The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1895-01-27
BOARDING GOLD.
Spectators Dealing in yellow Metal
"A New York Bnnker,s Views

"A New York Bankers Views.
NEW YORK, Jan. 26.-The heavy with
drawls of gold from the subtreasury is
causing much comment. Yesterday 81, $780,
900 in gold bars was taken from the SUBJ
treasury at a premium of one-eighth of
per cent, which amounts to 81 $50 on a
million The names of the purchasers of
these bars We're not given. 1t is under
stood that several millions will be
purchased tomorrow. There seems to be
no question among the leading banking
houses with regard to the boarding of
gold. During the last few days it is I'M
derstood that a good deal of gold has
found its way into private vaults, at the
instance, it is generally believed of Hebrew
SPECTATORS and prominent hebrew houses
A Wall-street firm, whose name the
writer is not at liberty to mention. re-
ceived proposition from some SPECTATORS
of the class mentioned to receive and
carry gold, advancing par on it in current
FUNDS at 3 per cent. interest and agreeing
to divide the profits equally should gold
go to a premium. In other words, there
is disposition very distinctly manifested
to- trade in gold and traders are willing
to pay at the rate of per cent for carry
ing it and divide the profits, should there
be any, with the capitalist who advances
the principal. 1t may be addeu that the
gentlemen making the proposition intended
TO deposit the gold in lots of moderate
size-say about $4,000 each-according as
they were able to secure it from the banks.
metal u 'ne
"A leading banker, being requested to
express his opinion in regard to the with
drawal of gold, said: Il presume that the
loss to the subtreasury will be at least as
great during the coming week as it has
been during the present. We SHALL unless
some extraordinary diversion is created on
the part of the government, find ourselves
upon silver basis. cannot say exactly
has been enormously accelerated nv the
events of the week and the recent course
OF Congress.
turbance coincident with our finding our
selves upon a silver basis There is too
much money accumulated and too little use
for it, The effect of our being upon a silver
basis would be only gradually manifested.
and would take the shape of a steadily de-
preclatlng currency; that is to saw our CIR
rency would gradually recede until it rem
resented the price of silver. Necessarily as
ton / have Stated silver ought to advance
In price, and it would not surprise me if the
price of silver and the silver of currency
will be accomplished without any premium
being established upon god. In any event
the result will be reached slowly and with
out the creation of any disturbance !
Is there no way he was asked, Gin
winch the government can reconstitute it's
store of gold?'
Certainly not was the reply. mo new
issue of bonds can now be taken. OF course
a small amount would be taken, but l mean
to say that the Secretary cannot float an
other loan in this ma rket or any place else
upon conditions similar to those upon which
he got his last $5O,OO0,O0O out
Well he was asked, but will not the
bonds be taken at a price,"
Certainly" he said, at a price, ''but it
Is not to be expected that the government
Will consent to put itself in that position
Besides. 1t is better, all things considered
that we should arrive at a definite end of
the whole matter. We are going to do
business on a silver basis. That is settled.
and .he sooner we begin the better It inn
plies no danger of any kind. We shall have
plenty of money in the market AMI with the
disappearance of the existing uncertainty
1t will be found good enough and cheap
enough to stimulate business One thing
you may rest assured Of and that is thar
as soon as it is demonstrated that we are
on silver basis prices of all staples and
securities will show a marked and, in my
judgment, an extraordinary rapid advance,
me view taken by this gentleman is
Shared by few of his associates Bankers
generally expect to see the coined gold now
IN the subtreasury wiped out in q few,
hours The result is awaited with appre- |
henSiOn. 'PPAo-
Secretary Carlisle is generally blamed for |
the present condition ~