year, and inasmuch as the amount in circulation at both periods was nearly the same, the production was only sufficient to com¬ pensate for the loss by wear : £69,000,000, therefore, represents both the production and loss. 2 There is here a discrepancy in Jacob’s statements. In the table, and the text from which it is taken, (ii, page 70,) he gives £138,000,000 as the production in that period, over and above the loss by wear. But the data he gives on pages 52, 53, and 62, show a produc¬ tion from 1492 to 1546 of. £17,058,000 1546 to 1599 of. 121,500,000 Total. £138,558,000 And the statements of loss by wear on pages 54 and 63 amount to £18,482,000 on these amounts, including also the wear on the before existing £34,000,000. And he further states the amount on hand at the end of 1599 as about £155,000,000. REPORT ON THE PRECIOUS METALS. 205 examinations of the mines made by him, all the available data relating to the subject of the production and export of the precious metals are brought together. This eminent authority estimates that the annual average supplies of the precious metals derived from America were as follows r 1 Average per year. From 1492 to 1500... $250,000 From 1500 to 1545... 3, 000,000 From 1545 to 1600... 11, 000, 000 Average per year. From 1600 to 1700.. $16, 000, 000 From 1700 to 1750.. 25, 500, 000 From 1750 to 1803.. 35,300, 000 In a recapitulation of the value of the gold and silver raised from the American mines from 1492 to 1803, he estimates the amount— Registered: Piastres. From Spanish colonies. 4, 035,156, 000 From Portuguese colonies. 684, 544,000 Not registered: From Spanish colonies. 816, 000, 000 From Portuguese colonies. 171, 000, 000 Total 5, 706, 700, 000 These statements, and the tables in detail, by Baron Humboldt, upon which they are founded, have been carefully studied and compared by Mr. Danson, who finds reason to amend them. In an elaborate article published in 1851, 2 he reviews the subject, and presents the following amended statement, which reduces the total, as given by Baron Hum¬ boldt, by 138,506,000 piastres, or a little more than two per cent. Amended statement. Country. Registered piastres. Contraband piastres. From New Spain, (gold and silver). 1, 767, 952, 000 1, 769, 698, 000 332, 000, 000 737, 544, 000 4, 607,194, 000 961, 000, 000 5, 568, 194, 000 260,000, 000 434, 000, 000 82, 000, 000 185, 000, 000 961, 000, 000 From Peru, viz: Potosi, Pasco, Gualgayoc, Huantajaya, &c., (silver). From the Spanish colonies, dtc., under New Spain, (gold). Frpm Brazil, (gold). Grand total, (piastres). Of this whole amount, 1,415,544,000 piastres (exchange at 4s. 3d., £300,803,100) is supposed to have been gold, and 4,152,650,000 piastres ^ssai Sur La Nouvelle Espagne, iii, 428. 2d ed. 2 “ On the quantity of gold and silver supposed to have passed from America to Europe from the discovery of the former country to the present time, by J. T. Danson.” Read before the Statistical Society of London, December 16,1850, and published in the Journal, vol, xiv, 1851. 206 PARIS UNIVERSAL EXPOSITION. (£8S4,350,635) silver. But this does not show the nmount of the precious metals taken to Europe. An allowance is to be nimlo for the quantity retained in America, and for such portions as were exported to other countries than Europe. Humboldt estimated tliis down to 1803, at an annual average of 000,000 piastres. Danson observes that in Humboldt’s estimatesno allowance is made for wear and for the casual losses during the three centuries, and allowing for gold and silver together only one-fourth of one per cent, per annum, on a probable average of .10,000,000 piastres in use, he makes the total to be deducted 37,500,000 piastres, as shown in the following amended account, which lie presents: Piastres. Gold in use iii America at the arrival of the Spaniards.. 40,000, 000 Gold and silver raised from the mines between 1402 and 1803 . 5,568,194,000 5, 608,104,000 1. Deduct the quantity probably consumed in America during the three centuries Piastres, ended in 1803 . 37,500, 000 2. Also the quantity supposed to be remain¬ ing in America in 1803. 153, 000, 000 3. And the quantity supposed to have been sent elsewhere than to Europe. 133, 000, 000 - 323, 500,000 Total value of both metals sent to Europe down to 1803.. 5,284, 604,000 or, sterling exchange at 4s. 3d., <£1,122,007,475. Danson observes that this is apparently the best account that can be framed down to 1803. Humboldt gives the following estimate of the production of the mines of the New World at the commencement of this century: 1 Annual produce of the mines of America at the commencement of the nine¬ teenth century. Political divisions. GOLD. SILVER. Value of gold Marcs of Castile. Kilograms. Marcs of Castile. and silver in dollars. Kilograms. Vicerovaltv of New Spain. Viceroyalty of Peru. Captain Generalship of Chili. Vicerovaltv of Buenos Ayres. Viceroy alt v of New Granada. Brazil... 7, 000 3, 400 2 212 2, 200 20, 505 29, 900 1,009 782 2, 807 506 4, 714 6, 573 2, 3:18, 220 611,090 29, 700 481, 830 537,512 $23,000,000 140,470 6,240,000 6, 827 2, 060, 000 110,764 4,850,000 . 2, 990, 000 4 360 000 Total. 75,217 17,291 3, 460, 840 795,581 $43,500,000 . 'Cited by McCulloch Ency. Brit., xviii, 4G0. REPOET ON THE PRECIOUS METALS. 207 He further estimated the production at that time of the European mines and those of northern Asia at about £1,000,000 in addition. 1 Chevalier also, citing from Humboldt’s New Spain, says that Hum¬ boldt calculated that the gold production of America, Europe and Asiatic Russia amounted to 15,800 kilograms, 2 (£2,180,400.) Cheva¬ lier considers it doubtful if the gold which the Christian nations drew from other sources, and especially from Africa, added a weight of 2,000 kilograms (£276,000) to this supply. He therefore estimated that 18,000 kilograms, valued at £2,484,000, or about $12,420,000, would cover the amount of gold which then reached the Christian nations. 3 By including the island of Borneo and several other localities in the Indian archipel¬ ago, he supposes that the amount of pure gold may have been about 24,000 kilograms, worth about £3,312,000. Birkmyre places the amount of pure gold produced in America in 1801 at 46,331 pounds troy ; in Europe and Northern Asia, (exclusive of China and Japan,) 4,916 pounds; total 51,247 pounds, equal to 55,910 pounds of British standard gold, and valued at £2,612,200. It will thus be seen that these authorities concur in estimating the value of the production of gold at the commencement of this century at about $13,000,000, in round numbers, and this is the sum which has been adopted in the tabular statements. It will be observed, also, in the table given from Humboldt, that the supply was derived chiefly from South America and Mexico. Gold was most abundantly produced in New Granada, Brazil and Chili, and silver in Mexico and Peru. The supply of silver at that period from America was about 800,000 kilograms, according to Humboldt, and in all, accord¬ ing to Chevalier, about 900,000 kilograms, valued at £7,965,000. Phillips places it at 2,337,300 troy pounds, the value of which would be approximately in round numbers $35,000,000. Of this amount 61 per cent, was obtained from Mexico. resum£ of production to 1803. If, for the sake of presenting a connected view of the accumulation of the precious metals, we adopt the figures given by Jacob for the amount on hand at the time of the discovery of America, and the revised esti¬ mates of the statistics given by Humboldt, the result may be considered as nearest approximation that can now be attained. The aggregate pro¬ duction of Europe for the period from 1492 to 1803 is also to be adc^ed. Here it may again be premised that we have to depend upon estimates rather than on statistics. We are not, however, entirely in the dark in respect to the yield of the mines for at least a portion of the time. 1 McCulloch, estimating the dollar at 4s. 6 d., makes the total of the table equal to £9,666,000, and the total, including Europe and Asia, at £11,000,000 in round numbers. 2 The kilogram of fine gold, by the terms of the law 7 Germinal, year 11, is equal to 3,444 francs 44 centimes, (£138.) See Chevalier, p. 54. 3 Chevalier on Gold, Cobden’s translation, pp. 54, 55. 208 PARIS UNIVERSAL EXPOSITION. Jacob, citing from Andre, 1 states that “the average product of the mines of Europe, including those of the Russian dominions in Asia, did not in the last 20 years of the 18th century amount to more gold than equal in value to £200,000, and silver equal to £000,000. Of this gold, more than one-lialf was yielded by the mines of Russia, which afforded none before the year 1704. Of the remainder, the greater portion was extracted from the Austrian dominions, and the remainder in various small quantities from Saxony, Prussia and Hanover.” The annual pro¬ duction, during that period, was nearly as follows: Russia. £150,000 Austria. 200,000 Saxony. 100,000 Prussia and Hanover. 110,000 Other sources. 40,000 Total. £000,000 It is observed that the mines of Germany, with the exception of those of Saxony, were very little worked or known until the end of the period from 800 to 1500, and that the time of the greatest yield was but a few years before the termination of that period, so that if the average annual quantity produced between 800 and 1500 be estimated at one- seventli or one-eighth of the average between 1780 and 1800, it cannot be far from the truth. If we accept £000,000 as the yield for the last 23 years of the period following the discovery, and assume an annual average of £100,000 for the remainder, we have a total of £42,500,000, or, in round numbers, $212,500,000, as the sum to be credited to Europe in the succeeding summary, no allowance being made for loss, or for the production of India, China, Japan and Central Asia. Approximate production from 1492 to 1803. North and South America. $5, G08,194,000 Europe.-. 212,500,000 Total. $5,820,094,000 PERIOD FROM 1803 TO 1848. The production of gold remained nearly constant from year to year after 1800 until the mines of Russia and Siberia began to be more extensively worked from 1810 onwards. The production of silver had been increasing, but about this time (1809) the revolution commenced in Mexico, and the production of the mines was greatly diminished. Jacob estimates that it was lessened one-half, but this is considered by some as an exaggeration. Danson, in the elaborate memoir before referred to, has carefully 1 C. C. Andre, Neueste Zahlenstatistik, &c M Stuttgart, 1623. Jacob, i, 359. REPORT ON THE PRECIOUS METALS. 209 investigated the statistical returns from both North and South America for this period of 45 years. He considers the most authentic existing materials to be the collection of returns elicited from British consuls resident in the mining countries of America, in reply to a circular issued by the minister of foreign affairs in 1830. 1 Reference is also made to the work of Duport. 2 The statistical tables which he presents of the production of the different countries have been referred to, and some of them given in the preceding pages of this report, as, for example, under Mexico, page 156. The general summary of these tables is given as follows: 3 4 Both Americas; general summary of production 1804-’4S. Silver. Gold. $702, 026, 872 216, 485, 527 287,143,190 38, 555,205 170, 000 ,$84, 920, 225 31, 566, 898 170,691,290 99, 963, 316 204, 255,328 95, 000, 000 9, 000, 000 15, 500, OQO Buenos Ayres .. Obili i . Columbia - -- -- -. --------------.------.... Central America... United States.-.-. Total,dollars ..-.-. $1, 244, 380, 794 $710, 897,057 Pounds sterling, at 4s. 2 d _ _ _ __ £259, 245, 995 £148,103, 550 This gives a total value for the two metals of $1,955,277,581$ in round numbers $1,955,000,000. 5 6 There are no similar complete statistical summaries of the production of the precious metals in Europe and Asia during this period. The bulk of the product was, however, obtained from the Russian gold field, the yield of which increased rapidly from 1825 to 1848. (See pages 92, 93.) From the data there given the total value of the production from 1800 to 1848 may be set down at $200,000,000, in round numbers. For the production of the European mines for the period of 45 years, (1803 to 1848,) I have been unable, after prolonged examination of authorities, to arrive at any very satisfactory conclusion. Hypothesis seems to have taken the place of statistics, and even the estimates which 1 These returns were made public in two sets, one in 1832, Parliamentary Papers, No. 338, and the other in 1843, Parliamentary Papers, No. 476 of those years. 2 De la production des Metaux precieux au Mexique, &c., par St. Clair Duport. Svo., Paris, 1843. 3 Danson, 1857, Jour. Stat. Soc. Lon., xiv, 43. 4 Commissioner Wilson, in his report for the year 1867, calls attention to an error in Mr. Danson’s tabular statement for Chili. It is stated that about $30,000,000 which should have been added to the silver product was inadvertently added to the gold; thus the figures for the gold should be $70,757,532, and for silver, $56,525,000. 6 Mr. Lanson supposes that of this amount £360,579,515 was sent to Europe. Adding £1,122,997,475, the quantity sent to Europe from 1492 to the end of 1803, and we have a total of £1,483,577,020. 14 Gr PARIS UNIVERSAL EXPOSITION. *210 have been made are so combined with the estimates and returns of the production of Russia, Asia, and America that it is impossible to separate them in a satisfactory manner. Humboldt, as already shown, estimated the Value of the annual produce of the European mines of Hungary, Saxony, and those of northern Asia, at the commencement of this century, at £1,000,000. By subtracting the produce of Russia from this total the remainder should represent, approximately, the production of Europe at that time. Taking for the Russian production the average of 392 kilograms, (vide page 92,) value £54,096, the result is £945,904; in dollars, at $5 to the pound, $4,729,520. This result accords closely with the following calculation for another period, 1810 to 1830: Jacob says that a communication from Baron'Humboldt to Poggen- dorfs Annalen, shows that “the annual produce of the precious metals in Europe and Asiatic Russia amounts to 25,500 marcs of gold and 292,000 marcs of silver, of which 76,500 of silver and 22,000 of gold were from the Russian empire. The value of this gold is about £720,000, and of the silver £530,000, being together £1,250,000 annually, or in the period of 20 years, from 1810 to 1829, £23,000,000.” 1 [£25,000,000.] If from this total as corrected, in round numbers $125,000,000, we subtract the production of Russia for the same period, viz, $31,000,000 in value in round numbers, we obtain the sum of $94,000,000, or an average of about $4,700,000 a year for the production of Europe. The figures given by Phillips for the production of silver and gold in 1800 show an aggregate value of $3,000,000, in round numbers. Birkmyre’s table of production of gold and silver in the years 1846 and 1850, (Appendix D, Table XIV,) shows a value of £1,309,600 for Europe in 1846, or in dollars, $6,548,000 in round numbers. Considering the foregoingdata, 1 have Assumed that the average annual value of the production in Europe from 1800 to 1848, 47 years, was $7,000,000, 2 showing a total value of $329,000,000, and with the addition of the produce of Russia, $529,000,000. The total production for this period, (1803 to 1848,) without any allow¬ ance being made for loss, or for the yield of China and India, may be summed up approximately as follows: Aggregate production from 1803 to 1848. North and South America. $1,955,000,000 Russia. 200 , 000,000 Europe. 329,000,000 Total. $2,484,000,000 1 Jacob, ii, p. 268. -This is considerably above the present production as shown by the later statistics. REPORT ON THE PRECIOUS METALS. 211 PRODUCTION FROM 1848 TO 1808. At the time of the discovery of gold in California in 1848, the aggre¬ gate annual production of the metal including a nominal estimate of $10,000,000 for Asia, was not over $40,000,000. The rapid increase in the production from that time is well known. Three years later the Aus¬ tralian placers contributed to swell the amount, until in 1853 the aggre¬ gate annual production of gold reached its maximum, and was no less than $193,500,000 in value, as shown in the annexed tabular statement. From that time to the present the production has been steadily decreas¬ ing, although maintained in part by the discovery of one new region after another. Production of gold: and. silv>er in 1853. Country. Gold. Silver. Total. California and other portions of the United States 1 . Australia 2 . $61,000, 000 60, 000, 000 15, 000, 000 8, 000, 000 1, 500, 000 1, 000, 000 5, 000, 000 5, 000, 000 $61, 000, 000 60, 000, 000 15, 700, 000 37, 000, 000 8, 800, 000 1, 000, 000 5, 000, 000 5, 000, 000 Russia and Siberia 3 . $700, 000 29,000,000 7,300,000 Mexico and South America 4 5 . Europe,® (estimated)..... Africa, (estimated). Borneo and East Indies 6 . Japan and Central Asia 7 . Total. 156, 500, 000 37, 000, 000 193, 500, 000 The production of silver may be considered to have been pretty uni¬ formly maintained until the year 186CM61, when the great Comstock lode and the other silver regions of Nevada were discovered. Since that time the annual production of silver has been increasing, and may now be valued at about $54,000,000, as shown in succeeding tabular statement. This table shows approximately the production at the present time in the principal gold and silver regions of the globe. The statistics of the gold production have already been given on page 108, at the end of the section upon gold, but the totals are here repeated for convenience of refer¬ ence and comparison with the silver production. 1 1 have here followed the returns for California for 1853, as given on page 20, viz., $54,965,000, in round numbers $55,000,000, and have added 10 per cent. The table given by Commissioner Browne makes the product for 1853, $57,330,000. Ten per cent, added to this would give a total of over $63,000,000. To the sum for California, $500,000 is added for other portions of the United States not there included. 2 Ounces, 3,150,020, (page 80,) at $19 04 per ounce = $59,976,380, in round numbers $60,000,000. The table given by R. Brough Smyth, 1866, gives 2,676,345 ounces as the export for 1853; but some additions were to be made for a portion exported through New South Wales and other colonies. 3 See pages 92 and 93 for gold and page 182 for silver. 4 The silver production of South America is here estimated at $10,000,000, and for Mexico, $19,000,000. 5 An estimate based on the returns on pages 177, 179, 181, 185 and other data. 6 and 7 For these countries I have made a merely nominal estimate of $10,000,000 as the a .?P r egate; it is probably far below the actual production Of the production of silver little or nothing is known. PARIS UNIVERSAL EXPOSITION. Approximate statement of the rulin' of tin' prod action of ffold and .s nicer in the principal (pdd and silrer producing countries , 17. GOLD. SILVER. GOLD AND SILVER. SOURCE OK PRODUCTION. Value of pro- Ratio Value of pro- Ratio Total value of Ratio duct. per cent. duct. percent. production. per ct. United States: $25, (100 000 $25, 000, 000 Nevada . fi, 000, 000 $12, 500, 000 18, 500, 000 3, ooo 000 3, 000, 000 Idaho .. 5, 000, 000 2, 500, 000 7, 500, 000 . 12, 000, 000 12, 000, 000 500, 000 500, 000 300, 000 300, 000 2, 000, 000 500, 000 2, 500,000 Utah, Appalachians, and other 2, 700, 000 2, 700, 000 Total. 56, 500, 000 43. 23 15, 500, 000 28. 70 72, 000, 000 39. 02 2, 560, 000 1. 96 2, 560, 000 1 39 Mexico. 1,000, 000 . 76 19, 000, 000 35. 30 20, 000, 000 10. 84 Central and South America. 5, 300, 000 4. 05 10, 000, 000 18. 59 15, 300, 000 8. 30 Australia. 31,550, 000 24. 14 20, 000 .04 31, 570, 000 J 17. 11 Now Zealand. . 6, 000 000 4. 59 6 000 000 3 26 Russia. 15, 500, 000 • 11.87 700, 000 1. 30 16,200,000 ' 8. 77 Europe. 1, 370, 000 1. 06 8, 6U0, 000 15. 97 9,970,000 5.40 Africa. 900, 000 .68 ) Borneo and East Indies. 5, 000, 000 3. 83 l 10, 900, 000 1 5.91 China, Japan, and Central Asia. 5, 000, 000 3. 83 1 . J Totul. $130, 680, 000 100 $53, 820, 000 100 $184,500, 000 100 The figures are given in round numbers, and are drawn from the sta¬ tistics presented in detail in the preceding chapters, or are estimates based upon the latest statistics and information that could be obtained. The amount of production for each country is stated by value in dollars, not by weight, for nearly all the returns of production of North and South America are made by value. No elfort has been made to isolate the value of the silver contained in the native gold of California and other gold regions. From the fact that the returns of gold bullion are made by value, this is not essential. 1 It will be observed that in stating the value of the silver product of Nevada $0,000,000, or about one-third of the total bullion yield, is consid¬ ered to be gold. The figures are the same as are given on page 57 with the exception of those for Idaho. Later information from that Territory has authorized the conclusion that the silver product for 1807 was nearer ! From tbe returns of the director of the United States mint and branches, it appears that from 1S41 to IS6S, the amount of silver parted from gold of domestic production was $5,261,776. REPORT ON THE PRECIOUS METALS. 213 $2,500,000 in value than $1,500,000. Of the aggregate of $56,500,000 now credited to the United States as gold bullion it is probable that from $500,000 to $1,000,000 should be entered under the head of silver, thus increasing the total of silver from $14,500,000 to $15,000,000 or $15,500,000, and diminishing the total for gold to an equal amount. As it was not possible to ascertain what portion of this estimated additional amount for silver should be credited to California, Montana, New Mexico, Utah, and other sources, the separation from the figures for the gold product has not been attempted. The ratio of the value in each of the principal countries to the value of the total production is shown in separate columns. It appears that the total annual production of gold and silver at the present time is approximately as follows: Gold. $130,680,000 70.83 per cent. Silver. 53,820,000 29.17 per cent. Total. $184,500,000 100 per cent. Of this total, 39.02 per cent, is produced within the limits of the United States; and of the gold, California and the other gold-producing regions of the country furnished 43.23 per cent.; Australia, 24.14 per cent.; and Russia, 11.87 per cent. 1 At the commencement of this century the total gold production exclu¬ sive of Asia was less than $13,000,000 ; in 1847 it was about $41,000,000; and in 1853, $156,500,000. Of the present production of silver the United States supplies about 9 per cent.; Mexico, 35. The production of silver in the great silver region of the United States may be regarded as only commenced. Most of the silver has hitherto been taken from the Comstock lode, but when by means of railroads the other rich silver districts of Nevada are made more accessible for ma¬ chinery, supplies, and labor, the total product of the State will be greatly increased, and, together with the opening of the many veins of Idaho, Arizona, Utah, and California, the product of silver bullion will probably soon equal if it does not exceed that of Mexico at any period of its history. The total annual silver product of the world at the commencement of this century was about $36,000,000 in value, and as the gold product at that time was about $13,000,000, the ratio of the production of the two metals was as 36 to 13, being the reverse of the existing ratio, as will be seen by the following comparison, in per cents, of the total production at the two periods : 2 ; In summing up the percentages on page 108, the fractions were not correctly given. A slight change was made in the table in the proof, and the changes required in the fractions in the text were overlooked. 2 Some details upon the relative values of gold and silver at different periods will be found at the end of the report. PARIS UNIVERSAL EXPOSITION’. *214 Ratio of flu* production of silver and gold. 1800. 1867. 1 Amount. s Amount. s & hN $36, 000, 000 73. 47 $53,820,000 : 29.17 26. 53 130,680,000 70.83 Total___....... §49,000,000 100 1 $184, 500, 000 100 The diagram which accompanies this report will * assist in making the gradual change in the product of gold and silver more evident. The profile line which shows the production of gold exhibits in a striking manner the rapid increase of the production up to 1854, and its present rapid decline. AGGREGATE PRODUCTION TO 1868. Having now shown as far as possible the annual production in 1848. in 1853, and in 1867, of both gold and silver, the calculations of the total accumulation of the precious metals up to the present time may be resumed. Before giving the tabular statement which has been prepared, the following estimates by Mr. Newmarcli, embodied by him in a letter to the French commission, 1 are presented together with an abstract of his observations in explanation. lie says that it is impossible to give exact figures, but he was disposed to regard the statement as the nearest approximation to the truth that could lx* reached. Total mean annual production of gold and .silver during the fifteen yearn from 1849 to 1863. Table in millions of pounds sterling, (13.5=<£13,500,000.) | Gold annually pro¬ duced. Period of production. g 13 a s Total amou’t.' of gold, i y A 3 1849 to 1851.£13.5. £10.3 £23.9 £15.5 £40.5 '£30.9 £46. 5 5 1852 to 1856. 14.0 24.7 38.7 16.1 70.0 123.5 ; 80.5 3 1857 to 1859. 14.6 21.9 36.5 17.1 43.8 65.7 51.3 4 1860 to 1863. 15.3 18.3 33.5 I 18.2 ! 61.2 1 73.2 j 72.8 15 Totals. .215. 5 ‘293. 3 251.1 Averages. 14,3 19.5 33.8 16.7 . In volume 5 of “ Enquete sur les principes et les faits generaux qui regissent la circula¬ tion monetaire et fiduciaire,” p. 538. REPOET ON THE PRECIOUS METALS. 215 According to these figures the quantity of gold produced annually since 1856 from new sources has diminished nearly 13 per cent., and the quantity of silver has increased nearly 12 per cent. He estimated that the total quantity of gold from the modern sources was distributed approximately as follows: Great Britain. France... United States. Australia. California. Turkey and the East... Brazil, Egypt, Spain, &c Sterling. £60,000,000 110,000,000 50,000,000 30,000,000 20,000,000 40,000,000 40,000,000 £ 220,000,000 130,000,000 Total £350,000,000 A summary of the statistics which I have collected, and the estimates which I have made upon the total production in the 20 years, from 1848 to 1868, inclusive, are given in the annexed table. The figures have been drawn as far as possible from the returns printed in the foregoing pages, and where estimates have been made they are based on actual returns for certain years or periods, and explanations are given in the foot-notes attached to the table. The returns from the principal gold-producing countries, California and Australia, are very complete and satisfactory, compared with those from Europe, with the exception of Russia. It is extremely difficult to obtain connected statistics of the production of Spain, Italy, Saxony, and Austria. 1 The figures must be received as approximations, as nearly correct as it is possible to obtain them. They show a total for the 20 years of— Cold. $2,757,600,000 Silver... 813,400,000 Total. $3,571,000,000 ! It may here be observed in explanation of the absence of many statistics that should have appeared in these pages in order to render the work as complete as the author desires, that the time originally allowed for the preparation of the report (three months) was not sufficient to permit many important official publications to be obtained or consulted. PARIS PNIVKRSAL EXPOSITION. 2 1 (; Appr.u'imitfe statement of the apprepate production of the precious metals , /non 1S4S to 1S(JS. GOLD. SILVER. COUNTRV. Value of pro¬ duction. Totals. Per ct. Value of pro¬ duction. Totals. 1 Per ct. NORTH AMERICA. California 2 757 600,000 100 $813, 400, 000 100 1 From the sum total of California aiul the Pacific States, viz : $961,000,000, (p. 21,) I have deducted the total bullion product of Nevada, viz: $89,450,000—gold, $28,450,000; silver, $61,000,000, and have also deducted an estimated amount of $9,000,0 0 for Idaho silver, and $1,000,000 to cover silver produced in California, Arizona, and elsewhere. For Montana I have followed the estimate given by W. S. Keyes. t(See p. 40.) Deducting $100,000, und regarding $500,000 of the amount as silver. 3 Colorado. This is in part an estimate. (See p. 46.) Of the total of $.‘10,000,000, $500,000 has been regarded as silver. 4 New Mexico. Appalachians, and other sources. It is difficult to ascertain the amount of gold produced in the >"Utbern States; but this is an estimate based on the mint returns. A small amount of silver has been extracted from argentiferous lead and from the copper veins of Lake Superior. From this last source $209,978 in value was deposited in the mint up to June, 1868. 5 Nevada. This amount includes the gold contained in Comstock bullion, with a nominal addition for other sources. * To the total production, according to the table (p. 93) for 1848to 1864,an estimated amount of $61,340.342 added for the four years 186$, this being based on the auuual uvciage of $15,335,088. (See p. 93.) REPORT ON THE PRECIOUS METALS. 217 Summary of aggregate production of gold and silver up to 18CS. 14 to S0(’ ? (amount supposed to be on hand). $1, 790, 000, 000 800 to 1492 ..... 345,000,000 1492 to 1803 . 5, 820, 700, 000 1803 to 1848, (p. 210). 2, 484, 000, 000 1848 to 1868 ...,. 3, 571, 000, 000 Grand total...$14, 010, 700, 000 • ___ This total, as already explained, is at best only an approximation, and is exclusive of the production of Asia, except a nominal allowance of $10,000,000 per annum for the last 20 years, and, with one or two excep¬ tions, is without any allowance for loss in transportation or by wearing. The first item includes what was supposed to be on hand in the time of Augustus (vide pages 201 and 204) and does not include any allowance for the production during the period, of which, in reality, nothing definite or satisfactory is known. C FI AFTER IX. CONSUMPTION AND MOVEMENT CIOUS METALS. OF THE PRE Estimate of tiif. Amount of Gold and Silver in Circulation in Various Countries—Estimates of the Amount of Gold and Silver in the United States at Different Periods—Coinage of England, France, and other Countries—Coinage of the United States—Use in the Arts and Loss ry Wearing—Current of the Precious Metals—Exportation to India—De¬ crease in the Production of Gold—Production of Gold from Placers and from Veins Compared—Probable Pise in the Value of Gold—Means of Promoting the Production of the Precious Metals—Encouragement of Vein Mining—Government Protection and Legislation required—Import¬ ance of a National Mining College—Organization of a Corps of Mining Engineers Suggested. USE OF THE PEECIOUS METALS FOE MONEY. The inquiry now naturally arises, what use is made of this enormous amount of gold and silver? In what forms, and where, does it now exist? The chief use of these metals is for money—representing labor or property; next in the arts, in the form of plate, ornaments, and other objects. It would be exceedingly interesting to ascertain the total amount of gold and silver in both of these forms now in existence, in order to compare it with the amount produced. This, however, is prac¬ tically impossible. The difficulties which surround such an inquiry are almost as great as those which surround the question of production. It is an inquiry which cannot be entered upon here to the extent which its importance deserves, but the few facts which have been brought together will serve to throw some light upon the subject. During the general recoinage in England in 1774, the old and defect¬ ive gold coins that were brought to the mint to be recoined produced £1(1,508,200 in new coins; £2,898,491 in value of new coin was also produced from ingots of foreign gold. It was supposed that there remained in circulation at the same time, within the kingdom ,£5,000,000 in value of old guineas and hall-guineas. The total of these sums is £25.447,002, which is supposed to have been the amount in circulation in England directly after the recoinage. Lord Liverpool, in his letter to the King in 1805, from which the fore¬ going facts are derived, 1 estimates the amount of gold coin then in existence “ in his Majesty’s dominions” at over £30,000,000 in nominal value, and of silver coins about £3,900,435. It is also stated that M. Necker. in his treatise on the administration of the finances of France, estimated the quantity of specie circulating in that country at about £91.060.000, cliietiy in silver. 2 Vide Lord Liverpool's Treatise oll the Coins of the Realm, 4to, 1805, p. 17G. 2 Ihid., p. 180. EEPORT ON THE PRECIOUS METALS. 219 Tooke, in his History of Prices, 1 lias shown that even so early as 1560 the probable quantity of gold and silver coin in circulation in England and Wales was £1,100,000. In 1688, Gregory King’s estimate of the 0 -old coins in England and Wales was £3,000,000 of silver and £8,500,- 000 of gold. Mr. Morrison was led to believe that the amount of gold coin in 1780 was not less than £26,000,000. Sir George Rose estimated that it was £40,000,000 in 1798. The following are Tooke’s estimates of the quantity of British gold in circulation in the United Kingdom at the close of 1844 and at the close of 1866: Estimate at the close of 1844 .. £36,000,000 Add for efflux from the Bank of England, 1845-’49.. £15,000,000 “ “ “ “ 1850-’54.. 35,000,000 “ “ “ “ 1855-’56.. 14,000,000 64,000,000 Less gold cancelled. 6,000,000 -- 58,000,000 £94,000,000 He was, however, inclined to think that the amount of gold coin in circulation in 1844 was considerably more than the £36,000,000 assumed. On the assumption that it was £46,000,000—and he was inclined to adopt that amount as highly probable—he arrived at the following assumed gold circulation at the close of 1856: Assumed gold circulation at close of 1844... £46,000,000 Add for efflux, 1845-’49 .. 15,000,000 * 61,000,000 Add for efflux, 1850-’56.. £49,000,000 Less exports to Australia. 25,000,000 - 24,000,0000 Apparent gold circulation at the close of 1859. £85,000,000 He observes further, that considering the general tenor of former estimates of the quantity of gold coin in circulation in the United King¬ dom, it does not appear that a supposition of even £75,000,000 sterling as the quantity at the close of 1866 would be unduly exaggerated. Professor Jevons, in a recent communication to the Statistical Society of London, estimates the gold in circulation in Great Britain at £80,000,000, the silver at £14,000,000, and the bullion in bank at £15,000,000 more, making £109,000,000 in all. McCulloch, in 1858, 2 says that the gold and silver employed in Great History of Prices, vi, 701 and 702. Encyclopedia Britannica, xviii, 465. PARIS IMVER8AL EXPOSITION 7 . 220 Britain as currency, ami in tin* customary reserves in the banks, was supposed to amount to from £70,000,000 to £75,000,000, and in France to £130,000,000 or £140,000,000. lit* estimated the entire sum in use as money in Furope, North and South America, Australia, Cape of Good Hope and Algeria, at from £400,000,000 to £510,000,000, or a mean of £500,000,000—in round numbers $2,500,000,000. In regard to the metallic circulation of France there is a wide differ¬ ence m the estimates. Chevalier estimated it at 2,500,000,000 francs, about $500,000,000. Roswag, 1 who has examined the subject with great care, estimates that the stock in 1805 did not exceed 3,000,000,000 francs, or $000,000,000. Mr. George Walker adds $100,000,000 to this estimate of Roswag, and considers $700,000,000 as fairly representing the total circulation of France. The value of the precious metals circulating in Russia in the early part of 1851 was estimated at 326,000,000 of roubles—about $269,000,000, The amount of coin in circulation in India in 1860 was estimated at £100,000,000 by Mr. Wilson. Of the amount in China we have no means of making eveii an approximate estimate, but it is known to be very large and to consist in a great part of Mexican dollars and silver bullion. The amount of gold and silver in circulation and in the treasury and banks of the United States at the present time is supposed to be about $ 200 , 000 , 000 . In 1861 the amount was estimated by Secretary Chase at $275,000,000. In the report of Secretary Guthrie for 1854, 1 a tabular statement is given of the estimated amounts of gold and silver in the United States at different periods. This table is appended. Estimates of the amount of gold and silver in the United' /States at different periods. Year. Specie in 1 circulation. | Specie in the banks. Total in the country. Authorities. Millions. Millions. 1 Millions. 161G. m $15 to 19 i $22$ to 26 Crawford and Gallatin. 1819. [ 8 °9 37 Crawford. 1819 151 Congressional report. 1820 . 19 1 Gallatin. 1829. 8i 22£ 31} Woodbury. 1830. 10 22 32 , Uallatin. 1830. 8 15 23 1 Sanford. 1833 . 12 30} 42} Congressional report. 1833 . 4 25 29 Taney- 1836 . 25 40 65 Woodbury. 1 The author regrets that during the preparation of this report he has not had an opportu¬ nity of consulting the important work of M. Roswag. It is now cited from the letter ot Mr. George Walker to the Hon. David Ames Wells, special commissioner of the revenue, Appendix 13, of the commissioner’s report for 1868. - Senate document, second session, 33d Congress, volume 4, ]854-’5f), page 280. REPORT ON THE PRECIOUS METALS. 221 Estimate of the amount of gold and silver in the United States , &c. —Continued. Year. Specie in circulation. Specie in the banks. Total in the country. Authorities. . Millions. 35 Millions. 38 Millions. 73 Woodbury. Ig38 . 521 35 87* Do. 1839 . 42 45 87 Hazard, (Commercial Register.) 1840 . 50 33 83 Woodbury. 1841 . 35 to 45 35 70 to 80 Gouge, (Journal of Banking.) Hunt, (Merchant’s Magazine.) 1844 . 50 50 100 1845 . 52 44 96 Bank returns and estimates. 1846 . 55 42 97 Do. 1847. 85 35 120 Bank returns and estimates. (Constitu¬ 1848 . 66 46 112 tional treasury began to operate.) Bank returns and estimates. 1849. 77 43 120 Do. 1850 . 109 45 154 Do. 1851 . 138 48 186 Do. 1852. 204 Estimates. 1853. 236 Do. 1854. 181 60 241 j Bank returns and estimates. STATISTICS OF COINAGE. The statistics of coinage in different countries, although they cannot be taken as accurately representing the amount of the precious metals in circulation, are important in this connection. Chevalier says: 1 “During the government of Napoleon I, the coinage of gold amounted to 527,000,000 francs, or an average of 48,000,000 per annum. Under Louis XVTII it was a smaller proportion, amounting to a total of 389,000,000 francs, or an average of 39,000,000 per annum. Under Charles X a great decline is observable; for during the whole reign the gold coinage amounted to only 52,000,000 francs. During the 17 years of Louis Philippe’s reign gold was only coined to the amount 215,000,000 francs, or 12,500,000 annually. The ascending reaction began to manifest itself in 1848, for in the general distress caused by the revolution of that year many persons carried their gold plate to the mint to be converted into money $ but the influence of the new mines is not perceptible till after 1850. During the period of eight years, ending December 31, 1857, the gold coined at the Paris mint amounted to two 2,750,000,000 francs, or an average of 343,000,000 yearly. During the period of 45 years, comprised between the seventh Germinal , year 11, and January 1, 1848, it had only been one 1,186,000,000, or 22,300,000 francs per annum. The greatest amount coined in one year was in 1857, when it reached 572,561,225 francs. According to a late official statement of M. Pelouze, the total coinage of the French mint since 1795, the date of the establishment of the mon- 1 On the probable fall in the value of gold, &c., &c., by Michel Chevalier. Translation by Cobden. Appleton’s edition, p. 59. PARIS UNIVERSAL EXPOSITION. 999 etar\ system, up to the 1st of January, 18(H), and the amount ot decimal coinage otticially withdrawn from tin* circulation in the same period, was as follows: Francs. Hold coinage. 6,572,113,570 Withdrawn from circulation. 71,082,800 Difference. 0,501,030, 710 Silver coinage. 4,673,150,456 Amount withdrawn. 66,280,101 Difference..*. 4, 606,875,355 Total of gold and silver. H? 107,007,065 Statement of the different kinds of qold and silver coin made according to the decimal system in France , f rom 1705 to December 31,1865. GOLD. Denominations. 100 francs. 50 francs. 40 francs. 20 francs. 10 francs. 5 francs. Total. HH Amount coined. Deducting the pieces withdrawn from circulation . Francs. 36, 837, 300 Francs. 41,839, 300 Francs. 204, 432, 360 Francs. 5, 231,002, 360 Fran cs. 866, 758, 080 48, 589, 920 Francs. 191,244,170 22, 492, 940 rO H Francs. 6,572,113,570 § 71, 082, 860 H There remains in circulation. 36, 837, 300 41,839, 300 204, 432, 360 5, 231, 002, 360 818,168,160 168, 751, 230 o 6, 501, 030, 710 ^ H M SILVER. K t-H Denominations. 5 francs. 2 francs. 1 franc. 50 centimes. 25 centimes. 20 centimes. Po Total. ^ hH r*} Amount coined. Deducting the pieces withdrawn from circulation 1 . There remains in circulation. Francs. 4,435,139, 860 52, 373, 700 Fran cs. 72, 972, 442 Francs. 90, 572, 350 Francs. 60, 964, 943 4, 979, 085 Francs. Cent. 7, 671,101 25 7,671,101 25 Francs. Cent. 5, 835. 769 40 1,256,215 00 d Francs. Cent. 4,673,156,456 65 66, 280,101 25 d 4, 382, 766, 160 72, 972, 442 90, 572, 350 55, 985, 845 4. 579, 554 40 .4, 606, 876, 355 40 £ 1 ^ 1 Pieces remelted for China.francs.. 35, 000, 000 Pieces remelted to make one-franc pieces and fifty-centime pieces, before the law of the 25th of May, 1864.do..-.. 28 199, 000 Pieces remelted by virtue of the law of the 25th of May, 1864.do_ 9 174 700 Sum total, francs. 52 373 700 ===== to to oo PARIS I'XIVERSAL EXPOSITION. •JlU The records of tlu* British mint show that in the 2.'? years from 1ST,'I to 1S{»"), inclusive, gold was coined to tin 1 amount of £ll20,()S!),!HJ8, and silver to the amount of £7,4-W,4tM), making in all £128,13!),427, as shown in the follow ing table : 1 Coinage of (jold and silrer at the British mint , 1843 to 1805. Years. Gold and silver coined at the mint. Light coin withdrawn from circulation. Gold. Silver. Gold. Silver. 1843 . £6, 607, 849 £239, 580 £2, 559,893 £107, 000 1844 . 3, 563, 949 610, 632 3,314, 122 56, 000 1845 . 4, 244, 608 647, 658 718, 075 23, 900 1846 . 4, 334,911 559, 548 609, 143 18, 000 1847 . 5,158, 439 125, 730 660, 477 14,500 1848 . 2, 451,999 35, 442 800, 820 54, 750 1849 . 2, 177, 955 119,592 . 611,139 135, 100 1850 . 1, 491,836 129, 096 465, 633 150, 000 1851. 4,400,411 87, 868 641, 636 100, 0.0 1852 . 8, 742, 270 189, 597 430, 608 48, 200 1853 . 11, 952, 391 701, 545 403, 786 22, 000 1854 . 4, 152,183 104, 480 474, 766 16, 000 1855 ... 9, 008, 663 195,510 379, 563 63, 000 1856 . 6, 002, 114 462, 528 419, 121 74, 000 1857. 4, 859, 860 373, 230 511, 000 92, 568 1858 . 1,231, 023 445, 896 393, 000 67, 500 1859 . 2, 649, 509 647, 064 334, 000 60, 000 1860 . 3, 121,708 218, 403 374, 000 113, 000 1861... 8, 190, 170 219, 484 581, 000 97, 600 1862 . 7,836.413 148, 518 618, 000 135, 000 1863 . 6, 607, 456 161, 172 482, 000 102, 800 1864 . 9, 535, 597 535, 194 456, 000 123, 500 1865 . 2, 367, 614 501,732 645, 000 93, 000 £ 120, 689, 928 £7, 449, 499 £16, 882, 790 £1,767,418 Amount of gold and silver coined at the mint between 1843 and 1865.„„. £128,139, 427 Amount of light gold and silver coin withdrawn from circulation during the same period. 18, 650, 208 £109,489,219 Amount of gold and silver coined at the mint between 1843 and 1865.