St. Landry democrat. (Opelousas, La.) 1878-1894, 1891-09-26
MILLIONS At SEA.
HOW SPECIE IS SHIPPED TO
AND FRO ACROSS THE OCEAN.

In one Ibtlc tlgntlf-lOchcu room oH
many of the large ocean steamers there
frequently goes over treasure large
enough to buy the entire steamer AID is
fittings several times oyer. The lltl!c
chamber is the gold room or treasure
chest 1t receives it precious freight at
tho last moment before the steamers
start, and its contents are the first por-
ton of the cargo to leave the ship when
she has been securely hcrthcd. During
the recent rush Of gold abroad, the
strong boxes have been kept in very
active use, and the purscrs of the scTcraI
ships have had corrcspondingly increased
responsibilities placed upon them.
Contrary to the general notion, ship,
per of gold docs not 70 to the Suo,
Treasury in New York to get coEsiga-
ment Of gold simply because the Govern
ment keeps its supply there for the
payment Of its legitimate obligations. ii
is not an exchange Office in the sense. Of
taking any sort OF securities or Icgsl TIM
der and giving out gold coin instead.
If gold certificates are prOtiercd gold
may be had. and it is as q member Of tie
Associated Banks, doing business through
out from the sub Treasury into the hands
Of the several banking institutions.
They do not keep all the coin OF bars or
whatever shape the precious metal may
be in their own vaults, but instead en-
ploy the great vaults Of the Bank of
Moth America which has become BIZ
general arrangement between the several
banks a sort Of depot for the deposit Of
gold. There is Il sort of a cooper shop
attachment to the bank as well. and a
bag factory, too. The barsar strongly
scwcd snug little affairs Of stout canvas.
Into each one $, 600 in gold coin is
placed s. pieces if no other sort is to
be had, and SEQ pieces in preference.
because then the surface of abrasion is
less and the loss from this cause is ycrr
much reduced. The specie kegs are
made Of hard wood and have an extra
iron band about them. There is room
in the rear of the bank specially set
apart for the packing of the specie. and
the operation is witnessed by q repre-
sentative of the shipping firm which has
received the coin order from abroad and
upon whose order the shipment is max
ing Ten bags Just fill key, and when
the head has been put in by an attendant
cooper tape check is applied, four
holes are bored through the ends Of the
slaves above the head and bottom OF the
key and red tape run through and the
ends brought to common point at the
centre Of the head, where they are sealed
by grest batch of wax, bearing the
seal of the shipper A stout. low cart
stands outside the door Of the bank, and
on this the $50, 900 kegs are placed. A
couple of men Jump on with the driver,
another couple perhaps look on and fol
low along, and the treasure moves off.
\ single truck will carry as much as
forty kegs, or 1000, 600, and a fixed
sum per keg is charged. The delivery
to the steamer is simply as other freight,
SO many packages, contents declared,
but not vouched for BY the receiving
steamer people. The marine insura nce
companies will insure at the rate of
about 50, 900 on million dollar ship
ment. Each shipper has different no.
ton of doing his business and many do
not insure at all. The steamer is desig-
mated. and as an extra precaution large
shipment, say of a million and half,
may go on as many as five or six various
boats. It is on the simple rule of not
intrustine too many eggs to one basket.
If foreign hoarders of gold would
trust Uncle Sam to the extent of be.
lieving that gold certificate really
meant that gold piece would be kept
ready for its redemption then the vault
lug away of these yellow backed bits Of
paper would answer every purpose, but
Russian and English bank men do not
take oh noes in that way, and the con-
sequence is the Juggling back and forth
Of the gold to meet balances as is the
current expression, but really to satisfy
the mood of foreign bankers who take a
notion now and then to demand some
thing tangible, AS gold coin or bars.
With bars duly stamped as to weight
and f1ncness in the U. S. Assay office ad-
Joining the ub-Treasurv the same kegs
are used, but instead of canvas bags
closely packed sawdust is used to keep
the bars apart and the loss from abrasion
is reduced to a minimum. 1t is all the
same nominalv to the Bank of Eng gland ,
where the English drawn gold goes,
whether it be in coin or bars, since all
goes into the melting pot, to be used if
necessary for English coin, and the de-
positor receives certificate of deposit,
good for so much gold, just as the as
sociated banks here get from the Bank
of North America certificate of deposit
GOOD for each banks proportion of the
twenty to forty millions of specie kept
in safety there.
What a magnificent chance for grand
bit of highway robbery the shipment of
some one may say. Not bit of it, The
first intimation of ANYTHING Of the sort
would be met by fusllade OF pistol