The Princeton union. [volume] (Princeton, Minn.) 1876-1976, 1891-01-22
GREAT TREASURE SHIPS.
HOW GOLD is CARRIED ACROSS
THE ATLANTIC.
~ Is Very Practical Proceeding, Entirely Do
void Of Romance-English Soverelgns
Converted Into Gold Bricks at
the American Assay Once.


sweeping through the Spanish Main,
stories of the millions that were wrest-
ed from the Incas or from the splendid
temples of Yuoatan, tabled cargoes of
bullion from Ell Dorado-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
ny the Atlantic liners Of to-day with
OUT even arousing passing comment.
vi course, such things as conditions
OF exchange vary the great guam titles
OF specie which commerce or the
financial conditions of the world of
trade command to go upon the ocean
from week to week, says the Detroit
Free Press, but the amount of sover-
elgns 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 u Cortez com bined.
In the first place, when the rates of
exchange 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 a 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 Ihreadneedle 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 tho amount.
If the gold can be secured in either
bne gold bars or in American double
eagles, the transaction, so far as the
bank is concerned, is done. But if
the bank declines to part with any of
these, then the demand is made for
the payment of the order or bills in
| sovereigns. 1t is here that some of
the complication Of details come in.
For, Notwithstanding the general i'm
preston that English sovereigns 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 it does ours. So in
stead of receiving the number of SOW
ereigns in sovereigns that the demand
is made for the old sovereigns are
dumped into a big scale and weighed
like so much sugar. Then when the
amount in what Mr.. Swineburne calls
'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 a price is held subject
to his instructions. It doesn't take
long for a cablegram to get across to
order a prompt shipment, and
over the specie comes on the next big
mail steamer.
Here again the 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-bound kegs. A visit is made
then to an insurance company's office
and the contents of the little kegs is
insured at a rate of about one-eighth
of l per cent. A couple of bills of
lading are secured, and one of these is
shipped with the gold md duplicate
is put in an envelope with the insur-
ance policy and sent across by mail
steamship which sails about the same
time.
PRECAUTIONS UPON PRECAUTIONS
Of course there is a big object in do
ing this, because if by some mishap
the steamer carrying the specie should
60 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
ed by truckman who makes a spe-
cialty of this shipment to Southamp-
ton. 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 wit
his booty.
Upon the arrival of the treasure at
Southampton or Liverpool, as the case
may be, the gold is put aboard the
steamer and carried below to the iron
or steel inclosed apartment known as
the mail room. Just as soon as the
specie gets aboard the steamers pur.
ser takes charge of it, and thenceforth
until it is landed the steamship COM
pany is responsible for it to the con
signor and the purser is responsible