Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1893-03-19
|FSE GOLDEN DAYS
Uncle Sam Is Supposed
4 10 Need Gold
rs WILL GET IT.
j, nls,rs Of the United States
~, ~ Stories About the Hoard
no Of Immense Sums Of
Money.
Ne WILL GET IT.

VI tuFlysl tlAl $3.50 -
,raasury department Of the gov
IN account Of the demand for
do not understand why this
y" sbonld have arisen, or
A 49, bankers and the sec
w the treasury have been
nreveut the elimination
n ", b,s lack Of knowledge is not
Nv since, II dozen Of the
hsnters and financiers Of New
rsre called upon TO set forth their
"s,n. the chances are that no
Y bem would agree fully In their
The writer recently asked fully
a mon who had won repute and
a !. IN the banking business, for
|.i,ootion of these alleged dangers,
81 ostopished To find that some
eopld give no coherent explana-
mia others laid the difficulty at
- ana still others put II In entire
treat directions.
fore the mystery which this ques-
n accustomed many business men
A ali TO be wondered at. Some
:, mink that really no danger ex-
svlng that the government is pow
enough To meet any emergency
h did at the tine Of the Civil
New York bankers all seem 10
mon one thing, and that is that
ma secretary of the treasury con-
10 bus silver bullion at market
ana 10 issue for Il what are called
notes. by and by there will be so
n M those notes In existence that
I'M usnrp all other money, which
Of course. that gold will be driy-
a Al circulation. To Offset this Opin-
pre Is q grent body Of men who
6yen study TO the subjectwho eth
n the contrary view or else
~ that no great harm would happen
n contingency should arise.
the opinions varying in this way,
ismen aud the iinuncicrs will be
LA 10 oct as seems to them best,
& possible ut this time TO illus
pue of the operations of the
y department. aud the greater
and In these Illustrations, per-
bme Of those who are In doubt
these matters may receive some
year or more weekly reports
ben published of the demands Of
for gold coin from the treasury
rent 10 ship abroad, and nearly
he gold thus demanded and paid
passed over the weother-worn
unpublished counters Of the sub
"A n In New York city. The opera
g be Illustrated by the expert
one bank I'm New York when the
Excitement was at its highest, Ia
dlle Of February. A customer
bank called one day and said 10
esident that he wanted 100000
coin 10 ship 30 Europe ON the
rs day 50 ms 10 meet bills OF eX-
or sight drafts which he had
upon his European bankers for
h customers This mans deposit
bank amounted 10 more than
O0O, and he had the right TO de-
from the bank lawful money. The
|ould have paid him In legal ten
4 es or treasury notes and he would
ben compelled 10 take that money.
y done SO he must have taken
per across the street 10 Mr.. Rob
DE sub-treasurer Of the United
and Mr. Roberts would have said
Yes, the government is com
. give you gold for this paper If
PSI upon It"
bank, however, desiring 10 Oblige
omer whose business was very
pe, undertook itself TO provide
th this gold coin. To do this il
W necessary that the bank should
qne Of its employees 10 the sub
"a and oifer the paper money and
tor Il the gold. Then this gold
Dc carefully packed and shipped
lfopean steamer where IL would
~ strong vaults and upon arrival
wool would be transferred 10
messengers and guarded until IL
ue bankers IN London, where II
q used 10 pay the bills of exc
erawn against Il.
happened in this case that Mr..
Tue sub-treasurer. was not uOti-
~ a very short time before the
was made upon him for gold.
10 small task to count n large
OF legal tender notes and 10 pass
any large amount of gold over the
70 that 1t Is customary TO notify
. treasurer some days before the
rahster Is expected TO be- made.
eaSe the bank sent 10 Mr. Rob
,D,pVO In legal tenders, and when
'us great pile of money he in
'uat y should be counted. To
Vseu1ed II would have required
I'VE hours, and by that time il
" ..'e been too late to gee the gold
.~a9shlp. The bank was there
.tieu- The government did not
" redeem us money, but insisted
''lung H. as It had a right 10
tne emergency the bank took
Vp 70 another institution and
w Without immediate counting
LA Ut gold certificates in denOmi-
~ VI 3lO,UOO each. That made ii
70 count only City notes and
y hours time the gold was on
" The steamship.
Frauon illustrates very many Of
+ n nave taken place in Wall
TINS public excitement about
ueg,m, Some ~ the theorists
~ tueL an operation as this would
IA oeen necessary IL the govern
~ uol been buying silver, but
& made OF the bankers who
ifaNu' aud he said that he had
W. or exchange 10 customers
ny wanted these drafts TO pay
tbe,. ~ ireat Britain for goods
-S bad bought, and the reports
\ ho,, nle custom house across the
~. ele sub-treasury for the past
Az mat very many Of our mer-
~ eonpelled 10 do this thing be-
trsoRIlgg OF the United States are
Dn. european goods than they
M 70 Europe. If the reverse
N dfse' bills Of exchange would
w country 20 settle balances
g4son many bankers argue that
~ ~ E0ll ID sent abroad 10 pay
N, - she United States, aud thai
has app until this country sells
W ~ buys abroad.
afternoon recently there
m the Union League club 4
be, men who control the az
ID NV, OF millions of capital
of ~ their vaults over $50.
bin n telu They met TO have {
~ Ale.l,t.erilor Foster. the secretary
IA " They wanted 10 tail
4 ID hssS the gold which the gov
{ nrs..ta rs vaults and the neees
nen, ',,s'ng the supply 50 that thl
nan WI always be able 20 Civ,
a. sun when he asks Il ia eK
nasa s'srnment paper, which i
IN piiNt ~ saying that the gov
u ~ MMntain gold payments.