„„. £128,139, 427 Amount of light gold and silver coin withdrawn from circulation during the same period. 18, 650, 208 Showing an average addition of £4,700,400 a year to the stock of coin in the country, which would not be needed if small notes were allowed to be issued. This table also shows the amount of light gold and silver coin with¬ drawn from circulation during the same period, £18,650,208. This amount deducted from that of the new* coins shows a difference of £10!),489,219 added to the metallic currency of that country in 23 years. The average gold coinage of England slightly exceeds £5,000,000 a year. The average cost of coining a sovereign, including all the mint 5 Fiom “The Science of Finance,” by R. H. Patterson—Edinburgh and Loudon, 1868— pages 43 and REPORT ON THE PRECIOUS METALS. 225 expenses, is found to be 0.72 penny, and the estimated expense of recoin¬ ing 50,000,000 of sovereigns is £279,975. The cost per sovereign, taking the actual expenses during 11 weeks, when 5,663,656 pieces were coined, was found to be 0.311rf. per piece, or of 1 per cent, of the value of the gold. 1 Statistics of coinage of the United States, Great Britain and France, were presented by Mr. S. B. Buggies in his written argument in favor of a 25-franc coin submitted at the sixth sitting of the International Mone¬ tary Conference held during the progress of the Exposition, and they are here given: I. The gold coinage of the United States in the 57 years from 1792 to 1849, next preceding the outburst of gold in Californiain 1849, was. $85,588,038 In the next two years, 1849 and 1850. 94,596,230 In the next 15 years, 1851 to 1866 . 665,352,323 Total. : .$845,536,591 II. The gold coinage of Great Britain in the 35 years from its reform, in 1816, to 1851, was £96,021,151, or $480,105,755 In the 15 years from 1851 to 1866, £91,047,139, or. 455,235,655 Total. $935,341,450 III. The gold coinage of France in 58 years, from 1793 to 1851, was, in francs, 1,622,462,580, or. $324,492,516 In the 15 years, under the empire of Napoleon III, from 1851 to 1866, in francs, 4,938,641,490, or. 987,728,298 Total.$1,312,220,814 Summary. Total coinage by the three nations before 1851: By the United States. $180,184,268 By Great Britain. 480,105,755 By France. 324,492,516 Amount. $984,782,639 From 1851 to 1866: By the United States.,.$665,352,323 By Great Britain. 455,225,695 By France. 987,728,298 Amount.$2,108,356,316 From the testimony of Robert A. Hill, esq., assistant coiner of the royal mint. 15 Gr PARIS UNIVERSAL EXPOSITION. 226 In regard to the coinage of the United States, and other nations, Mr. ltuggles observes: “The amount coined by the United States having been $845,536,591, if two thirds shall be deducted for the portion recoined in Europe or used in the arts, the amount remaining which would require recoinage (for the purpose of unification) would not exceed, in round numbers, $300,000,000. It is true that a portion of the coin of the United States exported to Europe is sent without recoinage to Germany and other continental nations, for the use of tlieir people emigrating to the United States. But if we allow $200 per capita (which, including women and children, would be a large estimate) for 150,000 emigrants, it would amount only to $30,000,000. In view, moreover, of our large importations of foreign merchandise, with our temporary disuse of gold for domestic purposes, even the estimate of $300,000,000 maybe too large. The recoinage, how¬ ever, of the whole amount would cost, at one-fifth of one per cent., (the rate ascertained by experience,) only $600,000.” Mr. Buggies states that the amount of gold now in actual circulation in France, Belgium and Italy is estimated by M. de Parieu and other distinguished economists of Europe at 7,000,000,000 of francs, or $1,400,000,000, and that the amount in circulation in the residue of con¬ tinental Europe would probably carry the total to $1,800,000,000. He further observes: “The estimate of $1,400,000,000 as the gold circulation of France, Italy, and Belgium, will not be regarded as exaggerated when we consider the heavy drain of silver from France during the last 15 years, in connection with tin* fact that its silver coinage from 1795 to 1851 had amounted to 4,457,595,345 francs, or $891,519,069. Of this large amount, at least $750,000,000 are said to have been exported within the last 15 years, principally to the East Indies, leaving the amount of silver now in cir¬ culation in France not exceeding $150,000,000. “The coinage of silver at the royal mint of Great Britain in the 10 years from 1857 to 1866, both inclusive, was only £3,677,182, or $18,385,910. Tin* total coinage of silver in France during the reign of the present Emperor, in the 15 years from 1851 to I860, was only 215,561,101 francs, or $43,112,180. The silver coinage of France, Great Britain, and the United States, from 1851 to 1860, was in round numbers only $117,000,000, against a gold coinage, in the same period, of $2,108,000,000. “So severe, indeed, had become the destitution of small silver coin in 1865, that the treaty of the 23d of December, of that year, authorizing the issue of silver of denominations less than five francs, reduced its standard about 7 per cent., (from .900 fine to .8°5 fine,) to prevent its further disappearance. At the same time, it limited the amount to be coined in France to 239,000,000 francs, or $47,800,000. “Fortunately for France and the commercial world, the surplus gold of the* United States was at hand during these 15 years, ready to be recoined. Steadily filling the immense vacuum caused by this great export of silver, it now invigorates every branch of industry in France. REPORT ON THE PRECIOUS METALS. 227 “The monetary movement in these 15 years on the waters of the globe signally illustrates the power of the oceans not to divide but to unite the continents in a common 4 solidarity.’ Subdued by steam to the use of man, they are now incessantly ministering to the wide-spread monetary necessities of the human race. It needs but a glimpse of their statistics to map out the great oceanic monetary currents. Within that brief period, only the dawn of the opening auriferous era, we discern a mass of gold, in the aggregate exceeding $500,000,000, moving across the Atlantic from the United States; another and still larger volume of $833,000,000 pouring out from Australia upon the surrounding oriental waters, and at least one-half finding its way to London over the Indian ocean, the Mediterranean, and the Atlantic; another golden mass of $620,000,000 crossing the British channel into France, while the great counter-current of $565,000,000 of silver, largely derived from France, is seen flowing out of England and up the Mediterranean on its way to the ever-absorbing East.” From the annexed summary exhibit of the coinage of the United States mint and its branches up to the close of the fiscal year ending June 30, 1868, it will be seen that the total coinage from the commence¬ ment is: Gold... $909, 516, 715 67 Silver. 130, 507, 493 62 Total of gold and silver. $1, 040, 024, 209 29 Summary exhibit of the coinage of the mint and branches to the close of the fiscal year ending June 30, 1868. Mints. Coin men cement of coinage. Gold coinage. Silver coinage. Copper coin¬ age. Entire coinage. Value. Value. Value. Pieces. Value. Philadelphia. 1793 $441, 904, 870 50 $90, 702, 984 74 $9,128, 548 55 1, 033, 853, 686 $541, 736, 403 79 San Franp.woo 1854 o^n 474 656 81 6, 683, 957 17 26,129, 483 257 15R 613 98 New Orleans, (Jan. 1838 wOO, Til, UOO Ol 40, 381, 615 00 29, 890, 037 13 94, 890, 695 1 (JO, U 1 u so 70, 271, 652 13 31, ’61.) Charlotte, (Mar. 31, 1838 5, 048, 641 50 1, 206, 954 5, 048, 641 50 ’61.) Dahlonega, (Feb. 28, 1838 6,121, 919 00 1, 381, 780 6,121,919 00 ’61.) Assay Office, New 1854 163,901,963 17 3,230, 514 58 167,132,477 75 York. Denver. 1863 1, 683, 049 69 1,683,049 69 Total. 1 909, 516, 715 67 130, 507,493 62 9,128, 548 55 1,157, 462, 598 l, 049,152, 757 84 PARIS UNIVERSAL EXPOSITION. 228 Table V. in tin* appendix, shows in detail the amounts coined in each year, and the following gives the averages of coinage for each decade, 1793 to 1S(»S, inclusive: Recapitulation of averages of coinage for each decade from 1793 to 1808, inclusive. Years. Gold. Silver. Copper. Total. 5126, 786 25 i §180, 056 84 |9, 923 85 $316,766 94 1801-1810, 10 years. 325, 074 25 356,916 52 15,124 64 697,115 41 1811-1820,10 years. 316,651 00 597,081 09 19,115 86 932,847 95 1821-1830, 10 years. 190, 309 25 1 678,104 69 15, 141 22 1,883,555 16 1831-1840, 10 years. 1, 879,186 20 2, 719, 977 90 34 232 22 4, 633, 396 32 1841-1850, 10 years. 8, 944, 332 80 2,222, 675 50 38, 067 08 11.205,075 38 1851-1860, 9£ years. 49,561,913 79 5,061, 869 80 131,538 16 54, 755, 321 75 1S61-18G8, 8 years. 40. 138, 587 46 1,778, 964 82 822, 840 62 42, 740, 392 00 USE IN THE AETS, AND LOSS BY WEAEING. The estimates made by Jacob of the amount of the precious metals used in the arts have already been partly presented. He thought that it amounted in 1830 to about £5,900,00 a year. This is thought by many to be an under estimate. McCulloch thought that* the value of gold and silver in Great Britian, in 1857, in the shape of plate, watches, jewels, and trinkets, might be safely estimated at £4 to each individual of the entire population, or a value in the aggregate of about £88,000,000, and adding £12,000,000 for Ireland, to £100,000,000. Extending the esti¬ mate to other countries, he concludes that in Europe, America, and Australia, the amount so used cannot be less than from £15,000,000 to £16,000,000 yearly. “But of this a portion, estimated at one-fifth or 20 per cent., is supposed to be obtained from the fusion of old plate, the burning of lace, picture frames, &c. And hence, if we (Induct from the £15,000,000 used in the arts 20 per cent, for the old bullion, we have £12,000,000 for the total quantity of the supplies from the mines annu¬ ally disposed of in this way, a considerable portion of which, including that used in the gilding of rooms, earthenware, books, harness, but¬ tons, &c., cannot be again recovered or applied to any useful purpose.” 1 A very large amount of silver and gold is now annually consumed in electro-gilding and silvering of household plate, and trimmings of various kinds, but it should be noted that articles plated in this way have replaced to a considerable extent those of solid silver and gold, or at least that the manufacture of solid silver ware has not increased as it would if this art had not been discovered. It is stated that one establishment in the United States—the Gorham Manufacturing Company—uses up 26 tons of silver annually, or 2,000 ounces a day, in the production of silver-ware and plate. The amount of loss of the precious metals during transmission by sea and land and in circulation is difficult to ascertain with any precision, ‘Ency. Brit, xviii, 466. REPORT ON THE PRECIOUS METALS. 229 but it is an element which must enter into any calculation of the amount of these metals in existence. Considerable attention appears to have been given to this subject, but the investigations generally seem to have been very loosely conducted, and the results are altogether unsatisfactory as a guide for an estimate of the annual loss at the present time. The estimate by Jacob has already been explained, page 201. He assumed that the money in circulation, or rather the total stock of bullion, was diminished 10 per cent, in each period of 36 years, and upon this assump¬ tion he makes a total deduction of $188,000,000 for the period from 1492 to 1809. In the years 1787 and 1798 experiments were made by the officers of the royal mint to ascertain the deficiency of weight of the various silver coins in use. - In 1787 it was found that 12^ crowns, or 27 half crowns^ or 78^ shillings, or 194^ sixpences, were requisite to make up a pound troy, instead of 12 T 4 0 crowns, or 24-^ half crowns, or 62 shil¬ lings, or 124 sixpences, as issued from the mint. In 1789 it was found that 12|^ crowns, or 27 |t. half crowns, or 82^ shillings, or 200f^ sixpences, were requisite to make up a pound troy, instead of 12T£ crowns, or 24f-| half crowns, or 62 shillings, or 124' six¬ pences, as issued from the mint. Comparing the deficiency of weight of these several denominations of silver coins with their legal weight as issued from the mint, the loss amounts in the crowns to 3Tfi per cent., in the half crowns to 9 T 9 T 9 ¥ 1 T per cent., in the shillings to 24 T||t per cent., in the sixpences to 38|f|T per cent. “It is singular that these several silver coins, particularly the shil¬ lings and sixpences, though in general they retain no remains of any impression, or any rough edges, which would make them subject to fric¬ tion, appear to have diminished by use, in the short interval of eleven years, according to the experiments above mentioned, in the following proportions crowns, per cent. $ half crowns, lfff per cent.; shil¬ lings, 5^9 per cent.; sixpences, 3Tiff per cent.” Woolhouse says that the wear and tear of the gold coinage is such that very nearly 3 per cent, of the whole circulation goes out annu¬ ally, and the quantity which suffices to throw a sovereign out of circu¬ lation is parts. McCulloch, taking into account the extraordinary extension of navigation and emigration, the risks of ship>wreck and other accidents, estimated the loss, including wearing, at about 1^ per cent, of the entire mass of the currency. The testimony given before the royal commission on international coinage by J. Miller, of the weighingroom of the bank of Englond, contains some valuable data upon the loss of weight of sovereigns by wear. 2 One thousand sovereigns, as issued from the mint, weighed, in parcels of 100 each, 25.68 ounces, or 256.80 in bulk, value at £3 17 s. 10per ounce, £999 18s. 2£d., or 20,9. each; 3,000 sovereigns, as in circulation, weighed, 1 Lord Live] pool’s Treitise, pp. 187, J88. Report, 1868, p. 94. 230 PARIS UNIVERSAL EXPOSITION. in parcels ot‘ 1.000 each, 255.87 ounces, 255.7(5 ounces, and 255.80 ounces, or an average of 1O.v. 11 iu their government. 2 1 A late writer on the science of finance points out the fact that although in Great Britain the protective system has been abandoned for free trade, yet protection has been practically revived in the monetary legislation, and still more by the Bank of England. The repeated raising of the rate of discount has been applauded because it tends to increase the import and repress the export of precious metals. It is easy to see that any legislation which represses the exportation of gold and silver operates practically as a protective tariff. 2 Newmarch, in “ Enqu6te sur les Principes et les faits GenSraux qui regissent la Circula- ion Mon6taire et Fiduciare,” folio v, 1867, p. 539. 238 PARIS UNIVERSAL EXPOSITION. MEANS OF PROMOTING TI1E PRODUCTION OETIIE PRECIOUS METALS. ENCOURAGEMENT OF VEIN MINING. lii view of the continued decrease in the production ot gold Loin placet deposits, it becomes important to encourage and promote the extinction of gold from veins in every possible way. There are other great reasons for encouraging* vein mining enterprises. They are peimnnent in their nature, and promote the general development and prosperity of the country by attracting a fixed population, composed of artisans, agricul¬ turists, and others. 1 In California, thriving towns and villages spring up around the quartz mines in the interior, where, without the mines, all would be comparative desolation. The superficial placets in Cali¬ fornia and elsewhere are soon worked out and deserted, and the placet miners are constantly roving about without fixed homes or property. It is somewhat different in regard to the deep placers and cement mines; they partake of the nature of permanent vein mines, yet are not so attractive as centres of population. It is an extremely encouraging fact that vein mining in California and Australia is now, or at least was in 1800, more successful than at any former period. The number of successful vein-mining enterprises is increasing. In Australia, this branch of mining appears to have been extraordinarily developed, and to be followed to relatively greater extent than in California. Of the total gold production, of nearly 1,500,000 ounces in 1800, more than 500,000 were from quartz veins. The exact ratio of the production from the two sources was as 35 to 05. In 1807, of the total of 1,433,087 ounces exported, 500,527 ounces were taken from quartz veins, and 873,100 ounces from alluvial workings. This shows the ratio per cent, of gold produced from quartz veins to that from placers to be as 30 to 01. It is not possible to ascertain exactly the present production of the quartz mines of California, but it is probably less than one-third of the cross vield of the State, but is increasing. The number of stamps in 1800 was 4,097, many of which, however, were idle. 2 In Australia there were 5,437 stamps. In December, 1807, the number of stamps in the several mining districts was 5,529, and the aggregate horse power em¬ ployed in crushing and hoisting was 9,555. 3 All gold-producing regions become large consumers, not only of the necessaries of life, but of manufactured articles of all kinds and of luxuries. This is shown in a striking man¬ ner in the gold regions of California and Australia, and in Nevada. 2 There was no machinery of special intercut to quartz miners shown in the Exposition, excepting, perhaps, the beautiful hoisting engines, stee 1 '•ages, and machines for drilling rocks, and the concentrating tables of Rittinger. It is believed that the stamps and other appliances in California for the extraction of gold from quartz are unrivalled, yet there is great room for their improvement, and for improvement of processes of treating the sul- phurets. 3 Further interesting statistics of quartz mining in Australia, received since the foregoing pages of this report were printed, will be found in the appendix. REPORT ON THE PRECIOUS METALS. 239 GOVERNMENT PROTECTION REQUIRED. It is a primary duty of the government having a public domain of such great extent and wonderful richness to foster and protect mining enterprises, not only in order to promote the production of gold, silver, and ordinary metals, but as one of the best means of stimulating immi¬ gration, settlement, and the march of industry in all directions. Mining, considered in its importance to the wealth of the country, is an interest which cannot be neglected in legislation without serious loss. The veins of gold, silver, and other metals should be regarded as the heritage of the people, and while these veins should be left free to all who choose to work them, they should not be completely abandoned to hap-hazard destructive development. The government should exert over them an intelligent protecting and directing care, and adopt such laws and regulations as will best promote permanent successful mining, preventing waste, the loss of the precious metals by careless and igno¬ rant working, the complication and conflict of titles, and the holding of claims for merely speculative purposes, without any efforts being made to open and work them. Nearly all the great exhibitions of mineral products in the Exposition illustrated the value of government direction and regulation of mining industry. The most satisfactory and perfect exhibitions were those made under the direction of government mining engineers. The collections were methodical and complete exhibits of the mineral resources of each country, and they were accompanied by maps and sections of mines in detail and by statistical publications prepared with the greatest care every year. The relations of position of the veins of ores and of beds of coal to the geological formations were shown by geological maps and sections and by models on a large scale, showing not only the inequali¬ ties of the surface of great districts of country, but the position of the coal beds below the surface, and the location of every mine. By fostering mining enterprises and by thoroughly educating and training men to conduct them, many countries, whose resources in the precious and other metals are comparatively meagre, are successful pro¬ ducers of gold and silver from ores and veins such as in the United States would not be regarded as worth the labor of working. Every portion of an ore is utilized, and valuable products are obtained where without science and skill they would be wasted in residues. It has been shown in these pages that gold ores produced upon the slopes of the Eocky mountains and found to be “rebellious”—difficult to work—have been transported with profit, in a partly worked state, over the immense plains and across the whole breadth of the States east of the Mississippi, and then shipped across the Atlantic, to be successfully worked at Swansea, in Wales, simply for the want of a proper development of metallurgical science and industry in the United States. We must not lose sight of the fact that we not only send some of our ores abroad to be worked, PARIS UNIVERSAL EXPOSITION. 240 1 > 11 1 that many of our young men are also sent abroad to obtain that thorough education and training in government institutions which they are unable to obtain at home. IMPORTANCE OF A NATIONAL MINING COLLEGE. The establishment of a national mining college would be one of the best or most effective means of securing the proper working of the mines and of promoting permanent and profitable mining enterprises, and thus tend to maintain a large production of the precious metals, especially from veins and deep placers, or wherever capital and skill is required. The dissemination of accurate information regarding mineral veins and tlieir contents, and upon the various methods for (Extracting and reducing the ores economically, would prevent much of the present ill-directed energy and expenditure of time and money, often upon localities where there is little room to hope for success. Such institutions are absolutely neces¬ sary to gather the teachings of experience and to place them in a form available to the many persons now interested and yet to be engaged in mining, and to the prospectors who are penetrating our unequalled mineral regions in all directions and are constantly discovering new sources of wealth. The country cannot do too much to sustain and encourage the men who are thus prospecting the unexplored and almost inaccessible portions of the public domain, and to whom we are chiefly indebted for the discoveries which have been made. We should not leave them to labor unaided, but should follow them by organized explo¬ rations, by careful examinations of the veins and mineral deposits which they discover, and by the speedy publication of reliable and full infor¬ mation upon them. One of the prominent features of a school of mines should be practical laboratories and metallurgical works upon a moderate scale, in which the students could take practical lessons in the working of ores by all the known and approved methods, including the mechanical preparation of ores, their concentration by water and by fire in furnaces, or their reduction in pans or otherwise. These laboratories would be min¬ iature metallurgical establishments, where ores of all kinds, “docile” or “rebellious,” w< mid be received, experimented upon, and treated by thebest methods, while the theory of the processes would be fully given and the chemical reactions explained, so that the students would obtain a thorough knowledge and comprehension of the principles involved in the chemical treatment of ores and be prepared to adapt themselves to other circum¬ stances in which they might be placed when called upon to treat ores in regions remote from supplies. Such a government mining school would not only directly promote mining industry, but it would greatly increase the amount of exact scientific knowledge among the people, and thus promote, in the most effectual manner, general scientific education, the results of which would be felt in all our industrial pursuits. REPORT ON THE PRECIOUS METALS. 241 It is gratifying to all tlie friends of mining industry to know that the establishment of such an institution is already engaging the attention of Congress. Foremost among its advocates is Senator Stewart, of Nevada, who in 1867 introduced and ably supported a bill for the organization of a National School of Mines. CORPS OF MINING- ENGINEERS SUGGESTED. In connection with, and as partly growing out of, such a mining col¬ lege, the government should organize and make provision for a corps of mining engineers, to be filled subsequently by the graduates of the college; the members of the corps to have rank and promotion corresponding with the grades of the corps of military engineers. Such a body of thoroughly educated men should be charged with the duty of exploration of our mineral regions ; with the collection of infor¬ mation upon them; with the preparation of reports upon mineral depos¬ its, and memoirs upon mining and metallurgy, all of which would form the basis for publications at regular intervals, giving to the people such information as would best promote their interests and the national pros¬ perity. Engineers, so educated and sustained by the government, would be animated by laudable ambition and enthusiasm, and would be strength¬ ened by an esprit de corps tending to their moral and aesthetic elevation. They would be in a position to give independent and reliable opinions and advice upon the value of our mineral deposits and the best method of developing them. Such an organization would open a new and inviting field to our young and enterprising men, the graduates of schools of science, and others, who seek a career in the fields % of science. In view of the recognized necessity of thorough technical education to the highest industrial and commercial development of a nation, the organization of a national corps of mining engineers has an increased, importance; for, as already argued in regard to the influence of a mining college, it would have an immense influence in promoting general scientific education, thereby causing an exact knowledge of the funda¬ mental laws of nature to pervade the people, and giving them a greater power over our vast material resources. Another great means of increasing the production of the precious metals is the construction of railways across the country, by which prospectors and supplies can be carried into the heart of what are now comparatively unexplored and unknown mineral regions; and by which machinery can he delivered at moderate cost to extensive regions already known, but remaining comparatively dormant for the want of rapid and cheap com¬ munication with the centres of supply both east and west. 16 G CHAPTER X. UNIFICATION OF GOLD AND SILVER COINAGE. Evils of a Diversity in the Systems of Weights, Measures, and Coins—Advan¬ tages of a simple Universal System—Movement for Monetary Unity—Mon¬ etary Convention—Observations of Mr. Beckwith, Mr. Kugoles, and Senator Sherman on the Treaty—Propositions by Mr. Kennedy adopted by the Committee—International Monetary Conference—Argument favoring a 2.'-franc Coin—Professor Levi’s Speech—Report of Delegation from Great Britain—Report of Royal Commission—Views of M. Chevalier—Opinions EXPRESSED IN THE UNITED STATES, AND THE PROPOSED LEGISLATION—CONCLUSION, ‘ The inconveniences and losses arising from the great diversity of sys¬ tems of weights, measures, and coins among the chief nations of tlie earth have long been felt and acknowledged, but they are becoming greater and more evident with the constantly increasing facilities for international communication, by which the people and the commodities of remote regions are brought into constant and close contact. The collections in the department of weights, measures, and coins of the Paris Exposition comprised no less than 3G different systems of weights, based upon 30 different units; 07 different systems of measures, based upon G2 different units; and 33 different standards of gold and silver coin belonging to 18 different monetary systems, based upon 18 different units or measures of value. ADVANTAGES OF A UNIVERSAL SYSTEM. The numerous benefits to be derived from a universal system, simple and uniform, in place of this great incongruity and disorder, are not always present to the minds of those who are not occupied with the study of this subject. They may be grouped under the heads of educa¬ tional, economic and scientific, and commercial. Some of the advan¬ tages under each of these heads will be noted. EDUCATIONAL. The nature and relations of numbers, together with the systems of weights, measures, and coins, belong to the elementary studies of chil¬ dren in common schools. They are the rudiments or beginnings of knowledge taught by all nations, of every-day use through life, and noth¬ ing more generally useful or necessary is subsequently learned even by those who live to be venerable philosophers and statesmen. But how¬ ever indispensable this part of knowledge is, no common school under¬ takes to teach more than a part of it. So many systems without any common or connecting principle, or with so many different principles of REPORT ON THE PRECIOUS METALS. 243 evolution, cannot be mastered and retained in the mind without long study and great efforts. It is practically impossible for the great portion of the people to acquire a complete knowledge of the many different sys¬ tems, and, indeed, it is rare to find those who acquire and retain any permanent knowledge of the systems of any one country. The incohe¬ rent and illogical- systems are difficult to remember, and the recollection of them becomes dim and uncertain, if not frequently revived. If the systems of all countries were effectively resolved into one, based upon a decimalized unit, this entire branch of useful knowledge would come within the easy comprehension and reach of every child, and the time required to learn and understand it would be many times less than is now necessary for the incongruous systems of any one country. ECONOMICAL AND SCIENTIFIC. The subject becomes more interesting, if not more important, in its connection with the studies of the more advanced student. No one can acquire a thorough, or even a respectable knowledge of political and social science without an easy familiarity with the various systems of weights, measures, and values. The relation of labor to capital, for example, is a subject which at present attracts serious attention in all civilized countries, and an intelligent inquiry involves the study of social and industrial organizations, and the products of labor and skill of many kinds in many countries. These investigations cannot be made useful, comparisons cannot be drawn, and instructive results be attained with¬ out a knowledge of the numerous systems. The science of economics is, for the most part, based upon statistics, and the study of a wide range of statistics is impossible without the use of the keys which unlock them and render them intelligible. But so great is the labor of conversion of numerous systems into the one system of appreciation most familiar and easy to the mind, that foreign statistics, to a very great extent, as they are presented to us, are but approxima¬ tions and rough estimates embracing many errors. The advantages of a uniform system of measures and values in collecting and diffusing use¬ ful knowledge in this department are obvious. They are specially evident to those who have been led to study the Exhibition and learn the lessons taught by the products and statistics of various countries. They will be evident to the readers of the reports on the Exposition. The labor of preparing the present report and of deducing conclusions would have been greatly lessened if the statistics of various countries had been pre¬ sented in one uniform system of weights and values. Its accuracy and its value would also have been greatly enhanced. COMMERCIAL. The numerous and intelligent body of men engaged in commerce in all countries are familiar with the importance of a uniform system of measuring quantities and values. 244 PARIS UNIVERSAL EXPOSITION. Commerce is the exchange of products; quantity and value are ele¬ ments of exchange, and conversions of quantities and values from one system to another, or rather from all systems into the one most habitual to the individual, and in which his appreciations will be most accurate is the endless labor of the merchant. To find the equivalent of one quan¬ tity in another system of expressing quantities, or of one value in another monetary system, by conversion, is indeed considerable labor, and if the data or elements of the computation do not previously exist in the mind the attempt will generally end in a resort to formulas or to tables used mechanically and without understanding them. Much time is lost in such computations, and the labor often necessitates the employment of experts at high salaries. All such difficulties operate as hindrances to trade and commercial expansion. Witnesses examined before the Royal Commission stated that the smaller manufacturers and traders of Great Britain are deterred from engaging in foreign transactions by the diffi¬ culties attendant upon a diversity of weights and measures, and by the difficulty of calculating exchanges and of remitting small sums from one country to another. Commercial statements, invoices, and lists of prices expressed in the moneys of foreign countries are not readily intelligible in England or in the United States. The adoption of an international uniform monetary system would facilitate and lead to the extension of the money-order system to foreign countries, by which the remittance of small sums could be made at will by the people. Monetary systems are theories for measuring and computing values, and exist chiefly in matters of finance and account. Coin is but the ma¬ terial expression of parts of those systems, made to pass from hand to hand as measures of value in exchange of products and property, and whenever the monetary systems are harmonized corresponding changes in coin will naturally follow. Among the most useful things which have become nearly universal among the nations are the numerals of the Arabs and the alphabetic letters of the Romans. A conviction of the benefits of these unities is felt in every industry, every profession and occupation, every branch of science, art, and literature, and a like conviction of the importance and necessity of a universal system of weights, measures, and values is grow¬ ing in the public mind—in the mind of the whole civilized world;—it spreads with the increase of commerce, the exchange of ideas, and the diffusion of knowledge. A movement so universal, so peaceful and harmonious, and so desira¬ ble, is not likely to cease nor diminish, but to augment in force and velo¬ city. The inequality of the movement hitherto is remarkable. Several countries have entirely abolished their ancient incongruous systems and adopted the metrical-decimal system, which though not perfect is thought by many to be the best that has yet been found. Numerous other countries have adopted portions of this system, while Great Britain and the United States have legalized the two sections rela- REPORT ON THE PRECIOUS METALS. 245 ting to weights and measures, rendering the use of them permissible. The monetary section makes the slowest progress. To this branch of the subject the attention of the governments participating in the Paris Exhibition was particularly invited by the Emperor of Prance, which resulted in the formation of an International Committee at Paris in 1866, and an International Conference in 1867. The following extracts from the reports and documents show the nature of the inquiries and discussions of the Committee and the Conference, the result of their labors, the subsequent action of Congress, the move¬ ments in England, and the present state of the subject. MONETARY UNITY. The subject of monetary unity is appropriately introduced by Baron de Hock as follows : 11 The inconveniences which result from the diversity of monetary sys¬ tems exceed even those growing out of the diversity of the systems of weights and measures. These are confined to the trouble and loss of time occasioned by the tedious calculations required to pass from one system to the other j still the objects which are weighed or measured continue the same, and may be made use of anywhere. In the case of coin, on the contrary, besides similar calculations of allowance which are necessary, the objects themselves—that is, the coin—lose a portion of their value in passing from one country to another.” * * # * * “It cannot be doubted that the universal unification of coins, by creating a common medium of circulation, constitutes one of the most effective means for the development of general commerce. Such a medium, adopted by every State and individual, saves the loss of time and the trouble caused by the computation to which it is constantly necessary to resort to ascertain the precise value of the different coins; it reduces to a minimum the rate of exchange, that painful burden to commerce j it obviates the losses from exchange of money, to which the arts and manufactures and, not less, travellers are subject; it increases the utility of money, and thereby even its value j it diminishes the needs of circulation, and tends finally to an immediate and radical cure of the crises which spring up in commerce by the accumulation of money at one point and its absence at another. u The idea of a unification of the coins is so elevated and the purpose so useful that, whenever a favorable situation renders its adoption pos¬ sible, no progressive people, desirous of entering upon the great and fruitful road of universal commerce, can remain indifferent or reject it, unless from motives of the last importance.” 1 At the preparatory conference relative to the establishment of an international system of measures, weights, and coins, held at the Palace of Industry in Paris, May, 1866, Mr. Le Play stated the object of the meeting as expressed in the notice. During the Exhibition of 1855 a 1 Extracts from the report of Baron de Hock. 24G PARIS UNIVERSAL EXPOSITION. special committee, of which many persons present were members, con¬ sidered the means of simplifying the operations of international com¬ merce by the adoption of a common system of weights and measures. The conference caused the formation of societies for that especial pur¬ pose in many countries, particularly in England. Many of these socie¬ ties expressed the desire to revive the question at the Universal Exhi¬ bition of 1807. At the second session Mr. Le Play, Commissioner General of the Ex- ' liibition, introduced Mr. Leone Levi, professor of King’s College, Cam¬ bridge, as a delegate of the metrical committee of the British Association for the Advancement of Science, and the International Association for obtaining a uniform decimal system of measures, weights, and coins. Mr. Leone Levi then read the following note: u Universal exhibitions have shown that much remains to be done to facilitate international communications, and among the chief wants is a common system of measures, weights, and coins. “ This want was greatly felt at the International Exhibition of 1851, and on its close the London Society for the Encouragement of Art, In¬ dustry, and Commerce informed the government that it would be well to consult with neighboring nations to see if measures could not be taken to hasten the adoption of a uniform system for the entire world. u At the Universal Exhibition of Paris in 1855, the juries and com¬ mittees of the different countries, to the number of two hundred, signed a declaration that one of the best ways to promote industry would be to adopt a universal system of weights and measures. u At the London Exhibition of 1862 a like report was made by the juries of different kinds, particularly that of chemistry. “ Other international and scientific assemblies, recently held, have ex¬ pressed the same opinions. The International Statistical Congress, at Brussels in 1853, Paris in 1855, Vienna in 1859, and Berlin in 1863, found great difficulty in reconciling the differences of unity, giving the statistical facts of different countries. Different societies, such as the British Association for the Advancement of Science and the Academy of St. Petersburg, have expressed their opinions upon the advantages to science of uniformity in scientific communications. And finally, after the Paris Exhibition, a special international association was founded to obtain the adoption of a decimal system of measures, weights, and coins. Certain legislative measures of considerable importance have been taken for the same purpose. u A committee was formed in 1862 in the House of Commons to con¬ sider the practicability of a simple and uniform system of weights and measures, to be applied to foreign commerce as well as to domestic trade, and upon its report the legislature declared the metrical system to be a law. The adoption of decimal coins has also been considered by the legislature, and the discussion of the subject has progressed. The German states have also found the necessity of unity in their REPORT ON THE PRECIOUS METALS. 