Fort Worth gazette. [volume] (Fort Worth, Tex.) 1891-1898, 1896-02-14

1t is impossible for the Stataaman to
answer all the foolish questions that II
IS asked to answer. The Fort Worth
Gazette asks the Statesman how
muoh gold is stored away m the
banks pf the United States. THAT lH IA
Thing that no fellow can ind out.
however. the late bids for United States
bonds show cunclusivcly that the
amount Is much larger than anyone
estimated Il,
Gold Ia getting to be II very COM
mon metal. Popullgt. who does not
believe In God, said To the editor OF the
Statesman that " he ala believe in
Sod he would think the late large de-
Felopment nf the gold mines was n
special providence TO furnish all men
with all the money they need. No.
hhp we can't tell you how much gold
- IN the banks In this country. but
10 not let this discourage you; 70 on
asklng questions from such sources or
oceans or Information such as the
Statesman aud by the tlmp Won grow
up you WIN know something Bub. -
Austin Statesman.
The Statesman asserted that the
bids for 1900. 100000 OF government
bonds represented almost thnt
amount OF gold boarded In the stock
inga OF the people The Glzette nsl,ed
1t to state the amount OF gold "in the
stookings' Of all the national banks
OF The country We OF course. ex-
pected that the Statesman. with lts
usual adeptnesH for tricks OF TINT sort
would manage 10 taugle itself 40. hut
we mad hardly counted upon a per
tormanee as absurd as this ANY janl-
tor IN a bank could have told IL that
the reports OF the banks 10 the
comptroller OF the currency contain
the required statistics. We need hard
" say that the Gazette takes no de-
hght In exposing the lamentable lg-
ance or contemporaries that. aasiulnp
20 be teachers OF the people, pick up
and repeat the groundless assertions OF
those who know rs little ms them
selves. Its purpose IL 10 diclose the
startling deficiency In the volume OF
standard money in the country. The
truth Is that In all the United States
there is not today enough gold TO ten
der payment for the new bond iasue
without creating distress akin 10 n
panic. The truth Is that the bonds
VIII be paid for In large measure
with gold exported at a prcmIn,n
from foreign shores. The truth III TINT
IL all thu national banks Of tho United
states were to unite In the purchase OF
the new issue OF bonds 1t would ex
hauat two-thlrds OF their stock OF gold
10 tender payment. The Gazette is not
making amy guosses on this subject. II
refers TO the official reports OF the
comptrolle- OF the currency. Later in
formation Is given IN the issue Of Ian
na'y 10Th OF the lrinancler. a New
YORK financial journal recognized by
me ,'reet' az a standard authority.
in leading editorial undo 90 car.
ton, Where is Gold to Con ION, ,"
It says;
Iho question OF gold payments Tor
the new bonds Is. however. q vital
one There II reason TO believe that
the treasury estimates OF free yoId
are grossly misleading, and mi
calculation converts this Into GER
iaihtS. According TO the best inforp,n-
tion the national banks hold nbout
Wv 92o,A9O specie, The Comptroller
OF me currency figures that Tile
1891 SPECIE IN BANKS OF ALI,
100000. Az the total gold In the ooontrv
IL reported to DO $685.. OO0. 600. II vim H.
aeen that we have at least sass coo o1d ~
Pc accounted for outside the banks ana
the treasury. Other forms Of rnr-
,rency In circulation, including bank
notes. amount TO sl.1Os. 800, lig. Dut ~
THIS amount the treasury hoida SieS.
!!110sd, exclusive OF gold MS eatlnntea
by the treasury. Taking the treas,,ry
estimates as basis. The total circula-
tion among the people exclusive or
money IN the banks and treasury il
l,oo4,4oI1ss. or this amount specie Is
estimated at 1854. 6s4. $50. and other
forms OF currency at s6ie.742.z is. Ii
u 70 90 noted that the total amount
treasury Is larger than the amount