The sun., 1893-06-22
GOLD COMING THIS WAY.
s90o,OOo SHIPPED FROM LONDON BIZ
Bring, MAGoUN C co.

HcNed 10 Have Been Checked-SOA, ,OOO. 900
OF Free Gold in the Trensury-Tho Depart
mrnt May Anticipate the July Interest on
Per Cent. and Pnciac Railroad Roads
WASHINGTON. June 21.-United States Treas
uror Morgan to-day received cublegram from
London saying that Barring. Maeouln & Co. Of
New York and London had shipped 100000
OF gold TO the United States. This is the first
shipment OF foreign gold in any considerable
quantity to the United States during tho pres
ent month, and is looked upon as showing
that tho tide in gold exports from this country
to Europe had turned. During the ecven
months ending May 81. tho amount OF gold
shipped from the United States TO Europe
amounted to S105.965.050. During the
same period gold was imported from Europe
to the amount OF 500 1914 $50, leaving a balance
against us in that period Of SS5.OO0000. Dur
ing tho ilve months of the present calendar
year. ended May 81. the amount of gold OK
ported was S71.003,044. the imports during
the samc period being S10.74o301. or q bal
anco against us OF S61 900 600 in round figures.
For the past three weeks no gold has been ex-
ported from New York to Europe. and. as a con-
sequence. the Treasury Department has been
gaining gold during that period tho net gold
balance to-day standing at S04 ,05O. $40. In tho
building up Of this gold tho Treasury Depart,
ment has redeemed nearly $0,00u.O0O gold
certificates. tho amount outstanding to-day
being S0s.O7O,O0O. against SlO4.OOOOOO ON
While the receipts and expenditures OF the
Treasury DEPARTMENT have kept "neck-and
neck !" during the month. tho expenses being
quite heavy and the receipts slightly less @ than
silver and minor coin and Sll.02l,OOO in ma
tional bank ,depostores. This statement
shows that the Treasury ts provided with II
good working currency DalanCe. much
that It Is rr96a5Is that the gnartery interest
next week, Treasurer Morgan says he is in a
good condition to do this. and only awaits the
interest checks. The only object in antici-
patng, the interest, which in point Of fact.
g lave the % money market to the extent T Of the
interest paid, This would release ,S70OO.UOO
now in tho Treasury and put u like amount
into active circulation in tho business centres
OF the country.
MAJOR S: 6: Brock. until recently Chief OF the
mont advances theory that the sherman
law is not altogether responsible for gold ship
tH as tse drain Of gold has
not been felt in the United States. because our
exports Of breadstutrs and provisions have
served. % In The last fiscal year: ending
balance Of trade in our favor. N0 Du. e
eo ns not million dosr aRHFs mofa
than our imports. and the balance Of trade in
our, favor amounting to 500: 100000. was
live months n very different state Of affairs has
existed The imports M, ITS into the United States
This has been the balance Of trade again st us.
and in payment Of it over S6O,goo.0OD OF gold
trade must be pail in gold. whether there is q
sheE%an Silver bill bill or Or not \, ,,,.
nf frnh In
amountns am to ssoooo5o as.inst ae uS in aS fiSs
been serious financial trouble in all the coun- e
tries OF the globe. except in North America.
In the, Argentine hepublic and Australasia
ruptcy. aud in ali the colonies OF Great
Britain stagnation in trade. Consequently
thOre has been n remarkable falling off
these and other countries. The export
trade of Great Britain was in 1892 $50 OOO.-
COO loss than in 1880. This docs not take into
export trade which has been about S75.-
100000 This unprecedented decrease OF
trade lei, at home hon great quantity
fncturers. They were in great financial
distress. as they had their obligations to meet.
and they were compelled to secure n market
ket left to thcm. which was the United States.
this being the only prosperous country on the
globe doing, any considerable business with
financial troubles existed nearly everywhere
else. These goods have hoen thrust upon the
American mar ket at small margins. or none at
all. in order to realize upon them. Conse-
Quently within the past flye months the i'm
ports have exceeded the exports about S96.-
100000. and these balances have had to be
&C.. by gold and by our exports. This. 1t seems
to me. is the principal cause OF the trouble.
The sherman al law 10 nndoubtedly a bad law
to blame IL, indeed, 1t Is at all responsible"