247 weights and measures, and after two official conferences at Frankfort in 1862 and 1865, they concluded to favor the metrical system. Many other states, such as Spain, Portugal, and Italy, have taken similar steps, and by a treaty relative to coins, recently concluded between France, Belgium, Switzerland, and Italy, those states have formed a monetary union. The United States have lately undertaken the same subject. An inquiry has been instituted, and a bill has been introduced into Congress for the adoption of the metrical system. Yet there remains much to be done to complete the work, for there is not only a difference in the national systems of measures, weights, and coins, but there are local and customary measures that embarrass trade and com¬ plicate international reckonings. The great difficulty is in a practical application; and the best way to overcome this is to exhibit the measures, weights, and coins in use in different countries at the Universal Exhibi¬ tion of 1867, anddo settle it when the committees having the considera¬ tion of the subject meet in Paris. This is suggested as the best plan. “ For these reasons, the International Association to obtain a uniform decimal system of measures, weights, and coins, and the metrical com¬ mittee of the British Association for the Advancement of Science have instructed me to agree with the Commissioner General upon the means of realizing an exhibition, under the auspices of the Commission of the Universal Exhibition for 1867, comprising the following articles: “ 1. A collection of weights and measures, their multiples and sub¬ multiples, and every legal weight and measure used for any purpose. “2. Two collections to show both sides of all the current coins of last government issue, with specifications of pure metals in them of gold, silver, or copper, and their size, weight, &c. 11 3. All official documents on the subject, and particularly every report of legislative committees in regard to a change in the weights, measures, or coins of the countries. “The two associations desire, morever, that an international con¬ ference be formed for the Exhibition of 1867, composed of competent per¬ sons in a scientific, industrial, and commercial point of view, to study the objects and documents exhibited, so as to adopt as soon as possible a uniform decimal system for every country. These conferences might also consider analogous questions of a more scientific nature, and of interest to the progress of civilization.” Mr. Leone Levi added, that the association to obtain a uniform sys¬ tem of weights and measures, instituted after the London Exhibition of 1855, had decided, after much inquiry, to encourage the use of the metrical system, because it was founded on nature, and was the most scientific and generally known. Mr. Mathieu stated that the Bureau of Longitudes, with which he was connected, had printed the bill in English, with the translation and the comparative table of weights and measures. If the decimo-metrical sys¬ tem of weights and measures were adopted as an international system, 248 PARIS UNIVERSAL EXPOSITION. the trouble among the scientific men of all countries about the unities of different nations and provinces, in commercial relations, would be avoided. The bill mentioned by Mr. Mathieu, as introduced into the House of Commons, is a happy step toward the desired result. The following is a translation of the treaty concluded December, 1805, above referred to by Mr. Levi: MONETARY TREATY BETWEEN FRANCE, BELGIUM, ITALY, AND SWIT¬ ZERLAND. Article 1. Belgium, France, Italy and Switzerland unite to regulate the weight, title, form, and circulation of their gold and silver coins. No change is made for the present, in legislation, relative to copper coins for the four countries. Art. 2. The high contracting parties bind themselves not to coin, or permit to be coined, any gold other than in pieces of 100, 50, 20,10, and 5 francs in weight, title, tolerance, and diameter, as follows: All these coins shall be of the fineness or title of .900, with a tolerance of two thousandths above or below the legal standard. The tolerance in weight shall be for the 100 and for the 50 franc pieces, one thousandth above or below; for the 20 and 10 franc pieces, two thousandths; for the 5-franc pieces, three thousandths. The weights and diameters are these: Gold coins. —100 francs, weight 32.258.0(3 grams, diameter 35 millime¬ tres; 50 francs, weight 10.129.03 grams, diameter 28 millimetres; 20 francs, weight 6.451.G1 grams, diameter 21 millimetres; 10 francs, weight 3.225.80 grams, diameter 19 millimetres; 5 francs, weight 1.012.90 grams, diameter 17 millimetres. The different states will receive all the above coins when not worn to one-half per cent., or the devices effaced. Art. 3. The contracting governments bind themselves not to coin, or permit to be coined, silver pieces of 5 francs, except in the following weight, title, tolerance, and diameter: The weight of each 5-franc piece shall be of twenty-five grams; its tolerance in weight, three thousandths; its fineness, .900; its tolerance in title two thousandths; and its diame¬ ter thirty-seven millimetres. They will receive the above pieces at par, unless reduced one per cent, by wear, or the device is worn off*. Art. 4. The high contracting parties will coin hereafter pieces of 2 and 1 franc, 50 and 20 centimes, only under the following conditions of weight, title, tolerance, and diameter: The fineness of these pieces shall be of .835; their tolerance of title, three thousandths; their tolerance of weight, five thousandths for the first two, .007 for the 50-centime piece, and .010 for the 20-centime piece. Their weights and diameters as fol¬ lows : Silver coins. —2 francs, weight 10 grams, diameter 27 millimetres; 1 franc, weight 5 grams, diameter 23 millimetres; 50 centimes, weight 2.50 grams, diameter 18 millimetres; 20 centimes, weight 1.00 gram, diame¬ ter 1G millimetres. REPORT ON THE PRECIOUS METALS. 249 The above pieces shall be recoined by the respective governments when reduced by wear, or when their devices shall have become effaced. Art. 5. Pieces of 2 and 1 franc and of 50 and 20 centimes of a differ¬ ent coinage from the above, shall be withdrawn from circulation by the 1st of January, 1869. This term is extended for the pieces of 2 and 1 franc, issued in Switzerland, by the law of January, 1860. Art. 6. The silver coins authorized in article 4 shall be a legal tender privately to the sum of fifty francs. The nation issuing them shall receive them in any amount. Art. 7. The public banks of each of the four countries will receive the coins of article 4, to the sum of 100 francs, in payment to said banks. The governments of Belgium, France, and Italy will receive the Swiss 2 and 1 franc pieces of 1860, under the same conditions, as equivalent to the coins of article 4, and under the reservation relative to wear. Art. 8. Each of the contracting governments binds itself to receive from banks or individuals the small coins they have issued, and return the equivalent in current coin, (gold or 5-franc silver pieces,) provided the sum presented be not less than 100 francs. This obligation shall extend two years beyond the expiration of this treaty. Art. 9. The high contracting parties agree not to issue a greater amount of these 2 and 1 franc, 50 and 20 centime pieces of Article 4, than six francs for each inhabitant. The amount thus fixed in accordance with the last census and the presumed increase of population is fixed at— Francs. For Belgium... For France .... For Italy. For Switzerland 32,000,000 239,000,000 141,000,000 17,000,000 Exclusive of the above sums the different governments can issue of coins already in circulation in the following proportions: France, in 50 and 20-centime pieces, by the law of May 25, 1864, 16,000,000 j Italy, in 2 and 1 franc, 50 and 20 centime pieces, by the law of August 24, 1862, 100,000,000 j Switzerland, in 2 and 1 franc pieces, by the law of January 31, 1860, 10,500,000. Art. 10. Hereafter the date of issue shall be stamped on all the gold and silver coins issued by the four governments. Art. 11. The contracting governments shall give the quantity of their issue of gold and silver coins every year, the amount collected for melt¬ ing, and make a general annual report of the proceedings. They shall likewise give notice of important facts in regard to the circulation of their issues. Art. 12. Any other nation can join the present convention by accept¬ ing its obligations and adopting the monetary system of the Union in regard to gold and silver coins. Art. 13. The execution of the reciprocal engagements contained in PARIS UNIVERSAL EXPOSITION. 250 the present convention is left to the high contracting powers, who bind themselves to pass laws for the purpose as soon as possible. Art. 14. The present convention shall remain in force till the 1st of January, 1880. If it be not repealed a year before the expiration of that term, it shall remain in force for an additional period of 15 years, and so on, until repealed. Art. 15. The present convention shall be ratified, and the ratifications exchanged at Paris, within six months, or less time, if possible. EXTRACTS FROM TIIE REPORT OF THE COMMITTEE, APPOINTED IN FRANCE, TO EXAMINE A BILL RELATIVE TO THE TREATY. A monetary disturbance has existed in France for several years, caused by a variety of circumstances. Our monetary system lias two standards for its basis: In the first place, the silver franc, of the weight of five grams, and of .900 fineness, is the monetary unity by the law of the 7 Germinal, year XI; and the 20-franc gold piece, weighing 6.451, of .900 fineness, by arti¬ cle six of the same law, 7 Germinal, year XI, is the legal equivalent of the franc multiplied by 20. That law, fixing our present monetary system, reckoned a kilogram of pine silver at 222 francs 22 centimes, and one of pure gold at 3.444 francs 44 centimes; which makes the difference in value of the two metals in the proportion of 1 to 15£. Can this relation remain fixed, or is it modified by circumstances ? It has been stationary for nearly one-half a century. Silver was the usual money; gold, in small quantities, was at a premium. About the year 1835, by reason of improvement in refining, the 5-franc silver pieces of the earliest coinage were hunted up and melted to extract the gold they contained. Yet the relation between silver and gold continued the same. But the discover¬ ies of gold in Russia, California, and Australia, between the years 1846 and 1850, brought gold abundantly into the European markets. The metal fell in value, and 5-franc silver pieces were more than ever sought for. The government took note of this, and a committee was appointed in 1850 to investigate it. Thiers was its chairman. The political troubles of the time prevented action. The difference of value of the two metals increased, and speculators began to buy up the smaller silver coins. Two other circumstances hastened the disappearance of silver from cir¬ culation : the loss of our silk worms and the American civil war com¬ pelled us to buy silk and cotton from the east to keep our factories going; and, as silver is more valued in those distant lands, we had to pay for the imports in silver, having no produce to exchange for them. And there was yet another reason to make silver more valuable: the improve¬ ment in the circumstances of our laboring classes increased the necessity of small coin for change. A committee in 1857, and another in 1861, were commissioned to investigate the subject. It was shown that the yield of silver and gold from the Xew World, from the time of its dis¬ covery to 1846, was as two to one; whereas the yield now was three of REPORT ON THE PRECIOUS METALS. 251 gold to one of silver. It was also shown that silver 5-franc pieces had almost entirely passed out of circulation; that out of 214,463,000 francs in small coin, issued since the year XI up to 1864, there remained 160,000,000 in circulation; and that the last issues of 43,000,000, made since January 1, 1856, were immediately absorbed by speculation. The fact was serious. To increase the weight or fineness of our gold coins, in order to restore the equilibrium of value between the two monetary standards, was almost impossible, on account of the vast amount of gold in circulation. It would have been a great expense to the State, without considering other inconveniences. The greatest want was of small change. Ten and 5-franc gold pieces had supplied the place of silver 5-franc pieces. The bill of May 25, 1864, proposed to withdraw all the 2, 1, and ^ franc pieces of .900 fineness from circulation, and to issue the same coins of .835 fineness. These new pieces, considered merely as change money, were to be taken only in amounts of 20 francs and less, between private individuals, but good for any amount in the public banks. The right of making and circulating was reserved to the state. This seemed to he the proper remedy, as speculation would not disturb the alloyed sm^all coin. The legislature liked the plan, but modified it by issuing only 50 and 20 centime pieces of .835 fineness. The reasons for this are given in Mr. Gouin’s report. There were two dominant ideas: one was a deter¬ mination not to alter the franc of .900, the expression of our monetary unity; the other was to see if the alloy of .835 would be acceptable to the people. This was wise; it answered for the present, and reserved something for the future; and so the bid was made a law. A two years’ trial has shown that the new coins of .835 have been wel¬ comed by the public. Speculators have pounced upon the 2 and 1 franc pieces and bought them out of circulation, except those worn so much there is nothing to be made out of them. Xow is the time to resume the labor of 1864, and satisfy the public that complain of the scarcity of change, and such is the object of the bill now submitted to your consideration. It proposes to extend the law of May 23, 1864, to the 1 and 2 franc silver pieces. The proposition is sustained by a convention concluded with the three nations nearest to France that have adopted the French monetary system. The advan¬ tages of a single monetary system for all nations need no discussion. Besides the convenience to border countries and travellers, it facilitates commerce by giving a common and certain measure to currency. It is a consequence of free trade and that instinct that prompts people to unite their interests by commerce and industry. We hope soon to see uniformity of weights everywhere, and we believe France will set the first example to all other nations. We have therefore given, as a principle to be examined in detail, our complete approbation to the convention, and the bill which is the result of it. 252 PARIS UNIVERSAL EXPOSITION. A question of another nature arose in the committee: As the two monetary standards have long’ been a source of annoyance, why did we not adopt gold as the only standard, like England and many other nations, and thus settle it definitely at once? The committee was not in favor of it. We certainly cannot say what the future may have in store for us, but nobody can say but what the measure may be soon adopted; it is too soon yet. Though theory and logic may be for a single standard, facts show that the double standard otters great advan¬ tages in practice. The two help each other, and in times of crises one serves as a balance to the other. The use of both metals, moreover, facilitates our commercial relations with other countries, by allowing our merchants a choice of the coin best suited to the stranger. Does a dif¬ ference of the value between the two metals, of late years, give a suffi¬ cient cause for such a radical reform ? If silver is preferred to-day, the preference may change by the discovery of vast silver mines, or a great reflux of silver from the East by reason of the sale of our manufactures in those countries. The proposed law prudently confines itself to pres¬ ent necessities, without pretending to look for the future. The committee, in all its deliberations, has kept one idea in view: By the declaration preliminary to the law of 7 Germinal, year XI, the franc of five grams weight and .900 fineness is the point of departure, the foundation of our entire monetary system. As soon as it is reduced to .835 it disappears, and would not its reduction be in violation of the above law ? It might also cause some confusion in our foreign trade. The objection was fully considered, if the legal franc ceased to exist, would the fact be due to the new law? The 1-franc pieces are gradually disappearing, owing to the difference of value between gold and silver. The 1-franc pieces now in circulation are so much worn they hardly have the intrinsic value of the new .835 pieces. True, the government could coin more of .900, but speculation would soon remove them from circulation. The new law, then, does not cause the harm. It existed before, and the law alleviates it. It is not just to say the franc will have ceased to exist in its material expression when the new law comes into force. It will still preserve its expression in the 5-franc silver piece, its fifth multiple, which is retained in our monetary system, though becoming scarce, and circulates freely in the three countries that joined France in the convention of the 23d December, 1865. However, as legislation ought to be precise in these matters, we have endeavored to make the text of the new law as plain as possible by introducing two amendments. The first calls the 2 and 1 franc the 50 and 20 centime pieces change-money, which is their true character. The second declares it u no violation of the law of 7 Germinal, year XI, which makes the franc the basis of the French monetary system.” Thus, all doubts and false interpretations are removed. The new 1-franc piece, of less value and of restricted circulation, is created by necessity. The old franc is retained as money of account, and as the normal measure of gold and silver, in conformity to law. REPORT ON THE PRECIOUS METALS. 253 OBSERVATIONS BY MR. BECKWITH ON THE TREATY. Mr. Beckwith, the United States commissioner general to the Paris Exposition, in a letter to the Hon. William H. Seward, Secretary of State, under date of Paris, July 17,1866, makes the following observations upon the treaty: u It results from these proceedings that a uniform system of coinage is established in the four countries named—uniform as regards the unit, the metallic standards, and the value of the pieces to be coined. Each country retains the double standard of gold and silver with the relative value of 1 to 15tjr. “ The composition of gold coin remains in the proportion ( 7 9 ^) nine parts of fine gold to one of alloy, and the coinage of gold is restricted to pieces of the value of 100 francs, 50 francs, 20 francs, 10 francs, and 5 francs. “ The composition of the silver 5-franc pieces remains in the proportion of ( f y nine parts fine silver to one of alloy; but the composition of silver coin of smaller values is reduced from ^ to (-j 8 o 3 o 5 o) 835 parts fine silver to 165 parts of alloy, a reduction in value of about 7 per cent. “The coinage of this class is restricted to pieces of the value of 2 francs, 1 franc, 50 centimes, and 20 centimes, and limited in amount to six francs per head of population, which should give about 32,000,000 francs for Belgium, 239,000,000 francs for France, 141,000,000 francs for Italy, and 17,000,000 francs for Switzerland. u This inferior money is a legal tender between individuals to the amount of 50 francs in a single payment, and receivable for dues to the govern¬ ment without limit. It follows from these measures that the unit of the monetary system (1 franc of the standard of j 9 ^) will cease to be coined ; but it retains a nominal existence ; it remains money of account and is still the unit of the monetary system, and the measure of all values, though it has no material existence except in its multiples, of which the quintuple or 5-franc piece is the smallest coin. u The reduction in the value of small silver coin brings the standard of this class in harmony, I believe, with the small silver coin of the United States, tinder the law of 1850. If this be so, the metallic standards both of the gold and silver coin of the United States are now in harmony with those of the four countries named, and the standards being in har¬ mony and the systems all decimal, it only remains to harmonize the coin in order to produce reciprocal circulation. For this purpose a com¬ mon unit does not appear to me to be necessary. u However numerous the monetary systems and different their units, if they are all decimal and their standards of coin alike, it is only necessary that the pieces coined in each be in harmony with their own system to produce the uniformity required for circulation in common, provided that the unit of each monetary system be capable of expression in the multi¬ ples and sub-multiples of the other systems. These approximations are much easier of attainment than unity. Ho 254 PAKIS UNIVERSAL EXPOSITION. substitution of the units of one country for those of other countries need be made; very slight modifications of existing units and standards, with decimalization, would produce a common measure of values, and assim¬ ilate all the principal monetary systems in the manner required for the reciprocal circulation of coin. Modification is the easiest method of reforms. “Coining a unit of one system would then be of necessity coining at the same time a multiple or sub-multiple of the unit of all the other sys¬ tems, and the pieces struck in conformity with each system would bear the same relations to the coins of the other systems that the several pieces of any one system bear to each other. “ Neither is it of moment what names may be given to coins in different countries, nor how numerous their varieties or various their values, because they will all be aliquot decimal parts of harmonious systems, the coin of each being referable to its own unit, and referable with equal facility to the multiples or sub-multiples of the units of the other systems. “In like manner a small change in the standard of British gold coin from to T 9 ^ would complete the unity of standards of gold coin, since the whole civilized world nearly, except England, has adopted the standard of t 9 q fine. “ Our gold dollar, for example, is equal to 517 French centimes; a reduction of 17 centimes (3£ c.) would leave it an exact multiple of the French unit, or franc, and the equivalent of five francs. A reduction of 12 centimes (2£c.) in the value of the British unit or sovereign would leave it a multiple of the franc, and the equivalent of 25 francs, and consequently a multiple of the dollar, and the equivalent of five dollars. “ Modifications of this kind are not difficult: they are common. They produce little inconvenience to the public; they do not disturb business, nor trench upon prejudices; they come into use almost imperceptibly, and in this case would leave the unit of each national system—those great traditional measures of value so deeply rooted in every mind—in effect undisturbed, with their various mottoes, emblems, and effigies, and with all the impregnable habits of thought, and even the superstitions which cluster around them. “ The tenacity with which nations and peoples hold to their ancient measures of value is remarkable, and whether it springs from a principle or a prejudice, it is a fact so firmly fixed that it is difficult to eradicate; nor is it worth the labor, or even desirable, if a common language of values can be otherwise attained.” OPINION OF MR. S. B. RUGGLES. Before the meetings of the international committee for examining the question of a uniform coin had commenced, Mr. Ruggles, delegate from the United States, was enabled, through the introduction of Monsieur Michel Chevalier, senator of France, who took much interest in the sub¬ ject, to confer fully with M. de Parieu, vice-president of the conxeil d'etat , REPORT ON THE PRECIOUS METALS. 255 and one of the two representatives of France in negotiating the monetary convention of 23d December, 1865. He suggested, to M. de Parieu the expediency, and, indeed, urged the necessity, of modifying that portion of the treaty which prohibits either of the four nations who had made it from issuing gold coin of any denominations but those of 5, 10, 20, 50, and 100 francs. “ This necessity is obvious at once from the fact that the gold coin most in ordinary use in the United States is the half-eagle of $5, which, with a slight diminution, could be readily reduced to 25 francs in value. This coin, when exported to France, in order to be readily and generally current, must there find itself side by side with some well-known French coin of like weight, diameter, and value.” The propriety of this suggestion M. de Parieu not only admitted at once, but expressed his belief that the treaty might be modified by the four nations, in thirty days, to meet the necessities in this respect of the United States. Similar suggestions were made to M. Rouher, chief minister of state, and his attention was directed to the fact that the Congress of the United States, in recently authorizing the issue of one of our smaller coins, had given to it a precisely even metric weight and metric diameter, (being five grams in weight and two centimetres in diameter,) thereby scattering widely through the pockets of the American people the means of study¬ ing the metric system by specimens of the metre and its derivative the gram , constantly visible. Mr. Buggies afterward suggested to the Emperor that France could coin a piece of gold of 25 francs, to circulate side by side on terms of absolute equality with the half-eagle of the United States and the sovereign, or pound sterling, of Great Britain, when reduced, as they readily might be, precisely to the value of 25 francs. The Emperor then asked, “Will not a French coin of 25 francs impair the symmetry of the French decimal system*?” To which it was answered, “ No more than it is affected, if at all, by the existing gold coin of five francs;” that it was only the silver coins of France which were of even metric weight, while every one of its gold coins, without exception, represented unequal fractions of the metre. It was also stated to the Emperor that an eminent American states¬ man, Mr. Sherman, senator from Ohio, chairman of the Finance Com¬ mittee of the Senate of the United States, and recently in Paris, had written an important and interesting letter, expressing his opinion that the gold dollar of the United States ought to be and readily might be reduced by Congress, in weight and value, to correspond with the gold five-franc piece of France. The letter of Mr. Sherman, addressed to Mr. Buggies, dated the 18th May, 1867, is as follows: LETTER FROM SENATOR SHERMAN TO MR. RUGGLES. “My Dear Sir : Your note of yesterday, inquiring whether Congress would probably, in future coinage, make our gold dollar conform in value to the gold five-franc piece, has been received. 25 G PARIS UNIVERSAL EXPOSITION. “There has been so little discussion in Congress upon the subject, that I cannot base my opinion upon anything said or done there. kk The subject has, however, excited the attention of several important commercial bodies in the United States, and the time is now so favora¬ ble, that I feel quite sure that Congress will adopt any practical measure that will secure to the commercial world a uniform standard of value and exchange. “The only question will be, how this can be accomplished. “The treaty of December 23,1865, between France, Italy, Belgium, and Switzerland, and the probable acquiescence in that treaty by Prussia, has laid the foundation for such a standard. If Great Britain will reduce the value of her sovereign two pence, and the United States will reduce the value of her dollar something over three cents, we then have a coin¬ age in the franc, dollar, and sovereign, easily computed, and which will readily pass in all countries; the dollar as five francs, and the sovereign as 25 francs. “This Mill put an end to the loss and intricacies of exchange and discount. “ Our gold dollar is certainly as good a unit of value as the franc; and so the English think of their pound sterling. These coins are now exchangeable only at a considerable loss, and this exchange is a profit only to brokers and bankers. Surely each commercial nation should be willing to yield a little to secure a gold coin of equal value, weight, and diameter, from w hatever mint it may have been issued. “ As the gold five-franc piece is now in use by over 60,000,000 of people, of several different nationalities, and is of convenient form and size, it may well be adopted by other nations as the common standard of value; leaving to each nation to regulate the divisions of this unit in silver coin or tokens. “ If this is done, France will surely abandon' the impossible effort of making two standards of value. Gold coins mil answer all the purposes of European commerce. A common gold standard will regulate silver coinage, of which the United States will furnish the greater part, espe¬ cially for the Chinese trade. “ I have thought a good deal of liow the object you propose may be most readily accomplished. It is clear that the United States cannot become a party to the treaty referred to. They could not agree upon the silver standard; nor could we limit the amount of our coinage, as jiroposed by the treaty. The United States is so large in extent, is so sparsely popu¬ lated, and the price of labor is so much higher than in Europe, that we require more currency per capita. We now produce the larger part of the gold and silver of the world, and cannot limit our coinage, except by the wants of our people and the demands of commerce. “ Congress alone can change the value of our coin. I see no object in negotiating with other powers on the subject. As coin is not now in general circulation with us, we can readily fix by law T the size, weight REPORT ON THE PRECIOUS METALS. 257 and measure of future issues. It is not worth while to negotiate about that which we can do without negotiation, and we do not wish to limit ourselves by treaty restrictions. «In England, many persons of influence, and different chambers of com¬ merce are earnestly in favor of the proposed change in their coinage. The change is so slight with them that an enlightened self-interest will soon induce them to make it; especially if we make the greater change in our coinage. We will have some difficulty in adjusting existing con¬ tracts with the new dollar; but as contracts are now based upon the fluctuating value of paper money, even the reduced dollar in coin will be of more purchasable value than our currency. “We can easily adjust the reduction with the public creditors in the payment or conversion of their securities, while private creditors might be authorized to recover upon the old standard. All these are matters of detail to which I hope the commission will direct their attention. u And now, my dear sir, allow me to say in conclusion that I heartily sympathize with you and others in your efforts to secure the adoption of the metrical system of weights‘and measures. u The tendency of the age is to break down all needless restrictions upon social and commercial intercourse. Nations are now as much akin to each other as provinces were of old. Prejudices disappear by contact. People of different nations learn to respect each other as they find that their differences are the effect of social and local custom not founded upon good reasons. I trust that the Industrial Commission will enable the world to compute the value of all productions by the same standard, to measure by the same yard or metre, and weigh by the same scales.. u Such a result would be of greater value than the usual employments of diplomatists and statesmen.” This letter was received by the committee with lively interest, and with the approbation of the Imperial Commission was ordered to be published in French and English. MR. KENNEDY’S PROPOSITIONS ADOPTED BY THE COMMITTEE. Previously to the 23d of March the international committee had taken no steps to discuss the subject of uniform weights, measures, and coins, their attention up to that time having been mainly given to the erection and arrangement of the pavilion in the interior garden of the Exposition for the actual exhibition and comparison of the weights, measures, and coins of the respective nations represented in this universal concourse. The subject of a uniform coin did not actually come into discussion, either in the international committee or the sub-commission on coins, until early in the month of May. On the 8th of June Hon. John P. Kennedy, who had been added to the committee, submitted seven resolutions, which, with the remarks introducing them, were subsequently adopted by the committee in sub- 17 Gr 258 PARIS UNIVERSAL EXPOSITION. stance, and almost literally, and were made the basis of its report. These resolutions, as adopted by the committee, translated, are as follows: 1 “The committee, considering that the adoption of a uniform system ot coins presents advantages of convenience and economy in,the regulation of international exchanges so evident, that it commends itself to every enlightened government; considering, furthermore, that such a measure cannot be realized without the sacrifice by many peoples of their old and customary instruments of trade, and that their interest requires this change should be gradual and continuous, and therefore that the first steps of the transformation should be as simple as possible and disem¬ barrassed of all incidental complication, therefore submits the following propositions: u 1st. The first condition to be fulfilled is the adoption of an identical unity in the issue of their gold coins by the different- governments inter¬ ested in the question. u 2d. It is desirable that such coins should everywhere be struck at the standard of nine-tenths. u 3d. It is desirable that every government should introduce among its gold coins at least one piece of the same value as a piece in use among other interested governments, so that there may be a point of common contact in all the systems, and therefore each nation should endeavor gradually to assimilate its monetary system with that which may be chosen as a uniform basis. “ 4tli. The series of gold coins now used in France having been adopted by a large portion of the people in Europe, is recommended as a basis of the uniform system desired. u 5th. Considering that the most important of the monetary units, by a fortunate and accidental circumstance, can be adapted to the French gold piece of five francs, by slight changes, that piece would be most suitable as a basis for a monetary system; and coins struck upon that basis would become the multiples of that unity as soon as the conve¬ nience of interested nations would permit. “ 6th. It is desirable that the different governments determine that the coins struck by each nation, in conformity with the uniform system pro¬ posed and agreed upon, should pass as legal tenders in all those countries. u 7tli. It is very desirable that the system of two different monetary standards should be abolished wherever it still exists. u 8tli. It is very desirable that the system of decimal numeration should be universally adopted, aiid that the coins of all nations should be of the same standard and form. u 9th. It is desirable that governments should agree to adopt common measures of control, so as to secure the integrity of coins in their issue and in their circulation.” The “international committee on uniform weights and measures and l l'ide Rapports et Proc£s-verbaux Comite des Poids et Mesures et des Mommies, p. 18, and for tbe resolutions submitted by Mr. Kennedy, p. 49. EEPOET ON THE PRECIOUS METALS. 259 coins,” charged with the preliminary study of the question, took into consideration not only what is theoretically and abstractly possible, but what is commercially and financially practicable. The subsequent duty of fixing a common coin as the monetary unit required an international conference, composed of representatives duly accredited from the vari¬ ous nations, and vested with diplomatic powers. INTERNATIONAL MONETARY CONFERENCE. The delegates to the monetary convention had expressed in the name of their governments a desire to see the union, as yet restricted to four countries, become the germ of a union more extended, and of the estab¬ lishment of a general monetary circulation among all civilized states. A copy of the text of the treaty, or u monetary convention,” was for¬ warded by the French government to the government of the United States, with an invitation to participate in an international monetary conference to be held in Paris in June, 1867, during the progress of the Universal Exhibition. The object of this conference was declared to be to call out an interchange of views and discussion of principles; to seek for the basis of ulterior negotiations. In accordance with this invitation the Hon. Samuel B. Buggies, who was then in Paris as United States commissioner to the Universal Expo¬ sition, was specially authorized to represent the government of the United States in the conference. The proceedings of this conference, and of the u preliminary international committee” on uniformity of coin¬ age, organized by the imperial commission of the Universal Exposition, were fully reported from time to time by Mr. Buggies to the State Depart¬ ment, and were followed by a very elaborate and interesting report upon the whole subject. This report, in addition to a full discussion of mon¬ etary unification, contains valuable statistics and information upon the amount of gold and silver in circulation; upon the coinage of the prin¬ cipal nations, and upon the weights and fineness of gold and sil ver coins and the relative value of gold and silver. Extended extracts from the reports have, therefore, been made. On the 17th of June, 1867, the invited nations, 19 in number, responded by sending 32 duly accredited delegates, and the International Monetary Conference met for the first time at the hotel of the Department of Foreign Affairs, under the presidency of his excellency Marquis de Moustier, the minister for foreign affairs. There were eight successive sessions, terminating on the 6th of July, 1867, at which the whole sub¬ ject was discussed at length, and full reports and arguments were pre¬ sented. 1 ‘The proceedings of the conference were fully reported in an official volume, entitled Conference Mouitaire Internationale; Proces-verbaux. Paris: Imprimerie Imp eriale, 18(,7. A translation accompanied by translations of other documents and letters relating to ihis subject was transmitted to Congress, and was published, {vide Ex. Doc. No. 14, 40th Con¬ fess, 2d session.) PARIS UNIVERSAL EXPOSITION. 2 GO In opening the labors of the conference, the president said: “The approximations which the late commercial reforms have wrought between the economic interests of nations ought to result in causing to be appreciated more earnestly than in past time the advantages which would be derived from the unification of coinages. To substitute instead of the variety of monetary types actually in use, metallic coins struck in accordance with uniform regulations, and placed beyond any varia¬ tions of exchange, would, in effect, be to remove one of the most seri¬ ous obstacles to the development of international relations. Thus, when in 1805 the delegates of France, Belgium, Italy, and Switzerland had succeeded in forming between those countries a real monetary union, the thought of a more extended association naturally presented itself to their intelligence; thence came the right of accession opened to other countries by a special clause in the convention of December 25, 1805; thence the wish put forth by the commissioners, that studies should be undertaken, in concert, among all civilized states on the question of uniformity of coinage. “Ho period could be more favorable to the realization of this wish than that of the Universal Exposition; the government of the Emperor hastened to avail of it, and the acceptance which various governments have pleased to extend to these overtures has shown that the import¬ ance of the problem to be solved was universally recognized. “The dispositions thus manifested from the outset are so much the more precious, as it was impossible to dissemble the difficulties of the task which the members of the conference have to accomplish. Those difficulties are of diverse nature, and to remove them it is important, beyond all, that each state, in view of the great interest it seeks to sat¬ isfy, should seek, without exclusive opinions, the best solution. “The French government is, moreover, pleased, gentlemen, to recog¬ nize in the choice of yourselves, on the part of your government, a fresh pledge of the solicitude which, abroad as well as in France, is entertained upon the question submitted to the conference. A study of such del¬ icacy and so complex could not be confided to an assemblage which could present a more complete combination of knowledge required either in the conduct of great affairs, in the management of important, finan¬ cial institutions, or in technical operations.” ****** Reports and written arguments were presented during the sessions by M. de Parieu, Baron de Hock, and Mr. Samuel B. Ruggles. Extracts from these reports are embodied in these pages. PLAN OF MONETARY UNIFICATION AGREED TO BY THE CONFERENCE. The following are the general features of the plan of monetary uniti cation agreed to by the conference: 1. A single standard, exclusively of gold. 2. Coins of equal weight and diameter. 3. Of equal quality, (or tit re,) nine-tenths fine. REPORT ON THE PRECIOUS METALS. 261 4. The weight of the present five-franc gold piece, 1612.90 milligrams, to be the unit, with its multiples. (The weight of the present gold dol¬ lar of the United States is 1671.50 milligrams. The value of the excess over the five-franc gold piece, 5S.60 milligrams, slightly exceeds cents. To encourage the reduction of the United States half-eagle and of the British sovereign to the value and weight of 25 francs, the conference recommended the issue of a new coin of that weight and value by France and the other gold-coining nations. The reduction in value of the half-eagle would slightly exceed 17£ cents; in the sovereign, 4 cents.) 5. The coins of each nation to continue to bear the names and em¬ blems preferred by each, but to be legal tenders, public and private, in all. The conference further requested the government of France to invite the different nations to answer, by the 15th of February, 1868, whether they would unite in placing their respective monetary systems on the basis indicated by the conference, as above stated; and after receiving their answers, to convene, if necessary, a new or further conference. A further resolution of the conference recommends that the measures of unification which the nations may mutually adopt be completed, as far as practicable, by diplomatic conventions. By these proceedings and official reports, the whole question of mon¬ etary unification was distinctly presented for consideration and decision to the governmental authorities of the United States, executive and legislative. By a communication from the Department of State of the 30th May, empowering Mr. Buggies to represent the United States in the confer¬ ence, he was directed not only to report its proceedings and conclusions, but to add such u observations as might seem to be useful.’ 7 He there¬ fore submitted an additional report, mainly explanatory of the grounds taken in the conference in behalf of the United States, but embodying statements which may possibly facilitate to some extent the examination of the subject by the government and others. \ EXTRACTS FROM THE REPORTS OF MR. RUG-GEES. u All the independent sovereignties of Europe, with the possible excep¬ tion of some small portions of northern Germany, were represented in the conference by delegates duly accredited. The delegates from Prus¬ sia appear on the roll as representing that power only, but from the fact of their repeatedly abstaining from voting on certain questions in the conference 1 without the consent of the Confederated States,’ they were practically considered as representing all the states and communities of northern Germany now confederated with Prussia. There were no sepa¬ rate delegates from the kingdom of Saxony, or either of the Hanseatic cities of Hamburg, Bremen, Lubec, or Frankfort. There were separate delegates from Baden, Wurtemberg, and Bavaria. None of the nations west of the Atlantic were represented, except the United States of America. PARIS UNIVERSAL EXPOSITION. 2G2 “The nations appearing by delegates in the conference were entered alphabetically on the roll, in which order they voted. A copy of the roll is hereto subjoined. Including Sweden and Norway as one, they were nineteen in number, being: Austria, Baden, Bavaria, Belgium, Denmark, Espagne, (Spain,) Etats Unis, (United States of America,) France, Great Britain, Greece, Italy, Pays Bas, (Holland,) Portugal, Prussia, Russia, Sweden and Norway, Switzerland, Turkey, Wurtemberg. “ Their aggregate population, European and American, a little exceeds 320,000,000. The population of the dependencies of these nations in Asia is estimated at 100,000,000. There were no separate delegates from any portion of the West or the East Indies, not even from Australia, which had been separately and conspicuously represented in the International Statistical Congress, at Loudon, in 1860, and which still plays a part so important in furnishing gold to British India and other oriental coun¬ tries. “ It is, indeed, specially noticeable in the reported discussions of the conference how little account was made of that populous quarter of the globe in estimating the world-wide advantages of a common money; and this omission has become more worthy of remark from the circumstance that information reached Paris, soon after the adjournment of the con¬ ference, that measures were in actual progress, at Pekin, for striking, for the use of the immense population of China, coins of the weight and value respectively of 20 francs, of 5 francs, and of 1 franc, bearing on their face the head of the Chinese Emperor, thereby assimilating the money of the Celestial Empire to that of Europe. “ The interesting fact is stated in a historical report (recently published by a member of the British embassy) of the money of Japan, that it pos¬ sesses a coinage of gold and silver in some essential features resembling that of France, particularly in a double standard, under which the ratio of silver to gold is fixed at 13£ to 1. “ It appears that, in ignorance of the actual relative values of the two metals in our Atlantic world, (of 15 or 16 to 1,) these Asiatics had fixed the ratio at only 4 to 1, which great exaggeration of silver they were furthermore induced to continue by a treaty in 1858, under which they were rapidly despoiled of their gold in large quantities by some of the traders from Christian nations. The partial correction of the mistake in I860, by raising the ratio to 13£ to 1, (if any ratio fixed by governmental regulation be admissible at all,) shows an advance of intelligence in this distant region, inspiring the hope that, in due time, at least a portion of eastern Asia may be brought within a world-embracing and world-pro¬ tecting belt of monetary unification. “The British colonies in continental North America, recently consoli¬ dated by imperial authority in the 1 Dominion’ of Canada, were repre¬ sented in the conference only as a part of the British empire by the delegates from the United Kingdom. That young but rising power, though remaining in form a colonial dependency, now possesses, under the REPORT ON THE PRECIOUS METALS. 