Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1893-09-27
A SCRAMBLE FOR GOLD.
Is THE OBJECT LESSON YET
ovER2
Gold Exports again Pos siblc-How
Long viii the United States supply
the yellow Metal to Tho Nations Of
Europe?

Correspondence " the philadelphia rrcssl
WASHiNGruN. Sept. -. THU rates for
foreign exchange Indicate the possibility
OF renewed gold exports. Al THIS season
gold naturally comes 10 Us from abroad IA
payment for grain and cotton, but the
nearly si0OO0,UJ0 Of European gold, for
which we paid premium during the recent
panic eomplcatos tie situation Many
sterling ioans become due in the uvyt thit-
~ days aud the foreign lenders may posi-.
by refuse to renew them az Tho current
rates Of interest II they demand the re-
turn Of gold the foreigners viii probably got
a, par what we paid 1Ol ~ TO- IL for less
dhan sixty days ago.
II the senate dallies with the repeal I'LL
much longer President Cleveland Will prob
ably welcome renewed gold shipments as
another 'Objcct lHssou," even " Il Involves
slight second shock Of panic. That Is
the way OF this administration. And thrfu
arc a good many New York bankers VINO
are 50 angry Wltl the silver senators that
they would not Do muph 70 avert another
squeeze II y fegirlod aa certain lhat
President Cleveland wlil do nothing, either
to prevent gold eNloris, or 10 protect tue
gOlu Wserve, cuiue What may. II he eau
nOl get tho siug4e standard that he wanla,
be vii allow ,iie gold we have lcii uuu the
national egedN GO lake care uf Themselves.
lie IL 30 iuent upon the uIanlyumuni OF
every pn1rt 20 hlng about wider use w
SILVER throughout the world, that hp over
looks the Necessity to the nation OF IN.
cfelalng iis stock " god lls VIII haYo
silver purchase law has been rcpeMed,
TlIE FIGHT IuR GOLD AMONG Ma.
rlONS.
Perhaps II cannot be doue even thea with.
out tne USE OF some such machinery as tlo
great nations Of Eulepe cinpi0y, anu me
scramble for gold mag turn into iglt
Nhuu iuls great ana wealthy nhu9h enters
tue struggle Europe has been biuinng US
on th.s question. There has not been
great county IN EugDpe which has really
iuaiuiainri gold payments f1r yeas, "
Is iuposslD.c TO move any great amount uf
inc metal from Que center 10 another with
Out buying H. just aa boots ana shoes or
uny other commodity u bought just al
this moment the buuk OF England Is pro
teciing rs gold Dy putting large price
ON ~ anu our recent purchases there ntnt
the rate Of discount ~ from 2 10 . per
cent, lhe money rate "a ~ open maihat
81 Lgnlon Is ~ per cent below tue bank
rate, Dui the bank all not reduce It's us.
count rate uniA yeslerday, because u y
had the insed states or the continent
would have taken none gold The scarcity
OF gold Ia Europe has been noticed for
years. hni li hrst brgame ~ lnlerest 10
ihv people Df this conuuy Ia lsuJ Nhen
Itussil withdrew s5g.UuOOJu ln god frJiu
the uank ol ilug.Anu.
Although ample n1ilce wls Riyun, Tie
NlINNNNM ~ OF NNNh NolN llHNA ANf lhiNN'f
markets % Europe for months and he
liauh OF England for The SECOND dime 40
is history was compelled Ia borrow aln,-
UuJUy1 froin the hams " Iraucc, IN act
withdrawal Of Ills gold turned tle thoughts
u European niiahclrrs seriously to tnis
county Us Held ~ which they could re.
caup their loss ~ the yellow metal. IN a
Few succeeding months Hey ustounied
themselves aud gave The world an object
lesson IN the yarintss Of on resources ~
= Al Fs..HHa
Tie world Of fluaHce, amazed that tuls
nation could spare 70 much treasure nnd
hardly miss "a, came hlrk the ueAt yNlr
nnl took another large amount Of god
Ths cnuacly Of this country 10 furnish
gold. aud our Willingness 10 ict ~ 20, eii-
coirlgrd ihe Europeans % work ihe Niue
Hoy nal discovered. AID IN ls2 they iOnk
goil from us every npiiih bui iwoi although
Inc merchandise hlnpre of iruir was large
IL IA onr fayor This lofs q gold not ouly
reduced our own stock below the lows
was weapon which was used by European
lnanclsrs 10 dcliaae silver and weaken the
credit OF tho uhild states,
The day must very soon COME ~ the
opinlon ~ sound nnanciars, wheu gold eau
~ longer be had 10 tle lniiri Sl1tes ~
foreigners f1r he asking. Jpehpylng the
exchange rate VIII no lBuni. hrihR aDuut
1 moyeineni Of gold from THIS country.
rae Utlfei slteI mus become roii ne-
cuIntnrfnr. We viii hlft fNQ afftulAl =
10 The tight. There 4 large store o. do-
10 use a. . circulating ire Aul nul zoe
necessity ior gold iu tlhs country = nlQni ?
Of sc tmsrfl. NAien hls ~ e-peei
IN any quantity from ile hinkrupil iaA-
raiian countries ~ Elypr Wlel nre
WtisAtcd win deal ntii1sm ana Other
fsgiHi-iafug eNifaNr-antasf.
III mr. aggresIfe pqiiv Is pnraued ihe
ireiaQfy can Sc. fipu gurcsIie Hni leinHu
sulfef. nii me 500 ltsttasf ~ ~ ~
lsi.e which our cnrreacy system a'ag re-