The Helena independent. [volume] (Helena, Mont.) 1875-1943, 1890-12-22
WEALTH ON THE Waves,
Golden Freighted Gallons and
Fabled Cargoes of Bullion are
Things Past
Treasure Ships Of These Days
Garry Weekly More Than
Cortee Dreamed Of

All the Romance Gone, HOwever-NoW
tho Transfers are Matters of
Prosy Commerce.
Tales Of golden freighted galleons sweep
ing through the Spanish Main, stories OF
the millions that were wrested from the In
cas- or from the splendid temples OF Yucca
tan, tabled cargoes of bullion from Ell Do
rado--all that romance has told the world
of riches of gold and silver seems like
savage's dream of plenty when compared to
the wealth which is carried to and fro by
the Atlantic liners of to-day without even
arousinR passing comment, says the New
York Herald.
OF course, such things as conditions of
exchange vary the great quantities of specie
which commerce or the financial conditions
of the world of trade command to 60 upon
the ocean from week to week, but the
amount Of sovereigns or of the beautiful
double eagles of our own country which
pass from England to this country or back
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days would represent the total spoils of a
Pizarto and Cortes com bined.
And yet this great shifting of the pre-
cious metals goes on from month to month,
from year to year, without arousing more
than casual remark. Tourists voyage
upon steamships which carry upon their
decks sufficient gold to plate the dome of
principality without mortgages. Orders
for million from the Bank of England
are events of so usual occurrence that they
do not cause the merest futter in the move
ment of trade; similar demands from the
other side upon our assay office are of quite
tell of the stores of bullion which Drake
and his followers and successors took back
with them to Elizabeth's England and Of
the gold-strewn bottom of the sea.
Yes, the romance is all out of the pursuit
Of wealth. Men do not now go forth with
Greek fire and culverins, halberds and
pixies to attack the spoilers of the Americas.
They simply cable their correspondents in
London, Paris, Amsterdam or Berlin to
send them a certain amount of refined gold
or specie, and over it comes on the next
steamship without any more ado. Iheo-
retically the simplicity, of this sort Of
thing IS beautiful, and when one only
recognizess the change from possessor to
possessor the system seems to be ideally
perfect. But in order to bring this result
and still to preserve the integrity of the
commercial relations there are lots of
things to do. Even with these precautions
and with the preparations of years, there
cure even 1.-THE of the gold needed to sup
ply the demands of the business commu-
nifty. Then a great inconvenience takes
possession of the financial world.
Such a condition of things has existed in
this city for nearly a month past. The
1uh01o hon lin 81 ~;k,,
was demanding gold, but because of ele-
ments of uncertainty in trade in England
and on the continent, our bankers could
not get sufficient quantity to supply the
demand. Though great efforts were made
to obtain from ENGLAND large amount.
England on account of the embarrassment
of the Earrings and the anxiety which pre-
vailed because of it that that great arbiter
of finance declined to permit any of its fine
bars or the American double eagles which
it constantly keeps in store to pass from its
possession.
With an additional supply from the Bank
Ct France, however, there became available
the more or less worn sovereigns in the
Bank of England's vaults, and at once a
number of foreign bankers in this city be-
gan to secure them for shipment to this
Majestic. which sailed from the other side
last Wednesday, is veritable treasure
ship, laden with millions If gold, which is
on its way here to ease the fear of our mer-
chants that there will be not enough cur
rent money to accommodate the exigenciss
of trade.
OF course these shipments on the Males
tic are exceptional. But they illustrate how
promptly great quantity of treasure may
be accumulated in case of necessity. For
it must be remembered that these millions
were pledged within not more than two or
ln,nCe
($25O, OOO) being secured on Saturday week
ago by Messrs. Seligman.
The method of shipment, the precautions
to prevent loss, the preparations made to
assure the certainty of its arrival. the in
surance against disaster by wrecks and the
many other perils of the sea, its passage
through various hands here before it is CON
verified into either circulation or the circu-
latinR mediuM-in fact, all the course which
the yellow metal goes through from the
time that the banker sends an order to his
European correspondent until it appears in
equivalent form in a check Of the assay
office here upon the United States sub treas
ury in New York should be of interest to
that great mass of persons who know that
the gold comes from somewhere somehow,
but have no conception Of Just how.
Go FIRST into consideration of this thing
with the understanding that bankers, while
wonderfully good fellows, are not in bust
Neoc 90 ACKNOWLEDGEMENTS 1u6y OO0'G
bring gold over here simply because YOU or
1 may want to buy Christmas presents.
They do it all to make money and for no
other purpose under the sun. So when Won
hear of great shipment of gold from the
other side depend upon it that some one is
making all the way from one-quarter of
one per cent to one-ha of ono per cent on
every dollar that is landed on these COM
paratively prosperous shores.
According to the present rates of exchange
the bankers make about $4,000 on every
$l,00O, 600 worth of the precious metal which
is shipped to this city. This, too, is upon
the mere rates of exchange. Besides they
make very comfortable sort of profit on
the loan of this money to those who are in
need of it. So when the community is cry
ing for money with the same fervor az the
children of Israel cried for food in the
wilderness, there is every reason why they
should be satisfied.
In the first place. when the rates of ex-
change are very low on this side, as they
are at present. the banker sends word to
his correspondent on the other side to ship
him SO many hundreds of thousands of
dollars worth of gold, just as Wholesale
imr o;ter OF silk would request his accent on
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