263 91st section of the act of the imperial Parliament of the 29th of March, 1867, the sovereign and ‘ exclusive legislative authority ’ to regulate its own ‘ currency and coinage,’ already much assimilated to the decimal system of the United States. The deep interest in the success of the pending measure of unification manifested by Mr. Bouchette and other intelligent Canadian officials, who were at Paris to superintend the exhi¬ bition of the products of their country, affords ground for believing that the general conclusions, and the basis now proposed by the conference, will command the ready assent and co-operation of that active and inter¬ esting portion of the North American continent. u Of the Mohammedan nations, the Ottoman empire was represented in the conference by his Excellency Djemil Pacha, its ambassador extra¬ ordinary and plenipotentiary to the court of France. With him was associated the Colonel Essad Bey, the military director of the Ottoman academy in Paris, who had, moreover, officially represented his govern¬ ment in the preliminary ‘ international committee on uniform weights and measures and coins,’ in which body he had manifested a marked desire that the proposed monetary reform might include the coinage of Turkey. At a later stage of the conference his Excellency Mihran-Bey- Duz, member of the Grand Council of Justice and director of the mint at Constantinople, whose early arrival had been unexpectedly retarded, appeared and took his seat as a member. “The ambassador to France from Persia, (sometimes called the ‘ France of Asia,’) a personage of singular intelligence, had also mani¬ fested a lively interest in the proposed monetary reform, but had been obliged to leave Paris on the eve of the first meeting of the conference. It is worthy of notice that the standard of the gold coin of Persia is .900 fine, being the same as that of the United States, while that of Turkey is still higher, being .915 fine. The indncipal gold piece of Persia is worth 22.27 francs; that of Turkey 22.48 francs. “ The clear and comprehensive vision of the far-seeing advocates in Europe of monetary unification has fully discerned the grandeur of unit¬ ing the two hemispheres in one common civilization. M. Esquiron de Parieu, vice-president of the conseil d’etat of France, who presided with eminent wisdom and dignity over the conference at several of its most important meetings, declares, in one of his learned and luminous mone¬ tary essays, now lighting the path of the Older World, that‘ a monetary union of western Europe and the transatlantic nations would possess an incontestable importance. Above all,’ he adds, ‘ it would produce a grand moral effect.’ As if foreseeing with the eye of prophecy a conti¬ nental, if not a world wide ‘solidarity’ for the ‘dollar,’ founded histori¬ cally on the past, he adds, ‘ the Americans can never regard their dollar as a merely national coin, after having borrowed it from their neighbor¬ ing Spanish colonists.’ “As a matter of historic truth, Spain itself had borrowed the ‘dollar’ from Austria, during their union under the common empire of Charles PARIS UNIVERSAL EXPOSITION. 264 the Fifth. The ‘Joachim’s thaler f first coined in the silver mines of the Bohemian valley of St. Joachim, (or James,) is the great ancestor, in fact, of the American dollar. In purity of origin and length of lineage it must surely suffice to satisfy the most aristocratic tastes of modern Europe. “ Nor is there any such diversity in the coinages of the Central and South American nations, or differences from those of Europe or the United States, as to render the task of unification seriously difficult on their part. The gold doubloon or doubloti (sometimes denominated in the monetary tables the quadruple pistole) of New Granada, of Bolivia, and of Chili, are each .870 parts fine; that of Mexico, .870.5; that of Peru, .808. The French ‘ Annuaire ’ reports that of Ecuador at .875. Their money values, in the existing dollars of the United States, are reported by the director of the mint of the United States as being, for New Granada, $15.61; for Chili and Bolivia, $15.59; for Peru, $15.58; for Mexico, $15.52. “ The full and perfect measure of Hispano-American unification would be attained by increasing the weight of all these doubloons to 100 francs, which would render them at once equivalent to the double-eagle (or $20) of the United States, or to four British sovereigns, (when reduced as now proposed,) and current, without recoinage, brokerage, or other impedi¬ ment, throughout the world. This enlarged doubloon divided into halves and quarters would supply for the people of Spanish America one con¬ venient coin, equivalent to 50 francs, or an eagle of the United States, or two British sovereigns; and another coin, equivalent to 25 francs, or a United States half-eagle, or one British sovereign. Mexico has already a gold coin of 20 pesos , finely executed; and Peru has a gold piece of 20 soles; each of them being nearly equivalent to the double-eagle. “The 20 mil-reis of Brazil, now worth $10.85, would probably be con¬ formed to the plan proposed for Portugal, the parent country, by the Count d’Avila, her experienced and able delegate in the conference, by the issue of a gold coin equivalent to 25 francs, with such subdivisions and multiples as convenience might require.” ARGUItfENT FAVORING A TWENTY-FIVE-FRANC COIN. At the sixth sitting of the conference, on the 28th of June, Mr. Buggies presented a written argument in favor of the issue of a 25-franc gold piece by France. He says: “If it be objected that such a piece, not containing an even number of grams, would impair the symmetry of the metric system, it need only be stated that France has not, and never has had, a gold coin containing an even number of grams. The relation in value between silver and gold having been fixed bylaw at 15 J to 1, it became impossible to estab¬ lish a decimal relation between the two metals; or, in other words, between the number of francs which represent only silver, and tin; num¬ ber of grams in the coins of gold. This legal relation of 15i to 1 is REPORT ON THE PRECIOUS METALS. 265 itself fractional, and must be doubled and carried to 3 J to make even numbers. “The franc is simply a monetary word, which expresses five grams of silver nine-tenths fine. It is the French monetary unity. Gold having a value of 15£ times greater than silver, it requires 15£ francs each of 5 grams of silver (say 5xl5£=77£ grams) to buy 5 grams of gold, or 155 grams of silver to buy 10 grams of gold. As 31 is the smallest even number of this relation, 31 is the smallest number of francs which can be repre¬ sented by a piece of gold having an even weight of grams. Ho enlight¬ ened government would consent to confine its gold coinage to pieces o£ 31 francs and its multiples. We therefore perceive that France has made complete abstraction of metrical weight in its gold coins, not one of which weighs an even number of grams. “ The gold piece of 5 francs weighs. 1.6125 grams. “ “ 10 “ 3.3250 “ “ “ 20 “ 6.4500 “ “ “ 50 “ 16.1250 “ “ “100 “ .. 32.2500 “ “The proposed 25-franc piece would weigh 8 grams .0625, and, in fact, would more nearly approach an even metrical weight than any French gold piece now existing. “This relation of 15£ to lis practically prescribed by the French law, which enacts that 155 (5x31) pieces of 20 francs, being 3,100 francs, shall weigh 1,000 grams, or one kilogram; but the same ratio would exist between 124 (4 x 31) gold pieces of 25 francs, which would also contain 3,100 francs, and would also weigh one kilogram. “The United States have never attempted to fix a decimal weight for their gold coins, although they were among the first to adopt a decimal monetary system. The present gold dollar weighs 25.8 grains troy, which is about equal to 1671 milligrams, and exceeds the metrical weight of the French 5-franc piece about 58£ milligrams “A gram of gold nine-tenths fine is equivalent in round numbers to 30 pence English, or 60 cents of the United States. Consequently, 58£ milligrams taken from the dollar would reduce it about 3£ cents, or 292£ milligrams taken from the half eagle of five dollars would reduce it 174 cents, being about 3£ per cent. “It is needless to expatiate on the comparative merits of a decimal, a duodecimal, or a binary system, for the reason that the decimal system has become a fixed fact in a large portion of the civilized world, render¬ ing any change practically impossible. In like manner the unification of the coinage of the world has become a question of a nature more practi¬ cal than scientific in character, chiefly falling within the domain of com¬ merce and finance. “To prevent any misapprehension on either side of the Atlantic, it should be distinctly understood that the conference did not propose, nor was any proposition or suggestion made in that body, or elsewhere, to PARIS UNIVERSAL EXPOSITION. 266 abandon the use in any way of the word ‘dollar,’ or ‘sovereign,’ or ‘tlui- lrr,' or ‘florin,' or ‘ruble,’ for any other local denomination of money, or in any way to substitute the word ‘franc’ for any or either of them. By the proposed unification, all those terms will be practically rendered synonymous or mutually convertible, but every nation will continue to use the names with the local emblems it may prefer. “That such will be the case is now fully evident from the fact that since the adjournment of the conference in July last a preliminary treaty has been signed by accredited representatives from France and Austria, providing for the issue of a gold coin of the weight and value of 25 francs, for the international use and convenience of those two important powers, and by which the 10 florins of Austria are made precisely equal in weight and value to the 25 francs of France, the coin of each nation to be stamped with the head of its respective emperor. “A specimen or medal in gold, showing the weight and diameter of the proposed coin, with its reverse inscribed ‘Or. Essai MonetaireJ encir¬ cling ‘25 francs, 10 florins, 1867,’ has been already struck by order of the government of France, a duplicate of which was recently delivered at Paris to the Emperor of Austria.” A similar specimen or medal in gold lias also been struck, inscribed on its reverse “5 dollars, 25 francs, 1867,” three duplicates of which, with the proper official letters from M. Dumas, “senator of France and Presi¬ dent of the Commission on coins and medals,” were intrusted to Mr. Haggles for delivery to the President, to the Secretary of State, and to the Secretary of the Treasury of the United States. A fourth specimen was presented to the distinguished delegate. The diameter of this proposed international coin is 24 millimetres, exceeding a little that of the present half-eagle of the United States, and that of the sovereign of Great Britain, while the medallion of the Emperor, in bold relief, on the face of the coin to be issued in France, distinguishes it at once from the ordinary “Napoleon” of 20 francs, which is only 21 millimetres in diameter. PROFESSOR LEVI’S SPEECH ON TIIE PROPOSITION OF TAKING THE FIVE- FRANC AS A BASIS OF INTERNATIONAL COINAGE. 1 With great deference to the proposal of the committee, and much as I agree in the principle therein embodied, I must be allowed to express that it seems to me quite inexpedient and impracticable to take the piece of five francs in gold as the unit of the monetary system for all countries, because it is too small as a gold coin, very easily lost, too costly to pro- 1 This speech, and the following report by the delegates from Great Britain, of the doings of the international monetary conference, are extracted from the official “Report of the Inter¬ national Conference on Weights, Measures and Coins, held in Paris, June, ISG7,” and “Report on the International Monetary Conference, &c., presented to the House of Com¬ mons by command of Her Majesty,” in pursuance of their address, dated March 9, 1868. London : printed by Harrison & Sons. Page ?">. REPORT ON THE PRECIOUS METALS. 267 duce, much more subject to wear and tear and diminution in value, and too small for large transactions of commerce and finance. In England the introduction of this piece as a unit would be impossible. But it may¬ be taken as a sub-multiple. It has been suggested that the five-franc piece in gold is very nearly the fifth of the pound sterling, and that it might be made identical. But the value of the pound is 25.20 and not 25 francs. To reduce the value of the pound to 25 francs, we should have to reduce its weight of gold from 7.322 grams to 7.258 grams; whilst, according to the proposition which we have just passed, to make the gold coinage nine-tenths fine, the pound would become heavier in weight by .0166. We have now some 80,000,000 to 100,000,000 sovereigns in circulation. From 1856 to 1866 only, there were issued 49,200,000 sovereigns. If a new pound were coined of 25 francs exactly, the same would have to circulate together with the old jjound of 25.20, but the difference between the two would be so slight that we should constantly mistake the one for the other. It was said that government might declare the value of the pound now in circulation at 25 francs, because in effect it is somewhat lighter in weight, and if necessary a seigniorage might be charged. But allow¬ ing all this, such difference would not reach 20 centimes on each pound; and if the government should declare the pound 25 francs, which is worth more, the bullion merchants would soon buy it for exportation. And how would old debts and old transactions be affected by such a change ? Two pence per pound would have to be given in each case where con¬ tracts are pending on the old coinage; and the labor of altering all the books and accounts for that difference would be still more inconvenient, as it is small and in a manner indefinite. If, therefore, I cannot see my way to approve of the suggestion of reducing the pound to 25 francs, it would be useless for England, and from an interuational point of view, that France should coin a piece of that sum, which otherwise would not be required in France. Hor does it seem that the maintenance of the pound is likely to lead to the deci¬ malization of the British coinage. The only scheme proposed for that based on the pound sterling is, that which contemplates the division of the pound into 1,000 mills instead of 960 farthings, but serious obstacles attend the carrying out of the scheme. The first is the necessity of altering seriously all the copper coinage, including the penny, which is an old unit in the kingdom, and some of the silver coins also. Change the penny, and what shall be its equivalent for penny postage, penny toll, and all the taxes and all the wages regulated by that coin? Four mills would be too little; five mills too much. Any change in the name of the copper coinage is necessarily attended with great difficulty. A still greater defect of the pound and mill scheme is that many of the coins which this new system would introduce have no distinct equivalent in the coins already in existence. They would stand alone and unchange¬ able, except with a sacrifice of fractions in every transaction. Another PARIS IMVERSAL EXPOSITION. 268 defect is the undeniable fact that with three decimals, counting always by thousands, no great facility of calculation, no great economy of time, no great conciseness of expression, would in fact be attained. The num¬ ber of figures required in the present system to express all the sums from one penny to 10 shillings is 250; in the pound and mill scheme it is 335. It would be easier, moreover, especially as it is more familiar to us in England, to conceive the idea embraced in 17 shillings 11 pence than in 805 mills. Possibly the liability to errors also is even less in the present system than in the other. The only recommendation of that scheme is the maintenance of the pound. But though bankers and merchants confine their attention to that unit, dealing as they do with large transactions, the government could not overlook the penny, and could not ignore the interests of the millions whose daily transactions might be seriously deranged by such a change. A better mode of arriving at a decimal and international system of coinage, it seems to me, is that England should take the 10-franc piece as a unit, and divide it into 100 pence of the current coiu; especially since, in reality, the penny is intrinsically, if not nominally, equal in value to the 10-centime piece. 1 What would be the difficulty of her issuing such a coin, which, as suggested, might be called a ducat, and a tenpenny piece as the tenth part of it? Being altogether a new coin it will be easy to issue it of the new alloy, and nearly all the existing coins would continue untouched. It would cer¬ tainly be better that the shilling and the half sovereign should be with¬ drawn, because they would be too like the 10 pence and the 100 pence; but otherwise no change would be caused in any of the coins in use. Should the 10-franc piece be found too small as a unit, we may easily have a larger unit in a piece of 100 francs, or of the value of nearly four pounds sterling. For France the unit of 10 francs in gold would be very convenient, as it would perfect her decimal system, and would improve her money of accounts by taking a unit ten times larger than the franc. The United States would have to double their dollar, but the value of everything is now greater than it was some time ago. We find in England that the halfpenny and the farthing are but little used, since we have to pay a penny now for what we paid a halfpenny before, and the experience of the United States will be the same. What we should aim at is, the adoption of one and the same unit by all nations; a unit with subsidiary coins alike everywhere. We must remember that all questions of prices, wages, fares, &c., are generally by such subsidiary coins as the franc, the pence, &c. Unless we attain uniformity in these we effect no real reform. Xow, by adopting the 10 francs we have all 1 If issued in the first instance as a subsidiary coin or token, the geld ducat might be declared by law to be of the value of 100 pence, notwithstanding the slight difference in relation to their nominal value. Should, however, the coin and the decimal system founded upou it find favor with the public so as to justify the government in declaring it a primary unit, then its relation to the sovereign would be regulated by tariff according to its intrinsic value. REPORT ON THE PRECIOUS METALS. 269 this absolutely, and therefore I commend it to the earnest attention of the conference. I haye much pleasure in announcing that the Cham¬ bers of Commerce, the International Decimal Association, and the Metric Committee of the British Association, have all decided that great advantage would result by the adhesion of Great Britain to the princi¬ ples of the monetary convention concluded December 23, 1865, between France, Italy, Switzerland, and Belgium, by article 12, of which conven¬ tion the right of accession is, under certain conditions, reserved for other states. I apprehend that the British government could not au¬ thorize her representatives at the Monetary Conference held at the Min¬ istry of Foreign Affairs to make any engagement on this question, because it has not yet been discussed by the nation; but I do not doubt that the resolutions of this and the other conference will have a great influence on public opinion in England, and that, animated by the most sincere friendship for France and for the great sovereign who so wisely presides over her destinies, and most desirous to be united by material, moral, and intellectual bonds with all nations, England will applaud and accept with pleasure the propositions which we may adopt with a view to introducing uniformity in the coinage of all countries. REPORT BY THE DELEGATES FROM GREAT BRITAIN. 1 May it please your lordships, we have the honor to lay before you the minutes of the proceedings of the recent International Monetary Con¬ ference which we were instructed to attend on behalf of her Majesty’s government. The invitation to the conference emanated, as your lordships are aware, from the French government, and its object was stated to be the discussion of the means by which a complete or partial uniformity might be established between the various monetary systems at present in existence in the countries of Europe and in the United States of America. The convention of December 23, 1865, concluded between the govern¬ ments of France, Belgium, Italy and Switzerland, which established an identity in the weight and fineness of the coins of those countries, as well as in the conditions under which they might be manufactured and pass current, was especially indicated as a basis for the deliberations of the conference; the right of joining the convention having by the 13th clause been reserved to all other countries which might be prepared to adopt its provisions. The necessity for an understanding between the governments of those four states Originated in the alteration of the relative value of the precious metals occasioned in recent years by the influx of gold from the newly discovered fields of California and Australia, and the disturbing ‘Report, addressed to the Lords Commissioners of the Treasury, by the Master of the Mint and Mr. C. R. Wilson, on the International Monetary Conference, December 2 , 1867, signed by Sir Thomas Graham and C. Rivers Wilson. PARIS UNIVERSAL EXPOSITION. 270 effect thereby created upon the currencies of those countries which had adopted a double standard. The law under which the system of the double standard operates in France assumes the hypothesis of an arbitrary relation of value between silver and gold in the proportion of 15£ to 1; and, although no doubt this proportion was exact at the period when the law was passed (1803,) it has been considerably modified by the cause above mentioned, which, during the last fifteen years, has thrown upon the market of the world gold to the extent of £340,000,000 in excess of the provision requisite for sustaining the proportion contemplated by the French law. In France, and in Belgium, Italy, and Switzerland, where the French system has been adopted, and where, consequently, each of the precious metals is a legal tender, it naturally followed that gold gradually dis¬ placed silver as an instrument of exchange, and that the latter almost entirely disappeared from circulation. The inconvenience occasioned by this state of things was principally felt in the scarcity which it created in the smaller denominations of cur¬ rency, for which gold is inapplicable, and which are indispensable in the ordinary transactions of life, and some attempts at a remedy were made in Switzerland and Italy, and subsequently in France, by increasing the proportion of alloy in some of the smaller silver pieces, thereby reducing them to the position of subsidiary or token coins. The legis¬ lation in the three countries was, however, not unanimous, and differed in some essential particulars, while in Belgium no alteration of any kind was attempted. Under these circumstances overtures were addressed by the govern¬ ment of the country last mentioned to the French government, suggest¬ ing a joint examination by France, Belgium, Italy, and Switzerland, of the difficulties which had arisen, and of the remedies to be applied. The proposal was accepted, and has resulted in the convention of December 23, 1805. The convention maintains the double standard, fixing the proportion of pure metal in the case of the gold coins of 20, 10, and 5 francs, and of the silver coin of 5 francs at nine-tenths with one-tenth of alloy, as heretofore, but reducing the proportion of fineness in the silver coins below 5 francs from .000 to .835, these subsidiary coins being only made a legal tender to an amount not exceeding 50 francs, (the same limit as that fixed in the case of the English silver token coinage.) Uniformity of coinage is established by the convention among the countries that are parties to it, but the obligation of accepting recipro¬ cally the coins struck by the different governments is confined to the public treasuries. Although the causes which led to this convention were of a special nature, nor are we aware that the promoters of it contemplated any ulte¬ rior extension of its principles, the union of so considerable a section of the population of Europe seems at once to have given rise to the expec- REPORT ON THE PRECIOUS METALS. 271 tation that it might be made the means of ultimately realizing the idea, which has been a subject of speculation at various, times, of a universal monetary confederation. That project has now been officially adopted by the French govern¬ ment, and it was for the consideration of it in common that the recent conference was convoked. Before coming to a decision upon the advisability of accepting the invitation, your lordships had carefully to consider the grounds upon which the participation of her Majesty’s government in the proposed inquiry could be justified, and the position which should be assumed by their representatives in the event of their deciding that the proposal should be accepted. IJpon the one hand, the inconvenience experienced by some of the coun¬ tries of the continent owing to the abstraction of silver from circulation, to which we have alluded, has not been felt in England, whose currency is based upon a gold standard, and where, ever since 1816, silver has occupied a subordinate position, the coins of that metal being of the nature of tokens, and only legal tender to the extent of 40 shillings. Moreover, the currency adopted by the convention of December, 1865, and avowedly recommended as the model for imitation, being based upon the decimal system, offered so wide a divergence from that in operation in this country, which, whatever differences of opinion may exist as to its theoretical perfection, adapts itself well to the requirements of the nation, that a transition from one system to the other, with its many attendant difficulties and disadvantages, or even any sensible modifica¬ tion of our system in the direction of that contained in the pro 1 visions of the convention of December, 1865, could only be contemplated on the strongest grounds of expediency. Upon the other hand, the advantages to be derived from international uniformity of currency, admitting such a consummation to be feasible, were too obvious to be overlooked, and of too vast an interest not to war¬ rant many sacrifices for their attainment j and it was well known that the subject had already attracted a considerable share of public interest in this country, while the interest evinced in the project by the' French government, and the anxiety expressed by them for the co-operation of this country, would naturally carry due weight in influencing the deter¬ mination of her Majesty’s government. Upon a review of these considerations your lordships decided that it would be proper that her Majesty’s government should be represented at the conference, but that their delegates should be instructed to abstain from any act or opinion that might appear to pledge her Majesty’s gov¬ ernment to the adoption of any particular course of action, and that their mission should be confined to a general consideration of the questions that might be brought forward. The conference was attended by representatives from twenty different PARIS UNIVERSAL EXPOSITION. states, 1 and with the exception of the Austrian commissioner. Baron Von Ilock, who immediately after tin* termination of the conference nego¬ tiated on the part of his government, and signed a preliminary treaty of adhesion to the convention of December, 1805, none of our colleagues appeared to have received more ample authority than that which we possessed. Under these circumstances we felt little hesitation, notwithstanding the reserve imposed upon us by your lordships, in recording our votes upon most of the resolutions submitted to the consideration of the assembly. We proceed at once to state the several propositions which, with more or less agreement, but in all cases after minute discussion, were affirmed by the conference, and which your lordships will doubtless consider wor¬ thy of attention, as embodying the authoritative opinion of the represen¬ tatives of so many countries, and such various systems of currency, as to the most desirable form of monetary union, and as to the most prac¬ tical means of accomplishing it. 1. The first question which engaged the attention of the conference was whether it were desirable to seek among existing systems one which could be adopted, in its integrity or with modifications, for the proposed international coinage, or whether an entirely new system should be devised. Whatever the theoretical advantages or perfections which the latter plan might appear to afford—by allowing, for instance, of the creation of a system based upon a gold decimal unit—it was obvious that the acceptance of such a suggestion was inadmissible in practice, owing to the fundamental changes that it would necessitate. The conference, therefore, had no difficulty in affirming the proposition that u monetary unification may be most readily attained by the adjustment of existing systems, taking into consideration the scientific advantages of certain types and the number of the populations by which they have already been adopted,” nor in indicating the system of the convention of Decem¬ ber, 1805, as that which might be examined with the greatest advantage. It was understood, however, that this resolution involved no opinion upon the subject of the standard, which was reserved for subsequent and separate discussion, and that it was only intended to imply, with regard to the convention itself, that its relative completeness, its subordina¬ tion to the metrical system, and the large number of the population (72,000,000) that had already adopted it, recommended it generally as a nucleus for the further development of the principles of an international coinage. It should be mentioned that in the early part of the present year the Papal government joined the convention of 1865, and that in the month ’ Austria, Baden, Bavaria, Belgium, Denmark, United States, France, Great Britain' Greece, Italy, Netherlands, Portugal, Prussia, Russia, Spain, Sweden and Norway, Swit¬ zerland. Turkey, Wurtemberg. REPORT ON THE PRECIOUS METALS. 273 of April last a law was passed in Greece by which the currency of that country has been remodelled upon the provisions of the convention. 2. An inquiry for the purpose of determining the proper standard to be adopted in any general system of coinage might have been expected to elicit much diversity of opinion in an assembly where the three sys¬ tems of a gold standard, a silver standard, and a double standard were represented, and the unanimous declaration of the conference in favor of a single and a gold standard may be considered as one of the most important features in the deliberations of the conference. The importance of the decision will be better appreciated when it is borne in mind that only two of the states represented—viz., Great Brit¬ ain and Portugal—possess exclusively a gold standard, and that the question of the relative advantages of a single or double standard—which in France has been much contested—was, as lately as May last, exam¬ ined in that country by a government commission, composed of eminent economists, who pronounced by a majority of voices in favor of main¬ taining the double standard. We annex a copy of their report. The difficulties to which the adoption of a gold standard would be likely to give rise in the countries possessing a silver standard during the period of transition, formed naturally the next subject for consideration, and the conference expressed the opinion that the silver standard might be main¬ tained as a transitory arrangement until such time as gold should become the principal instrument of circulation. 3. With the view of facilitating and accelerating the transition from a silver to a gold currency, it was thought advisable to add a recommenda¬ tion that care should be taken to fix the relative value of the two metals at such a proportion as would permit the free introduction and mainte¬ nance of gold. 1 4. It was resolved that a common unit should be adopted for the gold coinage possessing identity of fineness. The standard of fineness was recommended to be 0.900, i. e., 9 parts tine to 1 alloy, and, although differing from the proportion in use in our mint, which allows eleven-twelfths fine and one-twelfth alloy, we saw no reason to prevent us from joining in the recommendation of the other commissioners, considering that the proportion of nine-tenths is not only that which was adopted by the convention of December, 1865, but is the almost universal rule in the mint’s of Europe and in the United States, and has even been recently introduced in the coinage of silver dollars at the Hong Kong branch of her Majesty’s mint. The chief recommendation of the proportion of eleven-twelfths consists in the superior hardness of the alloy; but the advantage which it affords in that respect over the coins of nine-tenths fineness is of no considerable importance. At the same time, to guard against .any misapprehension , we thought it right to qualify our vote by the explanation that the adop- 1 The English ratio at present is 14.28; the United States ratio is 14 } for subsidiary silver; the French ratio is 14f for subsidiary silver.—W. P. B. 18 a 274 PARIS UNIVERSAL EXPOSITION. tion of tlu* standard of nine-tenths could only be introduced in England in the event of a recoinage. 5. The renunciation of the principle of a currency based on a standard of silver seemed to imply and necessitate the adoption of a common unit of higher value than at present prevailing in countries not possessing a gold standard, and the piece of 5 francs was that which, in spite of indi¬ vidual objections, found favor with the majority of the commissioners. Exception was taken to it by some of the members for t«he practical reason of its insignificant dimensions, and upon the more theoretical ground that it does not perfectly harmonize with the decimal system. We shared this opinion, and were prepared to have suggested as pre¬ ferable a 10-franc piece, which would not only be free from these draw¬ backs, but would be more likely to be acceptable in England, which is accustomed to the higher unit of the sovereign. A new British coin having the same quantity of gold as the 10-franc piece, with the same proportion of alloy, would be within | d. of Ss. in value. Such a piece could be legally introduced into circulation as an additional member of the present coinage, provided it was issued as a token coin for Ss., and made a legal tender to a limited amount only, such as £1, or 10-frauc pieces. It could have inscribed upon it u 10 francs,” in addition to its current value of “ 8 shillings.” 1 This coin would become the unit of computation, the new pound, or metrical pound, or it might be made the tenth part of a new metrical pound, if a denomination of higher value were demanded. We would thus become possessed of an interna¬ tional coin. The scheme of coiuage which it would be the means of suggesting is one resting upon the penny reduced four per cent, in value, and would include a silver piece of 10 such pence, in addition to the gold piece of 100 pence. The ultimate adjustment of the European and American coinages contemplated would present: In the French coinage— 1 franc divided into 100 centimes. In the American— 5 francs ($1) divided into 100 cents. In the British— 10 francs (gold florin, one metrical pound, or one-tenth of a metrical poimd) divided into 100 pence; with the addition, if desired, of 100 francs (one metrical pound, £1 sterling) divided into 1,000 pence. Such a coin as the gold Ss. piece could be produced without expense, owing to the seigniorage of %d. which it would yield as a token, and the piece could be made sufficiently distinctive by giving it a plain edge. For the issue of such a piece there is the precedent of the silver florin, which was devised to represent the pound and mill system, and to bring that system under the notice of the public. The Ss. piece proposed would represent the metrical system founded upon the penny, which has always 1 It would be better to stamp such a coin 100 pence rather than 8«.—W. P. B. REPORT ON THE PRECIOUS METALS. 275* been a rival with the former in general estimation, and which seems entitled to equal consideration at the hands of government. The issue of such a piece, while it brought the metrical system of coinage into notice, would not be conclusive as to the ultimate adoption of that system, but would leave it possible to advance in such a course, or to recede from it at any time without embarrassment. We may mention that M. de Jacobi, the representative of Eussia, threw out the suggestion that the objections to the 5-franc piece on account of its small size might be obviated by the introductiQn of platinum as the metal of which it should be composed, observing that a supply in suffi cient quantities could be obtained from the Eussian and South American mines, and that the disadvantages formerly presented by the difficulties of working it had been, in a great measure, removed by recent improve¬ ments. i By a subsequent vote, in which we did not feel called upon to join, an innovation was recommended in the principle of the convention of 1865, which limited the reciprocal obligation of accepting the coins of the Union to the public treasuries, by a proposal that the common coin of 5 francs should be made a legal tender throughout the countries which might unite in a monetary convention. 6. The next proposition, viz: whether the proposed system should include a coin equivalent to 25 francs, offered considerations of more special interest to the English delegates, inasmuch as it indicates what, at present at all events, is believed by many persons to be the only prob¬ able method by which an alliance may be effected between the English monetary system and that adopted under the convention of December, 1865, by so large a portion of the continent of Europe, and which will, no doubt, receive a still wider extension. Indeed, as we had occasion to point out, the 25-franc piece is by no means a necessary ingredient or consequence of the scheme recommended by the conference, and was avowedly proposed and supported chiefly in the hope of securing the adhesion of Great Britain, to which, on account of her large monetary circulation, the activity and extent of her com¬ mercial transactions, and the influence which they exercise in every for¬ eign country, a natural importance was attached. At various stages of the discussions the question of equalizing the pound sterling with 25 francs of French gold was brought forward by different members of the conference, with no undue depreciation of the difficulties which must be encountered in carrying the alteration into effect, but with a generally expressed conviction that these difficulties were in no way insurmountable. The English sovereign contains 123.274 grains troy, including one- twelfth of alloy; that is to say, 113.002 of fine gold, equivalent to a weight in French grams of 7.322. A gold piece of 25 francs would contain 7.258 grams of pure gold, besides one-tenth of alloy, representing a difference in favor of the Eng- 276 PARIS UNIVERSAL EXPOSITION. lisli coin of 0.004, or 04 milligrams, and an excess of pure gold in the English over the French coin of .825 per cent., equal to, as nearly as possible, 20 centimes, or, speaking roundly, 2d. The process of assimilation would, therefore, consist in diminishing the value of the pound sterling by 2d., and substituting for the present sovereign a coin (reduced in fineness to .000) which would exactly cor¬ respond in value with the proposed French gold piece. The mode by which the process might be effected was freely debated, and opinions were expressed that the existing sovereigns might be main¬ tained in circulation by taking advantage of the loss of weight by wear allowed by law, and which permits a divergence of .774 grains, or .028 per cent. (lid. nearly) from the exact weight; but we felt it our duty to declare our opinion that such an expedient would be considered inadmis¬ sible in England, and that we were satisfied that so essential a change could only be carried out at the cost of a recoinage of our whole gold currency, variously estimated at from £80,000,000 to £120,000,000. It was allowed that the sovereign might continue to be divided as at present, into 20 shillings; but it is obvious that, unless the sovereign were divided into 25 francs, small progress would be made towards a general unification of coinage. Now the division of our pound into 25 would be found inconvenient in circulation, and would soon lead, in all probability, to the issue of a 20-franc piece to supersede the former. We do not feel called upon in the present report to enter into any dis¬ cussion upon this question, which would doubtless form the subject of serious consideration hereafter, should her Majesty’s government deter¬ mine to institute an inquiry into the possibility of associating this coun¬ try in the system of international coinage recommended by the Paris conference. We confine ourselves to reporting the earnestness with which the prop¬ osition above mentioned was pressed upon our attention, and with whicli the hope was expressed that it would be made the subject of mature con¬ sideration by her Majesty’s government. Our attention was directed to a small variation in the weight of the sovereign proposed upon other grounds. It is well known that all gold brought to the mint is returned in the form of sovereigns without deduc¬ tion or charge; and there is no doubt that our practice is correct in prin¬ ciple for the metal which, like gold, is adopted as the measure of value. But it is at the same time undeniable that some additional value is imparted to the metal by the work applied to it in coining, and a small charge to cover, or partially cover, the mint expenses is on that account generally imposed upon coin in the countries of the continent, under the name of brassage. In France the charge thus borne by the holders of bullion amounts to 6 francs 70 centimes on a kilogram of gold, which is coined into 155 Napoleons, or 3100 francs, being equivalent to 4.32 centimes on a 20-franc piece. The system of free mintage has also, since 1853, been abandoned in the United States, where, in addition to the REPORT ON THE PRECIOUS METALS- 277 charge for refining, a charge of one-half per cent. (50 cents on $100) is now taken upon all gold brought for conversion into coin. A small mint charge does not appear to be complained of anywhere. The charge acts usefully for the preservation of the coin, by removing any inducement to melt it down for any ordinary technical purpose, or even to supply bullion to foreign mints. We have reason to fear, from what we learned from professional members of the monetary conference, that the British gold coinage is liable to suffer heavily in this way. London is the entre- p6t for the precious metals from which other countries draw their sup¬ plies. Now, gold may be procured from London either in the form of bars or sovereigns, at the same price; while to the foreign purchaser,if a mint contractor, sovereigns offer the following advantages: The assay may be safely relied upon, the gold is already alloyed with copper, and, more than all, the suitability of the metal for coining is insured. Fur¬ ther, sovereigns are taken by number, and the aggregate weight may be as nearly as possible correct. But that is not true of the weight of indi¬ vidual pieces, which, from the unavoidable imperfection of manufacture, are some heavy and some light within a certain small range, recognized as the tolerance in coining. There is reason to believe that large masses of new British sovereigns are occasionally treated so as to separate out the heavy pieces, and these are disposed of as bullion; while the lighter pieces, which may still be all of legal weight, are preserved and put into circulation. This fact will not surprise those persons who are aware of the small margin of profit upon which bullion transactions are often con¬ ducted. A small mint charge on the British sovereign thus appears to be called for, as the necessary means of the preservation of the coin, while the measure is further recommended as an equitable re-payment to the coun¬ try of the cost of coinage. Although this question of the introduction of a mint charge into our system of coinage was only incidentally considered by the conference, we have thought it desirable to mention it somewhat prominently, in consequence of the notice which it has occasionally attracted in this country, and the importance which it would doubtless assume as an ele¬ ment of discussion in the consideration of any scheme involving a re-coinage of the gold currency. We must state that the adoption of the 25-franc piece was warmly supported by Mr. Buggies, the representative of the United States, who informed the conference that his government attached much importance to the coinage by France of pieces of that denomination. Mr. Buggies made the important statement that the United States were prepared to re-coin the whole of their gold, with a view of remodel¬ ling their system upon the basis of the conveiltion of December, 1865; and that notwithstanding the serious loss which such a proceeding would entail, involving a diminution of no less than three per cent, in the value of their gold circulation, a far greater proportion than that involved in 278 PARIS UNIVERSAL EXPOSITION. the proposed conversion of the English sovereign, they looked to no reciprocal advantage beyond the coinage of a 25-franc piece, which would exactly correspond with the half eagle. 