Tazewell Republican. [volume] (Tazewell, Va.) 1892-1919, 1905-10-05
SHIPPING GOLD FOR MINT.
The Government Declines All Respon-
sibility in Transportation
of the Metal.

Gold, whether in the shape OF dust d.
rect from the mines or in any OF the
many manufactured forms in which 1t
reaches the United States mint, is so
nearly invariable in its intrinsic value
the standard when pure, indeed, by
which all other values are measured
that it is practically ready money.
Hence the utmost care is needed in its
handling and transportation from place
to place lest it be stolen. The thief who
acquires money in this way needs vastly
more courage than the CRATER who, po-
litically protected, gets 1t out OF city
contracts. but once secured 1t is just as
good. 1t is silent and tells no tales and
it passes current everywhere all over
the world. So great, indeed, is the need
of watching the vast sums which pour
into the minis that Uncle Sam refuses
the responsibility so far as the transpor-
tation is concerned and lets the owners
of the precious metals do the worrying
Even in the case Of the worn and defec-
tive coins collected at the subtreasuries
from time to time and forwarded to the
minis for recoining, which coin IL the
governments own property, the task
and responsibility are relegated to ex-
press companies, which are bonded in
sufficient amount to cover the risk.
1t is thought to jar the theorists who
believe in imitation and fiat money and
who maintain that the government can
actually make" in the sense OF Great
ing, all the money it wants to, to reflect
that, with the exception Of the defective
coins above referred to, none Of the gold
which Cows into and out Of the mint Is
the property Of the government. The
government buys no gold. 1t simply
receives the metal from any owner who
brings it and coins it Into money, which
the owner gets-free Of charge, II he
be a citizen, so far as the actual cost OF
coming itself is concerned, though there
is a cost charge for the alloy put In. The
owner may get his money back in cur
rency or gold or silver coin or paper,
as he prefers, or even in bars, but not in
checks or drafts.
The government recognizes no one In
the transaction but the person who
brings the metal to the mint. 1t comes
in boxes. bags, sacks or in any way the
shipper chooses. 1t is at once opened in
the presence OF the man who brings 1t
and a receipt is given for 1t. If it be
less than 500 in value or If it be below
a certain standard Of purity it is not re-
ceived. The gold is Immediately as
sayed to determine its value and the
owner or agent receives its equivalent
in money within three days.
AS before stated, the government
does not concern itself with the method
by which this privately owned gold Is
brought to it. This is the shippers bust
ness or that of his agent, which is usual
ly an express company, and any guards
Of the treasure are supplied by the agent
and not by the government.
A troy ounce Of pure gold is worth
$2067 and fraction. This IS invariable.
1t may take more or less than $20.67 of
work or other commodity to get it, but
the price Of the other and not OF the
gold varies. But gold from the mines Is
never pure, and the gold used for money
and jewelry has an alloy in it. 1t Is
this that makes necessary the assaying
Of all gold received. A million dollars
in coin, as figured at the mint, would
make a pile about four feet long, two
feet wide and one and one-half feet
high and would weigh $3.50 ounces,
or 4,47O pounds about; rather a heavy
bundle for one robber to get away with.
A cubic foot Of pure gold is worth the
sum of 1902 600.