The indicator., 1897-10-16
GOLD COMING FAST.
Currency and Specie shipped Across the
Country by Mall.


New York, oct. 1.-TWO million and
n half dollars in gold arrived from Eng
land in two steamers saturday, and So
o5o,uuo is on the way, The engage
ments already made will bring this to-
tai up 10 S25,OooONp before the end uf
the month, and bankers here estimate
that the receipts for the month of oc-
tol,er win reach SIo,OtNSo il mt SJu,-
100000. Some people say this money IS
being imported 10 pay for the | mon
Pacific railrpad. which Is To be sold ut
auction the first of November at oma-
ha. and Will be purchased for not less
than SJo,Ouo,Oou cash 10y syndicate
that has already been organized ana M
Cludes several of the most important
banking houses in New York; but the
prevailing opinion among tinanciers Is
that the huw of gold tEis way l. per
fcctly natural and Is caused by the flow
of wheat and other brcadsiufls and pro
visions in the other direction. The cN.
ports for August were larger than for
many previous months In the history
of the United States, and 1t is predicted
that when the figures for September
are announced they will exceed those
of August. These cNplUs have been
paid for. Hul the money sooner or lat
er. must come home 10 the men who
spld them. And there Is 4 steady
stream Of gold flowing into the sub
treasury her, from the other dir rtion.
Tie sum of STOu.OO1 was rec ivod from
san Francisco recently trum Ausirnlia.
and there is 50 much coin Oh the PaciHc
coast thar people want tu get rid OF 1t.
\ san Francisco bank which not long
ago offered the secretary Of the treasury
several millions Of god ,oin for New
"a fatHN
transportation has r,Slripl 10 4 novel
plan for transferring god across the
continent al the expense of ncle sam.
It * being Slipped hy mail in small
canvas bags about the size Of q sausage.
each lag containing nifty 50 =, IL
pieces, ami thgTs ar" seven .r eight
bags on every mail over STOn.UOl has
already been received In this way The
packages are .ssnlcd. registered and sent
under letter postage at the ratc uf on"
cent an ounce. \ double eagle weighs
about an ounce. aud fifty ounces is
about as heavy Il package as the postal
authorities will accept. The postage ON
each package l. fifty cents. more or
lo's, the Zee for registration is eight
C.nIs. and the money il insured at the
rate Of 81 per $1,000 against loss by fire.
robbery or accidents Therefore the
cost Of transpg rtation amounts 10 about
81 so for every Sl.tOu. The express
rates. Including Insurance are 500 per
SlpnN. apl tile saving Is therefore
about Sl.p per 81 600. or 100 times that
much on shipments thus far.
The government assumes no respon-
simdty for packages intrustei - the
ueIilS The registration /, only safe
guard and a receipt. which is admitted
rs prima flcia evidence In the courts,
80 the Insurance companies take all the
risk Small packages of gold have been
transmitted by mail frequently FOR
years back and there has never been n
loss. In this is the first time that bank
crs have shipped it 10y the Wholesale
II Is n common practice to send paper
money in the mails. \ thousand or a
S1O,eDo hill docs not weigh any more
than a 81 or a s. bill. and the postage
charge is nominal The registration fec
Is : cents. ard there are several iusur-
ance companies which make business
OF taking risks Of this kind, their pre-
miumS being generally covered by dis
lance Al any bank You can SET
schedule Of the cost of iusurlng ship
mcntS Of money by mail frcm New
York to alngSt every town in the coun-
try. and hundreds of thousands Of dol
lars are received and sent in that way
every day. Last week saw in n New
York bank two packages sealed stamp
Cd auI addressed to *. Paul that con
taino.l >J0,OOO each. and they were not
much larger than Il packet Of official
envelopes. The postage WIS 20 cents,
the registration fees IL cents and the
Insurance $50. making total cost Of
S5iL3G, while the express charge at the
regular rate would have been St.2j per
$1,000
The express rate 10 Chicago is 81 per
Si.V1, and the insurance On postal
packages 10 cents. The express rate to
Denver is 81, ana the insurance rate
- cents 50 that there is economy in
the mail business, although the risk IS
greater. and some of these days there
will he big robbery on the road.