Daily Kennebec journal. [microfilm reel] (Augusta, Me.) 1870-1975, 1900-08-03
OUR GOLD SUPPLY.
Gold and Bullion in Country, July I, Estimat.
ed at SI.036,03 .645.

Washington. Aug. Mint Director
Roberts proposes to make a careful in
vestigation of the supply of gold in the
United states in all the bearings of the
question before making public the report
of Mr.. Maurice l.. Muhleman. deputy as
SiStant treasurer at New York. whlc-- has
reached the treasury
Mr.. Muhleman was not charged with
the entire investigation. but only certain
portions relating to the consumption OF
coin in the arts at New York and the
official returns of imports and exports
The treasury department.. in dealing with
the subject heretofore. has taken account
only of gold coin and the bullion held in
the United States treasury. Gold bullion
imported and exported has not been
counted part of the supply of gold
money in the United States unless II
came into the treasury. Mr.. Muhleman.
has been going over the returns a the
New York custom house with a view to
correcting possible errors and ascertain
ing just how much coin has been returned
to this country.
Mint Director Roberts does not believe
that the present estimates of the gold
money in the country will call for radi-
cal modification when he makes up his
annual report in the autumn.
The, estimate of gold coin in the coun-
try and bullion in the treasury on July
| was 81 036 G3l CAS-. This amount is not
likely to be carried below the round sum
of 81 .000, 900 .0C0 by the reyisiOns resulting
| from the inquiries of Mr. Muhleman and
other treasury experts -.
L. Falkner. that proper allowance has
not been made by the treasury for gold
carried in the pockets of travellers. is
receiving consideration at the depart
ment. III an allowance Of 81, 900. 600 or ST.,
| 500 900 were made for this excess per year.
the calculations of q years since the
sumption of specie payments in 1873
| would reduce the present gold supply Of
the country by $25,00o.00o or $3O0oo.o09
| This would not be a material factor
however. in a gold supply of over a thou
sand millions.
| 1t is contended at the treasury that
| there is little reason for the alarm over
| the invisible and fictitious gold equip
ment of the country which has been ex-
| cited in some quarters There is more
| than $500 900. 600 in visible gold in the two
great items of the treasury holdings and
| the cash in the national banks. The
| treasury gold supply including that held
| against gold certificates. stands above
| Si3l 900. 900
| The national banks on April &c carried
| about 500 62i, 1875 in gold coin. and gold
! clearing house certificates to the amount
! of s92 90 600 They also carried $l00 9S9 :
go in gold treasury certificates. but these
are already covered in the statement of
gold held against certificates in the
| treasury.
These various items of visible gold foot
| I'D about 1927 600. 0Q0 but this is only the
beginning. The holdings of the big state
banks and loan and trust companies in
New York which contribute SO much to
the large gold fund in the New York
clearing house. amounted a year ago =
: over 81. 900 900. but there was an add
tional item, beside silver and paper, OF