Iowa County democrat. [volume] (Mineral Point, Wis.) 1877-1938, 1891-01-16

sails about the same time.
PRECAUTIONS UPON PRECAUTIONS.
Of course there is big object in doing
this, because it 10y some mishap the
steamer carrying the specie should go
down the insurance policy would still be
all right and the unfortunate insurance
company would still be responsible; be-
sides, the duplicate bill of lading will fur
nish indubitaole 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 carried by a
truckman, who makes a speciality of this
sort OF a business, to the railway station
for shipment 70 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 certain to get to the steamer as
the hours are to come round. Besides, the
Tobber who has the BAL Judgment to try TO
run eff with keg of guii would tire out
before ne got very far away with his booty.
Upon the arrival of the treasure at
southampton or Liverpool, as the case
may be, the gold Is put aboard the steam
er and carried below TO the iron or steel
enclosed apartment known as the mail
room. Just as soon as the specie gets
aboard the steamers purser takes charge
of 1t, and thenceforth until it Is landed
the steamship company is responsible for
1t to the conslgnor and the purser is re-
sponsible for it to the company.
The mail room ditfe4s in size on the
various steamers, but they are all about As
strong as iron or steel can make them-in
fact, they are veritable safes built into the
steamer, and may be opened only 10y the
purser. So you see there is no divided re-
sponsibility here, for the purser is the only
one who has the keys. and he usually
knows how to keep them pretty safely.
Once locked up the gold remains undis-
turbed, unless by remote chance a key
should be misplaced. This has never yet
| occurred, but should it transpire in the
future the steamship company can only
come up to the banker office and settle.
WHEN IT ARRIVES IN PORT.
| All the steamships which carry the mails
| also carry gold, and as the transportation
of 1t is extremely profitable, the rates even
| now despite very vigorous competition be-
ing one-eighth of one per cent, the bankers
| have little else to do than to select the first
steamer which leaves 20. t. By mean. of
/! cabiegramS the Conslgnee is informed at
| what time to expect the treasure to arrive
| and he has his truckman 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 enc man who does
| this exceedingly responsible work. He is
John Barclay, whose trucks have CARR I'd
| from the steamers to the bankers offices
enough gold and silver to have paid off the
! national debt He doesn't ALWAYS 60 to the
| bankers offices though, for in the mai )ritv
of cases he takes his precious load accord
| ing to instructions direct to the assay of
| flee in Wall street.
There the entrance is made through the
big gates at the west of the building be-
tween the assay of flee and the sub-treas-
| ury. The gates clang to again, and that
| lot of gold goes in never to come out again
IN exactly the same form. 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 it actually becomes the prop
erty of the treasury department of the
United States government. For it must
not be supposed that it is put upon the
money market in either soveregns or in
| our own species when i; 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 impressive in appearance, they
are capable of doing a big lot of work.
| They can accommodate very nearly
thousand POUNDS, and will also Indicate to
| a hair when there is only grain on their
| plates.
THEY GET THREE-QUARTERS VALUE.
When the banker or his properly accred-
| tied representative calls at the assay office
| he presents his advices and the gold is
weighed upon Mr. Grahams scales, the
| banker is given a check upon the sub-treas-
ury next door in amount to represent three
| quarters of the value OF the gold in ounces,
| the remand der payable after the gold has
been assayed. This is done for the con-
| venience of the banker, who may wish to
| use the money right away, and for the
protection of the government.
1t can usually be determined very soon
by these experts in the assay office wheth-
er the gold given tfem is of fine quality or
| not, so they don t take many risks in MAX
ing this advance. The custom has been
| observed for very many years, and there is
yet to occur anything to make change
advisable. As soon as the banker receives
his check upon the sub-treasury his inter
est In the transaction practically ends. OF
course he is interested in the one-quarter of
the value of the gold which is still coming
to him, but his main object, that of secur-
ing the gold to meet the pressing demand
of his customer, is accomplished Upon
the presentation of his cheek to the sub
treasury he receives his money in nice
new gold c irti6cates, in gold coin or what
ever else he may choose.
HERE is $4,000, GOO 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 publication
by fire takes place in a mighty short space
of time. Then the molten metal. relieved of
all alloy or other extraneous mater, is run
into forms. producing when cooled pretty
yellow blocks of the gold about three in
ches wide by FIVE inches long, and two
thirds of an inch thick. These bricks.
valued at about $4,000 each, are slowed
away in small oaken boxes with heavy iron
handles and placed in the assay office,
where there is just at present something
like s22 100000 in refined gold.
The method Of res hipping gold to Eng
land and the continent is practically the
same. The demand is made upon the sub
treasury for the amount of fine gold bars
This is taken in next door, presented and
the treasure handed out and carted away. 1t
is in this way the jewelers. are supplied
with fine gold, and it is this case 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, it is
thought, and flow the other way. Then
the rates of exchange will be low on the
other side and accumulation OF the pre-
cious metal will begin there.-New York
Herald.
FUN ON BROOKLYN BRIDGE.
If They Thought He Had Been Drinking
They Were Dead Right, see?"