Birmingham state herald., 1895-11-23
OUR GOLD IS FLYING OUT $4,555.0O0 Will Take Its De-
 parture Today. ONLY S82,3FA0O0 REMAIN
 ~ All But the R9 : Cause Assigned By the
 sssury Officials.
THE COL SsE OF THE KAFFlR BOOM
And tkeS oubles in the East Is Said To Be at the Bottom of It-Why the Steam ship Horsa Was Released-Capt.
 Eowgate in the Pen.

Washington. Nov. 22.-The release of the steamer Horsa, seized at Kingston, Jamaica, the other day for landing fili- busterers in Cuba. is thus explained:
 The vessel sails under the Danish flag, and as the offense charged against her was committed partly in the United States and partly in Cuban waters, the officials at Kingston concluded they had no jurisdiction and released her.
 Secretary Herbert, as in the cases of Boston and New York, has declined the invitation of the Philadelphia chamber of commerce to attend their banquet on the 26th instant.
 Captain Howgate was today taken to Albany penitentiary to serve his sen tence of eight years for forgery and em- bezzlement while at the signal service of the army.
 The treasury department was informed early this morning that $5000.000 in gold had been engaged for export to Europe on Saturday. Secretary Carlisle carried the information over to the White House when he went over at Il o'clock to attend the usual Friday cabinet meeting.
 But later this afternoon Assistant Treasurer Morgan telegraphed Secretary Carlisle that the actual gold withdrawals today were s4,O500OO of which $1.OOO,0OO was taken in gold coin and $S,050,000 in gold bars. With the $500,000 taken on Thursday this will make the gold exports tomorrow $4,550,000 Lazard Freres. who, early this morning. engaged $1,250.- 900 for export, reduced their order to $S00,0OO. With this export the treasury gold reserve stands at the close of busi- ness today at $S2, ,350, ,000.
 Various causes are assigned by the treasury officials for the heavy gold ex-
 
 is the, collapse of the Kaffir mining boom in South Africa.
 The eastern troubles have also caused weakness in the Bourses in Paris, Berlin, Frankfort and London, leaving the New York market the, only financial center where stocks and bonds could be sold without great sacrifice.
 As result of realization on American securities held abroad. to make good losses sustained in speculation in South Africa, gold has to be shipped to meet such sales. Other reasons assigned are the small export of cotton and the large import of foreign goods, together with the further fact recognized the world over that gold Is more readily obtained from the treasury of the United States than from any other nation.
 Some times within the past few years the treasury reserve gold had been at a much lower figure than now. On Jan uary 31, 1894, just before the first bond issue of 50,000, ,000, it fell to $65, ,650, ,175, and even after that gold was put into the reserve, sending it up to $107.309,000 on March To- It fell on August 10 to $52,- 499,787. Just before the second bond is- sue was made the reserve stood at $59,- 900, 900. From the gold received from this second $50,000.000 of bonds the reserve reached lon December 10 s106. .821, ,42S. From this figure 1t fell gradually to $41,- 293,212 on February 9,1S95, when the third bond issue. this time for s62, 400, GOO, was made. AS a result of this issue the gold reserve attained on June 29 $107512,- GOO, from which figure it has continued to decline, as the result of withdrawals for exports. to today's figures, $S2, 35O,- 900. One effect of the heavy gold with drawals at New York this week has been to reduce the gold coin not covered by outstanding gold certificates to about $27. .000, ,000 and to so seriously deplete the stock of gold coin at the New York sub treasury that gold coin from several western sub-treasuries and from the United States mint at Philadelphia has had to be shipped to New York to re- plenish it's reduced gold stock.
 The treasurer of the United States, Hon. D. N. Morgan, in his annual report on the operations and condition of the treasury, after giving figures as to the receipts and expenditures, which differ lished, says: Aside from the variations in the total stock of gold in the country, which are dependent upon the domestic production and consumption, as we'll as the imports and exports of the metal, the most important change now going on in the composition of the money supply arises from the gradual retirement of the treasury notes of 1890, through their redemption in silver dollars. By this process, which began in August 1893, and has continued since, the total Issue of S155, ,931, ,O02 of these notes was reduced by September 30, 1895 to $143, ,666, ,2S0.