The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1902-12-21
GREAT STORES OF GOLD
CROWDED VAULTS OF GOVERNMENT
sUBTREAsURY IN NEW YORK.
Bank vauIts Also Hold Untold MIL
Iioas-How the Gold II Handled
Reduction Of Metals.


To 20 down into the treasure vaults of
New York at this time is TO be reminded
forcibly of the old story of the seven fat
years In which provision was wisely made
for the following seven lean years. The
granaries-in this case the money vaults
are bullying. and additions are being built.
Cold and silver in its actual, bodily bulk
IL pouring into the city. where II is trun-
died TO strong. archaeological steel vaults
TO lie until called for. The fat years have
certainly arrived whether the lean years
are TO follow and drain these plethoric
vaults no one can say with assurance.
To what vast total amount the treasure
In the dingy vaults runs 1t is impossible
10 estimate. There are certain stores
whose value may be known, but the great
bulk OF 1.-THE stuff that crowds safe de-
post vaults-is unreckoned and known only
TO the owners
or the accommodations that are known by
their keepers and in which the public has.
az least, half-proprietary interest, the
greatest Is that held by the subtreasury
IN Wall street. Here at the opening of
business on Dec. were deposit 1885,
00o.0oo. every bit of IT in condition to be
sent out as circulating medium. And the
way II was bagged. bundled. vaulted and
The subtreasury officials speak depre-
catingIy OF their vaults, with the exception
of the new silver-storage compartments
that are Just being completed. In the gold
storage rooms where $l20.OO0.UO lay IN
bags. once stood the desks of custom
house officials, before that branch of the
government service outgrew the solid,
squat little building and went farther
down the street to take the Merchants
Exchange, which, in turn, has been out
grown.
VAULTS OF THE SUBTREASURY.
Deputy Treasurer Hale. with his assist
ant. unlocked the door of the old silver
vaults, came to a halt in the corridor that
was piled to the roof and within few feet
OF the door with bags of silver coin. and
said:
This vault Is forty-six feet long; on this
sfde"-he jerked his thumb to the left
1.-THE pile runs back nine feet. and on the
other, here, twelve feet. Besides that, you
see, we've piled the corridor about as full
as we can"
1t seems that the sum of all that wealth.
piled tier upon tier, like bags OF wheat in
q huge storehouse. must be incaculable.
We've got only $50 100000 In silver down
here. but when our new vault is completed
there"
over a narrow board that bridges what
will be the vestibule. painted slow
shutting, heavy steel doors face the in
truder at every step. As yet they stand
negligently open. and the whizzing electric
fan at the entrance drives the odor of
fresh paint into the nostris.
when the place is ready to be opened
explains the guide, there will be a patent
ventilating system like that used in cold
storage warehouses. Air from the street
will De pumped into tanks, compressed,
then sprayed down into these vaults. With
out something OF this kind no one could
live dom in this place.
.lchf ho foH 10 hf,,Ly Of
spacious new vaults corn cribs, provided
by some rich and eccentric farmer. Be
= tivssr-the upright bars of steel have been
fastened heavy wire screens. The doors to
the cells divided like the familiar
half doors In barn. The matter is ex-
planned thus:
Zach one of these separate cells Is long
enough to allow to lay side by side eight
sacks OF silver We pile them in as high as
the top ~ this lower door (about six feet
from the iioor) and then close il and lock
II. Then we fill In above, to the roof.
When it's full there are more than 5000. 900
them, mean nothing. But one may remem-
Der the great heaps of canvas bags in the
old vault. some quite new and bright. and
others old and black with age, and COW
cred with dust and the SCOT that creeps into
everything in the city.
STORAGE FOR LARGE CURRENCY.
Above the silver vaults are the two small
er storage rooms for gold and currency of
large denomination. One room Is pointed
to with the remark: THAT vault is just like
the one I'll show. 1t has 900. all
locked and sealed. the reserve which we do
not touch until necessary.
Tin here" the guide continues, entering
the other compartment. you can see how
We keep it," Drawn UP in one corner OF
the little room, lined throughout with iron
safes with tags bearing the number 500 0Ot
on each, is a small hand truck. Piled on II
are fiat, somewhat "skimpy'' canvas bags
with 5000 in each. There may be TWO hun
dred of them on the truck.
when the gold comes into the building
IS explained. 1T is sorted counted, tested
and only coins OF a single denomination are
put IN bag, and only bags holding certain
coins arc put into a safe. Here, for ex-
ample, is a safe sealed. and the tag tells
you that 100000 in eagles are inside; this
other has double eagles, the next half
eagles, and so on. For immediate use we
have number of these safes open" A
thin iron door was swung back, and in tn,
small compartment the bags were piled
When the safe is full it contains 100 bags
piled In tive faces"
Here Is a part Of our $4,000. coo stock OF
Ecurrency. Mr. Hale pulled back another
door. '"rhe biggest bills are the $4,000 golC
certificates We haven't full package OF
them here" but here is half of one HI
drew out a tightly packed bundle that
coat pocket would easily contain. 'Thert
are only 500 OF these bills in that's 600, 900
that's heavier than the 100000" The,
were only words. words-the mind could
not comprehend the possibilities OF tina
small bundle of stamped paper
Before leaving the gold vault Mr.. Hal,
explained how the treasure was safeguard
ed. All but the amount necessary for cur
rent transactions Is stored in the safes b,
a committee OF three from three differen
departments of the government; then tn,
doors-huge steel affairS-are locked Will
two locks, the keys Of which are kept b,
two different officials. So 10 carry through
any projected theft il would be necessary I,
secure the collision of five men, two o
whom are not connected with the treasur,
service
In the big coin-assorting room are re
cefved many defective pieces-that is. coin
worn too smooth for further circulation
These are laid aside. and when 100000 o
more OF them are collected they are sen
10 the mint &c be fecoined. No mutilate,
coin Is received at the subtreasury.
over IN the minor coins department
trucks ratified about. and the bags wer
larger "Ah the money there he said
rs in ntckles and cents. We handle NOR
than 100000 year OF that stuff
Once. In the gold panic OF financia
history. the store OF treasure in the sub
treasury ran as low as $I2.0o0 .O00-the sl95.
JooOoo now on hand Is an unusually larg
amount. During the past year the dali
transactions OF the office have amounte,
from various sources. governmental an
private The postoffice, customs interna
revenue and other departments furnish
great part. while banks and mining com
pantes supply large share. All OF then
check against these huge doposits-th
army and navy paymasters, the bank
shipping kegs of coined gold to Europt