7. Considerable difference of opinion was expressed upon the proposal that a piece of 15 francs should be included in the recommendations of tin* conference. The object of the suggestion was to secure the creation of a coin nearly identical in value with 7 florins of Holland or South Germany, and 4 thalers of Prussia, as an inducement to those countries to adopt a coin representing denominations of their own currency, but which would be interchangeable with a French 15-franc piece. In common with several of our colleagues we abstained from voting upon this question, respecting which no final decision was taken. 8. Having thus enunciated principles for the construction of an inter¬ national monetary system, the conference added an expression of their opinion that it would be convenient, and in accordance with the idea of union sought to be established, that the governments of such states as might decide an introducing modifications in their system of coinage based upon on adoption of those principles should, as far as possible, make any measures to be taken for that piupose the subject of diplomatic conventions. 0. At the final meeting of the commissioners, liis Imperial Highness Prince Napoleon, the president of the congress, expressed to them the anxiety of the French government for a practical and early realization of the scheme embodied in the recommendations of the conference, and encouraged them with considerable earnestness to communicate to their respective governments the hope which the imperial government enter¬ tained that in those countries whose circumstances might render their immediate or complete adhesion to the proposed system impossible, some inquiry might, at all events, be forthwith instituted for the examination of its merits and of its adaptability to their own systems and their own peculiar requirements. Ilis Imperial Highness accordingly proposed that an early date should be fixed by which the several governments should be invited to come to some decision as to the course which they might consider it advisable to adopt, and that their views should be then communicated to the French government, who would examine, upon a review of the several opinions expressed, whether a further combined consideration of the question would be desirable. We expressed our disinclination to indicate any fixed period within which it could be expected that the English government would be able to announce a final decision upon so difficult and momentous a question, but stated that in the event of the feeling of the conference being in favor of accepting the suggestion of the president, we could only desire that a sufficiently long delay should be named to admit of Parliament having an opportunity, should it think proper to do so, of discussing and pronouncing an opinion upon the subject. With this view we suggested REPORT ON THE PRECIOUS METALS. 279 the 1st of June, 1868, as a date by which her Majesty’s government might possibly be in a position to make some official communication of their views and intentions. The anxiety, however, expressed by Prince Napoleon for an earlier consideration of the matter, was shared by the majority of the confer¬ ence, who fixed the 15th of February, 1868, as the date by which the governments should be invited to make known their intentions to the government of the Emperor. It will be for her Majesty’s government now to determine whether any special inquiry should be established into the results of the deliberations of the conference, and, if so, what form the inquiry should assume. Your lordships will, no doubt, consider that such an investigation is properly due to the intrinsic importance of the question, as well as to a consideration of deference to the earnest interest with which its devel¬ opment from theory to practice has been advocated by the French gov¬ ernment, under whose auspices the conference was assembled, and which has expressed so cordial a desire for the further co-operation of this country. The appointment of a royal commission was made February 18, 1868, by the Queen. The commission had power to call before it, or any five members, such persons as are regarded as “ better informed of the truth in the premises,” and was required to report in writing, as soon as reason¬ ably could be, the proceedings and opinions. This commission reported on the 25th of July, 1868, 1 adversely to the reduction of the value of the pound to that of 25 francs, and also to the adoption of a gold coin of the value of 25 francs, to be substituted for the sovereign. The report says: u The reduction of the value of the pound would disturb all existing obligations and would cause many and serious difficulties;” and further, that “the measure is, after all, only a partial measure; and although advocated by some witnesses as good in itself, and as a step to further assimilation, the objects sought for by the wit¬ nesses connected with the trade and with the scientific bodies of this country would not be fully attained by anything less than a complete assimilation of the currencies of different countries.” “ Several witnesses who took this view deprecated any change unless a complete assimilation of currency of moneys of account as well as of coins was made.” VIEWS OF M. CHEVALIER. At the conclusion of the reading of the report by Baron de Hock at the third sitting, June 27, 1867, M. Michel Chevalier offered some observations on propositions four and five. He expressed the opinion “that the monetary unit should only be a branch of the general weights and measures, which is the metric system, the essence of which was to 1 Vide Blue Book—Report from the Royal Commission on International Coinage, together with the minutes of Evidence and Appendix. 280 PARIS UNIVERSAL EXPOSITION. have the whole subordinate to the metre. The coinage ought not to stand on an independent basis,” and, notwithstanding the accidental and happy circumstance that the most important monetary unit may be adapted to the piece of live francs in gold by means of very small changes, he considered that it would be best to change radically all the monetary system, and to adopt everywhere as a unit a weight of gold of 5 or 10 grams at .010 fine. The speaker was convinced that the English, faithful guardians at all times of the fineness of their coins, would refuse to lower the pound sterling to 25 francs. 51. Zeer Herzog was in favor of accepting the piece of 5 or 10 grams if he had any hope that it would become the universal coin; but experience has shown that monetary units are not artificially created. The franc owes its easy adoption to its similitude to the ancient livre toumois , and the attempt made in Germany, in 1857, to create a common gold coin of a metric weight has proved a complete failure. 51. 51ichel Chevalier said that it was doing injustice to human intelligence to think that it was incapable to abandon old habits, but in reality we would return to the old practice by giving back to money its true significance, an exact weight, as the words pound and marc prove. The views of 51. Chevalier were further expressed in a letter to the Journal des Debats in which he discussed the monetary question then before the International Conference. That discussion was cited as follows by the Paris correspondent of the London Economist: 44 lie admits that, though there is much to be said in favor of the French one franc piece in silver, there is no chance of a silver standard being adopted, 4 gold having,’ he says, 4 obtained the preference of the greatest number of States. The English,’ he continues, 4 are very determined on this point; they will have gold pieces, nothing but gold. Silver, with them, is only employed to make up sums, and silver pieces are of a nominal value superior to their real one. The Americans appear to be not less determined in favor of gold pieces; and Portugal has the same sentiment.’ u Having said this, he shows briefly the objections, scientific and prac¬ tical, to maintaining both silver and gold standards, inasmuch as it is impossible to keep up a fixed proportion in the value of the two metals. Then he examined the proposition which has been made to reduce slightly the value of the English sovereign (by about 2d.) and the United States five-dollar gold piece, in order to make them equal to 25 francs French, and to coin 25-franc gold pieces in France. But he doubts that the English would consent to such a measure. 4 They are rigorous,’ says he, •on the chapter of money. They shrink from no sacrifice to maintain their money perfectly intact; they make it a point of honor so to do, and they are right.’ Besides, he doubts that the French gold coin, which is now of 20 francs, with subdivisions of 10 francs and 5 francs, 4 pos¬ sesses a character which imposes it on the adoption of other nations.’ REPORT ON THE PRECIOUS METALS. 281 “And these are his reasons: 4 The metrical system is nowin favor everywhere. But unfortunately the French gold piece is out of the pale of the metrical system. In respect to this system, a piece like that of 20 francs, which weighs 6.451 grams and an indefinite fraction, is as absurd as the pound sterling, the gold dollar, the eagle, or half-eagle, the doubloon, the German crown, and any other gold piece which circu¬ lates. The English are as much justified in recommending for universal unity the pound sterling, or the Americans the dollar, or the Spaniards the doubloon, as the French are in recommending the 5-franc piece, or the 20-franc piece, or the 25-franc piece in gold.’ The great economist therefore advises that from respect for the metrical system , the French should abandon their gold pieces. “He observes that by so doing they would prove the reality of their faith in that system, ‘ faith without works being dead.’ Nevertheless, he does not deny that if the International Commission should resolve on placing the English pound sterling, the United States half-eagle, the imperial of Russia, and an Austrian gold piece of 10 florins, on a level with a French gold coin of 25 francs, it would be a progress compared with the existing state of things. c We, however,’ he adds, L should feel regret at the reform not being made more complete and more rational— at stopping half-way when it was possible to go the whole distance. Modern nations,’ he remarks in conclusion, 4 like progress so much that they may confidently be called on to make an effort when an important and definitive amelioration has to be effected.’ From the above it appears that leading political economists of France were earnestly averse to the recommendation of the international com¬ mittee of the Paris Exposition in favor of the substitution of the weight of the French five-franc piece of gold for that of the United States gold dollar. Their opposition was based on the unmetrical character of the proposed monetary unit. OPINIONS EXPRESSED IN THE UNITED STATES. The views of Mr. Ruggles in respect to the coinage of a 25-franc piece have not found ready acceptance by the scientific men of the United States who have given the subject thoughtfid investigation. The great objection to the system of unification proposed by Mr. Ruggles is that it is not metrical—in other words, that the coins of the denominations and values proposed do not have simple relations as to weight with the gram, which is the unit of weight of the French metrical system. The gold coin of France is not metrical; it has no simple relation to the metric unit of weight. In changing the coinage of the world, met¬ rical unity is one of the first considerations. If we first obtain metrical harmony, unification of coins will follow. The gold coin of the United States is much more nearly metrical than the gold coin of France. The three-dollar gold piece of the United States weighs 5.015 grams, and the >s2 PARIS UNIVERSAL EXPOSITION. other coins are in proportion. By reducing; the weight this small frac¬ tion, and making the tliree-dollar coin weigh exactly five grams, a simple metrical relation will be established. The German crown has an exact simple relation; it contains 10 grains of pure gold. The silver coin of France has simple relations to the gram, and is therefore metric. The ratio of value of silver to gold adopted by France (viz., 15£ to 1) is an undesirable one; it causes silver coin to be under¬ rated, instead of being overvalued, as it should be, it being above the average market rate, (15§,) for the past 14 years, or since the discovery and working of the rich gold regions of California and Australia. The ratio of 15 to 1 originally adopted for the coinage of the United States in 1790 is a more satisfactory ratio, being below the market rate during the past 150 years, and being very simple for purposes of computation. PETITION TO CONGRESS FROM THE AMERICAN STATISTICAL ASSO¬ CIATION. The petition of the American Statistical Association, adopted at its meeting in Boston in the year 18G7, and presented in both houses of Congress, respectfully asks attention to the following propositions, and requests that the principles involved in them may be incorporated in any law that may be adopted in respect to the metrical system of weights, measures, and coins: First. That the American Statistical Association earnestly favors the speedy practical adoption by the people of the United States of the met¬ rical system of weights and measures; the system of which the metre, the litre, and the gram are respectively the units of length, of capacity, and of weight, and the use of which, by act of the last (the 39th) Con¬ gress, has been rendered permissible in the United States in the making of contracts, and has been necessitated by the requirements of several branches of industry. Second. That our coinage should have simple relations as to weight with the unit of weight of the metrical system, the gram. Third. That the standard as to fineness of our coinage, whether of gold or silver, should continue as now, nine-tenths of fine metal to one- tenth of alloy. Fourth. That in the opinion of this association no widely-extended and permanent uniformity as to coinage can be secured through the adoption by our government of any system which is in conflict with the principles above mentioned. Fifth. That the weight in grams and the fineness of the coins here¬ after to be issued should be legibly stamped thereon prior to issue. Sixth. That the changes required for converting our existing coinage into a metrical one are so slight that the recoinage of the existing coins of the United States would be unnecessary; that the difference between the existing coinage and that proposed, especially as regards gold coins of less denomination than 810, is very considerably less than the devia- REPORT ON THE PRECIOUS METALS. 283 tion now allowed to tlie mint, wliicli is one-fourth of a grain for the gold dollar and the quarter eagle, and one half of a grain for the half eagle, the eagle, and the double eagle. Seventh. That, in pursuance of the foregoing, the gold dollar should contain grams of fine gold, or its equivalent, If grams of standard gold, (nine-tenths fine,) and that other gold coins should be in proportion. 1 Eighth. That the silver half dollar and the smaller silver coins here¬ after to be issued should contain of fine silver at the rate of 22£ grams to the dollar, or their equivalent, 25 grams of standard silver, (nine- tenths fine.) 2 iSTinth. That the gold coinage, as above described, should be made legal-tender in payment of sums of all amount; and that the silver coin¬ age should be subsidiary, and admitted as legal-tender to an amount hot .exceeding $10 in any one payment. 3 REPORT OF SENATOR SHERMAN. In the Senate of the United States, June, 1868, Mr. Sherman made the following report, 4 to accompany Senate bill Ho. 217: “The following documents have been referred to the Committee on Finance: “ 1st. S. 217, in relation to the coinage of gold and silver. “2d. S. 412, to promote uniformity of coinage between the moneys of the United States and other countries. “3d. The proceedings of the International Monetary Conference, held at Paris in June, 1867. “4th. The report of Samuel B. Buggies, esq., delegate from the United States in the International Monetary Conference at Paris, November 6, 1867. “5th. Sundry memorials relative to changes in our system of coinage. 1 The weight of the existing gold dollar, when new, is slightly (only about three-tenths of one per cent.) in excess of the proposed metrical dollar, the former containing of fine gold 1.505 grams, or of standard gold (nine-tenths fine) 1.672 grams; an excess of about 5-1000ths of a gram, or 8-100ths of a grain, and which is about one-third of deviation allowed the mint. 2 The existing legal-tender silver 5-franc piece of France contains 25 grams of standard silver, (nine-tenths fine,) or 221 grams of fine silver, the same as herein proposed. Our existing fractional and subsidiary silver coins are somewhat smaller than the above, about one-half of one per cent., containing of standard metal at the rate of 24.86 grams to the dollar, instead of 25 grams, the difference being inconsiderable. 3 It will be observed that the proposed silver coinage has precisely 15 times the weight of the proposed gold coinage of the same denominations. The market equivalent is, and for the past 60 years has been, greater than this, the value of gold relatively to silver having averaged for the past 14 years 15f times that of silver. Hence, by the above propositions, silver is overvalued, as, according to the experience of all commercial nations, it should be. But, to prevent the silver from driving the gold from circulation, it is necessary, as proposed, that the silver should be legal-tender only in payment of sums of small amount. The limit in the United States is now five dollars ; in England 40 shillings, (about $10.) * Senate report No. 117, 40th Congress, second session. PARIS UNIVERSAL EXPOSITION. 284 •• Those (locuinents present to the Committee on Finance tin* interesting question of international coinage, and in considering them we necessa¬ rily inquired: “ 1st. Whether the object proposed was of sufficient importance to jus¬ tify a change in the coinage of the United States. “2d. Whether the plan proposed by the Paris conference was the best mode to accomplish the end desired. “3d. What legislation was necessary on the part of the United States to adapt our coinage to the plan proposed. “4th. What provision should be made for existing public and private contracts. “Your committee, after a partial consideration of these questions, direct that the bill first named be reported with amendments, supported by the following report, and that Mr. Morgan, of the same committee, be authorized to submit a report adverse to the bill, and that these reports be printed, and that the bill be postponed until next session, with a view to elicit a fuller discussion by the people of the several questions embraced in the bill. “ The importance of a common monetary standard among commercial nations has always been conceded. It has been the hope of philosophers and statesmen and the demand of writers on political economy for cen¬ turies, but has been as strongly opposed by the jealousies of locality and the interests of rival nations. Commerce and peace have steadily approximated different standards of exchange towards each other, while local interests and war have as steadily diverged them from each other. In all ages local and generally despotic authority has endeavored to make more money out of a given amount of gold and silver by clipping or alloy, while the general laws of trade and commerce have soon after reduced the current value of the money as it was reduced in weight and fineness. Formerly, not only each nation, but each province, duke, bishop, or municipality, made its own separate and distinct coin, often of the same name but different values. The effort to unitize the differ¬ ent moneys of a nation was but a part of the process by which the mod¬ ern nations of Europe have been formed, and in this process the original money was debased in a remarkable way. The pound sterling of Eng¬ land was, at the time of William the Conqueror, equivalent to a pound weight of silver. It is now 3 oz. 12 dwt. 1G grs. The German florin was originally a gold coin, worth about $2 40. It is now a silver coin, worth about 40 cents. The French livre originally contained a pound of silver, worth about $1S 50. It is now worth about 19 cents. The Spanish maravedi in the year 1220 was worth $3 20 of our money. It is now worth about a quarter of a cent. The result of these changes has been to secure to all parts of each leading nation a common unit of money— of fixed value. The pound sterling is the unit in Great Britain; the franc in France. Italy, Switzerland, and Belgium; the florin in South Germany; the thaler in North Germany; the dollar in the United States, 285 REPORT ON THE PRECIOUS METALS. and various other units in other nations. These units are purely arbi¬ trary, based upon local law, and diverse in weight, value, and alloy. They are, in some nations, of gold only; in some, of silver only; and in some a compound standard of gold and silver, and differing materially in the amount of alloy, and in the relative value of the two metals. “For local purposes it is not very material which metal is the standard nor of what weight and fineness the standard may be, if only it is of fixed and invariable value, for the value of property and all internal commerce adapts itself to the intrinsic value of the gold and silver in the prescribed standard. “The inconvenience of different standards of value arises mainly in for¬ eign commerce, in the exchange of commodities among nations. The intercourse between modern Christian nations is now more intimate and exchange more rapid than it was between provinces of the same country 200 years ago. The annual trade between the United States and Great Britain is now greater in bulk and value than the aggregate annual trade between all the nations of Europe 200 years ago. The same rea¬ sons for adopting an international standard of value now exist as induced the American colonies, less than 100 years ago, to abandon their diversified standards of value, and adopt as a common unit the Ameri¬ can dollar. Every advance toward a free exchange of commodities is an advance in civilization. Every obstruction to a free exchange is born of the same narrow despotic spirit which planted castles upon the Rhine to plunder peaceful commerce. Every obstruction to commerce is a tax upon consumption; every facility to a free exchange cheapens commodities, increases trade and production, and promotes civilization. Nothing is worse than sectionalism within a nation, and nothing is better for the peace of nations than unrestricted freedom of intercourse and commerce with each other. No single measure will tend in this direc¬ tion more than the adoption of a fixed international standard of value, by which all products may be measured, and in conformity with which the coin of a country may go with its flag into every sea and buy the products of every nation without being disconcerted by the money changes. “ This has been the wish of American statesmen since the revolutionary war. The Spanish milled dollar was adopted as the basis of our coinage before the Constitution was framed, and with the hope, expressed by Mr. Jefferson, that it would lead to an international unit. Mr. Hamilton and Mr. Gallatin each desired the same result, but the French war post¬ poned all efforts in that direction. Mr. John Q. Adams, in his remark¬ able report to Congress of February 22,1821, upon the kindred but more comprehensive subject, ‘ the uniformity of weights and measures,’ says: “ ‘This system approaches to the ideal perfection of uniformity applied to weights and measures, and, whether destined to succeed or doomed to fail, will shed unfading glory upon the age in which it was conceived and upon the nation by which its execution was attempted and has been in part achieved. r.VRIS UNIVERSAL EXPOSITION. 286 “ ‘If man upon earth be an improvable being; if that universal peace, which was the object of a Savior's mission, which is the desire of the philosopher, the longing of the philanthropist, the trembling hope of the Christian, is a blessing to which the futurity of mortal man has a claim of more than mortal promise; if the spirit of evil is, before the final con¬ summation of things, to be cast down from his dominion over men and bound in the chains of a thousand years, the foretaste here of man’s eternal felicity, then this system of common instruments to accomplish all the changes of social and friendly commerce will furnish the links of sympathy between the inhabitants of the most distant regions; the metre will surround the globe in use as well as in multiplied extension, and one language of weights and measures will be spoken from the equator to the poles.’ “ Several efforts have been made by negotiation to secure uniformity of coinage, especially with great Britain. “ In 1S57, in compliance with an act of Congress, passed upon the report of the Committee of Finance of the Senate, Professor Alexander was sent as a special commissioner to that country to secure a unity of coin¬ age between the two countries, but, after various conferences, the mis¬ sion failed from an indisposition of the English government to modify their pound, shilling, and pence. “ In his report of December, 18G2, Mr. Secretary Chase invited the attention of Congress to the importance of uniform weights, measures, and coins, and recommended that the half eagle of the United States be made equal to the gold sovereign of Great Britain in weight and fine¬ ness. “ The Berlin International Statistical Congress, held in 18G3, composed of representatives of 14 countries, and at which the United States was ably represented by Mr. Buggies, agreed to the following resolution: “ ‘1st. That the Congress recommends that the existing units of money be reduced to a small number; that each unit should be, as far as possi¬ ble, decimally subdivided; that the coins in use should all be expressed in weights of the metric system, and should all be of the same degree of fineness, namely, nine-tenths fine and one-tenth alloy. “ ‘2d. That the different governments be invited to send to a special congress delegates, authorized to consider and report what should be the relative weights, in the metrical system, of the gold and silver coins, and to arrange the details by which the monetary system of different coun¬ tries may be fixed according to the terms of the preceding propositions.’ “This led to the recent Paris conference and to the adoption by Con¬ gress, in 18GG, of several measures for the use of the metric system of weights and measures. At the Paris conference 19 nations were repre¬ sented, governing a population of 320,000,000 European and American, and 190,000,000 Asiatic. “The conference agreed with great unanimity upon the plan hereafter REPORT ON THE PRECIOUS METALS. 287 stated, and the delegates from the United States were active and influ¬ ential in harmonizing conflicting views and in securing the result arrived at. Upon the first part of their inquiry, your committee therefore con¬ clude that the object proposed is of the highest importance, constantly sought for at every period of the government, and that the United States is fully committed to its support if the plan proposed is practicable and just. “ Aside from the general advantages which we will share with the civ¬ ilized world in attaining a uniform coinage, there are special reasons why the United States should now adopt the system. “The United States is the great gold-producing country of the world, now producing more than all other nations combined, and with a capacity for future production almost without limit. 1 (See reports of Mr. Buggies and J. Boss Browne.) Gold with us is like cotton, a raw product. Its production here affects and regulates its value throughout the world Every obstruction to its free use, such as the necessity of its recoinage when passing from nation to nation, diminishes its value, and that loss falls upon the United States, the country of production. “2. The United States is a new nation, and therefore a debtor nation. By placing ourselves in harmony with the money units of creditor nations, we promote the easy borrowing of money and payment of debts without the loss of recoinage or exchange, always paid by the debtor. This is necessarily so where the debt is payable abroad, and if payable here the creditor discounts the exchange and difference in coinage in advance. “ 3. The technical rate of exchange between the United States and Great Britain, growing out of the different nominal values of coin, is a stand¬ ing reproach which can only be got rid of by unifying the coinage of the two countries, when both the real and technical rate of exchange will be at par with only such slight variations as will indicate the course of trade. “4. Gold is now demonetized as a currency, and the great bulk of it in the United States is now held in the treasury, so that it is not possible to select a time when this great international change of coinage could affect the interests of our people less. From inquiries made of the offi¬ cers of the mint we find that the cost of reminting the present coin would.be less than one-twentieth of one per centum. The fineness of the proposed coin being the same as the old, there would be no assay, and the cost of the change would not be perceptible to the holder of the coin, and scarcely so to the government. “The second inquiry of your committee was whether the plan proposed by the Paris conference was the best mode to accomplish the end desired. “It proposes: “1. A single standard, exclusively of gold. “2. Coins of equal weight and diameter. “3. Of equal quality or fineness—nine-tenths fine. 1 Upon these points the foregoing pages of this report and the tables of prod uctiou iu Chapter viii may be consulted.—W. P. B. PARIS rxiVERSAL EXPOSITION. 288 ‘*4. The weight of the present flve-franc gold piece to In* the unit. u f>. The coins of each nation to bear the names and emblems prepared by each, but to be legal tenders public and private in all. •• 1. The single standard of gold is an American idea, yielded reluctantly by France and other countries, where silver is the chief standard of value. The impossible attempt to maintain two standards of value has given rise to nearly all the debasement of coinage of the last two centu¬ ries. The relative market value of silver and gold varied like other commodities, and this led first to the demonetization of the more valua¬ ble metal, and second to the debasement or diminution of the quantity of that metal in a given coin. In a short time the cheaper metal would by a diminished supply become the dearer metal, and then it would be debased and cheapened in the same way. This process repeatedly occurred in Europe, and has twice occurred in the United States within the life of the present generation. By the act of June 28,1834, our gold coin was reduced from 270 grains of standard gold to 258 grains, or 4.4 per centum, in order to make it correspond with the market value of silver. In consequence of the discovery of gold in California that metal was cheapened, and silver became relatively more valuable and was hoarded or exported. To avoid this the weight of our silver coin was reduced by the act of January 21, 1853, from 20G grains of standard sil¬ ver to 102 grains, or G.7 per centum. u This subject early excited the attention of financiers. Mr. Gorham, in his report of May 4, 1830, as Secretary of the Treasury, forcibly says: u i Amidst all the embarrassments which have surrounded this subject since the adoption of metallic standards of property, it is remarkable that governments have so tenaciously persevered in their effort to main¬ tain standards of different materials, whose relation it is so difficult to ascertain at any one time, and is so constantly changing; and more especially when a simple and certain remedy is within the reach of all. This remedy is to be found in the establishment of one standard measure of property, only. The evil of having two or more standards arises, as already observed, from the impossibility of so fixing their relative values by law that one or the other may not, at times, become of more value in market than estimated by regulation; and, when this happens, it will be bought and sold according to its market value, regardless of the law. u *The proposition that there can be but one standard in fact is self-evi¬ dent. The option of governments charged with this duty is therefore between having property measured sometimes by gold and sometimes by silver, and selecting that metal which is best adapted to the purpose for the only standard. AYliy the latter course has not been universally adopted it is not easy to explain, unless it may be attributed to that prevalent delusion which seeks to secure the possession of gold and sil¬ ver by restraining their exportation, and avoiding the payment of debts rather than improving the public economy by giving every facility to it.’ “The opportunity is now offered to the United States to secure a com- REPORT ON THE PRECIOUS METALS. 289 mon international standard in the metal most valuable of all others— best adapted for coinage, mainly the product of our own country, and in conformity with a policy so constantly urged by dur statesmen, and now agreed to by the oldest and wealthiest nations of the world. Surely we should not hesitate for trifling considerations to secure so important an object. “The equal weight and diameter of coins will guard against adultera¬ tion and coimterfeiting, and will familiarize our people with the metric system of weights and measures. This system is already used in some of our coins, and is permitted by our laws, and will, by gradual means, become adopted as the only international system. “ The provision made that each nation shall retain its own emblems, will not impair the ready currency of coin, but will induce care in coinage. The fineness proposed is the present standard of the United States—an important consideration in recoinage, as no new assay will be required. “All the provisions of the plan proposed are in harmony with the American system of coinage. They are either already adopted or may be without inconvenience. The only point upon which a diversity of opinion may arise is as to the unit of value, and here the chief difficulty was not as to what particular quantity of gold was the best unit, but upon what quantity all the nations represented could agree. The unit recom¬ mended is the existing 5-franc gold piece, 620 of which weigh a kilogram. “For the reasons that induced the adoption of this unit of value, refer¬ ence is made by your committee to the report of Mr. Buggies. They may be summed up as follows: “1. The coin proposed is the smallest gold coin in use, and therefore the most convenient unit of value. “2. It approximates more nearly to existing coinage of the great com¬ mercial nations than any other proposed. The dollar reduced 3£ cents at the mint becomes the unit of value, and its decimal divisions and mul¬ tiples enable us to retain all our well-known coins, both of gold and silver. “A very slight reduction of the English sovereign makes it conform to the multiple of the dollar and franc, so that five francs are a dollar, and five dollars are a sovereign, or a half-eagle. The same unit is easily adapted to existing coinage of other nations. “3. The franc is already in use by 72,000,000 of the most industrious and thrifty people of Europe—France, Belgium, Italy, Switzerland, and Holland. u 4. The actual gold coinage in francs from 1793 to 1866 was $1,312,220,814, while the gold coinage in dollars during the same period was $845,536,591, and in sovereigns was $935,341,450, thus showing that in France alone the existing gold coinage on the proposed standard is greater than upon any other that could be adopted. 11 It must be remembered that the great body of our coin and bullion has been exported, and is now in foreign coin; that a large part of the bal¬ ance is held in the treasury, and that less gold is in actual circulation in 19 Gr 200 PAKIS UNIVERSAL EXPOSITION. the United States than in any other great commercial nation. It is unreasonable, in view of these facts, for the United States to demand that our dollar, composed of 1671.50 milligrams of gold, should be the standard of value. As the nation most interested in international coin¬ age, we should be ready to yield something to secure that object. By the plan proposed we yield nothing except the very small reduction of the weight of our standard, and without any other change in our coins, multiples, divisions, devices, or alloy. u 5. France, whose standard is adopted, makes a new coin similar to our hall-eagle. She yields to our demand for the sole standard of gold, and during the whole conference evinced the most earnest wish to secure the co-operation of the United States in the great object of unification of coinage. Her metric system is far the best yet devised and is in general harmony with our own, while Great Britain lias refused even to negotiate with us for unity of coinage, and maintains the most complex system of weights, measures, and coinage now in use among Christian nations* The decimal system, the basis of all our computations, she rejects, and adheres to the complex division of pounds, shillings, and pence, which we rejected with colonial dependence. “These reasons induce your committee to earnestly urge the adoption by the United States of the general plan of the Paris conference. u What legislation is necessary on the part of the United States to adapt our coinage to the plan proposed ? “On this point your committee have consulted the Secretary of the Treasury and the director of the mint. The bill herewith reported is the result of this conference, and is all that is needed to secure the object proposed. The provisions in regard to silver coinage are urged by the director of the mint to secure harmony between the present market value of gold and silver; but this coinage can be regulated hereafter by the varying values of the two metals and without disturbing the sole legal standard of value for large sums. The general provisions of existing law relating to coinage are preserved. u What provisions, if any, should be made for existing contracts ? Shall they be discharged in the money made a legal tender at the date of the contracts or in the money provided for by this bill ? “ In determining this question, a distinction must be made between public and private debts. All private contracts are made in view of the power of Congress to regulate the value of coins. This power has been repeat¬ edly exercised by Congress, and in no case was auy provision made for enforcing existing contracts in the old rather than the new standard. All property and contracts may be affected by legislation, but it is not presumed that in the exercise of its legislative power Congress will be controlled by either the debtor or creditor, but only by the general good. To continue a distinction between the old and the new coin in the payment of private debts would result in great inconvenience, while making the new coin a legal tender for all debts after a reasonable time EEPOET ON THE PEECIOUS METALS. 