Evening star., 1901-07-31
LARGEST GOLD FUND
Amount Now Held in the Treasury
Vaults.
MORE HhN ANY OTHER NATION
1t is Very Largely of Home Pro-
duction.
PROSE- ER T 7

When the United States treasury opened
its doors for business this morning 1t was
in possession of the largest fund of gold
held by any nation in the world. Incidental
ly the fund Is the greatest ever contained In
the government Golfers, and during the
past year it's increase has been something
remarkable.
At o'clock this morning the fund
amounted to $5O4, ,354, ,297 This involves an
increase during the past month of nearly
$40, 600, 600, and an increase of $14.422,4 AZ
over the figures of corresponding date OF
last year.
The fund now held by the United States
treasurer consists of the following items:
Amount held against gold certificates,
S292, ,535, $50; reserve, $50, O0,O00, and mon
eys in the general fund Of the treasury,
$61. .S1S, sos. The amount of gold reserve
required by statute to be held from time to
time is $15O,OOO,O00, SO that the present
fund, In dts entirety, is largely In excess
Of the figure obliged to be maintained un-
der the law.
The present figures of the fund are as
tonishing, especially in view of the fact
to the induction of President Mckinley into
Office, had a difficult time in even main
tanning the required $15O,OOO,OO0 fund Dur
ing the administration of President Cleve-
lana IL was 1OunQ necessary TO SOLICIT DOnQ
loans in order to keep the fund above the
danger mark and maintain the formal sta
bility Of gold certificates of the govern
ment Now the conditions are such that
possess more reserve in the shape of gold
than 1t knows what to do with.
Gold In Foreign Countries.
The Russian government, it is stated at
the Treasury Department, once claimed to
be in possession of a gold fund amounting
to $59S, 100000. This is the highest amount
of reserve on record, but the present fig
ures of our government almost reach 1t, SO
that the fund now held Is but a step from
the largest in history On July 25 last re-
ports were received at the department here
of the amounts held by foreign nations.
They were as follows: Bank Of England,
S1s3. $50 6S1: Bank of Germany, 315S. $685.
434; the Imperial Bank Of Russia, $3 49,,
408.144; Bank Of Austro-Hungary, $780,
These banks hold the same relative posi-
tions to their respective governments as
the treasury does to the United States
government, 80 that the funds indicated
The amount now held by France in its
bank Is the largest In the history OF that
nation, SO that along with the United
States 1t Is now enjoying an unusually
large redundance OF government reserve.
Our Gold Of Home Production.
OIS OF the most remarkable features OF
the fund now held by the treasury is the
fact that q very large proportion OF the
amount is Of home production. OF the
$50, ,S54, ,297 now held very little IL cred
tied to the importation account. the bulk
of it coming from the Alaskan and Cripple
Creek mining regions. During the fiscal
year ending June 80 last the net importa-
tions Of gold amounted to only $13. 12S 000
or this quantity Of metal q large percen-
tage came from Australia. The gold that
production is covered by the issuance Of
gold certificates, every dollars worth Of
which stand guaranteed by Its equal in
coin held in the vaults Of the treasury.
From time to time expectations OF coin
and bullion are made by business men to
stance, during the month Of June last the
sum of $5 100000 was sent abroad, while
the importations amounted to only So 26O,-
OOO
Treasurer Roberto Statement.
In speaking OF the immense fund Of the
government United States Treasurer Rob-
noon: 1.-THE dimensions Of this fund indi-
cate great era Of prosperity now prevail
ing throughout the United States. It can
always be regarded as an accurate barom-
eter of industrial and commercial condi-
OF anything we have ever held indicates
that the volume OF our business has as
sumed corresponding proportions. It fur
nishes clinching argument against the
free silver theory also, and shows that
our currency system Is running on rock
ballast. No stronger argument against the
futility Of change In our currency sys.
tenn c0nld ha furnished -