The receipt of bullion and the delivery of coin from the Mint is under the charge of the chief clerk, the manufacture of coin is in the hands of the superintendent of the operative department, and the valuation of the bullion by assay, and matters relating to the fineness of the coin are entrusted to the chemist and assayer.
Considerable quantities of foreign ores and base bullion are also refined in the United States.
At present all gold bullion brought to the Mint is weighed and portions are cut off for assay.
In 1810 he was a member of the Bullion Committee, and his speeches on the report showed his mastery of the subject.
On the 24th of July 1663 he alone signed a protest against the bill " for the encouragement of trade," on the plea that owing to the free export of coin and bullion allowed by the act, and to the importation of foreign commodities being greater than the export of home goods, " it must necessarily follow.
Crown-glass has at the present day almost disappeared from the market, and it has been superseded by sheet-glass, the more modern processes described above being capable of producing much larger sheets of glass, free from the knob or " bullion " which may still be seen in old crown-glass windows.
This only requires to be annealed and is then ready for cutting up, but the lump of glass by which the original globe was attached to the pipe remains as the bullion in the centre of the disk of glass.
The bullion left in the retorts is then melted in black-lead crucibles, with the addition of small quantities of suitable fluxes, e.g.
The bullion with about twice its weight of sulphuric acid of 66° Be is placed in the pot, and the whole gradually heated.
The transit trade in the last-named year included bullion valued at £33,000, being raw gold from the Kilo mines, Belgian Congo.
The amount of gold in standard ounces (916.6 fine) corresponding to the " imported " bullion is thus ascertained, and on the application of the importer the gold is coined and delivered to him in the form of sovereigns and half-sovereigns at the rate of £3, 17s.
As a considerable time elapses between the receipt of bullion by the Mint and the delivery of the coin, it is generally 1 Grueber, op. cit.
More profitable for the holder of gold bullion to sell it to the Bank of England or dispose of it in some other way.
The result is that the gold presented for coinage is almost always sent from the Bank of England, which suffers no loss of interest during the coinage of the bullion, because bank-notes have already been issued against it.
Silver bullion, and the copper, tin and zinc required to make up bronze, are bought by the Mint and manufactured into coin, which is kept in stock and issued as it may be required.
The proportion of rejected gold coin varies with the quality of the bullion, and frequently exceeds to %.
They kept the keys of the treasury and had charge of its contents, including not only coin and bullion but also the military standards and a large number of public documents, which in later times comprised all the laws as well as the decrees of the senate.
When the vast field of the East was opened to Hellenic enterprise and the bullion of its treasuries flung abroad, fortunes were made on a scale before unparalleled.
The resources of Balmaceda were running short on account of the heavy military expenses, and he determined to dispose of the reserve of silver bullion accumulated in the vaults of the Casa de Moneda in accordance with the terms of the law for the conversion of the note issue.
The precious metals brought in by the tribute were collected in the great, treasure-houses at Susa, Persepolis, Pasargadae and Ecbatana, where gigantic masses of silver and, more Money and especially, of gold, were stored in bullion or partially Coinage.
The yield in silver is low unless the ores are exceptionally free-milling; the bullion produced is high-grade, as refractory silver minerals are hardly attacked.
The loss in quicksilver is small, as there is no chemical loss inherent in the process; the yield is relatively high, but the bullion is liable to be low-grade, on account of copper being precipitated and amalgamated.
"La Lutine," which had been captured from the French by Admiral Duncan, was carrying a large quantity of bullion and specie, which was underwritten at Lloyd's.
The Dutch government claimed the wreck and granted one-third of the salvage to bullion-fishers.
His plan was to replace coined gold dollars by " gold bullion dollar certificates " which should command such weight of gold bullion as might legally be declared to constitute a dollar at that particular time.
The external trade of the Russian empire (bullion and the external trade of Finland not included) since the year 1886 is shown in the following table: The exports rank in the following order :- cereals (wheat, barley, rye, oats, maize, buckwheat) and flour, 49.2%; timber and wooden wares, 7.2; petroleum, 5.8; eggs, 5.4; flax, 5; butter, 3; sugar, 2-4; cottons and oilcake, 2 each; oleaginous seeds, &c., 1.5; with hemp, spirits, poultry, game, bristles, hair, furs, leather, manganese ore, wool, caviare, live-stock, gutta-percha, vegetables and fruit, and tobacco.
Veins of antimony are worked in the Battle Mountain District and in Bullion Canyon, 15 m.
The leading products of the blast-furnace are argentiferous lead (base bullion), matte, slag and flue-dust (fine particles of charge and volatilized metal carried out of the furnace by the ascending gas current).
The base bullion (assaying 300 t oz.
It holds its own, however, when base bullion contains bismuth in appreciable amounts, as in the Pattinson process bismuth follows the lead to be cupelled, while in the Parkes process it remains with the desilverized lead which goes to market, and lead of commerce should contain little bismuth.
The base bullion is imperfectly Pattinsonized, giving lead rich in silver and bismuth, which is cupelled, and lead low in silver, and especially so in bismuth, which is further desilverized by the Parkes process.
In large works the silver-lead alloy is removed when it contains 60-80 silver, and the cupellation of the rich bullion from several concentration furnaces is finished in a second furnace.
The plus-silver is due to the fact that in assaying the base bullion by cupellation, the silver lost by volatilization and cupel-absorption is neglected.
In the United States the cost of desilverizing a ton base bullion is about $6.
Since the action is sometimes very violent, especially when the bullion is treated in the granulated form (it is steadier when thin plates are operated upon), it is found expedient to add the acid in several portions.