291 would enable our citizens to conform tlie great body of their contracts to the new standard. Such has been the practice not only in the United States but in other countries, where from time to time the standard of coin has been changed. Such was the principle adopted in the passage of the present legal-tender act, which if made applicable only to future contracts would have bankrupted a large portion of the active business men of the country, whose business compelled them to contract debts. u It must be remembered that all private debts are now on the basis of legal-tender notes, of far less intrinsic value than the proposed coin. The depreciation of legal-tenders had the effect to diminish the value of all debts and the property of all creditors to the extent of the depreciation, and is only justifiable by the highest considerations of national safety. The resulting process of returning to specie basis will be far more severe on the debtor class. The depreciation of the burden of debt is a loss to a class generally benefited by the increased value of fixed property, and better able to bear the diminution of their capital, but an increase of the burden of the debt to the debtor class, by the payment of coin instead of depreciated paper money, often produces absolute ruin without fault in the debtor. All contracts are now on the legal-tender basis. Every private creditor would now take the new coin, and would be largely benefited by the changed medium of payment. The small relief of the debtor by the slightly diminished standard of coin will tend to that degree to lessen the unavoidable hardship to him of a return to specie payment. This relief would be especially just on the payment of long bonds issued by railroads and other corporations during or since the war, which were almost uniformly sold for depreciated paper money. Your committee therefore conclude, that as to all private debts or contracts, the only provision necessary in this bill is to postpone the operation of its legal- tender clause for a reasonable time after the passage of the act. “Does not a different principle prevail as to public debts J ? As to pub¬ lic debts, the contract of loan is the only law that ought to affect the creditor until his debt is fully discharged. Congress, as the authorized agent of the American people, is one party to the contract, and it may no more vary the contract by subsequent acts than any other debtor may vary his contract. As to the public creditor, no legislative power stands between him and the exact performance of his contract. Public faith holds the scales between him and the United States, and the penalties for a breach of this faith are far more severe and disastrous to the nation than courts, constables, and sheriffs can be to the private debtor. These penalties are national dishonor and inability to borrow money in case of war or public distress, and the ultimate result is the sure and speedy decline of national power and prestige. When changes in our coin were made in 1834 and 1853, the United States had no public debt of any sig¬ nificance, and the precedents then made do not apply to the present time. Now the public debt is so large that a change of 3£ per cent, in the value of our coin is a reduction of the public debt of $90,000,000. So much of PARIS UNIVERSAL EXPOSITION. 292 this debt as exists in the form of legal-tender notes will be received and disbursed as money, and as its value for some time will be less than the new coin no provision need be made for it, but for so much of the debt as is payable, principal or interest, in coin of a specific weight and value, provision ought to be made for its exact discharge in that coin or its equivalent in the new. Your committee, therefore, propose an amend¬ ment to that effect. “Your committee have been led to inquire whether, if the United States adopt the plan of the Paris conference, it will be adopted by other nations so as to accomplish the object proposed, of an international currency, of universal circulation throughout the civilized world. Upon this point we have the most satisfactory assurances. Since the Paris conference it has been adopted by Austria, aud will, in all human probability, be adopted by the North German Confederation. A strong party in Great Britain, including many of her ablest statesmen, and the great body of her commercial classes, has urged the adoption of the plan, even in advance of the United States, and they concur in the opinion that, if adopted by the United States, Great Britain will be induced by her inter¬ ests to modify her sovereign to the international standard. We have the highest authority for saying that Canada stands ready to adopt the plan the moment it is adopted by the United States. Different representa¬ tives of the South American States say those States will readily adopt it; so that upon Congress now rests the fate of a measure that, according to the opinion of eminent American statesmen, will shed unfading glory upon the age of its adoption, that will give to international law an inter¬ national coinage, and will lead to a vast extension of the objects of international law common to Christian and civilized nations, thus binding the whole family of man by the same ties that are uniting and consoli¬ dating neighboring states. Yom* committee recommend the adoption of this measure with certain amendments, with the conviction that it will not only promote the local interests of the United States, but will sub¬ serve the general interests of all the nations who have already or may hereafter join in its adoption.” REPORT OF SENATOR MORGAN. Mr. Morgan, from the Committee on Finance, United States Senate, submitted the following report, to accompany Senate bill No. 217: “ In June last, while the Universal Exposition was in progress, an inter national monetary conference was held in Paris, under the presidency of the French minister for foreign affairs. Delegates from the several European nations were present. Mr. Samuel B. Buggies represented the United States, and his report on the subject has been communicated to Congress, through the Department of State. From this it appears that apian of monetary unification was there agreed upon, the general features of which are: “1. A single standard, exclusively of gold. 293 \ REPORT ON THE PRECIOUS METALS. “2. Coins of equal weight and diameter. “3. Of equal quality, nine-tenths line. « 4. The weight of the present 5-franc gold piece to be the unit, with its multiples. The issue by France of a new coin of the value and weight of 25 francs was recommended. “ 5. The coins of each nation to continue to bear the names and emblems preferred by each, but to be legal tenders, public and private, in all. “ Senate bill 217 is designed to carry into effect this plan. Its passage would reduce the weight of our gold coin of $5 so as to agree with a French coin of 25 francs. It determines that other sizes and denomina¬ tions shall be in due proportion of weight and fineness; and that foreign gold coin, conformed to this basis, shall be a legal tender, so long as the standard of weight and fineness are maintained. It requires that the value of gold coins shall be stated both in dollars and francs, and also in British terms, whenever Great Britain shall conform the pound sterling to the piece of $5. “It conforms our silver coinage to the French valuation, and discon¬ tinues the silver pieces of one dollar, and five and three cents, and limits silver as a legal-tender to payments of $10. The 1st of January, 1869, is fixed as the period for the act to take effect. ‘■The reduction which this measure would effect in the present legal standard value of the gold coin of the United States would be at the rate of $3 50 in the hundred, and the reduction in the legal value of our silver coinage would be still more considerable. “A change in our national coinage so grave as that proposed by the bill should be made only after the most mature deliberation. The circulating medium is a matter that directly concerns the affairs of every-day life, affecting not only the varied, intricate, and multiform interests of the people at home, to the minutest detail, but the relations of the nation with all other countries as well. The United States has a peculiar interest iu such a question. It is a principal producer of the precious metals, and its geographical position, most favorable in view of impending commer¬ cial changes, renders it wise that we should be in no haste to fetter our¬ selves by any new international regulation based on an order of things belonging essentially to the past. “Antecedent to any action by Congress on this subject we should care¬ fully consider: “I. The effect which the present abundant production of the precious metals, especially of gold, and the probable great increase in the supply, as mining facilities are improved and more generally applied, will have upon the purchasing power of these metals. “II. The question of preserving such a relation between gold and silver as will retain the latter metal in free circulation, and continuance of the coinage of such denominations of silver as will serve to encourage Ameri¬ can commerce with Mexico and with South American and Asiatic nations. “III. The choice of a standard of unification which, all things consul- 294 *ARIS UNIVERSAL EXPOSITION. ered, shall bo least objectionable on account of fractional weights and intricacy of calculations. “IV. Of delaying action until the Paris plan has been adopted by the commercial powers of Europe, and accepted by those nations on the west¬ ern continent with whom we have commercial relations; or at least until their intentions in this regard are more fully known. “V. Should not a period when the public mind is calm, more so than now, on the subject of monetary affairs, and when the national debt has become less formidable, be chosen for initiating a change ? u VI. The advisability of further popular discussion of the subject, to the end that the business as well as general public shall fully understand on what grounds so important a reduction in the value of our monetary unit, the dollar, is based, and the further advocacy of the merits of our own, so that, should any existing system be accepted, ours shall be more fully considered in that connection. “ Uniformity in coinage and also in weights and measures has been the pursuit of ages. Speculative systems have been advanced, only to be given up when subjected to practical tests, but the idea has never been abandoned. Nor was the recent occasion the first in which our govern¬ ment has been recommended, and that, too, with some urgency, three- quarters of a century ago, by the minister of that country, to adopt the French system of weights, measures, and coinage. But Congress, both then and since, has properly exercised great caution on a subject so full of complications. And the question of international unification yet remains an open one, balanced between the facilities it would afford to foreign commerce and the evils it would introduce into our domestic affairs. The adoption of some satisfactory and comprehensive plan, one to be adopted because it shall best subserve the interests of all, and not because it is or is not an existing one, may become desirable. If so, Congress will then be ready to take part in effecting such a measure. At present, however, there are questions of a very practical nature rela¬ tive to the precious metals that begin to reveal themselves, and will soon press home upon us, which largely outweigh in importance the more theoretical one of assimilating all metallic circulations. Our situation as a commercial nation makes it prudent that on this, as on every ques¬ tion affecting home interests, we should remain free to mould our policy to meet occasions as they arise, following such course as shall appear best suited to develop our great, almost limitless, natural resources, increasing by gentle means the stream of commerce, but forcing nothing, rather than to hamper ourselves by international engagements or arbi' trary regulations. An error now in fixing the values of gold and silver would injure this nation far more than any other. We may safely trust to the natural laws of commerce for the correction of any evils from which we have suffered. We have paid our seigniorage, we have met the demand for foreign exchange, but who shall say that the course of trade in the next ten years may not make an American city, New York REPORT ON THE PRECIOUS METALS. 295 or San Francisco, the centre of exchange, and confer upon us the advan¬ tages so long enjoyed by European capital? Certainly no other nation can so well afford to wait. “The movement proposed in the bill appears to be in the wrong direc¬ tion. The standard value of gold coin should be increased—brought up to our own, rather than lowered. The reason must be obvious. Author¬ ities unite in the conclusion that a fall in the value of the precious met¬ als, in consequence of their rapidly increasing quantity, is inevitable. M. Chevalier recently estimated that the present yield of gold amounts, in 10 years, to about as much as the entire production during the 356 years which intervened between the date of the discovery of America and the year 1846, when the mines of California were found; and Mr. Cobden concluded that unless the cardinal rule of commerce, that quan¬ tity governs price, which applies infallibly to all other commodities, loses its force when gold is concerned, this continued and great increase must be followed by a reduction in its value. “Ross Browne, in his recent report, says that the time is not far distant when the price of the precious metals, as compared with other proceeds of human labor, must fall. ‘They are now increasing more rapidly than is the demand for them, and at the present rate of increase they would soon have to fall perceptibly; but the production will become much greater than it is. The vast improvements that have been made both in gold and silver mining, within the last 20 years, are applied only to a few mines. * * * If all the argentiferous lodes of Mexico, Peru, and Bolivia, known to be rich, were worked with the machinery used at Washoe, their yield would really flood the world. * * * New depos¬ its of silver will be found, and innumerable rich lodes on the Pacific slope of the United States, not yet opened, will be worked with profit.’ 1 “ The present enhanced prices of commodities and labor, the world over, measure, to some extent, the increasing quantity and consequent depre¬ ciation in the value of precious metals, and clearly indicate the direction the change is taking. “The creditor, public and private, will be affected by this tendency, and while he must abide a depreciation which proceeds from natural causes, he may properly insist that artificial evils shall not be superadded. “Of the increased production of gold the United States supplies more than half, and when the lines of railway now pushing across the conti¬ nent shall penetrate the gold-bearing mountains and valleys of Califor¬ nia and Oregon, and the western territories, mining improvements will be powerfully supplemented. “ The American continent, too, produces four-fifths of the silver of com¬ merce. The mines of Nevada have already taken high rank, and Mexico alone supplies more than half the world’s grand total. Our relations with the silver-producing people, geographically most favorable, are oth¬ erwise intimate. Manifestly our business intercourse with them can be ^ee observations on this subject, Chapter viii.—W. P. B. PARIS UNIVERSAL EXPOSITION. 296 largely increased, a fact especially true of Mexico, which, for well-known political reasons, seeks the friendliest understanding. This must not be overlooked. “These two streams of the precious metals, poured into the current of commerce in full volume, will produce perturbations marked and import¬ ant. Other countries will be affected, but the United States will feel the effect first and more directly than any other. “The Pacific railway will open to us the trade of China, Japan, India, and other oriental countries, of whose prepossessions we must not lose sight. For years, silver, for reasons not fully understood, has been the object of unusual demand among these Asiatic nations and now forms the almost universal medium of circulation, absorbing rapidly the silver of coinage. The erroneous proportion fixed between silver and gold by France, and which we are asked to copy, is denuding that country of the former metal. Our own monetary system, though less faulty, is not suit¬ ably adjusted in this respect. The silver dollar, for instance, a favorite coin of the native Indian and distant Asiatic, has well-nigh disappeared from domestic circulation, to reappear among the eastern peoples, with whom we more than ever seek close in timacy. As they piefer this piece we would do well to increase rather than discontinue its coinage, for we must not deprive ourselves of the advantages which its agency will afford, and ‘ it would be useless to send dollars to Asia inferior in weight and value to its well-known Spanish and Mexican prototype.’ “Mr. Ruggles says that nearly all the silver coined in the United States prior to 1858 lias disappeared. A remedy is not to be found in the adop¬ tion of a system that undervalues this metal, for that commodity, like any other, shuns the market where not taken at its full value to find the more favorable one. It is a favorite metal, entering into all transactions of daily life, and deserves proper recognition in any monetary system. “ It is said that ‘to promote the intercourse of nations with each other, uniformity of weights, coins, and measures of capacity is among the most efficacious agencies.’ Our weights, coins, and measures now correspond much more nearly to the English than to the French standard. Our commerce with Great Britain is nine times greater than with France, and if the former does not adopt the Paris system of coinage—and we have no assurance that she will—the United States would certainly com¬ mit a serious error in passing this bill. No argument is needed to en¬ force this. And what of the rising communities ? A properly adjusted coinage would stimulate commerce with those great parts of the conti¬ nent lying south and southwest of us, with the West Indies, and the countless millions of trans-Pacific countries. We stand midway on the thoroughfare of traffic between these two widely-separated races. Our railways, canals, our natural highways, and merchant marine, may be made to control their carrying trade. But here, as everywhere else, a well-adjusted coinage becomes a wand of power in the hand of enterprise. Tokens are not wanting to mark the favor in which the United States are REPORT ON THE PRECIOUS METALS. 297 now lield in China, The usual honor recently conferred by that government upon a citizen of this country was not alone because of his fitness as an ambassador at large, but was a mark as well of a friendly disposition towards this country. Future harmony of intercourse is assured, too, by their adoption as a text-book in diplomatic correspond¬ ence of a leading American authority on international law. Much might also be said about the growing partiality of Japan towards this country; but it is enough that the recent opening of certain ports indicates an enlightened change in the policies of these two old empires, of which commerce, especially our own, is availing itself. There is nothing, in¬ deed, in our foreign policy to create suspicion in the minds of the cau¬ tious statesmen of Asia. We are non-aggressive; our vast domain leaves no motive for conquest; but, on the other hand, our fertile, unpeopled territory invites settlers, and our mines and the demand for labor on the Pacific slope are rapidly drawing thitherward from Asia an increasing tide of emigration, aiding not only in peopling that region, but in establishing closer relations as well between individuals as a more liberal commerce between the nations. “ Referring to the third inquiry, it may be asked, should a new stand¬ ard be adopted; is the French system more suitable for us than our own f “Doubtless the French system ‘embraces all the great and important principles of uniformity which can be applied to weights and measures, (and coins as well,) but it is not yet complete. It is susceptible of many modifications and improvements.’ And it is not inconsistent with the respect held toward so exalted a power as France, briefly for us to examine somewhat more closely certain features of this question. We are producers; France, Belgium, Switzerland, and Italy, (who have adopted the system,) are non-producers of the precious metals, and, therefore, while adding little to the common stock of material for me- talic currency, are not affected like us by an increase in gold and silver. Nor are they likely to be influenced as we are to be, by other coming changes. Neither is there anything in the financial or commercial status of France which entitles her monetary scheme to a preference over all others in fixing a common coinage, unless, in itself, it is superior to all others. This, in a practical sense, is not the fact. Writers represent it as surrounded with difficulties, and an eminent French author calls it ‘the worst of all systems.’ Its basis is arbitrary, and the ratio it observes between gold and silver—one of gold for 15£ of silver by weight , but one to 14 38-100 in value —is a confession of the erroneousness of the plan. In theory, her coinage is metrical, and yet it is said that France has not, nor never has had, a gold coin containing an even number of grams; or, practically, it is unmetrical. The bill proposes 1612.9 milligrams, or 24 89-100 grains, for the gold dollar. If adopted and we should still give to our silver dollar a weight and value equal to the Mexican dollar, 416 grains, we should establish a ratio of value of gold to silver of 16 7-10 to 1, while 15 to 1 is as PARIS rXIVERSAL EXPOSITION. 208 high as it would be safe to go, and where, indeed, our own standard places it. ‘ If we consent to reduce our gold dollar, as proposed by the Paris conference, to 24.89 grains, we could not possibly coin a silver dol¬ lar that would be of any use to us in commerce,’ for we should increase rather than diminish the weight of the gold dollar. “On the subject of the French monetary unit, Mr. Dunning, superin- temlant of the United States assay office in New York, a competent authority, says: “‘The present weight of the gold 5-franc piece is not justified by any scientific reasons better than the mathematical accident that 620 of them weigh exactly a kilogram, a circumstance which has not the slightest practical importance. The fact is, this fractional and incon¬ venient weight, which the world is invited to adopt, was not fixed upon by the French themselves by design, but as the unavoidable result of a false theory.’ “Further, that after having fixed the ratio of gold as 1 to 154, and having adjusted the weight of their silver coins in integral numbers, they were compelled to accept for the 5-franc gold piece the inter¬ minable decimal resulting from the division of 25 grams by 15.5, viz: 1.61290322580645. The awkwardness and inconvenience of this weight, he adds, ‘ can be best shown by giving the weight of a few of the gold coins of France, Great Britain, and the United States, as they will be if the proposed unit is adopted.’ (See accompanying tables.) “Mr. Dunning recommended for consideration a monetary unit of 1620 milligrams, for which he claims greater facility of making calculations than that proposed by the conference, and that it is also a compromise between the French and English coin weights, and would require a reduction on our own dollar of half a cent less than by the plan pro¬ posed in the bill. Mr. Dubois, assistant assayer of the Philadelphia mint, concurs in the views of Mr. Dunning. “Other considerations aside, it may be said that until the leading nations represented at the Paris conference shall adopt a plan of unifi¬ cation, Congress may very properly decline to act; for anticipatory legis¬ lation, while disturbing relations existing between debtor and creditor, would accomplish no practical end. Mexico would not be partial to the French system, and Canada cannot be expected to accept it until its adoption by England. Unification to be desirable must be universal. Unless its advantages are palpable to commercial peoples of Europe, occupying contiguous territories, and whose intercommunication is con¬ stant. it cannot be of serious moment to us, to whom the change would be of but comparative usefulness. “It has been urged as a reason for the early passage of a law to unify coinages, that commercial transactions with Europe would be facilitated thereby; and also that citizens of our country, in visiting Great Britain and the continent, would be spared losses and annoyances if we pos¬ sessed uniformity. But it should be recollected that, in all large com¬ mercial transactions, gold coin is accounted by weight and not by tale— REPORT ON THE PRECIOUS METALS. 299 a proceeding more speedy and equally just; and of the moneys used abroad by travellers from this country, probably more than 90 per cent, is carried in bills of exchange, a mode much safer and more convenient to the traveller, and which would be continued even if the bill became a law. The British delegates at the Paris meeting stated that, 4 until it should be incontestibly demonstrated that the adoption of a new sys¬ tem offered superior advantages, justifying the abandonment of that which was approved by experience and rooted in the habits of the peo¬ ple, the British government could not take the initiative in assimilating its money with that of the nations of the continent.’ 44 A period of suspension of specie payment like the present, it has been stated, is a favorable one for inaugurating the change proposed by the bill. But the juncture is one marked by great differences of opinion in respect to the question of circulation, return to specie payments, and the public finances as a whole. A change in the value of coinage would but add to the embarrassments of the situation, and it may be remarked incidentally that the reduction of the legal value of the dollar would inure largely to the benefit of specidators in gold and hoarders of the precious metals, a fact that might seriously prejudice the measure in public estimation. 44 If the nation were comparatively free from debt, Congress might with more propriety consider the question of changing the legal standard of coin; but one effect of reducing it as now proposed would be to deprive the public creditor of nearly $100,000,000 of his righful due. In the esti¬ mation of the committee such a proposition ought not to be entertained by Congress. It is proper here to say, that the delegate, Mr. Buggies, who favors unification, has at no time thought it just to lower the value of our coin without making proper allowance to the holder of the several forms of national obligations. “ To be acceptable a change in our coinage must be a thing of clearly obvious advantage and proceed from the people. There has, however, been no popular expression in favor of the proposed plan, nor, indeed, any voluntary action in that direction whatever on the part of financial men, either in this country or elsewhere. If there has been any com¬ plaint in regard to our monetary system, the fact has not come to the knowledge of your committee. On the other hand, certain scientific bodies in our country have already protested against any ill-considered change in the American dollar. Our coinage is believed to be the simp¬ lest of any in circulation, and every way satisfactory for purposes of domestic commerce; it possesses special merits of every-day value, and should not, for light reasons, be exchanged where the advantages sought to be gained are mainly theoretical, engaging more properly the attention of the philosopher than the practical man. The instincts of our people lead them to believe that we are on the eve of important business changes, and we may therefore safely hold fast for the present to what experience has proven to be good, following only where clear indications may lead, and a future of great prosperity opens to our country. The war gave us 300 PARIS UNIVERSAL EXPOSITION. self-assertion of character, and removed many impediments to progress; it also proved our ability to originate means to ends. Its expensive lesson will be measurably lost if it fails to impress upon us the fact that we have* a distinctive American policy to work out, one sufficiently free from the traditions of Europe to be suited to our peculiar situation and the genius of our enterprising countrymen. The people of the United States have been quick to avail themseves of their natural advantages. The public lands, not only, and the mines of precious metals, but our political institutions, have likewise powerfully operated in our favor, and will continue to do so with increasing force. “ Unification of the coinage, like all similar questions, should be taken up without bias and considered on the broad ground of national interest. At the proper time, when the country is restored to a normal financial condition, and the public ask a change in this regard, it may be well to appoint a commission of experts, carefully to consider the question in its various bearings. Reflection and further observation here and elsewhere may suggest the foundations for a better and more enduring system than the one now proposed, which in the nature of things is but a provisional one. Permanency is equally important with uniformity in our coinage. “ John Quincy Adams, who spent several years in studying the question of uniformity in weights and measures, and incidentally in that of coin¬ age—indeed, the latter cannot be separated from the other two—says: “ c If there be one conclusion more clear than another, deducible from all the history of mankind, it is the danger of hasty and inconsiderate legis¬ lation upon weights and measures. From this conviction, the result of all inquiry is, that, while all the existing systems of metrology are very imperfect and susceptible of improvements, involving in no small degree the virtue and happiness of future ages; while the impression of this truth is profoundly and almost universally felt by the wise and powerful of the most enlightened nations of the globe; while the spirit of improve¬ ment is operating with an ardor, perseverance, and zeal, honorable to the human character, it is yet certain that, for the successful termination of all these labors, and the final accomplishment of the glorious object, permanent and universal uniformity, legislation is not alone competent. All trifling and partial attempts at change in our existing system, it is hoped, will be steadily discountenanced by Congress.’ “In this conclusion, which applies with even greater force to coinages, a fact fully recognized by Mr. Adams himself, the committee may safely now unite. “For the reasons herein set forth it is respectfully recommended that the bill be not now passed into a law. 1 ’ MR. DUNNING’S SUGGESTIONS . 1 Mr. George F. Dunning, superintendent of the United States assay office in New York, in a letter to Mr. Dubois, of the Philadelphia mint, 1 Appended to the report of Senator Morgan. REPORT ON THE PRECIOUS METALS. 301 February 8, 1868, expresses bis views as given below. In forwarding this letter to Senator Morgan, Mr. Dubois expresses his hearty concur¬ rence : “1. The present weight of the gold 5-franc piece is not justified by any scientific reasons better than the mathematical accident that 620 weigh exactly a kilogram, a circumstance which has not the slightest import¬ ance. The fact is, this fractional and inconvenient weight, which the world is now invited to adopt, was not fixed upon by the French them¬ selves by design, but as the unavoidable result of a false theory. The famous coinage law of the 7th Germinal An. XI attempted to make a double standard, and to fix the ratio of gold to silver as 1 to 15|. Then having very sensibly adjusted the weights of their silver coins in integral numbers, 5 grains for the franc, and 25 grains for the 5-franc piece, they were compelled to accept for the 5-franc gold piece the interminable deci¬ mal resulting from the division of 25 grains by 15.5, viz: 1.61290322580645. u 2. The awkwardness and inconvenience of this weight can best be shown by giving the weight of a few of the gold coins of France, Great Britain, and the United States, as they will be if the proposed unit is adopted: Denominations of coins. Existing weight of gold, 900 fine. Proposed weight adopt¬ ing 1612.9 milligrams for monetary units. Equivalents in troy weight. FRENCH COINS. Milligrams. Milligrams. Grains. Five francs. 1,612. 903 *1, 612. 903 24. 8908 Twenty-five francs. 8, 064. 516 *8, 964.516 124. 4544 One hundred francs. 32, 258. 064 *32,258. 064 497.8177 BRITISH COINS. Four shilling piece. 1, 627.196 11,612. 903 24. 8908 Sovereign. 8,135. 983 18, 064. 516 124. 4544 Five sovereigns. 40, 679. 915 140, 322. 580 622. 2721 UNITED STATES COINS. Dollar. . 1, 671. 813 8, 359. 064 11,612. 903 i 8, 064.516 24.8908 Half eagle. 124. 4544 Eagle. 16, 718.129 33, 436. 258 + 16,129.032 248. 9088 Double eagle. + 32,258.065 497.8177 Grams. Grams. Grains. One thousand francs—French. 322. 5806 322. 5806 4,978.1769 One thousand dollars—United States. 1, 671. 8129 1, 612. 9032 24, 890. 8840 One thousand pounds sterling. 8,135.9840 8, 064, 5161 124, 454. 4220 * No change. t Reduction 0.88 per cent. t Reduction 3.52 per cent. 302 PARIS UNIVERSAL EXPOSITION. “ l\. The following table shows the weight ot' the same denominations of coin, &c., by adopting 1020 milligrams instead monetary unit : of 1612.9 for tin Denominations of coins. So o •n • *-> o> •s a tfcgq . There is another very important advantage offered by the unit of 1020 milligrams, which you and all who have to do with mint calculations 'The exact equivalent of 16*20 milligrams is in troy grains 25.0004; discarding this fraction of xatoJS involves a discrepancy in calculations of only one cent in §000, or of one per ceDt. REPORT ON THE PRECIOUS METALS. 303 will appreciate. I allude to the facility of making calculations. I will not attempt to exhibit the difficulties in calculating value from the standard weight when the relation is expressed in such interminable decimals as must result from the adoption of the unit 1612.9. But you will see at a glance the facility of dealing with the unit of 1620. “The weight of 1,000 francs,or $200,or £40, at 1620 milligrams to the dollar, would be 324,000 milligrams. These values are readily deduced from the ’weight, as w ill be seen by the following examples: France. United States. Great Britain. Milligrams 324,000 Milligrams 324,000 Milligrams 324,000 -^-9=36,000 9=36,000 -^-90=3,600 -^9= 4,000 9= 4,000 -^-90= £40 -^4= 1,000 francs. - 4 - 20 = $200 “ The above divisions are performed mentally without difficulty, and the rule of calculation is exceedingly simple. It is not at the mint alone, nor chiefly, that this facility of calculation will be appreciated. The transactions in coin and bullion the world over will be simplified by it. The experts at the mint can soon adapt themselves to any system, how ¬ ever complicated; but for the convenience of commerce the relation of weight to value in the coins of the world ought to be simple. “ 6. If the troy system of weights is to be continued in this country and Great Britain, it will be immensely important that the monetary unit expressed in milligrams should be easily convertible into troy weight . A glance at the tables given above will show the discrepancy between the unit of 1612.9 and the troy system, and also the beautiful and almost marvellous harmony effected by the unit of 1620 milligrams. “ 7. I trust, however, that Mr. Sherman’s bill will contain a section making the use of the French system of weights obligatory in all the mints of the United States. This change would seem to be almost a necessary part of the plan of monetary unification of the world’s coinage ; and it would certainly be a judicious method of partially familiarizing the country with the metrical system, the universal adoption of which, even if not perfect, is so devoutly to be wished.” BILL INTRODUCED BY MR. KELLEY. In the House of Representatives, July 21,1868, Hon. William D. Kelley, of Pennsylvania, introduced a bill designed to promote the establishment of an international metrical system of coinage. It was read twice and referred to the Committee on Coinage, Weights, and Measures. 1 It pro¬ poses unification upon the decimal-metrical basis, and, as the whole bill is short mid concise, it is here given entire: “Whereas certain nations of Europe have adopted and have proposed to the rest of the world a coinage which was originally based upon that system of weights known as the metrical, but which, under the influence 40th Congress, 2d session, H. R. 1445. PARIS UNIVERSAL EXPOSITION. 304 of circumstances, lias departed from its intended character; and whereas there is an assured expectation that this character of simple relationship to metrical weights will be ultimately returned to; and whereas the coin¬ age of the United States can be brought into exact conformity with met¬ rical weights by a change in its value, amounting to less than one-third of one per centum in the case of gold coins: Therefore, u Be it enacted by the Senate and House of Representatives of the United States of America in Congress assembled , That the gold hereafter coined by the United States shall contain, for each dollar of denominational value, one and one-half grams of pure gold, and shall weigh, for each dollar, one and two-thirds grams, the proportion of alloy being thus kept as one to ten. “ Sec. 2. A n d be it f u rther enacted , That such coins shall be legal tenders in payments arising from contracts made at any time after the first of January, eighteen hundred and sixty-nine, and that in case of all other payments, including those from the United States to its creditors, one thousand and three dollars of this new coinage shall be the legal equiv¬ alent of one thousand dollars of the old coinage of the United States, such being their actual relative values. “Sec. 3. And be it further enacted , That such coins shall have stamped upon them, in addition to other devices, their weight in grams and the inscription, nine-tenths fine. “Sec. 4. And be it further enacted , That the silver half dollars, and all smaller silver pieces, hereafter to be coined, shall consist of standard silver, nine-tenths fine, and shall be of the weight of twenty-five grams for each dollar of denominational value; and shall have their weight and fineness legibly stamped upon them; and shall be legal tenders for the payment of all sums not exceeding ten dollars.” The provisions of the foregoing bill are in accordance with the VIEWS OF MR. E. B. ELLIOTT. At the meeting of the American Association for the Advancement of Science at Chicago, in 1867 and 1868, Mr. E. B. Elliott, of Washing¬ ton, D. C., read a paper upon “The Metrical Unification of International Coinage,” in which was advocated, if any immediate change should be deemed necessary, the adoption of gold coins, which should have very simple relations with the gram , the metric unit of weight. The proposed French coinage did not have this simple relation, whereas the present weight of our own gold coins is almost strictly metrical, the variation being only about three mills in the dollar. He also called attention to the important fact that the principal gold coins of the United States, Russia, Spain, and certain states of Cen¬ tral America, were so nearly metrical (giving the exact numerical rela¬ tions in each case) that a change in the laws making them strictly so would prove only a nominal change, no recoinage being necessary. He also called attention to the fact, of still higher interest, that in 1857 REPORT ON THE PRECIOUS METALS. 305 all Germany and Austria adopted a strictly metrical coinage of gold, by establishing the Union crown and half-crown—the former containing pre¬ cisely ten grams and the latter five grams of fine gold. These several countries, which may be called countries of metrical coinage, have a pop¬ ulation of about 200,000,000, a number greatly exceeding the population of the countries following the gold coinage of France, with its complex and cumbrous relations to the metric unit of weight, the gram. He alluded also to the fact that several of the most prominent scientific men of France and Belgium—among others the eminent M. Chevalier—were earnestly opposed to retaining the existing coinage of those countries, simply on the ground of its want of harmony with their beautiful system of weights and measures. These views of Mr. Elliott are exemplified by the following tabular exhibit of the relations of the existing and proposed systems of coinage: Examples of existing and proposed systems compared. Existing United States system closely approximates to the me¬ trical system. Metrical system, should he adopted. System which it is thought should not be adopted. 9-10 of pure metal to 1-10 of alloy. 9-10 of pure metal to 1-10 of alloy. 9-10 of pure metal to 1-10 of alloy. Standard gold.—Legal tender in payment of all amounts. Ratio of value of gold to silver. Standard silver.—Frac¬ tional legal tender only in payment of small amounts. 1 * 1 ($3) 5. 015 j grams. ( 14! (near- \ ly) to 1. | ($1) 24! > (nearly) grams. | ($3) 5 grams. | 15 to 1 . } ($1) 25 grasm (the legal tender silver 5-franc piece of France.) f ($3) 30-31 of 5 grams, or 4.8387 er ton, or £1 per ounce. The prices per ton for crushing quartz, &c., have ranged from 4 s. to £110s. The lowest prices obtain in the districts of Ballarat and Castlemaine, a nd the highest in Beech worth and Gipp’s Land. Additional particulars—touching the weight and cost of stamp-heads and shanks or lifters, the quantities of quartz crushed per head per diem, the number of holes per square inch in the gratings, the quantity of water used, and the quantity of quicksilver used and the quantity lost—are. EEPOET ON THE PEECIOUS METALS. 313 for tlie first time, included in tliese statistics. They have reference onty to the principal gold mines in the several districts; but they will not on that account be less useful. WEIGHT AND COST OF STAMPS. “In the Ballarat mining district the stamp heads and shanks or lifters vary in weight from 4 hundred weight to 8 hundred weight 2 quarters, and the cost is from £3 17 s. dd. to £15 10,9. The height the stamp-head falls ranges from 7 to 10 inches. The number of strokes made by stamp- heads per minute is from 50 to 85. The quantity of quartz crushed per head per diem of 24 hours varies from 1 ton to 4 tons. The number of holes per square inch in the gratings used is from 40 to 200.—(The latter number is made use of by the Victoria company at Clunes; the grating is fixed at the back of the stamper-box.) The horse-power required to work each stamper is from 1 to 2. The quantity of water used per stamp-head in crushing varies from 950 gallons to 8,640 gallons per diem of 24 hours. The quantity of mercury used in the ripples per stamper is from 5 to 75 pounds. The quantity of mercury lost per stamp-head per week varies from 1 ounce to 8 ounces. “In the Beechworth mining district the stamp-heads and shanks or lifters vary in weight from 4 hundred weight, 1 quarter, 17 pounds to 7 hundred weight, 3 quarters, and the cost from £5 3s. dd. to £13 per head. The height the stamp-heads fall varies from 5 inches to 14 inches. The number of strokes made by the stamp-heads per minute is from 40 to 90. The quantity crushed per head per diem of 14 hours ranges from 16 hun¬ dred weight to 4 tons. The number of holes per square inch in the gra¬ tings used is from 60 to 140. The horse-power required to work each stamp-head is from 0.75 to 1.50. The quantity of water used per stamp- head in crushing varies from 720 gallons to 11,520 gallons per diem of 24 hours. The quantity of mercury used in the ripples per stamper is from 5 to .70 pounds. The quantity of mercury lost per stamp-head per week varies from \ ounce to 8 ounces. “ In the Sandhurst mining district the stamp-heads and shanks or lifters vary in weight from 5 hundred weight to 8 hundred weight, and the cost from £4 5s. to £8 11.9. The height the stamp-heads fall varies from 6 to 18 inches. The number of strokes made by stamp-heads per minute is from 25 to 75. The quantity of quartz crushed per head per diem of 24 hours ranges from 18 hundred weight to 3 tons 3 quarters. The number of holes per square inch in the gratings used is from 64 to 140. The horse power required to work each stamp-head is from 0.66 to 2. The quantity of water used per stamp-head in crushing varies from 4,000 gal¬ lons to 8,640 gallons per diem of 24 hours. The quantity of mercury used in the ripples per stamper is from 10 to 40 pounds. The quantity of mercury lost per stamp-head per week varies from £ ounce to 5^ ounces. “In the Maryborough mining district the stamp-heads and shanks or lifters vary in weight from 4 hundred weight 2 quarters to 8 hundred PARIS I N I VERSA L EXPOSITION. 