The Norfolk Virginian. [volume] (Norfolk, Va.) 186?-189?, 1895-12-27
|aa Z A'ctceptance. NotYet Decided On Though
/ Is favorahly Considered
Is s'l:lllIE DETAILS OF THE OFFER.
q First Made Some Time Ago,
ssi l hut No Steps Toward Accepting II
Made Unsii the Recent Drain
s s Upon the Gold RcServc-No Hill
sss tary Alliance Contemplated.
washington Post. Dec. 2s.)

8 Ing that Russia had olrcred to share
country onc-haif of her enor>
seinoust stock of gold created, as might
n nave been expected, the most intense
55SAnterest In financial political and DILL
Il Gal circles. The offer was. In fact. the
Nt0nly topic OF conrersat ton yesterday,
Is SWEARING even the occurrence OF the
%SreGteSt holiday of the year. II was
i said that under the stress OF Il constant
sly raided gold reserve, and the appnr
s5ent impossibility of securing from Eng
siish. capitalists anything like n sufficient
amount to repletc that reserve except at
ESexorbftant terms this Government has
stapplicd to Russia for assistance, with
the knowledge that Russia has to-day
\ the largest store of gold Of any country
/ in the world. This appeal was respond
led to ut once In the most liberal man
Y neT by the offer of at least $500, 900 600
Z gold, to be loaned. If necessary, without
4 Interest An inkling OF this situation
reached the ears of the Rothschilds, tho
representatives of that great financial
hddse came here to offer to the President
Aall the gold that this country might
need upon terms more advantageous
! to us than had ever before been con-
ceded under any circumstances. 1t was
to make this proffer that J. Pierpont
Morgan came to Washington on Tues
I day, and having made IL, he left for
New York to report that lie had eXe>
cuted his mission, but that lie had not
Y been positively advised as to the posi-
Mtion which this country would take.
There is probability that Congress
VIII have to deal, at least indirectly,
with this all-important question. The
president, ias soon as a determination
8ts reached in the matter. will probably
4 ADVISE Congress of what has been done,
ii Just as he announced the placing Of the
7 last loan under a special contract in
message to Congress last February. Dill
gent inquiry was made yesterday for
4 some information as to the time of the
n Ia
Z 1t can be said that upon this point no
&declsionhad been reached, the likelihood
SIS that 1t will not be sent to Congress
& Immediately.
Sss In the first place the negotiations
2 have not yet been completed and In
b the second place. the President will
probably await further developments
Ain the direction of exports OF gold.
Il When the last bond call was issued.
X the reserve was down to q little over
N e41,00O,00O. II is now s6G, 00O,0 900, and it
Twill probably be allowed to shrink to
$50, 000,0 900 before the new deal Is closed
aust what effect the negotat ions with
n Russin will have upon the gold exports
is doubtful. The knowledge that Rus
8sia stands ready to place any amount
gof specie ut our disposal and that Il bond
tissue, If made, cannot be handled
sathrough Wall street, may serve as Il
9check upon the present speculation In
1.-THE metal. There is, however, a possi-
gbility that having been thwarted in the
&effort to force another bond issue, the
exporters may decide TO embarrass this
l}country as much as possible and ship
,3gOld In order to drain the reserve to its
5;loweSt point. Whichever course Is
i!taken, the administration is now in IL
4 position to be Indifferent. II has point
4 ed out to Congress the danger which
hes in the presence Of the greenbacks.
z but as that danger will not be removed
!; and as gold is obtainnblc. the Presi-
Z dent will proceed to secure 1t at the best
4 possible terms from friendly nation.
SSSS5 Figures obtained yesterday al the
n treasury department show that the stock
i%of gold held by Russia, so far as any
b public record is made of that holding,
as s422. 0o0,0 or only S22,00o,000, in addi-
fSion to the sum which she is said Ia have
q Offered to the United States Those
4 familiar with the financial condition of
Russia say, however that she has with
lin Immediate call, II not in her secret
acoffers. an aggregate of nearly 81 o00,
q COG, 900 in gold. For several years Rus
I sia has been systematically gathering
1 all the available gold of the world Her
FACTIONS has been influenced by many
reasons, notably a desire 10 maintain
Z her immense stock of silver ut Il parity
with gold, and also to furnish the capital
for the railroad and commercial devel-
opment of her enormous Siberian terri
tory. but more especially for the pur-
pose of controlling Europe through
I the most powerful factor, money. y
member of the financial
office, when in Washington some time
81 ago. stated In a conversation with a
Aprominent Senator that his government
y believed that If ii held the purse strings
tof Europe II would secure more money
Il from war than 1t could expect even for
1.-THE maintenance of Its large army. IL
was said to the representative OF tne
Post yesterday that the great pane
s caused by the failure of the Barlngs
y Two years or more ago was que 10 the
g sudden call made by Russia for some
81 outstanding gold and the effect OF that
manoeuvre convinced Russia that she
y had but to hint of similar purposes In
d the future to be absolute master OF any
4 situation.
$ Senator Chandler offers a very in
" genious theory rs TO Russia,s motive
sin at this time offering gold to the
saTnited States.
~ .eTo me-" he said. cher purpose is
yery plain. TO start with Russia is re-
@ported to have recently boarded consid-
n cradle gold. Why has she done this?
9&Because this Is the only kind of money
sgof material use in time of war. Russia
sTmay not anticipate trouble with Eng
Mland Immediately. hut she looks far
@ahead, and is always prepared for
q egnergencies. Now, assuming that the
q Russian Government has $500 600 600 IN
sBSn1d stored away in it's vaults.
Elbow can this money he handled in war
stiffness? Is 1t not DANGEROUS to have
sSlBuch large sum all at one place? Is it
SSnot a good strategic move to have n
,ahportton OF Ii SO distributed that II may
fssibe4 at the most convenient place for