The representative. [volume] (St. Paul, Minn.) 1893-1901, 1893-05-10
WHERE OUR GOLD GOES.

Mr.. sherman's Silver Bill Has Nothing to
Do with the Expectation Of Gold.
Hon. Adoniram J. Warner, of Mari
eta, O.. who is quite recognized
standard authority on money matters,
explained ''the Egyptian policy of
financiering in Austria Hungary" in a
communication to the Washington
Post, before the expiration of the Harri-
son administration, in the following
language:
1T is well known that the Austria
Hungary government has been prepar-
ing to go to the gold standard. On the
4th day of February. President Kantz, of
the Austro-Hungary bank, stated that
between August II and n november II the
bank had increased its gold by some
thing over 4O,OOO,OOO forms, or about
$50. OOO, 900, the greater part of which
consisted of American eagles.
ION the 18th of January last an
agreement was entered into between
the Rothschilds and the Hungarian
minister by which the Hungarian gov
eminent was to change certain paper
and silver loans, amounting to nearly
500, 100000 forms (s24O, OOO, O0O into a
four per cent. perpetual non-taxab BILE
gold debt. The old debts are turned in
at par for new bonds at ninety-one per
cent, which is the price at which the
Rothschild syndicate take the new
bonds. Besides this new gold loan to
take up the old silver and paper loans,
the syndicate undertakes to provide
gold for the redemption of the notes of
the AustrO-Hungarian bank and the
state notes. The notes of the bank
alone amount to 477,OOO.OOO forms,
while the state notes. of which Hun
gary has to provide 80 per cent, amount
to 343.000,0O0 forms, besides other
grades of currency.
ION the 18th OF January, or six DAYS
after the conclusion of the agreement
with Hungary, the same syndicate con-
cluded an agreement with the Austrian
finance minister to furnish Austria s
proportion. 70 per cent, of the gold re-
quired to redeem the bank and state
paper circulation. The syndicate agree
to take at once and pay for in gold co.
100000 forms of per cents. at go: the
total amount of gold required for the
redemption Of circulating notes is from
$50, 900 to 100000.
Besides supplying this amount of
gold the syndicate engages to convert
a large amount of Austrian silver and
puper rents into perpetual gold debt.
THE gold for these loans was bought
largely in America, but some in En-
gland and some in France. The loss of
gold by the German. Imperial bank
would also indicate some drain from
Germany, and probably some from
other countries except Russia, which is
constantly increasing her stock Of gold,
having, according to the recent report
of her minister Of finance already &C
cumulated a war chest of nearly
5OO,OOO,OOO.
"This gold does not 60 from us in
settlement of trade balance, but is
bought or borrowed. regardless of cost,
there being margin of to per cent.
to the syndicate. What has the pur-
chase of silver under the so-called
fasten perpetual gold debt on Austro-
hungary?
''The change of loans contemplated
in the agreement with the Rothschild
syndicate will increase the debt of Aus.
tria- Hungary by 100000, 900 at the out
set, which the syndicate will make out
right, besides the vast increase Of debt
burden involved in a change to the gold
standard. This is but a part of gen.
eral scheme to enslave the world.
Change debts to gold debts. then in
crease the value Of gold by increasing
the demand for it. 1t is the Egyptian
financiering over again. Will you
walk into my parlor, said the spider to
1o