Arizona silver belt., 1893-05-13
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issue block of bonds, say $50, 900, GOO or at least S25,000, 900. These they are quite willing to subscribe for and give gold in paynient. To part with any considerable amount of their gold On any other terms they call going into "blind pool and will have none of it.
 The assumption that New York would be allowed to monopolize those bonds, if issued, is, or at least ought to be, all mistake. SU far from giving the banks of tlat city the first pick the Treasury ought, if anything, to favor the banks which have come to its re- lief, Chicago, Denver, and Boston es- pecially. We do not know how much gold the Boston and Denver banks have got, but the Chicago National banks alone have about S25, 1000, 900 of the yellow metal stacked away as reserves in their vaults, or, to be more accurate, in their vaults and in those of the safe ty deposit companies If satisfied that the government would protect gold from going to a premium, as it certain ly can and should do, the banks would be glad to be rid of the greater part of this cuin
 The expense of boarding this gold is quite an item in every city except Now York There and there only the gov ornment furRishes vault room Those banks are herein shown favoritism amounting to tens of thousands of dol lars year in the saving of safety de- posit reatal for their gold. But this is not all, nor is it the most important saving. That New York gold, having been stored in the sub-treasury all the while, is full weight, while the gold of other cities has been more or less abraded and depreciated It has been used somewhat as a medium of eX- change, aud we call it the poorest of money because it is the oHly kind of money now in this country which is liable to be worth less than its face. Under our system of National banking paper money can not be repudiated or depreciated, end our coin, from the penny to the standard dollar, is of full value as long as the hints stamp is legible, no matter how much it may be abraided.
 Not long ago one of our National baaks sent S35, 600 in gold to the sub treasury in ths city to be exchanged for some other kind of money. Each piece was tested in weight, and isst about 10 per cent of t proved to be below the minimum weight. Thewhole lot might have come up to its average to the standard, but instead of Jumping off the lot those lightweight pieces were rejected, and sooner or later a loss will have to be sustained on them It is safe to say that about one-tenth of the gold coin of the country, outside of the United States Treasury and sub treasuries, could not pass muster Every other kind of money in the country, if genuine, might well put on airs over gold, with all its yaunted su- periority. It is only when it comes to foreign use that the gold is best Then, of course, the smoothest and lightest gold coin of them all is worth more than tho silver dollar, the same as, for foreign use, the silver dollar is worth more than the subsidiary silver coin, and the latter, in turn, is worth more than the nickel or penny. That is be- cause there is no international money, and foreign balances have to be settled on intrinsic values, whether the pay ment is made ln gold, pork, silver, wheat, copper, corn, petroleum, orany other commodity. It is therefore no sxaggeration, if n hyperbole, to say that our best money is also our poorest, according as the point of view is me- dium of domestic or foreign exchange. Inter Ocean.