The weekly herald. [volume] (Cleveland, Tenn.) 1876-1888, 1879-11-13
Among the Gold Bars.

"A gold coin is worth its value the
world over said an official at the Phila-
delphia mint.
But sovereigns and ~napoleons do rot
circulate in this country. What, then,
becomes Of them after they get here2'
Come in here said the mint official,
leading the way into a little strong
walled chamber, without a single win
dow in 1t, looking much, in the dim light
ofthe gas, like an enlarged edition OF. a
safe. There were hundreds Of chunks
Of smooth, bright yellow metal piled up
on half a dozen small trucks. These
chunks varied in size. One might be
lifted with one hand. Another would
require two hands. Others could not
be lifted at all.
There said the official, placing one
Of the latter in the visitors hands, Gift
that 1t was lifted accordingly. 1t
was a good lift, too. There are about
IS, 0O0 in that piece said the official
Move that truck once he said, with a
ely expression OF countenance.
The most vigorous effort that could be
mustered up failed to make it bulge
Upon it lay seventy or eighty of those
shining chunks Of metal.
There are about 81. 600, 900 worth Of
gold in what you see here-yes, over
two million. These have been chiefly
English sovereigns and French napole-
ons. They came here from the govern.
ment assay office in New York, where
they are melted up. Exporters receive
them, you see, in payment for goods,
and send them to brokers, who in turn
send them to the assay Office, where they
get American gold eoin for Them
Further talk showed that the govern
ment is accommodating enough to ex-
change for the foreign money either
American coin OF gold BRICKS or gold
in whatever shape the owner OF the coin
might desire. OF course this has moth
ing to do with the transactions OF the
American exporter, who wants what he
can make Immediately available to the
wants OF his business-tho gold dollar.
All the foreign coin thus received in
New York-or at least the bulk OF it.
goes to the assayer's of1cs there for ex-
change. Here the clock-work method
that characterizes all the government
departments steps in.
Not a single foreign coin Of all the
millions that go there yearly is passed
or paid for until its value is ascertained.
To do this involves some work. Weight
and quality are the things sought
1t is first weighed, then put in a pot and
melted. Sometimes the pot absorbs
some Of it, and then it has to be broken
up and melted itself. If there is even
so little as on eighth OF an ounce absorb
ed the pot must be broken and that
precious morsel eliminated from it,
After it is melted it is weighed again.
Allowance is made for the slight loss il
must necessarily sustain in passing
through the crucibles, and, with this
allowance, it must exactly compare with
its original weight as a coin. After its
value is thus ascertained the broker, or
whoever brought it there, receives its
equivalent in American gold, or gold in
any other shape he may wish.
Another consideration obtains in the
melting-up process, and this is to make
sure that no counterfeit coin shall be
palmed off on the government. Rarely
does this occur in the case of gold coin,
for the reason that the brokers and
others who bring them there are gener.
ally expert in detecting counterfeits
themselves; but in the silver Mexican
dollar it frequently happens; more 80
probably than in any other coin OF that
denomination.