People's voice. [volume] (Wellington, Sumner County, Kansas) 1890-1917, 1896-11-12
A CORNER IN GOLD.
That Such Is Intended Is Clearly Shown
by Repnsts and reccnt Movements.

That Such Is Intended Is Clearly Shown
by Reports aad Peccnt Movements.
Mucp is being made by the RepuD.
lican liewspapers out Of the large gold
imports as showing a prosperous coDli-
ton of the country and the suficiency
of the single gold standard 10 furnish
adequate protection to the holders Of
the governments promises top4y in the
shape Of legal tenders or other notes
But an inspection Of the bank statement
and the treasury figures Rivjug the
amount of the reserve fund is anything
but reassuIiAg to tie average man.
1t is evident that a large proportion
Of the gold in the country, either coined
or available for coinage, has been hoard
ed, and thus withdrawn from circula-
ton. The amount thai has disappeared
within the last two months is 30 large
as to excite even the denizoIs Of Wall
street, who are accustomed to big trans
actions, and indicates with what ease
the mOneyed institutions aud their Gus
toners could corner" the entire avail
able supply of that money which the
Hanna party proposes TO make the Gx-
elusive standard of the country, leaving
the government helpless to redeem its
pledges
The weekly statement of the New
York associated bank Of Aug. 22
showed that they held G46, 796, 600 in
specie, mostly in gold. The statement
of Saturday, Oct. II, showed that they
held $50, lG6, 400, or a gain in less than
two months Of $12, 339. 500. Since the
gold movement set in this direction
$4S,9 199 has been imported. Of this
amount $36, 600, 600 has been deposited
in United States repositories, from
which $40, 000, 900 has been withdrawn,
leaving the net gain to the government
reserve $50, OO0,O 900. This. with the in
creased holdings of the banks, leaves to
be accounted for $40, ST., 329, which
has disappeared from sight. That means
that it is being boarded in interior
banks and safety depo-t vaults.
On July l, 1896, the treasury depart
ment reported that the total gold coin
of the United States was S567, 931, 1923
and that the gold bullion in the country
was $50, 2GC, $50. Since then $4S,211,-
1923 in gold coin and bullion has been
imported, making the total gold of
which the treasury department takes
cognizance, not all of which is neces-
sarily in this country, $64S, All, 907.
The gold which has been sequestered by
the New York banks and the interior
mOneyed Institutions in two months
amounts to $23, 211, l29, Or over 80 per
cent of the amount the government de-
ponds on to make good its notes. This
is a startling aspect Of the gold situa-
tion, showing that in a few months,
even if impOrtations continued at the
present rate-which they arc not likely
to do, but are more apt TO be reversed
and an export movement set in-the
banks and their allies could get control
OF such large percentage of the gold
available for government use as to seri-
Ously cripple it, if not 10 throw it into
bankruptcy. These figures are all the
more significant when it is remembered
that the banks and other moneyed in
situations already hold the greater pro-
portion Of the available gold. There is
no escape from their grasp except by
the adoption of the double standard and
the placing of silver on a parity with
the metal which they now control abso-
lutely,-NeW York Journal