The diamond drill. (Crystal Falls, Iron County, Mich.) 1887-1996, 1891-02-07
GREAT TREASURE SHIPS.
HOW GOLD IS CARRIED ACROSS
THE ATLANTIC.
u Is Sery Practical Proceeding. EatireIy De-
void Of Rcmanee-- Ensiish sosereigns
Converted Into Gold Bricks az
the American Assay once.

sweeping through the Spanish Main.
stories OF tho millions that were wrest-
cd from the meas or from the splendid
temples OF Yucatan. tabled cargoes OF
bullion from III Dorado -all that
romance has told the world OF riches
OF gold and silver seems like savago's
dream OF plenty when compared to
the wealth which is carried to and fro
by the Atlantic liners OF to-day with
out even aronsing a passing comment
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 90 upon the ocean
from week to week. says the Detroit
Free Press, but the amount OF sover-
cigns or OF the beautiful double eagles
OF our own country which pass from
England TO this country or back to
England again in a single week now
adays would represent the total spoils
OF Pizzaro and a Cortez combined.
In the first place. when the rates of
exchange are very low on this side. ms
they are at present. tho 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 importer OF silk
would request his agent on the other
side to ship him 100 pieces OF Lyons
silk The visit on this order is taken
TO Thrcadneedle street by the CORE
spondent and the requisite amount OF
the precious metal Is ordered either
by drafts or upon the presentation OF
bank OF England bills for the amount
IL the gol can be secured in either
fine gold bars or in American double
eagles, the transaction, so far rs the
bank Is concerned, is done. But II
the bank declines 70 part with any OF
those. then the demand IL made for
the payment OF the order or bills in
sovereigns. IL is here that some OF
the complication OF details come in.
For, Notwithstanding the general inn
preston that English sovereigus are
always new and beautiful, many OF
those in the great vaults which are
available for shipment are neither, for
circulation wears the English coin
quite as much as 1t does ours. So In
stead OF receiving the number OF SOW
ereigns in soyereigns that the demand
is made for the old soveceigns are
dumped into big scale and weighed
like so much sugar. Then when the
amount in what Mr. Swineburne calls
1.-THE ruddy red gold'' is measured out
the correspondent puts himself in
communication with the New York
banker and says that so much gold at
such and such price is held subject
to his instructions. 10 doesn't take
long for cablegram TO get across 10
order prompt shipment. and
over the specie comes on the next big
mail steamer.
Here again tho similarity OF ship
ment to that OF ordinary merchandise
is evident The gold Is taken from
the bank in canvas bags TO the brokers
or bankers Office and repacked In
small iron-bonnd kegs. A visit Is made
then TO an insurance company's Office
and the contents Of the little kegs is
insured at rate OF about one-eighth
OF per cent A couple of bills OF
lading are secured. and one OF these Is
shipped with the gold and duplicate
Is put in an envelope with the insur-
ancc policy and sent across by mail
steamship which sails about the same
time.
PRECAUTIONS UPoN PRECAUTIONS.
OF course there is big object In do
Ing this, because II by 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 re-
sponsible; 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 art
cd 10y a truckman who makes spe:
cialiy OF this shipment 10 Southamp-
ton. The gold is placed in the mail
car with special guard, and as there
are no road agents OF surprising pluck
in England. the gold Is about rs GER
tain To get 10 the steamer Ss the hours
arc TO ome around. Besides. the
robher who has the bad judgment TO
try 10 run of with a keg OF gold would
tire out before he got veey far with