The morning news. [volume] (Savannah, Ga.) 1887-1900, 1893-10-14
BURY1Na GOLD IN INDIA.
immense Sums of the Yellow Metal
Hidden by the Natives.


Rev, DR.. A. w. Rudisill of the Balti-
more conference of the M. E. Church tells
an interesting story regarding gold in
India which is especially timely in view
of the general discussion of that countrys
financial policy. Rev Mr.. Rudisill was
for several years in charge of the Meth
odist Episcopal publishing house at
Madras, India, and three years ago re
turned to this country to raise money with
which to carry on the work. He says that
silver is almost the sole currency of India,
and is greatly deprecated, as nearly all
the gold Is secured by the wealthy and
buried in inaccessible places, as the peo
pie will not trust the banks.
Saws Mr. Rudisill: "The intrinsic value
of gold is proven by the fact that it is so
sought after by the people of India. Silver
is the currency of India, and gold never
is known to circulate there for the reason
that all the vast amount Of the worlds
gold which enters India is bought up by
the goldsmithS and rich natives to be
worked into jewelry and be hidden away,
either as coin or jewelry. The amount Of
gold thus annually consumed is very large,
for the balance Of trade Is largely in
midas favor. The gold she receives for
this balance of trade never returns into
the worlds currency No native will ever
put his wealth into bank. The purchase
of gold to be hidden is his only way of
keeping wealth. A rich Hindoo or Mo
hammedan buys precious stones or gold,
hides them, inscribes upon a piece of
parchment the description of the place
and the manner in which he has hidden
his wealth and wears this description
upon his person. When he dies his eldest
son takes the parchment and wears 1T.
NO SAVINGS BANKS TRUSTED.
I'm the condition of society in India the
natives would consider it absurd to trust
their money to a board Of directors of a
savings bank | know a wealthy native
at Bangaore who consented TO place his
money in a bank. At the time majority
of the directors were Englishmen. At the
next election a majority of the directors
were natives, and as soon as this became
known the native at once withdrew his de-
post and hid it, saying lie ould not trust
a bank the majority Of whose directors
were natives. This explains why there is
no bank system in India in use by the ma
tiVes, and this is why they bury and hide
their gold. In my c, perience in
India | never saw a piece of gold
in circulation; there was nothing
but silver. The silver rupee Of India
is nearly the size of the United States
half dollar. 1t bears on one Size a por-
trait of Queen Victoria, and is a very
handsome coin. AS midas exports are
much greater than her imports, and as
this has been true for many years, there
is no doubt that a large part Of he
worlds gold is hidden away by the ricn
natives, and II never will again Ell ter the
worlds commerce. One paper mill at
Holyoke. Mass, annually imports from
India $50, 900 worth Of jute 10 manufact-
ure into paper and this is paid for 10
gold. It has often occurred that . rich
man, with his record OF riches hidden, is
killed by wild beasts or lost, and then the
buried treasure is never found. The con
sequence is that midas literature Is rich
Ia stories Of lost treasures
'fIO snow the care they take In burying
their riches / will tell you thing which
occurred not ten years ago 10 Cashmere.
Cashmere Is IN India and outside Of the
English dominion. The Prince Of Cash
mere mad collected 50 much gold that -