314 weight, uiul the cost from £4 18#. Or/, to £8 14.v. <►() to 75. The quantity of quartz crushed per head per diem of 24 hours ranges from 1 ton to 3 tons. The number of holes per square inch in the gratings used is from 70 to 144. The horse power required to work each stamp-head is from 0.50 to 2.50. The quantity of water used per stamp-head in crushing varies from 000 to 8,040 gallons per diem of 24 hours. The quantity of mercury used in the ripples per stamper is from 3 to 30 pounds. The quantity of mercury lost per stamp-head per week varies from 1^ ounces to 8 ounces. u In the Castlemaine mining district the stamp-heads and shanks or lifters vary in weight from 4 hundred weight 2 quarters to 8 hundred weight, and the cost from £4 2s. 6d. to £21 11#. 6<1. The height the stamp-heads fall varies from 6 to 15 inches. The number of strokes made by stamp-heads per minute is from 35 to 75. The quantity of quartz crushed per head per diem of 24 hours ranges from 1 ton to 3 tons 5 hun¬ dred weight. The number of holes per square inch in the gratings used is from 40 to 144. The horse power required to work each stamp-head is from 0.50 to 2. The quantity of water used per stamp-head in crush¬ ing varies from 4,800 to 12,900 gallons per diem of 24 hours. The quan¬ tity of mercury used in the ripples per stamper is from 0 to 40 pounds. The quantity of mercury lost per stamp-head per week varies from £ ounce to 24 ounces. “In the Ararat mining district the stamp-heads and shanks or lifters vary in weight from 5 hundred to 0 hundred weight 3 quarters, and the cost from from £7 to £8 8#. The height the stamp-heads fall varies from 74 to 10 inches. The number of strokes made by stamp-heads per min¬ ute is from 00 to 72. The quantity of quartz crushed per head per diem of 24 hours ranges from 1 ton 5 hundred weight to 1 ton 10 hundred weight. The number of holes per square inch in the gratings used is from 90 to 120. The horse power required to work each stamp-head is 0.75. The quantity of water used per stamp-head in crushing varies from 4,320 to 12,900 gallons per diem of 24 hours. The quantity of mercury used in the ripples per stamper is from 0 to 47 pounds. The quantity of mercury lost per stamp-head per week varies from 4 ounce to 7 ounces. “In the Gipp’s Land mining district the stamp-heads and shanks or lifters vary in weight from 0 hundred weight to 7 hundred weight 2 quar¬ ters, and the cost from £5 5#. to £40. The height the stamp-heads fall varies from 7 to 10 inches. The number of strokes made by stamp-heads per minute is from 00 to 80. The quantity of quartz crushed per head per diem of 24 hours ranges from 1 ton 10 hundred weight to 2 tons 1 hun¬ dred weight. The number of holes per square inch in the gratings used is from 70 to 250. The horse power required to work each stamp-head is from 0.75 to 1.50. The quantity of water used per stamp-head in crush¬ ing varies from 1.000 gallons to 25,000 gallons 1 per diem of 24 hours. This is excessive. REPORT ON THE PRECIOUS METALS. 315 The quantity of mercury used in the ripples per stamper is from 10 to 37 pounds. The quantity of mercury lost per stamp-head per week varies from t ounce to 32 ounces.” MEXICO. PRESENT CONDITION OF MINING FOR SILVER AND GOLD. By the kindness of E. L. Plumb, esq., acting minister of the United States to Mexico, I am able to add some late and valuable information to that already given in Chapter Y upon the production of silver and gold in Mexico. It appears from the recent report of the minister of industry that the production of the precious metals is greater than is indicated by the data and estimates obtained from other sources, upon which the statements given on page 156 of this report from the Statesman’s Year Book are based. Instead of $12,500,000 to $13,000,000, the production is con¬ sidered as not less than $20,000,000 for silver and gold. This estimate is based upon the returns of the coinage at the various mints, full returns from which are given, showing that in the 10 years from 1858 to 1867, inclu- • sive, (including also the returns for one year, 1857, for one mint, Durango,)’ the aggregate coinage has been $173,496,910. To this maybe added an estimated amount for the state of Sonora of $10,000,000 more, thus making an average of over $18,000,000 a year. An abstract of these mint returns is here given. The statement of coinage given on page 157 is for one mint only, that of Guanajuato. Gold and silver coinage at the mints of Mexico, from 1858 to 1867, inclusive , ten years , including coinage at Durango for 1857. Name of mint. Silver. Gold. Total. Culiacan, from 1858-1867, 10 years. Chihuahua, from 1858-1867, 10 years. $7, 214, 540 37 5, 483, 000 00 6, 785,170 25 3, 650, 364 36 $1,559,856 00 382, 768 00 368, 565 00 96, 252 00 $8. 774, 396 37 5, 865, 768 00 7,153, 735 25 3,746,616 36 49,114,840 00 14, 170, 656 50 40,168, 210 50 1,525.231 35 42, 977, 456 0G Durango, from 1857-1867, 11 years. Guadalajara, from 1858-1867, 10 years. Guanajuato, from 1858—1867, 10 years.. San Luis Potosi, from 1858 1867, 10 years . Mexico, from 1858-1867, 10 years. 38, 380, 564 50 1, 189, 921 75 42, 276, 448 00 1,787,646 00 335, 313 60 701, 008 00 Oaxaca, from 1858—1867, 10 years.. Zacatecas, from 1858-1867, 10 years. Total amount of gold and silver 173, 496, 910 43 The silver and gold coinage at the nine mints for 1867 amounted to $18,278,866. The ratio per cent, of the silver to the gold coinage as far as shown above is as 95.26 to 4.74. The following are the totals of coinage of the Mexican mints for each year since the war of independence up to 1858, thus, with the foregoing table, completing the exhibit of the coinage up to 1868, with the excep¬ tion of one year, (1857.) PARIS UNIVERSAL EXPOSITION. 31G ('mnaqe of the Mexican mints. 1822 . $0,816,525 1823 . 0,785,024 j 1824 . 0,560,472 | 1825 . 8,927,658 l S26. 8,177,471 1827 . 10,395,201 1828 . 10,237,448 1829 . 12,164,483 1830 . 11,608,871 j 1831 . 10,258,200 ! 1832 . 12,216,460 j 1833 . 12,642,876 j 1834 . 12,072,148 , 1835 . 11,815,687 ! 1836 . 11,530,622 1837 . 11,470,500 1838 . 13,084,267 1830. 12,525,085 1840 . $13,162,567 1841 . 13,475,632 1842 . 13,800,266 1843 . 12,075,608 1844 . 13,671,230 1845 . 15,236,717 1846 . 15,414,453 1847 . 17,636,115 1848 . 10,203,688 1840. 10,386,570 1850 . 19,380,336 1851 . 17,481,034 1852 . 18,100,514 1853 . 17,028,021 1854 . 17,240,046 1855 . 17,503,475 1856 . 10,205,656 This shows a total from the independence of Mexico in 1822 to 1857 of $478,392,014, and, if we allow $18,000,000 for 1857, a total to 1868 of $680,000,000, in round numbers. The amount of coin in circulation was estimated in 1805 at over $78,000,000, and Lempriere, in 1862, estimated it at $70,000,000. In taking the amount of coinage as an indication of the total produc¬ tion of Mexico, it is to be considered that a part of this coinage may consist of a recoinage of old and worn coin, and of bullion which may have passed through the mints before. But these sources of error are more than counterbalanced by the amount of silver secretly exported, or smuggled out of the country along both coasts, and on the frontier, which is acknowledged to be very large. Lempriere, with the official documents and information before him, states that the total value of gold and silver legally exported since the conquest down to 1858, a period of 339 years, is estimated at $4,640,204,889. This gives $13,687,920 as the average legal exports of the precious metals per annum from the landing of Cortez to 1858. 1 REDUCTION WORKS OF PACHUCA. The following tabular statement shows the quantity of ores worked the costs, and yield, at several of the mills in the district. There are other establishments for working ores at San Antonio, La Purissima, l)e Enmedio. l)e Jesus, Guadalupe, and San Antonia Regia. : Lempriere’s Mexico, p. 215. From information supplied by the Ministerio de Foment© and E. L. Plumb, esq. Tabular statement of ores worked and of the results obtained in 1864. 1 Names of the works. Proprietors. Number of cargas reduced in three months. Cost per monton of 30 quintals. Method employed. Yield per monton. Percentage of loss. Loss of quicksil¬ ver per mark of silver produced. Consumption of material per monton. By assay. By work¬ ing. Arrobas of salt. Sulphate of cop per. Cargas of timber. Ms. Ms. Ms. Onz. Pachuca. Loreto. Comp. Inglesa. 11,430 $37 56 Patio. 1 o S. MR. CASTILLO ON THE ABOLITION OF TIIE EXPORT DUTIES ON THE PRECIOUS METAS. A writer in the “ Opinion NacionaP having argued that by relieving mining from the old taxes, by which 25 percent, in value of the products were paid to the government, the public treasury would suffer a loss of $1,250,000 annually, Mr. Castillo replies by a letter, from which the fol¬ lowing extracts are taken. 1 Mr. Castillo is sure that the treasury will not suffer by the removal of this great tax; on the contrary, its removal will benefit the public treas¬ ury by acting as a stimulus to all kinds of industry. He says: “ It is evident that the export of the ores of gold and silver will tend to promote their production, which will encourage other industries bene¬ ficial to every country. The wealth of our mines does not depend upon the richness, but upon the abundance of the ore, as we see in the Rosa¬ rio mine at Paohiiea, where the ore only pays 12 ounces of silver to three quintals, (15 marks to 30 quintals, as the average,) or $1 j>er arroba. “This being so, could the Real del Monte send its ores to Vera Cruz, and thence to Europe, with a profit, when the cost of land transportation is $1 per arroba, which is more than the ore is worth? It is absurd to think of it. This reasoning is equally applicable to mines far in the interior. “Neither is there danger of diminution in the yield of mines near the sea coast, for it certainly would not pay to have the ore smelted abroad. “The lessees of the mints must have originated this opposition to the free export of ores and metals in bars, for fear of losing the profits allowed them by the government for coining, as well as the other advantages not generally known. “ This act of Congress allowing the free export of the precious metals in every form has increased the non-productive mineral wealth of our country. There are certain ores of gold and silver on our Pacific coast that have resisted our simple method of reduction and amalgamation, and they will ever remain useless to us, unless we encourage the introduction of the more perfect methods of reduction used in Europe, or allow these ores a free exit. Their usual yield is one mark of silver to three quintals of ore; and as they contain a small quantity of gold, and often of lead and antimony, they might pay for exporting. The working of such mines would occupy an immense number of hands now unemployed. These miners would consume the land produce, and use the goods brought in 1 El Siglio, XIX : Mexico, November 21, 1868. REPORT ON THE PRECIOUS METALS. 327 by commerce; new roads would be opened, and new modes of transpor¬ tation by rivers would be effected; all to the great advantage of the country. “The prosperity of Mexico depends upon the prosperity of the mines, which encourage agriculture and stimulate foreign and domestic com¬ merce. “ The only question to solve, for the encouragement of mining, is em¬ braced in the principle of political economy: Liberty to mining industry .” CALIFORNIA. TREASURE EXPORTS. According to the commercial statistics of the first three-quarters of the year 1868, 1 the total exports of gold bars, silver bars, and gold coin, for the first nine months of 1868 were as follows: Gold bars. $14,762,912 Silver bars. 8,243,718 Gold coin. 1,572,268 Total 24,582,634 The total includes $3,735 of foreign gold coin, $1,500 Mexican dollars, $5,000 of silver, and $6,135 of dust. The amount and destination of the exports, compared with the like period in 1867, are as follows: To— 1867. 1868. $7,153, 465 07 723, 450 97 531, 044 55 4, 426, 431 31 1, 453, 659 76 53,969 18 26, 000 00 17, 311,315 77 8, 300 00 500 00 50, 000 00 $3, 978, 009 65 Chili. . Central American ports ______ 533, 200 00 4, 639, 459 90 941, 553 47 352, 459 46 8, 000 00 18, 460, 421 30 50, 000 00 "Engl and . _ _________ France ______ Mexico . ___..... New York __ __ __ _ _____ Sandwich islands ...... Society islands ...... Vancouver island , . _ __ ____............. 95, 000 00 Total _____ 31, 738,136 61 5, 993, 704 00 29, 058,103 78 6, 560,729 95 Add duties..... "Dp.o.rp.age 1 Rfift _____ 37, 731, 840 61 35, 618, 833 73 2,113, 006 88 1 Published in the Alta California newspaper, San Francisco, October 14, 1868. This paper, the Commercial Review, and other journals on the Pacific coast, devote great attention and care to the collection and publication, at regular intervals, of valuable commercial and mining statistics, without which very little would be known of the production and movement of the precious metals in the United States. 328 PARIS UNIVERSAL EXPOSITION. RECEIPTS OF TREASURE. Tin* receipts of treasure from the interior of California, including’ the bullion from the State of Nevada, were as follows, the receipts for the period of nine months in 1807 and 1808 being* compared: Miues. 1867. 1868. Uncoined. Coined. Total. Uncoined. Coined. Total. Northern. Southern. $29, 528, 876 2,328, 834 $2, 444, 998 959, 519 $31,973, 874 3, 288, 353 $27, 362, 923 2,220, 639 $3,199, 111 1,236, 080 $30, 562, 034 3, 456, 719 Total. Decrease 1868 31,857,710 3, 404, 517 35, 262, 227 29, 583, 562 4, 435, 191 34,018. 753 1, 243, 474 RECAPITULATION. Sources. 1867. 1868. Import h....... $1, 665, 306 4, 479, 556 35, 262, 227 $1,636, 636 2,414,416 34, 018, 753 Coastwise receipts. Interior........ Total.. 41,407, 089 38, 069, 805 3,337,284 Decrease 1868 ........... The receipts from coastwise ports and Victoria (V. I.) for the period in the two years, 1807 and 1808, were: Condition. 1867. 1868. Uncoined........ $4,150, 340 329,216 $1,735, 654 678, 762 Total....... 4,479, 556 2,414,416 2, 065,140 Decrease 1868. The imports of treasure (exclusive of those from Victoria, which are included in the receipts from coastwise ports) for the nine months ending September 30, 1807 and 1868, respectively, were as follows: Country. 1867. 1868. $4,164 00 1,627,271 50 800 00 Mexico. $1,565, 113 53 67, 244 25 30, 447 91 2, 500 00 Panama.. Saudwich islands..... 4,400 00 Society islands. Total. 1,665,305 69 1, 636, 635 50 28,670 19 Decrease 1868. PRODUCTION OF GOLD UP TO APRIL, 1851. According to an estimate given in the San Francisco Herald, and quoted in the London Times, May 19,1851, the production of gold in the REPORT ON THE PRECIOUS METALS. 329 State from the 1st of April, 1849, to the 31st of December, 1850, was $68,587,591. The custom-house records for this period, it will be remem¬ bered, were burned, and these figures thus have a peculiar value. From the 1st of January to the 31st March, 1851, the first quarter, it is stated that the shipments were: Date. In hands of passengers. Consigned. In January__________ $1,042, 000 706, 890 702, 800 $2, 929, 888 2,278,925 3, 028, 631 In February______ In March___________ Adding amount in hands of passengers 2,451, 600 8,237,542 2, 451, 600 It is estimated that for the same period gold was sent overland to the amount of. Shipped by merchants..... 10, 689,142 3, 967, 000 $1, 000, 000 450, 000 1, 000, 000 1, 517, 000 In miners’, merchants’, and brokers’ hands. In jewelery and stamped bullion. Total. $14,656,142 The value in the above estimates was computed at $16 per ounce troy, but the mint value was $1 60 more. By adding this, the estimated amount for the first quarter of 1851 is carried to over $16,000,000. NEVADA. Dining the summer of 1868, remarkably rich deposits of silver ore have been found in the White Pine district, about 120 miles easterly from Austin. Large masses, consisting chiefly of chloride of silver, have been taken out, and it is expected that the region will soon produce large amounts of silver. BORNEO. The exports of gold from the port of Sarawak, Borneo, for five years ending in 1867, were as follows, according to the British consular returns for 1868: 1863 . $5,220 1864 . 9,480 1865 . 5,394 1866 . 2,250 1867..... 6,998 APPENDIX B. RELATIVE VALUES OF GOLD AND SILVER. From statements by Pliny it appears that in the Roman coins the value of gold to silver was as 5,760 to 336, or as 17| to 1; but this was not the relative value in bullion, which appears to have been as 14JJ to 1. This ratio did not long continue. About 189 B. C. the Romans coincided with the Greeks in estimating the value of gold compared with silver as 10 to 1. Upon Cseser’s return to Rome with the spoils of war, gold became so abundant that its value, compared with silver, fell to the ratio of 750 to 100, or 7£ to 1. This, however, was a transient depression in the value of gold, for, in the time of Claudius, about a century later, the value of gold had advanced so that its ratio to silver became as 1 2£ to 1. This ratio appears to have been preserved through the reigns of Nero and Galba, and during the interval between Galba and Alexander Severus, or more than 150 years. Under Constantine the Great the value of gold had receded, as com¬ pared with silver, to the ratio of 10£ to 1; but 60 years after Constantine the value had increased to 14 J to 1. In a statement by Herodotus of the revenues of Darius, the son of 11 ystaspes, he proceeds upon the supposition that the value of gold to silver was as 13 to 1. It is supposed that the value of gold did not long continue to be so high in Greece, for Plato, 50 years after Herodotus, asserted the ratio to be as 12 to 1. Gold had at that time a lower value in Persia than in Greece. The ratio in Persia appears to have been as 11§ to 1. Gold afterwards became so plentiful in Greece that its value was esti¬ mated, compared with silver, as 10 to 1. This was about 341 years B. C. It is supposed that the value of gold, compared with silver, con¬ tinued to be as 10 to 1 for 170 years after the death of Alexander. "When guineas were first coined in 1663 the value of fine gold, com¬ pared with that of fine silver, was rated in the English mint at 14f-|^ to 1. Guineas were then coined as 20 shilling pieces, but were afterwards made current as 21 shilling pieces. In 1805 the relative value of fine gold to fine silver was as 15 T 2 3 *: 5 4 % to 1, and in mints of several other countries it was rated still higher. 1 1 Tide “A Treatise on the Coins of the Realm,” in a letter to the King. By Charles, Earl of Liverpool: Oxford, 1805. 4to. REPORT ON THE PRECIOUS METALS. 331 The following tabular statements show the ratio or value of gold to silver at different periods down to the present time: RELATIVE VALUES OF GOLD AND SILVER AT DIFFERENT PERIODS. Period. Gold. Silver. Henry III.—41st year.. 9 T 5 i- to 1 Edward III.—18th year, commencement of gold coinage. 12LffA4- to 1 Edward III.—18th year, July 9. IIvsWs to 1 Edward III.—20th year. ii_yy^ to l Edward III.—27th year. lli|i to 1 Henry IY.—13th year, silver coin debased. lOi-fv to 1 Edward IY.—4th year. lli|i. to 1 Henry YIII. 11^ 9 0 to 1 Elizabeth, (old standard).. lOfivT to 1 Elizabeth, (new standard). lOfLi- to 1 James I.—2d and 3d years, (old standard). 12 5 8 9 vx to 1 James I.—2d and 3d years, (new standard). to 1 James I.—9th year. 131.0739 to 1 James I.—9th year. I3|.ij. to 1 James I.—17th year. 13f£ff to 1 James I.—17th year. l&Br to 1 Hunt’s Merchants’ Magazine for August, 1863, contains the following table, which covers a portion of the period given above, and shows the relative value of gold to silver at various periods from 1344 to 1863, as indicated by the prices paid by the mint in London: 1344. 12.475 to 1 1349. 11.141 to 1 1356. 11.286 to 1 1401. 11.350 to 1 1421. 10.527 to 1 1464 . 10.331 to 1 1465 . 11.983 to 1 1470. 11.446 to 1 1482. 11.429 to 1 1509. 11.400 to 1 1527 . 11.455 to 1 1543. 12.000 to 1 1545 . 10.714 to 1 1546 . 10.000 to 1 1547 . 11.400 to 1 1549. 11.250 to 1 1552 . 11.186 to 1 1553 . 11.198 to 1 1560. 11.315 to 1 1600 . 11.100 to 1 1604. 12.109 to 1 1626. 13.431 to 1 1666. 14.485 to 1 1717 . 15.209 to 1 1816. 15.209 to 1 1849. 15.632 to 1 1852. 15.371 to 1 1863. 15.069 to 1 Mr. E. B. Elliott, of Washington city, has kindly furnished the follow¬ ing data on this interesting subject to Commissioner Browne. The annexed tabular statement has been prepared by him with great care, and differs in some respects from that of the Merchants’ Magazine: PARIS UNIVERSAL EXPOSITION. 332 Ratio* of the market value of gold to silver , in London, for the Id years from 1760 to 1829, inclusive , and the 26 years from 1841 to 1866, inclusive —in all , 96 years. Prior to the opening of the gold mines of California and Australia. 1760 to 1789 (30 years). 14.50 to 1' 1790 to 1809 (20 years). 14.90 to 1 1810 to 1819 (10 years). 175.50 to 1 1820 to 1829 (10 years). 15.80 to 1 1830 to 1840 (11 years). 1841 to 1848 (8 years). 15.83 to 1 3 Discovery of gold fields in California, 1848. 1849 to 1852 (4 years). 15.60 to 1—Transition period. 1853 to 1858 (6 years). 15.34 to 1 ' 1859 to 1862 (4 years).15.34 to 1 1863 to 1864 (2 years). 15.37 to 1 1865 to 1866 (2 years). 15.46 to 1 Since the opening of Cali¬ fornia and Australian gold fields, average 15.38 to 1. Simplest, and probably most convenient, mint ratio of gold to silver, 15 to 1; present United States mint ratio of gold to fractional silver, 14.88 to 1; United States mint- ratio of gold to silver dollar, (circulation limited because overvalued,) 16 to 1; British mint ratio of gold to silver, 14.28 to 1; French mint ratio of gold to silver 5-franc piece, (circulation limited because undervalued,) 15.5 to 1; French mint ratio, gold to debased smaller silver coinage, 14.38 to 1. The ratios since 1859 were deduced from the semi monthly quotations of the price per ounce of silver bars in London, published from time to time in the journal of the Statistical Society of London. From 1841 to 1848 the values adopted were computed from data furnished by Mr. William Newmarcli in a valuable paper read by him before the London Statistical Society and published in the journal of that society. From 1760 to 1829, inclusive, the values were taken from the funding system of Mr. Jonathan Elliott, which forms part of the executive documents of the second session of the 28th Congress. For the 11 years, 1830 to 1840, inclusive, there is a lapse in the information furnished; but it is deemed safe to assume the ratio for this period as 15.8, the ratio of the periods just prior and subsequent to the interval. It will be observed that with the discovery and working of the Cali¬ fornia and Australian gold fields the relative value of gold to silver fell from an average of 15J for the eight years 1841-’48, just prior to this event, to an average of 15| for the 14 years 1853-66, which followed the transition period of four years 1849-52. APPENDIX C, RULES FOR CALCULATION OF ALLOYS AND VALUES. RULES FOR THE PREPARATION OF ALLOYS OF A GIVEN FINENESS. Manufacturers of silverware may obtain an alloy of silver of any desired fineness in melting fine silver with silver of an inferior quality by observing the following rule : l Obtain the difference between the two higher finenesses, and divide by the difference between the two lower; the quotient indicates the num¬ ber of ounces of the silver to be raised in fineness, which are required to be added to one ounce of fine silver. Example. —Required to raise a quantity of silver of the fineness of twoo to t 9 o°o°o by the mixture with it of fine silver at y^ 9 ^. Difference between the two higher finenesses . Difference between the two lower finenesses 99 4-33 = 3. From this it appears that one ounce of fine silver at T 9 oVo raise the fineness of three ounces of silver at , so that the compound will consist of four ounces at y 9 ^ 0 ^ MODE OF VALUATION. ' According to law, the standard gold of the United States consists in 1000 parts by weight, of 900 of pure gold and 100 of an alloy composed of copper and silver. Three hundred and eighty-seven ounces of pure gold are worth $8,000, and 99 ounces of pure silver are worth $128. These relations furnish the following proportions, from which are readily derived the subjoined rules: For gold. —As 1000 : or as 99,000 :128:: the given weight multi¬ plied by its particular fineness in thousandths : the value of said weight. For silver .—As 1000 : -L 2 * ^, or as 387 : 8 :: the given weight multiplied by its particular fineness in thousandths : the value of said weight. RULES. To find the value in United States money of any number of troy ounces of gold or silver, the weight and fineness being given: For gold. —Multiply the given weight by the fineness and by 8, and divide the product by 387. For silver. —Multiply the given weight by the fineness and by 128, and divide the product by 99,000. 1 This aud the following rules ave extracted by special permission from the “ Bullion Dealers’ Guide,” by George W. Edelman, which contains many valuable tables useful to dealers in the precious metals. 334 PARIS UNIVERSAL EXPOSITION. SHOUT METHODS OF CALCULATION. FOR GOLD. 1. TO CONVERT WEIGHT INTO VALUE. Multiply the weight by double the fineness, add to the product 3 ^- thereof, plus of the 3 L, the answer will lx* in cents. Example .—What is the value of 1,258 ounces at 774 thousandths? 1258x1548 = 19473.84 T V 649.128 lio 5.032 Answer: $20,128.00 By this rule the value of one ounce of gold, of any fineness, may be readily determined. Example .—What is the value of 1 ounce at 658£ thousandths? 6584 X 2 = 1317. 43.9 .34 Answer: $13.6124 The division by 129 being somewhat difficult, it will be found suffi¬ ciently accurate, in most cases, to divide by 130. 2. TO CONVERT VALUE INTO STANDARD WEIGHT. Divide the value in dollars by 20 , this quotient by 20 , and the second quotient by 2 , add the three quotients togetherj the answer will be in standard ounces. Example .—Wliat is the weight in standard ounces of $154,686 56? 20) 154086.56 20) 7734.328 2) 386.7164 193.3582 Answer: 8314.4026 ounces. rOR SILVER. 1. TO CONVERT WEIGHT INTO DOLLAR VALUE. Add to the weight in standard ounces -A- thereof, plus the T * 0 of the ; the answer will be in dollars. Example .—What is the value of 1268.30 standard ounces? 1268.30 1 1 j of - 1 - 10 11 115.30 92.24 Answer: $1475.84 REPORT ON THE PRECIOUS METALS. 335 2. TO CONVERT DOLLAR VALUE INTO STANDARD OUNCES. Subtract from tbe value £ thereof, plus £ of this quotient 5 the answer will be in standard ounces. Example .—What is the weight of $1475 84! $1475.84 £ 184.48 l 23.06 207.54 Ansiver : 1268.30 standard ounces. APPENDIX D. TABLES OF DEPOSITS, COINAGE. EXPORTATION, AND PRODUCTION OF THE PRECIOUS METALS. TABLE I —DEPOSITS OF GOLD AND SILVER. Statement of deposits of gold and silver at the mint of the United States , the branch mint , San Francisco , assay office, New Yorh , and branch mint , Den ver , during the fiscal year ending June 30, 1868. 1 Description of bullion. a 6 * » 2 £ 2* CS © 35 ■§ IS B CS go GOLD. Fine bars... Unparted bars. United States bullion .. United States coin. Jewellers’ bars. Foreign coin. Foreign bullion.* $2,142,337 12 1, 300, 338 53 95, 452 90 157,418 38 14, 789 73 332,711 97 Total gold SILVER. 4, 043, 048 63 $8, 693, 399 01 6, 156, 718 83 73,098 15 56, 342 53 14, 979, 558 52 Bars.. United States bullion .. United States coin- Jewellers’ bars. . .. Foreign coin. Foreign bullion.. Total silver $219, 727 08 67, 700 78 7, 587 81 26, 520 77 17, 9U7 72 3, 191 56 $397,341 00 258, 898 05 342. 635 72 53,671 87 8, 956 74 713, 867 66 O £ s ° >> ce $5, 409, 996 55 54, 074 20 269, 598 30 25, 127 27 333, 556 24 6, 092, 352 56 $262, 312 96 99, 935 77 85, 807 05 142,215 87 41,566 18 ► fl « CQ $357,935 11 357,935 11 $5, 082 67 631,837 83 5, 082 67 Total gold aud silver ... $4, 385, 684 35 , $15, 693, 426 18 $6, 724, 190 39 $363, 017 78 Less re-deposits at different institutions: gold, $2,355,128 38; silver, $219,864 48 .. Total deposits.. $10,835,736 13 13, 224, 989 02 149, 527 10 427, 016 68 113,015 15 722, 610 74 25, 472, 894 82 $617,068 08 588, 994 46 107, 523 58 112,327 82 213, 795 46 53, 714 48 1,693,423 88 $27,166,318 70 2, 574, 992 86 $24, 591, 325 84 1 From the annual report of the director of the United States mint. TABLE II.—COINAGE AT THE UNITED STATES MINTS Statement of the coinage at the mint of the United States , the branch mint , San Francisco , assay office , Yor7c, and branch minty Delivery during the fiscal year ending June 30, 186S. 1 to to Q Denomination. United States mint, Philadelphia. Branch mint, San Francisco. Assay office, New York. Branch mint, Denver. Total. Pieces. Value. Pieces. Value. Value. Value. Pieces. Value. GOLD. Double eagles. Eagles. . Half eagles. Three dollars. Quarter eagles. Dollars. Fine bars. 188, 540 3, 050 5, 750 4, 900 3, 650 10, 550 151 $3, 770, 800 00 30, 500 00 28, 750 00 14, 700 00 9,125 00 10, 550 00 98, 843 03 696, 750 12, 500 25, 000 $13,935, 000 125, 000 125, 000 885, 290 15, 550 30, 750 4, 900 29, 650 10,550 $17, 705,800 00 155, 500 00 153, 750 00 14,700 00 74,125 00 10,550 00 5, 665, 930 80 360, 879 26 26, 000 65,000 $5, 567, 082 77 $360, 879 26 Total gold. SILVER. Dollars. Half dollars. Quarter dollars. Dimes. Half dimes. Three-cent pieees. Bars. Total silver.-. 216, 591 3, 963, 273 03 760, 250 14, 250, 000 5, 567, 082 77 360, 879 26 976, 690 24,141, 235 06 54, 800 411,500 29, 900 423,150 85, 800 4, 000 83 54, 800 00 205, 750 00 7, 475 00 42, 315 00 4, 290 00 120 00 6, 729 94 54, 800 1, 893, 500 149, 900 733,150 485,800 4, 000 54,800 00 946, 750 00 37, 475 00 73,315 00 24, 290 00 120 00 456,236 48 1, 482, 000 120, 000 310, 000 400, 000 741, 000 30, 000 31, 000 20, 000 449, 506 54 1,009,233 321,479 94 2, 312,000 822, 000 449, 506 54 3, 321,150 1,592,986 48 1 From the Report of the Director of the United States Mint. REPORT ON THE PRECIOUS METALS. 337 Table II—Continued. Denomination. United States mint, Philadelphia. Branch mint, San Francisco. Assay office, New York. Branch mint, _ . , Total. Denver. Pieces. Value. Pieces. Value. Value. Value, Pieces. Vulue. corncR. 28, 002, 000 3, 613, 000 3, 066, 500 9, 856, 500 1,445,100 00 $108, 390 00 61,330 00 98, 565 00 28, 902, 000 3, 613, 00G 3, 066, 500 9, 856, 500 1, 445,100 00 $108,390 00 £ 61,330 00 ~ 98, 565 00 rjj r* 45, 438, 000 1, 713, 385 45, 438, 000 4 1, 713 385 00 ^ Totnl coinage. 46, 663, 874 $5, 998, 137 94 3, 072, 250 $15,072, 000 $6,016,589 31 $360, 879 26 49,735, 840 K $27, 447, 606 54 ~ IZi PARIS UNIVERSAL EXPOSITION. TABLE III.—DEPOSITS OF GOLD OF DOMESTIC PRODUCTION Summary exhibit of the entire deposits of domestic gold at the mint of the United States and branches to June 30, 1868. Mint. Parted from silver. Virginia. N. Carolina. S. Carolina. Georgia. Alabama. Tennessee. Utah Terri¬ tory. Nebraska. Colorado Ter¬ ritory. California. Philadelphia. $113, 399 08 3, 262, 716 03 $1,567,910 19 $4, 666, 026 38 $542, 667 26 $2,541,409 38 $55, 627 19 $36, 403 88 $4, 327 11 $5, 876 08 $5, 920, 560 93 60,152 00 3, 437 20 $230, 961,430 12 205, 857, 784 00 22, 265, 240 89 87,321 01 1,136,016 69 144, 372, 812 38 San Francisco_ New Orleans. 741 00 4, 520, 730 79 99, 585 19 147, 755 95 16,217 00 460, 523 34 311,242 81 25, 821 03 41,241 00 77, 943 53 2, 883 12 Charlotte. Dahlonega. 4, 310, 459 61 159, 894 64 59, 629 92 9,124 62 42,119 75 273 64 145 14 83,197 30 35, 345 84 7, 017, 720 04 1, 426, 056 18 N. Y. assay office.. Denver. 432,189 40 23, 683 92 Total.. 3, 808, 844 51 1,591,594 11 9, 434, 839 31 1,356,471 44 7, 053, 004 63 202, 325 26 81, 680 39 87, 669 55 5, 876 08 14, 463, 272 19 604, 680, 605 09 Mint. Montana Ter¬ ritory. Arizona Ter¬ ritory. New Mexico Territory. Oregon. Nevada. Washington Territory. Dakota Ter¬ ritory. Vermont. Idaho Terri¬ tory. Other sources. Total. Philadelphia. $4, 976, 001 78 1, 397,190 76 $7, 883 29 151, 858 29 $74, 083 47 $184,474 19 9, 303, 075 99 $3, 383 64 159, 238 93 $26,127 56 35,132 94 $2,198 88 5,760 00 $2, 889, 594 98 10, 625, 727 29 $44, 515 50 19, 672, 293 90 7, 290 00 $254, 624, 440 88 250, 530, 930 13 22, 414, 993 74 5, 068, 575 14 5, 995, 495 95 164, 335,112 55 1,677,366 76 San Francisco. New Orleans. Charlotte. Dahlonega. 951 00 644,125 00 N. Y. assay office.. Denver. 10, 684, 054 58 151, 506 06 23, 618 25 339 48 48, 676 51 56, 479 46 8, 073 05 47, 917 36 $1, 512 66 556, 255 81 91,391 99 Total._ 17, 208, 753 18 183, 699 31 122, 759 98 9, 552,102 69 210, 539 93 61, 260 49 7, 958 88 1, 512 66 14,162, 970 07 20, 369,175 40 704, 646, 915 15 Co O0 REPORT ON THE PRECIOUS METALS. TABLE IV.—DEPOSITS AND COINAGE OF SILVER OF DOMESTIC PRODUCTION. Statement of the amount of silver of domestic production deposited at the mint of the United States and branches from January , 1841 , to June 30 , 1808 . Year. Parted from gold. Oregon. Arizonn Territory. Nevada. Lake Su¬ perior. Idaho Ter¬ ritory. Georgia. California. Montana Territory. N. Mexico Territory & Sonora. North Caro¬ lina. Colorado Territory. Bars. Total. 1841 to 1851. 1852. $708, 509 00 404,494 00 417,297 00 328,199 00 333,053 00 321, 938 38 127, 250 12 300, 849 30 219, 047 34 138,501 70 304,724 73 245, 122 47 188, 394 94 100,791 55 251,757 87 271,888 51 265, 932 64 147,358 87 $708, 509 00 404,494 00 417, 297 (X) 328, 199 00 333, 053 00 321,938 38 127,256 12 316, 472 36 273, 107 47 293, 796 85 610,011 29 1,024,864 45 1,057, 549 53 487, 439 33 621, 824 82 893, 282 02 1,058,743 44 986,335 40 1853. 1854 . 1855 . 1850. 1857. 1858 . 1859 . $15 623 00 30,122 13 25, 880 58 13, 372 72 21, 366 38 13, 111 32 8, 765 77 13, 671 51 22, 913 96 18, 555 35 26, 595 72 $23, 398 00 12, 257 00 6, 233 00 1800. $13,357 00 12, 260 00 105 00 $102, 540 57 213, 420 84 757, 446 60 856, 043 27 311, 837 01 355, 910 42 540, 345 87 579,931 76 290, 415 51 $1,200 00 1801. 1802. $824 00 1803. . 1804. 45 00 25 84 1805. 459 18 453 00 310 25 9,196 94 1800. $1, 580 51 183 68 139 63 3, 212 26 6,711 29 $38, 859 49 160, 269 24 37, 602 56 $403 83 $419 00 7ft $16, 278 22 10, 709 00 397, 478 40 1807. $19, 095 48 23, 547 73 1868. 473 56 73 75 46,881 13 Total_ _ 5,201,770 48 1,764 19 35, 785 18 4,007,891 85 209, 978 44 236, 731 29 403 83 11, 243 37 42,643 21 1,744 40 i 41, 961 75 47, 843 91 424, 465 62 10. 324, 233 52 * Minnesota. 340 PARIS UNIVERSAL EXPOSITION. REPORT ON THE PRECIOUS METALS, 341 Table IV—Continued. Statement of silver coinage at mint of the United States and branches at San Francisco and New Orleans, under act of February 21, 1853. Year. 1853. 1854. 1855. 1856. 1857. 1858. 1859. 1860. 1861. 1862. 1863. 1864. 1865. 1866. 1867. 1868, United States mint, Philadelphia. Branch mint, San Francisco. Branch midt,N.Or- leans,to Jan.31,’61. Total. $7,806,461 00 $1,225,000 00 $9, 031,461 00 5, 340,130 00 3, 246, 000 00 8, 586,130 00 1, 393,170 00 $164, 075 00 1, 918, 000 00 3, 475, 245 00 3,150, 740 00 177,000 00 1, 744, 000 00 5, 071, 740 00 1,333, 000 00 50, 000 00 1, 383, 000 00 4, 970, 980 00 127, 750 00 2, 942, 000 00 8, 040. 730 00 2, 926,400 00 283, 500 00 2, 689, 000 00 5, 898, 900 00 519, 890 00 356, 500 00 1, 293, 000 00 2,169, 390 00 1, 433, 800 00 198, 000 00 414, 000 00 2, 045, 800 00 2,168, 941 50 641, 700 00 2,810, 641 50 326, 817 80 815, 875 00 1.142, 692 80 177, 544 10 347,500 00 525,044 10 278,279 66 474, 635 58 752, 915 24 399, 314 50 723, 292 64 1,122, 607 14 352, 871 00 780,048 54 1,132, 919 54 314,750 00 822, 000 00 1,136, 750 00 32, 893, 089 56 5, 961, 876 76 15, 471, 000 00 54, 325, 966 32 Total, 342 PA HIS UNIVERSAL EXPOSITION TAHLE V.—TOTAL COINAGE OF THE UNITED STATES MINT. Gold, silrer , and copper coinage at the mint of the United States in the screral gears from its establishment in 17 !)-; the coinage at the branch mints and the assay office, Xew York, from their organization to Jline 30 , 18 ( 18. 1 Y ears. Gold. Silver. Copper. Total. 1793 to 1795 . $71,485 00 $370, 683 80 $11,373 00 $453, 541 80 1796 . 102,727 50 79, 077 50 10,324 40 192,129 40 1797 . 103, 423 50 12, 591 45 9,510 34 125, 524 29 1798 . 205, 610 00 330,291 00 9, 797 00 545, 698 00 1799 . 213, 285 00 323, 515 00 9,106 68 645, 906 68 1800 . 317, 760 00 224,296 00 29,279 40 571,335 40 1, 014,290 00 1,440,454 75 . 79, 390 82 2, 534, 135 57 1801. $422,570 00 $74, 758 00 $13, 628 37 $510, 956 37 1802 . 423,310 00 58, 343 00 34, 422 83 516, 075 83 1803 . 258, 377 50 87,118 00 25, 203 03 370, 698 53 1804 . 258, 642 50 100, 340 50 12,844 94 371,827 94 1805 ... 170, 367 50 149, 388 50 13, 483 48 333, 239 48 1806 . 324, 505 00 471,319 00 5, 260 00 801,084 00 1807 . 437, 495 00 597, 448 75 9, 652 21 1, 044, 595 96 1808 . 284, 665 00 684, 300 00 13, 090 00 982, 055 00 1809 . 169, 375 00 707, 376 00 8,001 53 884,752 53 1810. 501, 435 00 638, 773 50 15, 660 00 1,155,868 50 3, 250, 742 50 3, 569,165 25 151,246 39 6,971,154 14 1811. §497, 905 00 $608, 340 00 $2, 495 95 $1,108, 740 95 1812. 290, 435 00 814, 029 50 10, 755 00 1,115,219 50 1813. 477,140 00 620,951 50 4, 180 00 1,102,271 50 1814. 77, 270 00 561,687 50 3, 578 30 642, 535 80 1815. 3,175 00 17, 308 00 20 483 00 1816. 28 575 75 28 209 82 56 785 57 1817. 607 783 50 39 484 00 647 267 50 1818. 242, 940 00 1,070,454 50 31,670 00 1,345,064 50 1819. 258, 615 00 1,140, 000 00 26, 710 00 1, 425, 325 00 1820 . 1, 319, 030 00 501, 680 70 44, 075 50 1, 664, 786 20 3, 166, 510 00 5, 970, 810 95 191,158 57 9, 328, 479 52 1821. $189, 325 00 $825, 762 45 $3, 890 00 $1, 018, 977 45 1822 . 88, 980 00 805, 806 50 20, 723 39 915, 509 89 1823 . 72, 425 00 895 550 00 967 975 00 1824 . 93, 200 00 1,752,477 00 12, 620 00 1, 858, 297 00 1825. 156, 385 00 1, 564, 583 00 14, 926 00 1,735,894 00 1826 . 92,245 00 2, 002, 090 00 16,344 25 3,110,679 25 1827 . 131, 565 00 2,869, 200 00 23, 577 32 3, 024, 342 32 1829 . 140,145 00 1, 575, 600 00 25, 636 24 1,741,381 24 1829 295, 717 50 1, 994, 578 00 16, 580 00 2, 306, 875 50 1830. 643,105 00 2, 495, 400 00 17, 115 00 3,155, 620 00 1, 903, 092 50 16, 781, 046 95 151,412 20 18,835,551 65 1 From the report of the Secretary of the Treasury, 1868, pp. 448, 449. REPORT ON THE PRECIOUS METALS. 343 Gold , silver , and copper coinage at the mint of the United States , dte.—Cont’d. Years. Gold. Silver. Copper. Total. 1831.'. $714, 270 00 $3,175,600 00 $33, 603 60 $3, 923, 473 60 1832 . 798, 435 00 2,579, 000 00 23, 620 00 3, 401, 065 00 1833 . 978, 550 00 3, 759, 000 00 28,160 00 3, 765, 710 00 1834 . 3, 954, 270 00 3, 415, 002 00 19,151 00 7, 388, 423 00 1835 . 2,186,175 00 3, 443, 003 00 39, 489 00 5, 668, 667 00 1836 . 4,135, 700 00 3, 606,100 00 23,100 00 7, 764, 900 00 1837 . 1,148,305 00 2, 096, 010 00 55, 583 00 3,299, 898 00 1838 . 1, 809, 595 00 2, 315, 250 00 63, 702 00 4,188, 547 00 1839 . 1, 375, 760 00 2, 098, 636 00 31, 286 61 3, 505, 682 00 1840. 1, 690, 802 00 1,712,178 00 24, 627 00 3, 427, 607 61 18,791,862 00 27,199,779 00 342, 322 21 46, 333, 963 21 1841. $1,102,107 50 $1,115, 875 00 $15, 973 67 $2, 233, 957 17 1842 . 1, 833,170 50 2,325, 750 00 23, 833 90 4,182, 754 40 1843 . 8,302,797 50 3, 722,260 00 24, 283 20 12, 049, 330 70 1844 . 5,428,230 00 2, 230, 550 00 23, 977 52 7, 687, 757 51 1845 . 3,756, 447 50 1, 873,200 00 38, 948 04 5, 668,595 54 1846 . 4, 034,176 57 2, 558,580 00 41, 208 00 6, 633,965 50 1847 . 20,221,385 00 2,374,450 00 61, 836 69 22, 657, 671 60 1848 . 3, 775, 512 50 2, 040, 050 00 64,157 99 5,879,720 49 1849 . 9, 007, 761 50 2,114,950 00 41,984 32 11,164, 695 82 1850 . 31,981,738 50 1,866,100 00 44,467 50 33, 392, 306 00 89,443, 328 00 22,226,755 00 380, 670 83 112,050, 753 83 1851.. $62, 614, 492 50 $774, 397 00 $99, 635 43 $63, 488, 524 93 1852 . 56, 846,187 50 999, 410 00 50, 630 94 57, 896, 228 44 1853 . 55, 213, 906 94 9, 077, 571 00 67, 059 78 64, 358, 537 72 1854 . 52, 094, 595 47 8, 619, 270 00 42, 638 35 60, 756, 503 82 1855 . 52, 795, 457 20 3, 501, 245 00 16, 030 79 56, 312, 732 99 1856 . 59, 343, 365 35 5,196, 670 17 27,106 78 64,567,142 30 1857, (Jan.l to June 30, inclusive) 25,183,138 68 1, 601, 644 46 63,510 46 26, 848,293 60 1858, fiscal year. 52, 889, 800 29 8, 233, 287 77 234, 000 00 61,357,088 06 1859, fiscal year. 30, 409, 953 70 6, 833, 621 47 307, 000 00 37, 550, 585 17 1860, fiscal year. 23, 447, 283 35 3, 250, 636 26 342, 000 00 27, 039, 919 61 470,838,180 98 48, 087, 763.13 . 1,249, 612 53 520,175, 556 64 1861. $80,708, 400 64 $2, 883, 706 94 $101, 660 00 $83, 693, 767 58 1862 . 61, 676, 576 55 3,231,081 51 116, 000 00 65,023, 658 06 1863 . 22, 645, 729 90 1, 564,297 22 478, 450 00 24, 688, 477 12 1864 . 23, 982,748 31 .850, 086 99 463, 800 00 25,296,635 30 1865 .!. 30,685,699 95 950,218 69 1,183, 330 00 32,819,248 64 1866 . 37, 429, 430 46 1, 596, 646 58 646, 570 00 39, 672, 647 04 1867 .. 39,838,878 82 1, 562, 694 18 1, 879,540 00 43,281,113 00 1866 . 24,141, 245 06 1, 592, 986 48 1,713,385 00 27,447,616 54 $321,108,709 69 $14,231,718 59 $6, 582,735 00 $341,923,157 28 l’ARIS UNIVERSAL EXPOSITION Q u (ruhl, silrrr, and copper co inn ye at the mint of the United States , dr .—Coil’d. RECAPITl LATION OF COINAGE FROM 1793 TO 1868, INCLUSIVE. Wars. Gold. Silver. Copper. . Total. 1793-1800, 8 years. $1, 014,290 00 $1, 440, 454 75 $79, 390 82 $2, 534, 135 57 1801-1810, 10 years. a, 250, 742 50 3, 569,105 25 151,246 39 6,971,154 14 1811-1800, 10 years. 3, 166, 510 00 5,970,810 95 191, 158 57 9,328, 479 52 1,903,092 50 16, 781,046 95 151,412 20 18, 835, 551 65 1831-1840, 10 years... 18, 791,862 00 27, 199, 779 00 342,322 21 46, 333, 963 21 1841-1850, 10 years. 89, 443, 328 00 22, 226,755 00 380, 670 83 112,050, 753 83 1851-1860. 9j years. 470,838,180 98 48, 087, 763 13 1,249,612 53 520,175, 556 64 1861-1868, 8 years. 321,108, 709 69 14,231,718 59 6, 582, 735 60 341,923,163 28 Total 75years.... $909, 516,715 67 $139, 507, 493 62 $9,128,548 55 $1,058,152,757 84 RECAPITULATION OF AVERAGES OF COINAGE FOR EACH DECADE FROM 1793 TO 1868, INCLUSIVE. 1793-1800, 8 years. $126, 786 25 $180, 056 84 $9, 923 85 $316,766 94 1801-1810,10 years. 325, 074 25 356, 916 52 15,124 64 697, 115 41 1811-1820,10 years. 316,651 00 597,081 09 19,115 86 932,847 95 1821-1830,10 years.. 190, 309 25 1,678, 104 69 15,141 22 1, 883, 555 16 1831-1840,10 years. 1,879,186 20 2, 719, 977 90 34, 232 22 4, 633,396 32 1841-1^50,10 years. 8,944, 332 80 2, 222, 675 50 38,067 08 11, 205, 075 38 1851-1860, 9$ years. 49,561,913 79 5, 061, 869 80 131,538 16 54,755,321 75 1861-1868, 8 years. 40,138,587 46 1,778,964 82 822,840 62 42, 740, 392 90 REPORT ON THE PRECIOUS METALS 345 TABLE YI.— IMPORTS AND EXPORTS OF COIN. Statement exhibiting the imports and exports of coin and bullion from the United States from 1821 to 1808, inclusive. 1 Years ended— Imports. Domestic ex¬ ports. Exports. Foreign re¬ exports. Total. $8, 064, 890 $10, 478, 059 $10, 478, 059 1822. 3, 369, 846 10, 810,180 10, 810,180 1823. 5, 097, 896 6, 372, 897 6, 372, 897 1824. 8,379, 835 7, 014, 552 7, 014, 552 1825. 6,150, 765 8, 797, 055 8, 797, 055 1826. 6, 880, 966 $605, 855 4, 098, 678 4, 704, 533 1827. 8,151,130 1, 043, 574 6, 971, 306 8, 014, 880 1828. 8, 489, 741 693, 037 7, 550, 439 8, 243, 746 J829. 7, 403, 612 612, 886 4, 311,134 4, 924, 020 1830. 8,355, 964 937,151 1,241,622 2,178, 773 1831. 7, 365, 945 2, 058, 474 6, 956, 457 9, 014, 931 1832. 5, 907, 504 1,410, 941 4, 245, 399 5, 656, 340 1833. 7, 070, 368 366, 842 2, 244, 859 2,611,701 1834. 17, 911, 632 400, 500 1, 676, 258 2, 076, 758 1835. 13,131, 447 729, 601 5, 748,174 6, 477, 775 1836. 13, 400, 881 345, 738 3, 978, 598 4, 324, 336 3 837. 10, 516, 414 1, 283, 519 4, 692, 730 5, 976, 249 1838. 17, 747,116 472, 941 3, 035,105 3, 508, 046 1839. 5, 595,176 1,908, 358 6, 868, 385 8, 776, 743 1840. 8, 882, 813 2, 235, 073 6,181, 941 8,417, 014 3841. 4, 988, 633 2, 746, 486 7,287, 846 10, 034, 332 1842. 4, 087, 016 1,170, 754 3, 642, 785 4,813, 539 Nine months to June 30 1843. 22, 390, 559 107, 429 1, 413, 362 1, 520, 791 June 30, 1844. 5, 830, 429 183, 405 5, 270, 809 5, 454, 214 1845. 4, 070, 242 844, 446 7, 762, 049 8, 606, 495 1846. 