The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1885-08-26
THE TRANSFER OF GOLD.
A Costly Step for Which No Warrant Ex-
isted.-Kecalling Small Bills.


Costly Step for Which No Warrant Ex-
isted.-Kecalling Small Bills
Washington Special.
The transportation Of several millions of dol
lars in gold coin as registered mail matter from
San Francisco to New York, by order of United
States Treasurer Conrad N. Jordan, has excited
much curiosity here as we'll as elsewhere. Until
very recently the fact that so important a trans:
fer Of government treasure was in progress was
known only to a few trusted employees of the
Treasury and Postofice Departments. Absolute
secrecy enjoined upon those few officers. for
fear. it is said, that the knowledge that many
millions Of dollars of hard cash were being
moved in railroad cars across the continent
would tempt the cupdity of desperate road
agents and train -wreckers.
Persons here who have observed with steadily
increasing interest Treasurer Jordan's restless
activity in his new sphere of action regard this
transfer of god from the Pacific to the Atlantic
coast with surprise. Men who have grown gray
in the service of the Treasury Department can
see no necessity for such step They say that
the transfer is not only unnecessary, but that it
is both costly and hazardous. Special cars have
to be chartered to carry the gold, and the fact
that Mr.. Jordan directed that the movement De
kept rs secret as possible shows his appreciation
OF the dangers involved. Since the 1st Of last
June $12, SOC, 900 of gold coin has been trans
ported from the San Francisco s1b-treasury
to the New York sub-treasury. The golden
stream is still silently flowing eastward, and
nobody-unless it is Mr.. Jordan-appears to
know when it will stop. There is now about
$50 900 600 of gold coin in the vaults of the New
York sub treasury--a much larger quantity
than was ever there before. That amount is
exclusive of the $4,000 Of gold which was
recently advanced to the government by New
York bankers. 1t is a curious fact that while
Treasurer Jordan was stirring up the New York
bankers by lntimations that the government
might be- obliged to pay its balances to the
clearing house in silver certificates the sub
treasury in New York was receiving every few
DAYS consicnments of gold from San Francisco.
1t is credtable to the discipline and prudence
of the employees who have had the handling or
this great amount of gold In its movement
across the country that they succeeded in trans.
porting about $4,000 900 of coin from San Fran
cisco to New York before any knowledge Of
what was being done became public. The coin
has been shipped in stout boxes, some contain'
ing $500 600 and others $500. 0OO
Mr. Jordans reason for aceumulatiDg so much
gold coin in New York is matter of conjecture.
Scne of the most experienced men in the Treas
ury service privately express their astonishment
at the movement They say the transfer is
absolutely unnecessary. The great danger and
the expense of moving $l2 00O 900 or $l3, 600 900
of gold coin more than 5000 miles overland
might have deferred less brilliant man from
making the transfer.
One of Mr.. Jordans latest performances is the
recalling from the varaus subtreasuries Of all
the 81 and 50 bills. A few weeks ago he wrote
to the assistant treasurer at New York, IN
structing him not to disburse any bills OF the
denomination named Early in the present
week Mr.. Jordan directed that all of the 81 and
So bills in the New York sub-treasury be sent to
Washington, and. accordingly, little over
$lOo 900 was sent on here. 1t is understood to
be Mr. Jordan's policy to force silver upon the
country by withholding from circulation all of
the small bills that come into the possession OF
tho United States Treasury.