Pittsburg dispatch. [volume] (Pittsburg [Pa.]) 1880-1923, 1890-12-21

the unfortunate insurance company would
still be responsible; besides, the duplicate
bill OF lading will furnish indubitable proof
that the gold was shipped. Thus there is
very little risk attendant upon the shipment
OF the specie. After all these precautions
against loss have been taken, the gold is
carted by truckman who makes specially
OF this sort OF business to the railway station
Tor shipment to Southampton. The gold Is
placed in the mail car with a special guard
and as there are no road agents of surprising
pluck in England, the gold is about as GER
tain to get to the steamer as the hours are
to come around. Besides, the robber who
has the bad Judgment to try to run off with
keg OF gold would tire out before he got
very far with his booty.
Upon the arrival of the treasure at South
ampton or Liverpool, as the case may be, the
gold is put aboard the steamer and carried
below to the iron or steel inclosed apart
ment known as the maiiroom. Just as soon
as the specie gets aboard the steamers
purser takes charge of it, and thenceforth
until it is landed the steamship company is
responsible for it to the consignor and the
purser is responsible for it to the company.
A STEAMERS STRONG BOX.
This mailroom differs in size on the vari-
Gus steamers, but they are all about as
strong as iron or steel can make then-in
fact, they are veritable safes built into the
steamer, and may be opened only by the
purser. So you see there is no divided re-
sponsibility here, for the purser is the only
one who has the keys, and ne usually knows
how to keep them pretty safely. All steam
ships which carry the mails also carry gold,
and as the transportation of it is extremely
profitable, the rates even now, despite very
vigorous competition, being one-eighth of
one per cent, the bankers have little else to
do than to select the first steamer which
leaves port. BY means OF cabIegrams the
consignee is Informed at what time to expect
the treasure to arrive and he has his truck
man down on the pier ready to receive it as
soon as it arrives.
Every banker and broker in Wall street
knows that there is only one man who does
this exceedingly responsible work. He is
John Barclay, whose trucks have carried
from the steamers to the bankers offices
enough gold and silver to have paid off the
national debt. He doesn't always go to the
bankers Offices, though, for in the majority
of cases he takes his precious load according
to instructions:.direc to the Assay Office in
Wall street. There the entrance is made
through the big gates at the west OF the
building between the Assay Office and the
and that lot OF gold goes in never to come
out again in exactly the same form.
TRANSFORMED INTO DOLLARS.
The gold, still in kegs, is rolled into the
Assay Office on queer little trucks and goes
into the big room on the first floor, where
Mr.. Graham has presided with power for
SO many years. Then 1t actually becomes
the property of the Treasury Departmental
the United States Government. For it
must not be supposed that it is put upon the
money market In either sovereigns or in our
own specie when it arrives
On the contrary, in whatever form it
comes to the Assay office, it is taken and
dumped on the pretty brass scales which
tower behind Mr.. Graham's desk and care
fully weighed. These scales are worthy of
visit. While they are not especially i'm
prassiye in appearance, they are capable of
doing a big lot OF work. They can accommo-
date very nearly 1000 pounds, ana will also
indicate to hair when there is only a
grain on their plates. When the banker
or his properly accredited representative
calls at the Assay Office he presents his ad-
vices and the gold IS weighed on Mr.,
Graham's scales. The banker is given a
check upon the Sub Treasury next door in
amount TO represent three-quarters of the
value Of the gold in ounces, the remainder
payable after the gold has been assaved.
This is done for the convenience of the
banker, who may wish to use the money
right away, and for the protection of the
Government. Upon the presentation of his
check to the Sub-Treasury he receives his
money in nice new gold certificates, in gold
coin or however else he may choose.
TWENTY-FIVE MILLIONS IN PURE GOLD.
At the Assay Office the gold received is
taken to the smelling room and there tossed
into the big crucibles, where the purIfca-
tion BY fire takes place in mighty short
space of time. Then the molten metal, re-
lieved OF all alloy or other eXtraneous mat
ter, is run into. lorms, producing when cooled
pretty yellow blocks of gold about three
inches wide BY five inches long and two
thirds of an inch thick. These bricks, valued
at about S6 600 each, are slowed away in
small oaken boxes with heavy iron handles
and placed in the vaults of the Assay Office,
where there is just at present something like
SO. .000, 900 in refined gold.
The method of reshipping gold to England
and the Continent is practically the same.
The demand is made upon the Sub Treasury
aud an order is issued from the Sub-Treas-
urer for the amount in fine gold bars. This
is taken in next door, presented and
treasure handed out and carted away. 1t 10
in this way that the jewellers are supplied
with fine gold, and it is this ease with which
foreign countries can secure pure gold in
bricks from us that is just now making the
bankers of this city angry at the refusal of
the Bank of England to part with similar
gold. By the first of next month or little
later the tide OF gold will turn, 1t is thought,
and aow the other way. Then the rates OF
exchange will be low on the other side and
the accumulation of the precious metal will
begin there.