The daily gazette., 1882-02-07

The ALARM ABOUT GOLD EXPORT
Commenting Ou the alarm which has
been exI rsssed upon the export of gtld,
the Now York World says Sin n any
quarters there bal been a disposition to
magnify the possible effect on our own
N arket OF the collapse of the Union
GenGr4le. This, which woull be repre-
hensltle OF any time is particularly so
now, the situation sffordlng no ground
whatever for alarm excepting to NJ turAl
burn betrA. All the hue and Try about
trou blesOme times ahead has bsen based
on the probability of a large export
movement of gold. In fact thus far less
than 81, 100000 have left the coun' ry
| and only rart of tina. amount was ex-
| ported by reason OF the collapse on the
| Paris Bourse. But as we have aided
va I sums to our hoard of specie during
the past fsw years, bo h from our uines
and by impoi t-tlons from Europe, aud
as the country is securely fixed upon a
metallic basis, there Is no cause whi t.
ever for falling iLt0 spasms the u on ent
the question of an export movement OF
gold ls broached. On the contrary, it is
time for Am, ricans to undo rstand that
in tue matter OF goli expo rtations, as in
all other ma ttrg Of public impor ance,
this country now hold Its own through
any weather as W.T. II as II not better than
any of the grta5 nations of Europe. A
few Ia istics, showing the enormous
| additions made within comparEt vely
short period to our stock of the pt ecious
| metals, will demons IA much more
satisfactorily than any argument can
| the a 81 lity OF the U uiteu st ,tes " thout
peril to Ourselves TO sapl ly Europe with
gold whenever ASST tan 30 there may be
naeded, and the CT rtaInty also tnst We
sha always ave the power to draw the
gold lack asa'n y heneVer the European
crisis is over. For the ytar " hich ended
June so, 1880, our imports OF coin and
| bullion exceeded the txpCr5s by S75,-
| S9l ,39l, and tor The succeeding nsOal
year the excess of our import, WAS SOL .
los, $50, making net gain to the couu-
try from foreign sources alone FIR the
two gears of Sl67 $50 04l, the whole OF
which va amount SUD tint ally we
still hold. 1t aust be rsmem Ot cd also
tnat the production of our mines, "A
great proportion OF which We have re-
tanned, amounted to S8l, 1888 474 in 1881,
to ST ,232 ,5l2 IN 1880, TO 81 ,6SS, 1888 IN
1886, a d TO SO, 276, l67 in 1878. The in
crease In the gold aud silver coin circu-
lation of the UAt5d Stat has been T, g.
Ina:kable during the AT 70 " years, and
tina Director Of the Mint In his Ia & II
port showed tba the 'hard" money in
ciFou alton on November /, 1881, was
S649, 563, o5l. BnItherm0rt AT the time
Just mentioned the mi uts OF the cout 8
try aud the Assay Office in tnls city
held neatly S99, 900 600 OF bullion, maxi
ing the stock If com, aud builon avail.
able for coinage, S749,00 000-a sum
equal to Sl4.93 per capita of all the PEG.
De IN the cOun ry.
These figures make speoulations about
the great danger threatening the coun-
try from au export movement Of geld
ridiculous. When va consider, turint r
more, that not withs landing the check
inflicted upon the business of tue cour-
try by the events OF lat summer, our
exports OF merchandise exceeded the
imports for the six moths which ended
December 81 last by over S6j 200, 600, II
will be seen that there is absolute ly no
BARS for the current predictions OF dis.
aster.