The Dallas daily herald. [volume] (Dallas, Tex.) 1873-1887, 1884-03-14
WHY GOLD Is GOING ABROAD.

| No matter now enou the paper currency
of \ country may be. or how much more II
may oe used and even preferred in the
ordi lary business transactions OF the day,
theirs nre always certain great demands for
gold, contracts cplli g Tor gold specifically
and tina. cannot be met with an equivalent
even. OF any character whatever. The
plentiiulness or scarcity, therefore OF gold
| In a country is always q matter OF concern,
even though that country's paper may BIZ
abundant and on par with the most
prec GUS OF the metals. The loast redun-
danny or scarcity, too, from this fact is
always and at once seiz,d upon by the
brokers and spectators to ron up or de.
preciate other money, M She case may be,
IN comparison with gold, 80 that we now
Gee this one OF the precious metals again at
premium with us, in the face
OF the best paper currency in the
world, with IN unsurpassed government
credit bsck OF IL, the aimp cause
of the fiuctuation being the shipment
abroad OF some SIS, 900, 900 or $50, 0o0 coo only
In double eagles within the past month or
so.
| In view of the fact that such fluctuations in
the value OF currency, however slight, cause
more or less suffering, confusion and loss,
sending these millions of gold out OF the
country. A writer in the Chicago Times
recently in an article heretofore criticized In
these columns seemed to fear that the re-
duction OF the volume OF the treasury re-
serve" would depreoiate the currency and
scar gold away, q good currency invariably
refusing 10 associate with bad one, but we
apprehend that the secr,t of the shipme
OF current gold abroad is found in the very
continuance of that fancied reserve -
more properly known as the "hoardsd
eold"-cf the treasury. In other words We
differ diametricslly with those who think
that the continuance Of this cash bslsncs
In the treasury Is necessary to prevent cur
rency fluctuations and deprecia ion.
The presence Of hundred millions Of
gold in the treasury vaults, lying idls and
never called for, indicates plainly two other
facts: Firss, that there is or has been all
along . red undancy Of gold In the country.
No other nation on earth has found gold 90
plentiful that Il has been able to draw $780,
co., 900 OF Is into the vaults Of the treasury
and never. comparatively speaking, have
csll for Il; second, the fact that there 10 no
call for it indicates that the people do no,
want Il In circulation. but prefer. In fac.
The paper substitute for money, the 6ess-
ury and bank note and the specie certii.
oates As this balances is thus. to be upon
demand exchanged for the paper currency.
1 would soon get into the arteries OF trade
did the public prefer 1t to paper.
These two facts being granted. that there
IL q gold redundancy In this country
and, that there IL no demand for IL,
II follows In most natural sequence
that exports OF the metal will occur to al
countries where the same conditions do no.
exist that art ,.suod here. II will 10 wbsrs
there is the greatest demand for it. where
equally as good currency ne gold, and In
plentiful supply. does not crowd II out or
., Lest render Il super6aity. Hence tue
shipment abroad within IN excesdfnsly
shors period Of some e9o.ooo.ooo in double
essIes. A. 10 The premium which hes