, 1873-10-27

observations which he made to nc yesterday on
tho subject Of epcclo-reRumptiop and tho weak
ness Of our ourrouoY In America. do not pre-
tend to bo oxaot in this remembrance Of some
quito novel matters:
:. MI. August Belmont being mentioned, tho
What Is Air. Belmont d? Ho Is most notably
tho person charged III America with instructions
from tho nothHehilds as follows:
-, nuY GOLD FOR Us WHENEVER YOU uAN.'
Ilto 1tothBobiltlB llavo thus boon drainors and
hoaraors Of gold for years they take it IN n1l
otlor people begin to hoard IT. In 1888 tho
young Thiors (or Ills faotor) wentto Frankfort to
get eighty-odd millions Of francs [porhaps dol
lars---Narutor] for tho Fronch Government. The
chief Of tho RothHclildA thoro said: 'Thoro will
mind, except in this respect: NC would like yon
to 10 present this evening when wo call together
tho Representatives Of tho jewish houses which
support us in ouf loans and credttB.'
"'Ihat lB unnecessary and awkward, and will
ombarrass the result aeid tho Fronch1na1.
Not at al. Tllcse people know tile bnsis Of
ol1r banking-Hpecie; ant spocio fs tho specially
Of our tribo. They oil have confidence in us;
but, at 9 time li1ke this, we wish you to nud, BY
sontations, for these Jews know where tho specie
Of tho world is boarded in revolutionary periods,
and, II wo lose tho confidence of our lBraolitiah
bankers, nobody else but they could find that
Therefore, as expected. the Jews gathered in
that evening, and tho nothachild on the spot
sail: sWo haye negotiated 4 loan for tho now
Otizen-King Of Trance to such an extent. We
are accustomed to rely upon you, and ,vo nov
to that in which wo hayo full confdonco.'
"Tho jews nodded their hoadB af1lrmativc1y.
Thfora was 80 profoundly impressed That, aftor
the upsetting Of Louis Philippe, whom the
aaa .di yell snppoFhs he said to his
".'Dd you not feel crippled md apprehensiyc
the ycar OF Louis Phiilippe'a dovnfa}f?'
"' Yes, for ax months We did. But these
Jews, our brethren whom you saw in '33, know
up in Asia was aocreted. They sent to the jewa
ID Chinn, India, md all tho Mongo1ian and
Ma1ay nations, to produce 1t from their hiding
places. Responsive to that call, which was con-
dne donso u Itsot ths money came saved tho
"speoie ia the basis of the aooia1 and political
world. Gold Ina leon mined for countless ages,
and relatively littlo Of 1t ever lost for conquest
goes in search Of It, cowatdce anrrendera it,.
and compromiBo fluids 1t moat convenient to give
up and to demand.
THE 1oanD1No or MONEY.
At a celebrated English Parliamentary inyesti-
CATION, a few years ago, the question WAS asked
"'What would be tho effect Of tho first shot
fred betweon England and Frnnce7'
Tho witnoss replied: 'Tho boarding up Of
%, 600. 900 OF francs over EUROPE
Lot mo give an instance Of tho same kind in
America. During tho late panic, said Btran-
gor to mo, I drow On D woll.known European
cabIo-aecoptanco. / received TWO $500 bills aud
SAD scattering. Said 1: tPleaae change one Of
these: gront American bills AZ 7 must
so out Of tho city to my family tonight He
So ran around New York greatly perplexcd; !;
full Of money, but without tho bills Of small de-
nomination to pay my steamboat faro. After
eoxhausting all general resources, applied to a
friend: Bon Dieu Help me out Of this nm
cause when foresaw or folt this panic coming,
drew out Of my bank $4,000 and hoarded it
up.'"
"Thus, the greatoHt banking firm keeps it's
supremacy by buyiug gold constantly iu quiet
gold is boarded in times OF panic. Gold is ca
pricious as tho human spirit. It Is tho currency
Of the ages. You must destroy tho o]deat au-
perstition Of men before you can put anything
doao to saye themselves in 1878 II papes werc
France" sald tho Marquis do Chambron,
+" is tho nation which bringH out gold tho quick
has novor disionored hor obligations, whatovor
the class or race Of the beneficiary. Her last
loan brought 68 francs on 80 francs. The Bank
Of France is the most approved bank iu Europe
because 1t behaves closest to the etiquette Of
realistic and civilized banking it docs not, like
your American banks, or tho Bank Of England,
invest any OF it's surplus In real estate but tho
amount Of Investments In the best negotiable
buAinoBs-paper determines its circulation. It's
general aucceast considering our many disturb
ancea, is creator than TINT Of the Bank Of En-
gland. If it held merely mortgageB on land aud
houBos, and thore WIS sudden run upon it, itB
circulation wonld bo exhausted but, as it's
1oans are on business.paper, 1t has An elasticity
OF circulation for 1t can increase it's currency
when there is most need.
70 show . relation between the amount Of
currency and tho ueeds Of d nation for it,"
said the Marquis, finally, !" IL the problem of
Equaring the crole. There is no limit to tho
amount of money which panic will not abaorb
But to do any banking. upon d basis Of paper
which nlakos no pro1niBes Of redeemability in
specie, is to invite panica, and meet them with
now expansions, which again will be absorbed in
timea Of panic, That is tho dinerence between
your merchants and those Of Europe. The
American merchant would like the Government
to help him out of lis need, without inquiring
about the legitimacy Of tho help isBued. But
nobody cuts loose from q gold aud silver basis In
Europe without some distinct Understandings"
THE AMOUNT OF GOLD tn THE WORLD.
The movement OF gold aud tie amount Of It
pretenaionB, ana nothing could alarm tho owuerB
Of gold more than to reed Mr. Doutwoli's report,
tue United States, viz. that tho principles Of
political economy do not apply to tie purposes
Of our Government. Tho test question aBled
OF witness Is, :" Do you bolloye in Supreme
Being and . eysten Of rewards and punish
monts9" II he do not, he is thrown out Of court.
In likomannor, Tho Jury Of mankind will throw
any Board Of Exchoquer. out OF court which docs
NOT believe in gold as tho standard Of money.
Joseph 8. Wilson, Law-CommiBsioner who
bad less timo than moro reccnt, Commissioners
to doat railroad grants over mems {armB, B,-mado
q compution OF the gold-yiold aud tho gold-ag-
gregate Of the world in 1867, Ho tabulatod tie
glod and sauer as about $o,107, ,725. $3.50
inptore since its discovery; the gold alone being
%, o60, ,655, ,ooo the silver being nearly twice the
gold IN amount. He estimated the yield per an
mum tor North and South America to be Gold,
$40 1000 600 year, aud silver Sol, ,000, 900. Aduing
tho gold and silver yield OF Europe, Asin, Africa,
and Polynesls,, hs estimated tho total amount
mincd on the globe since Columbus, ct, III, ,0o0,-
900 gold, aud sd,G6Q ,Q10 900 eilvor. lie alao
ventlrod a guess at the gold and silver existing
prior to tho discovery Of Amorlca, and estimated
Il as low AZ a6o,ooo,ooo gold and s1Ao,ooo,0oo