The Wheeling daily intelligencer. [volume] (Wheeling, W. Va.) 1865-1903, 1884-02-07
SUAkClrY OF GOLD,
Some Theories nq to the rreyent Where
nbouts Of the Yellow R0yS.

Some Theories nq to the rreyent Where
nbouts Of the Yellow Boys.
CHICAGO, February 6-To the question,
"Where is our gold going?" propounded
yesterday to several bankers and exchange
merchants, various answers were returned.
"Gold is going out Of circulation" said a
prominent banker, "because no one wants
to handle it. It is cheaper to get notes
than gold from New. York-the cost OF
transportation is less. Moreover, there is
always loss by friction in handling gold.
The answer to your question is that people
want to avoid the trouble OF handling gold,
and are continually pushing it out Of cir.
calation. To country banks and other Gus.
toners Of ours We always prefer to give
gold, 80 as TO get rid oft, but we find gem
eral repugnance to accepting it." y.
"Where il the gold ?" said the cashier OF
one OF the National banks. "Why, it is
locked up in the bank vaults Of the city.
That's where the greater amount has
gone. Then there il considerable gold sent
to the Sub Treasury in exchange ior Ger.
tificates, and finally the mechanics and
others who are saving money prefer gold
value, and those who save money naturally
prefer it to anything else. II the small
boards Of thousands OF families in this city
could be revealed there would be goodly
array OF gold. This habit ol saving gold
contributes, 1. think, to popular security"
noARDING UP GOLD.
~ think that there is mora boarding Of
gold than there has been for years." said a
;well-known broker -. f.
"More than during the war;" queried the
reporter. g- e
''Yes," was tho reply. "While many
held on 10 It then because they had no
confidence in the paper money, yet most
were tempted by the high premiums, and
sooner or later disposed Of what they had
stored away. Now, however, gold is not
worth any more than paper, and that
temptation to sell the one for the other
does not apply. When it comes 10 hoard
ing, gold beats paper every time. The one
deties the teeth Of mice and rats; the other
is all the while falling victim TO them.
Gold can be put away in an oven, or hid
behind the chimney, and there il no fear
that 1t will melt into smoke and ashes. It
is free from a dozen accidents to which
bank notes are exposed. - i.'=aS y'
E "Have you any idea OF the amount thus
taken out OF circulation ?" -. III
"That is something beyond all finding
out. Yet it must be heavy. The practice
is more common among the foreigners
than the natives. and this is foreign city
in many respects. Still it is possible that
there Is not as much in the stockings as
there was a year ago, from the :act that the
building associations which have had a
tendency 10 make them put into land what
was previously locked up at home. Those
associations have opened up new field OF
Investment, and great numbers have gone
into it. But In spite Of all that there must
be thousands Of Polish, Bohemian, Italian
and German families, each Of which has its
little hoard hidden away in some sup.
posedly safe hidiug-place." s. n
Other bankers who were interview ed
gave one or more Of the answers quoted
above, and none seemed to think that the
problem Of the retirement Of gold was
likely to assume serious proportions.