Wetzel, are: that money as coin may have more than its bullion value; that natural interest is determined by the rent of land valued at the sum of money loaned - an anticipation of Turgot; that high wages are not inconsistent with a large foreign trade; that the value of an article is determined by the amount of labour necessary to produce the food consumed in making the article; that manufactures are advantageous but agriculture only is truly productive; and that when practicable (as he did not think it practicable at the end of the War of Independence) state revenue should be raised by direct tax.
The collection of this bullion was at all times a main object with the Spanish government, and more especially so after the discovery of the great silver deposits of Potosi in Bolivia.
Congress had passed a law in 1878 requiring the treasury department to purchase a certain amount of silver bullion each month and coin it into silver dollars to be full legal tender.
At the same time expenditures were largely increased by liberal pension legislation, and the government's purchase of silver bullion almost doubled by the provisions of the new Sherman Silver Purchase Act of 1890.
Among the incidental operations are (a) the valuation of the bullion by weighing and assaying it; (b) " rating" the bullion, or calculating the amount of copper to be added to make up the standard alloy; (c) recovering the values from ground-up crucibles, ashes and floor sweepings (the Mint " sweep "); (d) assaying the melted bars; (e) " pyxing " the finished coin or selecting specimens to be weighed and assayed; (f) " telling " or counting the coin.
Forced contributions had been levied by both sides on goods or bullion, being European property, the reactionaries being the worst offenders; and there were numerous cases of murder and robbery of Europeans.
Another fund, of about 5,200,000, serves for the construction and armament of fortresses; while 6,000,000, known as the Reichskriegsschatzor war treasure fund is not laid out at interest, butis stored in coined gold and bullion in the Juliusturm at Spandau.
In coined money, bullion or bank-notes, the remainder in bills at short sight.
Bullion, and other Banks.
BULLION, a term applied to the gold and silver of the mines brought to a standard of purity.
Argent en plate, vessel d'argent, &c."; and apparently it is connected with bouillon, the sense of "boiling" being transferred in English to the melting of metal, so that bullion in the passage quoted meant "melting-house" or "mint."
From the use of gold and silver as a medium of exchange, it followed that they should approximate in all nations to a common degree of fineness; and though this is not uniform even in coins, yet the proportion of alloy in silver, and of carats alloy to carats fine in gold, has been reduced to infinitesimal differences in the bullion of commerce, and is a prime element of value even in gold and silver plate, jewelry, and other articles of manufacture.
Bullion, whether in the form of coins, or of bars and ingots stamped, is subject, as a general rule of the London market, not only to weight but to assay, and receives a corresponding value.
It may well be that that operation must be regarded as done in the interest simply of the bullion itself, but that the subsequent operations of lightening the ship and floating her can only be properly regarded as undertaken in the common interest of ship, hemp, grain and freight.
But the bullion will not contribute; it will merely bear the expense of its own rescue (Royal Mail S.
After 1885 there was a gradual decline in the output, whose bullion value in 1908 was $250,986.
The table' on p. 602 shows the subsequent movement in value of imports from other countries to the United Kingdom, and of exports to other countries from the United Kingdom, at quinquennial intervals; bullion and specie being excluded.
The value of the cotton manufactures exported sank from L80,164,155 in 1872 to L67,641,268 in 1876; woollen fabrics from £38,493, The tables on p. 604 show the value of unregistered imports of golc_ _ nd silver bullion and specie from British possessions and from foreign countries into the United Kingdom, specifying the most important countries individually..
The values of imports and exports (including bullion, specie and re-exports) in pesos of 18d.
His first publication (1809) was The High Price of Bullion a Proof of the Depreciation of Bank Notes.
It gave a fresh stimulus to the controversy, which had for some time been discontinued, respecting the resumption of cash payments, and indirectly led to' the appointment of a committee of the House of Commons, commonly known as the Bullion Committee, to consider the whole question.
The following table shows the value for five years of the exports, and of all imports not reexported (exclusive of coin and bullion): - In 1910 the principal exports, in order of value, were wine (chiefly port, common wines and Madeira), raw and manufactured cork, preserved fish, fruits and vegetables, cottons and yarn, copper ore, timber, olive oil, skins, grain and flour, tobacco and wool.
The raw materials purchased by Flemish, German or English traders were used in the establishment of productive industries, while Portugal received a vast influx of bullion, most of which was squandered on war, luxuries or the Church.
As in the 16th century immense quantities of bullion were imported by the treasury, and were lavished upon war, luxury and the Church, while agriculture and manufactures continued to decline, and the countryside was depopulated by emigration to Brazil.
There can be no doubt that the use of the drug is opposed by all thinking Chinese who are not pecuniarily interested in the opium trade or cultivation, for several reasons, among which may be mentioned the drain of bullion from the country, the decrease of population, the liability to famine through the cultivation of opium where cereals should be grown, and the corruption of state officials.
Gold coin and bullion form one of the principal items in the export list, but only a small portion of the export is of local production, the balance being Queensland and New Zealand gold sent to Sydney for coinage.
On the 30th of June 1906 the coin and bullion in reserve amounted to £8,192,000 and the note circulation to £1,462,000.
Formerly bullion was melted in crucibles made of refractory clay, but they are liable to crack and require careful handling These were succeeded by iron crucibles, especially for melting silver, and these have now been generally replaced by graphite (plumbago) crucibles made of a mixture of clay and graphite.
Since 1825 the total product of lead refined from domestic ores and domestic base bullion was, up to the close of 1908, 7,091,548 short tons.