The Columbia herald. [volume] (Columbia, Tenn.) 1850-1873, 1873-11-21
GOLD AND THE RoTHsoHnps.

America. do not pretend to be exact
in this remembrance of some quite no.
vel matters:
Mr.. August Belmont being mentioned,
the marquis said:
"What is Mr.. Belmont? He is most
notably the person charged in America
with instructions from the Rothsohilds
as follows:
BUY GOLD FOR Us WHENEVER YOU CAN.
The Rothschilds have thus been drain
ers and hoarders of gold for years they
take it in all the time, and let it out
when nations need it or other people
begin to hoard it. In 1888, when young
Theirs (or his factor went to Frankfort
to get eighty-odd millions of francs
(perhaps dollars-Narrator) for the
French government, the chief of the
Rothschilds there said: There will be
no difficulty about this dismiss it from
your mind, except in this respect: we
would like you to be present this even
ing when we call together the represen-
tatives of the Jewish houses which SUP.
port us in our loans and credits
"'That is unnecessary and awkward,
and will embarrass the result, said the
Frenchman.
"'Not at all. These people know the
basis of our banking-specie, and specie
IS the speciality of our tribe. They all
have confidence in us, but, at a time
like this, we wish you to add, by your
official presence, confidence to our rep
reservations, for these Jews know where
the specie of the world is boarded in
revolutionary periods, and, if we lose
the confidence of our IsraeIitish bankers,
nobody else but they could find that
specie
Therefore, as expected, the Jews
gathered in the evening, and the Roths-
child on the spot said: I'VE have nego.
tiatei loan for the new citizen king
of France to such an extent. We ar5
accustomed to rely upon you, and now
bring you here to give your assent, il
you will, to that in which we have full
confidence
"The Jews nodded their heads af.
Tentatively. Theirs was so profoundly
impressed that, after the upsetting OF
Louis Philippe, whom the Rothschilds
had well supported, he said to his bene.
factors of fifteen years before:
Ibid you not feel crippled and ap.
prehensive the year of Louis Phillippe's
downfall p
"' Yes, for six months we did. But
| those Jews, our brethren, whom you
saw in '33, knew where most of the i'm
measurable gold boarded up in Asia
was secreted. They sent to all the Jews
in China, India, and all the Mongoliar
and Malay nations to produce it from
their hiding places. Responsive to that
call, which was confidence in itself, the
money came. 1t saved the house OF
Rothschild.'
"Specie is the basis of the social and
political world. Gold has been used
for countless ages, and relatively little
of it ever lost, for conquest goes il
search of it, cowardice surrenders it,
and compromise finds it most oonve.
nient to give up and to demand"
At a celebrated English parliamentary
investigation few years ago, the ques
ton was asked:
"What would be the effect of the
first shot fired between England anG
France?"
The witness replied: 1.-THE boarding
up of 1000, 100000 of francs over Eu
rope"
Let me give an instance of the same
kind in America. "During the panic.
said stranger to me, 81 drew on a we'll
known European house for 81 ,O29 il
currency previously insured by a cable
acceptance. Ireceived two $500 bills
and $29 dollars scattering. Said l
| please change one of these great Amer
lean bills, as must go out of the city
to my family tonight He replied: q
| cannot. Currency is not to be had Sc
I ran around New York greatly per.
picked, full of money, but without the
| bills of small denomination to pay my
| steamboat fare. After exhausting all
general resources, I applied to friend
Bon Dieu! Help me out of this III
civilized extremity He said: Il will
because when foresaw or felt this
panic coming, 1 drew out of my bank
| $40, 900 and boarded it up"
Thus, the greatest banking firm
keeps its supremacy by buying gold
| constantly in quiet times, and by know
ing where the vast excess of gold is
| boarded in times of panic Gold is ca.
PRECIOUS as the human spirit. It is the
| currency of the ages. You must destroy
the oldest superstition of men be,
fore you can put anything in its place
What could the Rothschilds have done
to save themselves in 1S48 if paper were
the staple of money?
France" said the Marquis de Cham
| brOn, els the nation which brings out
| the quickest and cheapest, because, IL
| fifty years, she has never dishonored hel
| obligations, whatever the class or race
of the beneficiary. Her last loan brought
fifty-eight francs on fifty francs. The
bank of France is the most approved
bank in Europe, because it behaves
1 closest to the etiquette of realistic and
civilized banking; it does not, like youl
| American banks, and the bank of Eng
land, invest any of its surplus in real
estate; but the amount of investments
| in the best negotiable business paper
| determines its circulation. Its general
success, considering our many disturb
ances, is greater than that of the bank
of England. If it held merely mortga-
ges on land and houses, and there was
sudden run upon it, its circulation
would be exhausted but, as its loans
are on business paper, it has an elastic
ity of circulation, for it can increase its
currency when there is most need"
"TO show a relation between the
amount of currency and the need of a
nation for it, :" said the marquis finally,
"is the problem of squaring the circle.
There is no limit to the amount of mon
ey which a panic Will not absorb. But
to do any banking upon a basis of paper
which makes no promises of redeemabil-
ity in specie, is to invite panics, and
meet them with new expansions, which
again will be absorbed in times of panic
That is the difference between your
merchants and those of Europe. The
American merchant would like the gov
eminent to help him out of his need,
without inquiring about the Legitimacy
of the help issued. But nobody cuts
loose from a gold and silver basis in
Europe without some distinct under
standing.-Gath, an Chicago Tribune.
Railroad Retrenchment.
This subject is thus sensibly discussed
by the Railroad Gazette Obviously,
there is such thing as a blind and stu
pid curtailment of expenses. In order
to save a hundred dollars a Thousand