3, 777, 732 423, 851 3,481,417 3, 905, 268 1847. 24,121, 289 62, 620 1, 844, 404 1,907, 024 1848. 6, 360, 284 2, 700,412 13,141, 204 15, 841,616 1849. 6, 651, 240 956, 874 4, 447, 774 5, 404, 648 1850. 4, 628, 792 2, 046, 679 5, 476, 315 7, 522, 994 1851. 5, 453, 592 18, 069, 580 11, 403,172 29, 472, 752 1852. 5, 505, 044 37, 437, 837 5, 236, 298 42, 674,135 1853. 4, 201, 382 23, 548, 535 3, 938, 340 27, 486, 875 1854. 6, 939, 342 38, 062, 570 3, 218, 934 41,218, 504 2855. 3, 659, 812 53, 957, 418 2, 289, 925 56, 247, 343 1856. 4, 207, 632 44,148,279 1, 597, 206 45, 745, 485 1857. 12, 461, 799 60, 078, 352 9, 058, 570 69,136, 922 1858. 19, 274, 496 42, 407, 246 10, 225, 901 52, 633,147 2859*. 7, 434, 789 57, 502, 305 6, 385,106 63, 887, 411 1860*. 8, 550,135 56, 946, 851 9, 599, 388 66, 546, 239 1861*. 46, 339, 611 23, 799, 870 5, 991,210 29, 791, 080 1862*. 16,415,052 31, 044, 651 5, 842, 305 36, 886, 956 1863*. 9, 584,105 55, 993, 562 8,163, 049 64,156, 611 1864*. 13, 115, 612 100,321, 371 4, 922, 979 105, 244, 350 1865*. 9, 810, 072 64,618,124 3, 025,102 67, 643, 226 1866*. 10, 700, 092 82, 643, 374 3, 400, 697 86, 044, 071 1867*. 22, 070, 475 54, 976,196 5, 892,176 60, 868, 372 1868*. 13, 702, 928 83, 746,161 10,038,127 93,784,288 * From the manuscript records. 1 From the Report of the Secretary of the Treasury—Finanoe Report— 1868, p. 405, o .) 4G PARIS UNIVERSAL EXPOSITION. TAHLE VII. — EXPORTS OF GOLD AND SILVER Confuted real value of the registered exports of gold and silver Countries to which exported. ■Russia. Denmark. Prussia. Ilanse towns. Holland. Belgium. France. Portugal, Azores, and Maderia. Spain and Canaries. Gibraltar.. Malta. Turkey.. Egypt. British Possessions in S. Africa Mauritius. East Indies. British settlements, Australia.. British North America. Danish West Indies. Spanish West Indies. United States. Mexico . Central Ameriea. New Granada. Brazil. Other countries. Total of gold and 1853. 1854. £25. 309 Total 2, 382, 088 1,164, 097 1, 780, 042 5, 818, 563 549, 077 28, 730 21, 392 48, 479 5,417, 055 3, 547 100, 169 536,107 942, 955 6,150 21,836 961 £2, 041,410 906,147 791,886 13, 666, 907 365, 024 2, 510 309,127 1,507 640,157 3, 754, 373 15, 064 26, 352 305 15 , 688 12, 982 1855. 12, 869 £23, 295 33, 097 5, 020 922, 797 86, 665 323, 498 10, 524, 090 377, 224 1,647 226, 495 389 110, 037 6, 072,411 1,040 9,157 19, 608 148 1,033 2, 230 1856. 35, 036 25, 160 2, 044 22, 216 57, 445 30, 852 £26, 342 5,283 935 997, 783 178, 832 1,057, 165 10, 468, 294 148, 254 1, 004 128, 576 1,752 118,461 11, 220, 932 155, 840 55, 047 4, 806 5, 000 36, 438 96, 227 1857. £5, 517 935, 886 38, 033 333, 152 11,188, 329 251,105 50, 743 425, 314 29,203 1858. 18,906,753 22,586,568 J 18,828,178 95, 440 49, 430 24,851,797 17, 601,428 118,097 55, 541 1,168 72 52, 421 375, 963 175, 207 859,110 £658, 659 682, 021 228,169 10, 920, 647 127,067 60, 307 2, 654 653, 802 5, 220, 136 67, 022 132, 985 14, 751 1,012,915 43,013 395 6, 690 204,417 2, 079 202, 567 33,566,968 5, 572 415, 795 37, 892 19,628,876 1 From “ Statistical Abstract for the United Kingdom,” 1853-1867, p. 84. REPOET ON THE PRECIOUS METALS. 347 BULLION FROM THE UNITED KINGDOM. bullion and specie from the United Kingdom to various countries. 1 silver bullion and specie. 1859. £122,287 5,712 1,581 1,280,215 346,623 257, 429 15,384, 371 395, 567 346, 352 109, 946 3,054 16, 616,531 12,478 1,392 1860. £1,573 1861. 397,379 134, 913 211, 415 11, 315, 346 602, 476 756, 064 144, 906 51,001 109 9,426,122 50, 619 £333, 968 348, 680 192, 375 2, 051, 041 337, 562 650, 246 53,014 50, 000 494 8, 076, 334 143, 464 2, 033 1862. 1863. £1,855.501 243, 996 425, 040 334, 420 7,205, 663 970, 267 1, 398, 078 105, 470 389 2,029,121 12, 629,830 £2,707,857 164, 227 1, 462, 925 221, 356 211, 305 4, 760, 984 638, 755 1,058,826 52, 695 184,781 35, 534 12, 289, 430 165, 967 103, 218 1864. 1865. £289 107, 734 248, 995 543, 211 265, 297 9, 921, 524 202, 029 1, 412, 724 4, 594 110, 482 33 8,368,122 135,417 £21, 792 565, 400 1, 027, 497 617, 982 4,962,865 82,415 1, 412,408 30, 021 303 4, 388, 522 19, 469 1866. £8, 597 100, 292 727, 281 1, 591,269 1, 362, 894 1,223, 965 10,555, 361 108, 519 158, 007 6,096 2,995, 871 4, 867 1867. £34, 503 17, 400 14, 250 1,281,062 1,219,231 1,150, 030 8,224, 648 62,300 295, 533 3, 075 145, 727 889, 334 70, 719 103 26,248 143, 070 6,628 14,342 29, 720 9, 000 50,170 41 1, 727, 220 168, 491 197, 062 249, 321 123 12, 437 524, 312 89,819 645, 944 91, 643 110,489 7,381,953 873 647 20,823 169,813 150,252 302,121 184, 464 18,864 37; 528 14, 999 416, 094 541,144 452, 392 169, 910 21, 382 131, 747 53, 608 95, 434 54,195 122, 472 10, 870 30, 712 1,731,037 234, 723 8,385 200, 621 126, 708 57, 527 189, 731 12, 834 2, 409 25, 439 1,069, 650 118,545 41,202 83, 394 210 24,772 65,918 46, 483 190, 336 40, 689 1, 015,070 3,046 51 1,376, 671 368,586 713 7, 063 1,033,909 461, 329 18, 360 96, 052 41, 639 27, 434 63, 679 399 20,104 401,761 247,277 35,688, 803 25, 534, 768 20, 811, 648 29,326,191 26, 544, 040 23,132, 300 15, 092, 524 21, 638, 611 14, 324, 517 PARIS UNIVERSAL EXPOSITION TABLE VIII.—IMPORTS AND EXPORTS OF PRECIOUS METALS—FRANCE. Yfthi(‘ of t/old coin imported into and entered for home consumption in Fra nee, and the value thereof exported from France , distinguishing French produce . 3 Years. Total imports. For home con¬ sumption. Total exports. French pro¬ duce. 1850 . £1, 251, 396 £1,251,276 £502,128 £499, 668 1851 . 3, 744, 432 3, 743,412 675, 433 673,416 1852 . 1,671,156 1, 597, 860 1,281,192 1, 253,268 1853 . 2, 274,228 2, 302,188 973, 968 971, 772 1854 . 4,495,716 4, 500,192 2,238, 960 2, 238,840 1855 . 4, 306, 884 4, 245, 072 6, 306, 060 6, 303, 936 1856 . 7, 683,168 7, 680,252 3, 579, 948 3,566,388 1857 . 11,129, 136 11,128, 368 4, 782, 976 6,382, 088 1858 . 12, 067,612 12, 040, 504 2, 606, 766 2, 603, 760 14, 787,192 14, 748, 476 7,311,467 7, 289, 470 1860 . 7, 663,136 7, 658, 400 5, 103, 299 5, 093, 685 1861. 9, 089, 334 9, 069, 600 8,418, 208 8, 377, 949 1862 . 12, 251, 544 11,312, 632 9, 061, 849 7, 813, 260 1863 . 13,116,128 11,458, 680 12, 588,179 10, 865, 548 1864 . 15, 942, 588 14, 155, 908 14. 028, 865 12, 241,710 1865. 12, 927, C40 12, 926, 264 10,210, 896 8, 530, 854 1866 ........ 25, 760,168 25, 752, 444 12,218, 806 11,219, 068 TABLE IX.—IMPORTS AND EXPORTS OF PRECIOUS METALS—RUSSIA. Value of (jold coin imported into and exported from Russia. 2 Years. Imported. Exported. Foreign coin. Russian coin. Total. Foreign coin. Russian coin. Total. 1860. £156,154 £126, 873 £263, 027 £87, 442 £1, 308, 406 £1,395, 849 1861.. 133, 005 146, 911 279, 916 84,544 1, 980, 954 2, 065, 498 1862. 161,443 105, 761 267, 224 288, 047 5, 036, 504 5, 324, 551 1663 . 1664 . 287,172 275, 263 562, 435 479, 588 9,128, 099 9, 607, 687 1865. 115,154 102, 939 268, 093 295, 250 2, 601,133 2,896, 383 1666... 146,131 72,158 220, 289 93, 743 3, 097, 494 3,191, 237 1 From the Report of the Royal Commission on International Coinage, p. 342. 2 Ibid. REPORT ON THE PRECIOUS METALS, 349 TABLE X.—A STATEMENT OF THE WEIGHT, FINENESS, AND VALUE OF FOREIGN AND DOMESTIC GOLD AND SILVER COINS. 1 Weight, fineness, and value of foreign and domestic coins. GOLD COINS. Country. Denomination. Weight. Fineness. Value. Value after deduction. Oz. dec. Thoue. Australia. Pound of 1852 . 0. 281 916. 5 $5 32. 37 $5 29. 71 Sovereign of 1856-60 . 0, 256. 5 916 4 85. 58 4 83. 16 Austria. Ducat. 0.112 986 2 28. 28 2 27. 04 Sovereign. 0. 363 900 6 75. 35 6 71. 98 New Union crown, (assumed). 0. 357 900 6 64.19 6 60. 87 Belgium... Twenty-five francs. 0. 254 899 4 72. 03 4 69. 87 Bolivia. Doubloons. 0. 867 870 15 59.25 15 51. 46 Brazil.. Twenty milreis.. 0.575 917. 5 10 90. 57 10 85.12 Central America.... Two escudos. 0. 209 853.5 3 68. 75 3 66. 91 Four reals. 0. 027 875 0 48.8 0 48.6 Chili. Old doubloon.. . 0. 867 870 15 59.26 15 51. 47 Ten pesos . 0. 492 900 9 15.35 9 10. 78 Denmark. Ten thaler. 0. 427 895 7 90. 01 7 86. 06 Ecuador.. . Four escudos. 0. 433 844 7 55. 46 7 51. 69 England . Pound, or sovereign, new. 0. 256. 7 916.5 4 86. 34 4 83. 91 Pound, or sovereign, average. 0. 256. 2 916 4 84. 92 4 82.50 Prance.. Twenty francs, new. . 0. 207. 5 899 3 85. 60 3 83.67 Twenty francs, average. 0. 207 899 3 84. 69 3 82. 77 Germany, north_ Ten thaler.. 0. 427 895 7 90. 01 7 86. 06 Ten thaler, Prussian. 0. 427 903 7 97. 07 7 93. 09 Krone, (crown). 0. 357 900 6 64.20 6 60. 88 Germany, south .... Ducat. 0.112 986 2 28. 28 2 27,14 Greece . Twenty drachms. . . 0.185 900 3 44.19 3 42. 47 Hindostan . Mohur . 0. 374 916 7 08.18 7 04. 04 Italy . Twenty lire . 0. 207 898 3 84.26 3 82. 34 Japan ___ Old cobang. 0. 362 568 4 44.00 4 41. 8 New cobang- ... 0. 289 572 3 57. 6 3 55. 8 Mexico . Doubloon, average . 0. 867. 5 866 15 52. 98 15 45. 22 Doubloon, new . 0. 867. 5 870.5 15 61.05 15 53.25 Twenty pesos, Maximilian. 1. 086 875 19 64. 00 19 54. 00 Naples . Six fin oati, new . 0. 245 996 5 04. 43 5 01. 91 Netherl anrls Tan guilders... 0. 215 899 3 99. 56 3 97.57 New Oranada Old doubloon, Bogota. 0. 868 870 15 61. 06 15 53.26 Old doubloon, Popayan. 0. 867 858 15 37. 75 15 30. 07 Ten pesos, new. 0. 525 891.5 9 67. 51 9 62.68 Peru. Old doubloon... 0. 867 868 15 55. 67 ' 15 47. 90 Twenty soles . 1.035 898 19 21.8 19 12.02 Gold crown . 0. 308 912 5 80. 66 5 77. 76 Prussia. New Union crown, (assumed) ...... 0.357 900 6 64.19 6 60. 87 Rome . .. Two and half scudi, new . 0.140 900 2 60. 47 2 59.17 Russia Five rubles ...... 0. 210 916 3 97. 64 3. 95. 66 One hundred reals . 0. 268 896 4 96.39 4 93 91 Eighty reals . 0. 215 869.5 3 86. 44 3 84. 51 Sweden . Ducat .- . 0.111 975 2 23. 72 2 22. 61 1 Prom the report of P. H. Lindermann, director of the United States mint, Philadelphia; also in the report of the Secretary of the Treasury for 1867, pages 331-2. 350 PARIS UNIVERSAL EXPOSITION Wright, fmrness. and value of foreign and domestic coins —('ontiiiuod. GOLD COINS. Country. Denomination. Weight. Fineness. Value. Value after deduction. Oz. dec. I'll OIIS. Tunis. Twenty-five piastres... 0. 161 000 $2 99. 54 $2 98. 05 Turkey. One hundred piastres. 0. 231 915 4 36.93 4 34.75 Tuscany. Sequin. 0.112 999 2 31.29 2 30. 14 Weight In grains. United States. Dollar (legal)_...._.......... 0. 053. 75 900 $1 00 25. 8 Quarter eagle. 0.134. 37 900 2 50 64.5 Three dollar. 0.161.25 900 3 00 77.4 Half eagle. 0.268. 75 900 5 00 129 Eagle. 0. 537. 05 900 10 00 ■258 Double eagle. 1.075 900 20 00 516 Country. SILVER COINS. Denominations. Weight. Fiueness. Value. Austria__......._ Old rix dollar_______ Oz. dec. 0. 902 Thous. 833 $1 02.27 1 02.64 Old scudo. 0. 836 902 Florin before 1858. 0.451 833 51.14 New florin. 0.397 900 48. 63 New Union dollar. 0. 596 900 73.01 Maria Theresa dollar, 1780. 0. 895 838 1 02. 12 Belgium. Five francs.... 0. 803 897 98. 04 Bolivia... New dollar. 0. 643 903. 5 79. 07 Half dollar. 0. 432 667 39. 22 Brazil. . Double milreis. 0. 820 918. 5 1 02.53 Canada. Twenty cents. 0. 150 925 18. 87 Central America.. Dollar. 0. 866 850 1 00.19 Chili. Old dollar. 0. 864 0. 801 908 1 06.79 New dollar. 900.5 98. 17 Denmark. Two rigsdaler. 0. 927 877 1 10.65 England. Shilling, new. 0. 182. 5 924. 5 22. 96 Shilling, average. 0.178 925 22.41 France . Five franc, average. 0. 800 900 98. 00 Germany, north. Thaler before 1857 . 0. 712 750 72. 67 New thaler. 0. 595 900 72. 89 Germany, south. Florin before 1857. 0. 340 900 41. 65 New florin, (assumed). 0.340 900 41.65 Greece. Five drachms. 0. 719 900 88. 08 Hindostan. Rupee. 0. 374 916 46. 62 Japan . Itzebu. 0. 279 991 37. 63 New itzebu. 0.279 890 33. 80 Mexico. Dollar, new. 0. 867. 5 903 1 06. 62 1 06.20 Dollar, average. 0.866 901 Peso of Maximilian. 0. 861 902.5 1 05.50 REPORT ON THE PRECIOUS METALS. 351 Weight , fineness , awtZ twfate 0 / foreign and domestic coins —Continued. SILVER COINS. Country. Denomination. Weight. Fineness. Value. 0 Scudo .. Oz. dec. 0. 844 Thous. 830 $0 95.34 Two and a half guild . 0. 804 944 1 03.31 Specie daler. 0. 927 877 1 10. 65 ]s[p\v Oranada. Dollar of 1857. 0. 803 896 97. 92 Old dollar. 0. 866 901 1 06. 20 Dollar of 1858 . 0. 766 909 94. 77 Half dollar, 1835-’38 . 0. 433 650 38.31 Sol. 0. 802 900 98. 24 Thaler before 1857 . 0. 712 750 72. 68 New thaler . 0. 595 900 72. 89 Scudo .. 0. 864 900 1 05. 84 Russia. Rouble . 0. 667 875 79. 44 Five lire. 0. 800 900 98. 00 New pistareen . 0.166 899 20. 31 Sweden . .. Rix dollar . 1. 092 750 1 11.48 Switzerland._ Two francs. 0. 323 899 39.52 Tunis ____ Five piastres . 0. 511 898.5 62. 49 Turkey.. Twenty piastres. 0. 770' 830 86. 98 Tuscany __ Florin..-. 0. 220 925 27. 60 United States.... Dollar, (legal)... 0. 859. 375 900 Weight in grains. 412. 5 Half dollar.. 0. 406 900 192 Quarter dollar. 0. 200 900 96 Dime. 0. 080 900 38.4 Half dime. 0. 040 900 19.2 Three cent. 0. 024 900 11. 52 EXPLANATORY REMARKS. 1 Tlie first column embraces the names of the countries where the coins are issued 5 the second contains the names of the coin, only the principal denominations being given. The other sizes are proportional ; and when this is not the case, the deviation is stated. The third column expresses the weight of a single piece in fractions of the troy ounce, carried to the thousandth, and in a few cases to the ten thousandth of an ounce. The method is preferable to expressing the weight in grains foy commercial purposes, and corresponds better with the terms of the mint. It may be readily transferred to weight in grains by the following rule : Remove the decimal point; from one-half deduct four per cent, of that half, and the remainder will be grains. 1 Appended to the tables by R. H. Linderinann. PARIS UNIVERSAL EXPOSITION. The fourth column expresses the lineness in thousandths, i. c., the num¬ ber of parts of pure gold or silver in 1,000 parts of the coin. The tifth and sixth columns of the first table express the valuation of gold. In the tifth is shown the value as compared with the legal contents or amount of fine gold in our coin. In the sixth is shown the value as paid at the mint after the uniform deduction of oile-lialf of one per cent. The former is the value for any other purposes than recoinage, and especially for the purpose of comparison; the latter is the value in exchange for our coins at the mint. For the silver there is no fixed legal valuation, the law providing for shifting the price according to the condition of demand and supply. The present price of standard silver is 122£ cents per ounce, at which rate the values in the fifth column of the second table are calculated. In a few cases, where the coins could not be procured, the data are assumed from the legal rates, aud so stated. NOTES ON FOREIGN COINS. Mr. Linderman adds in his report the following observations on foreign coins: “The silver sol of Peru, which is the successor of the peso or dollar, is found to be of standard fineness, and the average weight 0.802 ounce troy. The dates observed are 1SG1 to 18GG. “The Mexican silver peso or dollar of Maximilian, of the date 1866, averaged 902£ thousandths fine, and 0.861 ounce, or 413£ grains, in weight, upon trial of a considerable quantity. These two reports are furnished by the assay office at New York. “AVe have seen but one gold piece of Maximilian, called ‘20 pesos/ of the date I860, and weighing 1.08G ounce, or 521^ grains. AVe had not the opportunity of assaying it, being held as a curiosity; but the weight indicates that the doubloon fineness of 875 has been retained. On this assumption we place it in the table. “I will here add the result of a recent assay of single gold pieces of France, of the dates 1863 to 1867, and mint marks of Paris and Stras¬ bourg. This is important in its bearing upon the question of interna¬ tional coinage; for if such an interchange is to take place, the respective countries must keep good faith in regard to the fineness of their coins, otherwise the matter will soon come to an end. AVe find the fineness varying from 808.5 to 899.8, and averaging 899.2. This has generally been the result for many years, and is not what should be expected. The average ought to be 900, as required by law. The British coins are kept up to the mark.” In the report of the Secretary of the Treasury for 1868, Air. Linder¬ man says: “ Our silver dollar is not received by the Chinese except at a discount. This is owing to the fact that while it is of equal fineness with the REPORT ON THE PRECIOUS METALS. 353 Spanish or Mexican dollar, it is about one per cent, less in weight. This rejection seems to take away the last plea for continuing to coin this piece. u We have some interesting details on this subject from the master of the British mint at Hong-Kong, established there a few years since for the purpose of furnishing a silver currency, with the Mexican dollar as its basis. u The mint has recently been discontinued j but while it lasted its issues were acceptable to the Chinese traders, although the chief part of the coinage found its way to Singapore and the region thereabouts. Frac¬ tional parts of the dollar were also struck, both in silver and copper, and it is curious to observe that they followed our centesimal notation, issuing pieces of ten cents, five cents, one cent, and other denomina¬ tions.” » TABLE XI.—WEIGHTS, FINENESS, AND TOLERANCE OF THE PRINCIPAL GOLD COINS. [Supplied by Thomns Graham, esq., Master of the Royal Mint, in the Report of the Royal Commission on International Coinage, page 227.] Country. Grent Britain France, Belgium, Switzer¬ land, and Italy. United States of America.... Prussia.. Zollverein. Austria. Spain... Portugal. Brazil. British India.... I I Coin. Sovereign. Half sovereign. 25-franc piece. 20 franc. 10 franc. 5 franc. Eagle, (10 dollars). Half eagle. Dollar. Friedrichs d’or, F. )Vm. Ill, 1831. Krone, (crown,) F. Wm. IV, 1859 . Half krone of F. Wm. IV, 1858 . Reichsducaten, ducat of Francis Joseph I, 1860. Doubloon of 10 escudos. Crown of 10,000 reis. Ten mille reis piece. Gold mohur of 15 rupees. CD a *cC & a -*-> & Jbp 'o £ Alloy. Fine gold in grains. Fine gold in grains. 1 Tolerance weight. 1 Fineness. Mintage, (Frais do Fabrication.) Loss by wear allowed. 123.274 1 1 2 naooi 7. 3225 . 00208-i .002}| None . . Reduced to 122.500 grs. Cl. G37 1 1 2 56. 501 3. 6612 . 00208 j- ■•"it None . . Reduced to 61.125 grs. 124. 452 1 1 0 112.006 7. 2581 .002 .002 . 00216* Reduced to 123.581 grs. f 99.56 1 1 O 89. 604 5. 8064 .002 .002 .00216 49. 78 1 1 O 44. 802 2. 9032 .002 .002 .00216 24. 89 1 1 0 22. 401 1. 4516 .003 .002 .00216 258. 00 1 1 0 232. 200 15. 0466 .00387 .002 .005 129. 00 1 10 116.100 7. 5233 . 00387 .002 .005 25.80 1 1 O 23. 220 1. 5047 .00969 .002 .005 103.12 9 02. 7 7 8 10 0 0 1 1 0 93. 09 6. 0323 .0025 None .... 171. 467 154. 323 10.000 .0025 .002 .004 .0025 85. 7335 1 1 0 77.160 5. 000 .0025 .002 .004 .0025 53. 858 9 8 6. Ill 10 0 0 1 1 0 5a 110 3. 441 About. 003 129.43 116. 48 7.547 .00584 .002 None . . .00584 273. 71 1 250.90 16. 261 138. 35 _ 1 _ 126. 82 8.218 180. 00 1 1 o 165.00 10. 627 354 PARIS UNIVERSAL EXPOSITION. Denmark Egypt.... Greece Holland.. Malta.... Rome .... Russia ... Sweden . Turkey .. Christian d’or. Fifty piastre piece. Twenty drachmai piece .. Double William. Double ducat. Doppia, or pistole. Ten scudi piece. Half imperial of 5 roubles Ducat. Lira of 100 piastres. 102. 50 66.00 89.14 207. 68 107. 84 127. 78 267. 54 100. 99 53. 78 111. 36 895 - 833 lTroTT 8 7 4 lOoo i To l 10 9 8 3 1000 1 10 1 1 2 975 610 1000 _1 12 91.82 57.68 80.22 186. 92 106. 01 109.12 240, 78 92. 58 52. 47 102. 01 5. 949 3. 738 5.198 12.112 6.870 7.071 15. 602 6.000 3.400 6. 610 .002 .002 .0051 .003 .002 None .003 .002 None . .003 .01 * 6.70 francs on 3,100. t The loss by wear allowed on the French 20 and 10 francs is 0.7 per cent., inclusive of the tolerance of 0.2 per cent.; on the British sovereign, 0.628 per cent. REPORT ON THE PRECIOUS METALS, 355 35G PARIS UNIVERSAL EXPOSITION TABLE XII.—PRODUCTION OF GOLD. Table showing ajyproximatc production of the principal {told fields of the world , according to Phillips. 1 1800. 1850. 1860. 1865. Pounds troy. Ratio per cent. Pounds troy. Ratio per cent. Pounds troy. Ratio per cent. Pounds troy. Ratio per cent. Russian empire. 1,440 2.7 65 600 19.0 66, 000 11.3 69, 500 12.4 Austrian empire. } 3,500 6.5 ( 5,600 1.6 5, 500 1.0 5, 500 1.0 And rest of Europe. \ l 100 350 375 .Southern Asia. 10,000 18.5 25, 000 7.3 25, 000 4.3 25, 000 4.5 Africa. 600 1.2 4, 000 1.1 4, 000 0.7 4,000 0.7 Chili. 7,500 13.8 Bolivia. 1,600 3.0 Peru. 2, 400 4. 4 <» 34, 000 9.9 34, 000 5.9 34,000 6.1 New Granada. 12, 600 23.4 Brazil. 10, 000 18.5 Mexico. 4,300 8. Oj California and neighboring States and Territories. 208 000 60. 2 187 000 31. 9 210, 000 37.5 Rest of United States. 2, 950 0.9 1,020 0. 2 140 Nova Scotia.. 2, 072 0.4 British Columbia.. 20 000 3. 4 11, 600 2.1 Australia. 217, 500 37. 0 156, 000 27.9 New Zealand... 25, 000 4. 3 41,400 7. 4 Total. 53, 940 100. 00 345,250 100.00 585, 370 100. 00 559, 587 100. 00 1 The Mining and Metallurgy of Gold and Silver, page 127. * The yields of the different members of this group vary considerably from year to year, but the aggregate product is believed to remain tolerably constant. REPORT ON THE PRECIOUS METALS, 357 TABLE XIII.—PRODUCTION OF SILVER. Table showing the approximate yield of the principal silver-producing coun¬ tries , according to Phillips. 1 1800. . d § 2 Ph ~ p. • .2 a - j 3 ! __ ... 20 j-f - j -f INDEX A. Page. Africa, gold fields and production of. 107 estimated annual production of gold in, by Birkmyre. 107 Algeria, silver-mining companies of represented at the Exhibition. 186 Alloys and values, rules for the calculation of. 333 Almaden quicksilver mine, Spain, ores of at the Exhibition and the annual yield.. 196 American Statistical Association, petition of in regard to metric system. 282 Angel’s camp mines, peculiarity of the ores of. 8 Anzasca Gold Mining Company, Italy, yield of since 1863. 99 Appalachian gold field, discovery of gold in. 47 extent of. 48 quality and character of gold of. 48 deposits of gold from, at United States mint. 48 decrease in production of gold from. 48 App’s mine, yield of from May, 1859, to September, 1866. 6 Argentine Republic, gold mines of. 72 Arizona, principal mining centres of. 43 estimated bullion yield for 1867. 43 silver mines of. 153 Asia, movement of precious metals towards. 231 exports of gold and silver to in 14 years, table. 232 Australia, number of miners in gold fields of, from 1859 to 1867, inclusive, (table). 307 average earnings of miners in, (table)... 309 number of steam engines and stamp heads employed in mining in, (table). 310 average yield of quartz per ton in different districts in, (table). 31] cost of crushing quartz and cement in. 311 extraction of gold from auriferous pyrites, success of operations in. 312 exhibition of specimens of gold from. 75 model and description of “ Welcome nugget ”. 76 pyramid representing the amount of gold produced from 1851 to 1866... 76 weight and cost of stamps in mining districts of. 313 observations by Mr. Selwyn in regard to placers of. 78 Austria, collections of silver from, at the Exposition. 179 principal localities of silver in. I 79 production of silver from 1855 to 1859 . I 79 gold production in, in 1865 . 97 annual production of gold in, from 1819 to 1865 inclusive, (table). 97 production of gold ores for three years ending 1866, (table). 98 24 G 3G2 PARIS UNIVERSAL EXPOSITION. B. Page. Bullurnt, mines and workings of. 86 Bnrnhardt mine, specimens from. 11 Baron de Hock, remarks by, on monetary unit.1. ‘245 Beckwith, Mr. N. M., observations on monetary treaty and international coinage.. 253 Birkmyre, table by, of production of precious metals. 358 estimates by, of production of gold and silver in America in 1801. 207 Blue Gravel Miuiug Company, results of sluicing by. 15 Blue lead, estimated yield of one mile of, by J. H. Crossman. 14 Bolivia, estimated yield of the mines of Potosi since 1545 . 174 average annual yield from discovery to 1556. 174 total production of silver from 1827 to 1848, and of gold from 1800 to 1848. 174 production of gold and silver of, from 1800 to 1846, (official return). 174 Borneo, gold production of. 106 exports of gold from. 329 Brazil, gold districts of. 63 British Columbia, discovery of gold in gold placers of the Stickeen river . 41 aggregate gold yield at Cariboo during the summer of 1861 .... 41 shipments of gold from Victoria to San Francisco. 41 probable product for 1867. 42 Browne, J. Ross, observations in regard to mining and bullion statistics. 58 Bullion production of the United States and Territories in 1867, (table).. 57 C. California, collection ofores from, in the Exhibition. extent of gold field in. early discoveries of gold in. geology and gold-bearing veins of. character of the auriferous veins of. average fineness of gold of. value of the gold production in, since 1848. discovery of silver in. list of silver miuiug districts in, and character of veins.. present production and export of quicksilver. exports of treasure from, in 1867 and 1868, (table). receipts of treasure from interior of, for nine months of 1867 and 1868.. production of gold in, up to 1851, (table). Cuuada, alluvial gold deposits of. Carson Hill mine, large masses of gold found in the vein. Celebes and Philippine islands, gold production of.-. Cement deposits, peculiarities and character of. Central America, mines and production of... Chaparral Hill mine. Chevalier, estimates of production of gold and silver by. Chili, collection of silver ores from, at the Exposition. mines and mining industry of. annual silver production of. principal silver mines of. annual silver production of, as estimated by Humboldt. total value of silver production of, for 1866 . metals exported from, and coined at mint, from 1841 to 1649, (table) . yearly amount of gold produced by, in 1800 . important mines of..... 1 2 2 2 3 4 21 145 145,146 196,199 327 328 329 49 7 106 13 75 7 207 166 166 166 167 168 168 169,170 70 71 PRECIOUS METALS.—-INDEX. 363 Page. China, gold-producing localities of. 102 increase of exports of bullion to, from California since 1854 . 103 principal silvey-producing localities of. 187,188 Churchill county, (Nevada,) silver-mining districts in. 139 Clear creek mines, character of the ores of. 4 Clunes, mines of. 83 Coastwise bullion receipts, California, (table). 17 Cochin China, gold mines of. 105 Coinage, French statistics in regard to. 221 in France according to decimal system, (table). 223 total, at United States mint from 1792 to 1868, (table). 342 proposed and existing systems of, compared, (table). 305 comparison of German, and other standards. 306 table of, at the mint and branches at close of the fiscal year 1868. 227 averages of, for each decade from 1793 to 1868,'inclusive. 228 estimated cost of recoinage for the United States. 226 Colorado, display of ores of, at Exhibition. 44 discovery of gold in, and principal gold localities. 44, 45 character of the ores of.-. 45 publication by Mr. J. P. Whitney on silver ores of. 150,151 assays of silver ores of. 153 different methods employed in, for extracting gold. 45 number of stamp mills and stamps in. 46 estimated production of gold in, since discovery. 46 estimated production for 1867. 46 collection of gold ores from..,. 3 Comstock lode, discovery of. 2 monthly shipment of bullion from, for 1865 and 1866, (table). 125 bullion product of leading claims on, for 1866 and 1867, (table)... 126, 127 total bullion product of. 128 relative value of gold and silver ores from, (table). 129 mining claims on, (table). 113 pumping and hoisting engines on, (table). 114 annual consumption of lumber, and cost of mining. JI 5 average yield of ores from principal mines of. 121 dividends of companies of, for 1866 and 1867, (table). 123,124 Coney mine, richness of the sulphurets of, worked by Plattner’s process. 8 Coulterville and Hite’s cove, vein mines of. 6 Crescent mine, yield of, in 1865. 11 Crossman, J. H., map of cement deposits, by. 13 estimated yield of one mile of blue lead, by. 14 Cuba and San Domingo, exhibition of specimens of gold from. 75 D. Dakota, gold placers and veins of. 47 Danson, Mr., estimated silver product of Mexico for 1847-’48. 156 Decimal system of weights, measures and coins, note by Mr. Leone Levi on. 246 Decrease in the production of gold, effect of, on value of. 237 Demidoff, Paul, exhibition of platinum from Russia, by. 190 Deposits of gold and silver, statement of, during year ending June 30,1868, (table). 336 Don Pedro North d’El Rey, situation and extent of mine. 69 Dunning, Mr. G. F., suggestions in regard to monetary unification. 300 E. East d’El Rey Company, extent and character of mines of. 70 3G4 PARIS UNIVERSAL EXPOSITION Pago. Elliott, Mr. E. B., paper by, ou the metrical unification of international coinago.. 304 Esmeralda county, (Nevada,) silver mines and mining districts in. 137-139 Exports and imports of coin and bullion from United States from 1821 to 18G8, (table). 345 Exports of gold and silver bullion, statement of, from Uuited Kingdom, (table).. 346 Exports of treasure from San Francisco from 1848 to 1868, (table). 20 Eureka mane, character of, gross yield, in 1866, and yield of gold per ton of ore... 9 F. Fineness of gold coins, (table). 354 Frauce, principal silver mining companies of. 175 lead and silver ores of. 176 production of silver in. 176 value of gold coin imported into and exported from, (table). 348 production of gold in, from 1853 to 1859, inclusive, (table). 100 G. Gold yield for 1867, approximate value of, (table). 108 Gold Hill, yield of, during 14 years; net profit from Watt vein in three years. 9 Gold product of California, (table). . . 17 Golden Rule mine, amount of gold extracted in 1866. 7 Gold coins, (table of weights, fineness, and value). 358 Gould and Curry mine, statement of the product of, for 1862, 1863, 1864, 1865.... 115 operations and expenses of, (table). 117 statement of cost at mill of, for year 1866, (table). 118,119 quantity and value of ore amalgamated at mill of, and value of bullion produced in year ending November 30, 1866, (table). 120 production of, to December, 1866 . 121 Grass Valley district, production of gold of, during the last 14 years. 9 Great Britain and Ireland, auriferous localities of. 101 returns from the Welsh mines from 1860 to 1866 . 101 H. Harpending claim, Placer county, methods of working and reducing the ore. 12 Hayward’s mine, Sutter creek, depth of main shaft and thickness of veins. 8 yield of the mine, and richness of ore per ton. 9 Humboldt, estimated average supply of precious metals from 1492 to 1500, by ... 201 Humboldt county, (Nevada,) silver mines and mining districts in. 139,140 Hunt, Dr. T. Sterry, report on the gold fields of Nova Scotia, by. 50 I. Idaho, character and yield of the principal gold and silver veins of.. 147 list of quartz mills in, (table). 149 Idaho and Washington Territories, gold discoveries in and gold region of.. 38 Imperial Brazilian mining association, receipts from the mines of. 68 Independence mine, character and thickness of the veins of. 11 India, auriferous districts and gold production of. 105 International monetary conference, proceedings of. 259 reports and documents of. 245 report of delegates from Great Britain. 269 PRECIOUS METALS.—INDEX. 365 Page. Italy, mineral collections from, at the Exposition. 98 character of gold veins of, and number of mines worked. 98 character of the silver ores of... 178 most important deposits of silver in. 178 total yield of gold mines of, for 1866. 100 annual production of silver from 1859 to 1865, inclusive. 179 number of workmen employed in, and cost of production. 179 J. Jacob, analysis of his estimates. 204 estimates of, in regard to the amount of gold and silver in existence. 201 estimates by, of amount of precious metals used in the arts. 228 Japan, gold trade with Dutch in. 103 export of precious metals from 1540 to 1740. 104 discovery and use of gold in. 104 silver veins in. 189 estimated amount of silver exported from 1611 to 1706 . 189 Jevons, Professor, observations on variation of prices and value of currency. 232 effect of the increased production of gold on prices, remarks by. 235 Joe Walker mine, width of vein and character of ore of. 4 Johnson, IV^athey & Co., Messrs., medals awarded to .. 195 display of rare metals by. 194 platinum apparatus of. 192 K. Kelley, Hon. W. D., bill introduced by, to promote monetary unification. 303 Kennedy, Hon. J. P., resolutions of, adopted by monetary committee. 257 Keyes, Mr. W. L., on mineral resources of the Territory of Montana. 40 Keystone mine, monthly yield of, in 1866. 11 L. Lake Superior, silver from, deposited in United States mint from 1858 to 1867. 154 Lander county, Nevada, discovery of silver in. 129 Lander county, Nevada, list of districts in. 130 mines and production of districts of. 132,33 Levi, Mr. Leone, note by, on decimal system of weights, measures, and coins_ 246 Long Tom mine; situation, size of vein,, character of ore and yield. 4 M. Mariquita and New Granada Mining Company... 74 McCulloch, estimates by, of amount of precious metals used in the arts. 228 Metric weights and their equivalents. Table of. 359 Mexico, production of silver at time of invasion by Cortez. 155 production of silver at close of 18th century .. I 55 production of silver for 1867 . ]56 production of gold and silver in Mexico from 1804 to 1846, (table). 156 estimated present and annual production.. ] 5 (j coinage of the mint of, since 1856 .. 152 present condition of mining for gold and silver in. 325 gold and silver coinage of mints of, from 1858 to 1867, inclusive, (table) . 315 coinage of mints of, from 1822 to 1856, inclusive. 326 average annual production of gold in, for the present century. 56 total production of gold in, from 1804 to 1847, as calculated by Mr. Danson. 56 PARIS UNIVERSAL EXPOSITION. 3 (?6 Png®. Mining engineers, importance of establishing a corps of. ‘.Ml Mint of l nited States, deposits of gold and silver at. 336 total coinage at, for 1868. 337 silver coinage at. 341 total coinage of, from 179*2 to 1868, (table). 342 Monetary unity, importance of. 245 Monetary treaty, translation of. 248 report of committee in regard to. 250 observations by Mr. Beckwith in regard to. 253 Monetary unification, plan of, agreed to by monetary conference. 2(50 report of Senator Sherman on. 283 report of Senator Morgan on. 292 comparison of the different systems of proposed. 308 Montana Territory, principal centres of mining in. 39 total production of the mines of, in 1863 . 40 total production of the mines of up to 1868 . 40 mineral resources of, by Mr. W. L. Keyes. 40 estimated yield of in 1867. 41 Morgan, Senator, report of, on monetary unification. 292 Morro Velho mine, account of, by Mr. J. Phillips. 64 total value of precious metals extracted from. 65 average yield of gold per ton since 1847 . 65 character of machinery, and number of hands employed. 67 work performed by stamps, &c., table. 68 N. National mining college, necessity and importance of establishing a. 240 Nevada county, (California,) number of mines in,in year 1865 . 10 aggregate yield of nineteen mines of. 10 Nevada, gold districts of. 42 gold product of for 1867 . 42 discovery and development of silver mines in. 109,110 total bullion, product of. 1J0 reduction works in in 1866 . 142 quartz mills in in 1866, table. 143,144 cost of materials for working mines and ores in. 116 recent discovery of silver in, at White Pine district. 329 New Almaden mine, (California,) amount of quicksilver produced by. 197 New Granada, mines and production of gold in. 73 New Hampshire, discovery and production of gold in. 49 New Idria mine, (California,) amount of quicksilver produced by. 197 New Mexico, discovery and extent of gold-field of. 43 placers of. 44 estimated gold production of for 1867. 44 New South Wales, exports of coined and uncoined gold from, (table). 87 New Zealand, exports of gold from, (table). 89 Northern Mexico and Sonora, observations on silver mines of, by Mr. Remond_ 160, 162 position and character of the principal mines of.... 163,165 North Star mine, profits realized from during last five years. 9 Norway, silver mines of. 183 silver mines of Konigsberg. 184 specimens of ores from, exhibited. 185 Nova Scotia, exhibition by the gold commission of. 49 character and quality of the gold of. 50 PRECIOUS METALS.—INDEX. 367 Page. Nova Scotia, report on the gold region of, by Dr. T. Sterry Hunt, F. R. S.. 52 value of total gold production of Nova Scotia... 54 production of mining districts of for one year, (table)... 56 Nye county, (Nevada,) collection of ores from, at the Exposition. 133 list of mining districts in. 134 0 . Ophir mine, yield of, from 1852 to 1864 ; yield of gold per ton of ore............. 9 Oregon, reported yield of gold in in 1864..... 37 notices of the gold districts of..... 37 gold quartz mills in in 1866, (table).... 38 P. Pachuca, (Mexico,) statement of ores worked, and results obtained at, in 1864, (table) 317 Penon Blanco claim, character and course of vein of... — . 6 Peru, silver mines and production of...... 171 report of Lieutenant Herndon on Cerro Pasco mines of... 171,173 total production of silver mines of, from 1804 to 1848...... 173 present total annual production of mines of... 173 Pestarena Gold Mining Company, (Italy,) yield of for 1866 and 1867.... 99 Phillips, table by, of production of silver..... 357 estimates by, of production of precious metals in America in 1800 .. 207 table by, of production of gold...... 356 Pine Tree and Josephine, average yield of gold per ton of ore... 5 processes employed in working the ore.. 6 Placers, extent and character of, in California...... 13 Placer-mining, vein-mining compared with. 234 Platinum, amount coined in Russia from 1826 to 1844 . 191 from Oregon, analysis of...... 192 Poorman lode, (Idaho,) character of silver ore from, and results of working. 148 amount of rock produced by, and sent to mill..- 148, 149 Portugal, production of silver in .... ...... ........ .. 181 Potosi, discovery of the mines of....... *202 Precious metals, approximate production of, from 1492 to 1803, (table). 208 aggregate production of, from 1803 to 1848... 210 estimated stock of, at the end of 1599...... 202 Princeton vein, aggregate yield of, and character of the vein... 5 Production of the precious metals, aggregate, from 1848 to 1868, (table). 216 summary to, 1868 ..... 217 table by Birkmyre... 362 Production of gold and silver, table of, for year 1853 ........ 211 approximate statement of, in 1867.. 212 ratio of, to each other, (table).... 214 aggregate production of, up to 1868 . 219 Production of gold, decrease of, statistics in regard to California... 233 decrease of, in Australia ..-...... 233 uniformity of, in Russia.... 233 table from Phillips......... 360 Production of silver ; table from Phillips.... —.... 361 Prussia, silver mines of, and production... 280 Q< Queensland, gold production of....... 89 Quartz mills, number of, in California in 1866, (table). 22 368 PARIS UNIVERSAL EXPOSITION. R. Pago. Raw-hide much mine, character of the vein and yield. 7 Real del Monte Mining Company, (Mexico,) results of mining operations of 1860. IT»7 stores consumed at, in 1800, (table).. 158 silver ores reduced by. 159 produce of, for 17 years, (table). 1G0 Receipts of treasurer at San Francisco during 1864, 1865, 18GG, 1867, (table). 16 Redington Quicksilver Company, production of, and number of men employed by.. 198 Rcmoud, Mr., observations and tables by, on the silver mines of northern Mexico.. 160,165 Rossa Grande Gold Mining Company, Brazil, extent and character of the mines of.. 69 Roumania, gold mines and placer deposits of. 100 Ruggles, Mr. S. B., reports of, on monetary conference. 261 argument of, in favor of the 25-franc piece. 264 argument of, at International Monetary Conference. 225 Russia, annual production of fine gold in, from 1824 to 1848, (table). 92 total production in, from 1847 to 1855. 93 mines of, represented at the Exposition. 94, 95 observations on gold fields of. 95,96 tax on mining operations in. 97 exhibition of native platinum from. 190 platinum districts of. 191 discovery and production of gold in. 90 principal silver mines of, and their discovery. 182 annual silver production of. 182 ores from mines of, at the Exposition. 183 value of gold coin imported into and exported from, (table). 348 S. San Francisco, deposits of gold and coinage at, for 1867, (tables). 61,62 Saxony, processes employed in reducing silver in. 180 mining districts of. 180 total yield of silver in, from 1524 to 1850.. 180 Selwyn, Mr., opinion of, in regard to quartz veins of Victoria. 77 observations by, on Australian placers. 78 Sherman, Senator, report of, on monetary unification. 283 Siberia, gold washings in, in 1863, (table). 91 Sierra Buttes mine, location, character, and thickness of the veins of. 10 yield and profits of, from 1857 to 1865 . 11 Soulsby mine, character of the vein, and yield of the mine. 7 South Australia, exports of gold from, (table). 88 South Carolina claim. 8 Spain, antiquity of the gold and silver mines of..... 98 present annual production of. 98 antiquity of the silver mines of, and character of veins. 177 St. John d'El Rey Company, mines of. 64 Swansea, in Wales, exportation of Colorado ores to. 45 yield of gold and copper by processes employed at. 46 Sweden, principal silver mines of... 186 Switzerland, argentiferous ores of...* . 181 T. Tax on mines and bullion, proposed abolition of, in Mexico. 318 effect of, on production of gold in Russia. 97 remarks by Mr. Castillo on proposed abolition of. 326 Thibet, production of gold in, in 1831 .... 105 PRECIOUS METALS.-INDEX. 369 Page. Toppa Gold Mining 1 Company, (Italy,) yield of, since 1863. 99 Trask, Dr., discovery of fossils of the carboniferous period, in California, by. 2 Treasure shipment from California during the year ending 1867, (table). 18 Treasure shipment from California from 1854 to 1867, inclusive, (table). 19 Turkey, exhibitions of silver ores from. 186 Twenty-five franc piece, arguments in favor of, as basis of international coinage.. 264 U. United Kingdom of Great Britain, amount of silver produced in, for 10 years. 181 exports of gold and silver bullion from, (table). 346 United States, total bullion production of, from 1847 to 1868 . 59 revenue tax on gold collected in 1867, (table). 59 character of silver mines in Atlantic portion of. 154 estimates of gold and silver in, at different periods, (table). 220 Uruguay, gold mines of. 72 Y. Value of the gold production of the-State of California since 1848 . 21 relative, of gold and silver among Greeks and Romans. 330 table of, at various periods from 1344 to 1863. 331 table of, of gold and silver in London, from 1760 to 1829 and from 1841 to 1866. 332 of alloys, rules for calculation of. 333 Vein mining, average yield of the most profitable mines of California. 235 importance of encouraging. 238 success of, in California. 9 . . 238 success of, in Australia. 238 necessity of government protection for. 239 gold by mines of. 72 Venezuela, exhibition of gold from .. 72 Victoria, (Australia,) number of quartz miners employed in different districts of .. 82 yield of gold from, in 1866. 83 production of gold in, since 1863, (table). 81 character of the veins of. 76 specimens of gold at the Exposition from. 77 opinion of Mr. Selwyn in regard to quartz veins of. 77 Virginia district, Comstock lode, method of working the silver veins. Ill, 112 Vulture mine, width of vein, richness of ore, and product. 43 W. Washoe mining companies, assessments of, (table). 1 * 22 , 123 Wear of precious metals, estimated loss by. 202,229 Weights, measures, and coins, advantages of a universal system of. 242 Weights, fineness, and value, table of, of foreign and domestic coins. 354 White Pine district, notice of discovery. 329 Whitney, Mr. J. P., ores of Colorado exhibited by, at the Exposition. 44 estimates of production of gold in Colorado by. 46 publication by, on the silver ores of Colorado. 150,151 Y. Yesso and Sado, (Japan,) character and richness of the gold mines of. 105 25 G