Ch. 3: Precious Gem stones in 1903

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	GOLD AND SILVER. 191

	MONTANA. By Alexander N. Winchell. PRODUCTION. The production of precious metals in Montana during the year 1904, as reported to the United States Geological Survey, was as follows: Production, of gold and silver in Montana in 1904[Fine ounces.]



	The gold is calculated at the coinage rate of $20.6718 per fine ounce, and the silver is reckoned at the average commercial value for the year, which was 57.221 cents per tine ounce. If these results be compared with the total production as reported by the assay office of the United States Mint at Helena, Mont., the following table results: Production of gold and silver in Montana iti 1904, as reported by United States Geological Surrey and by United States assay office.



	All the important metal producers of the State have reported to the Survey, and although some small producers may have been overlooked, it is believed that the chief cause of the difference in these figures is to be found in the possibility* that the gold brought to the Helena assay office from sources outside the State is sometimes credited to Montana, and in the further possibility that some of the gold reported by the assay office is remelted gold of the arts. This supposition is corroborated by the fact, that a similar difference exists between the total production of the precious metals as given by the assay office and as reported by the Bureau of the Census for the year 1902, This, is shown in the following table:

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