The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1907-11-09
C0LDFLOWSWEST
The Yellow Metal Does Not Stay
i'm New York.
$12,OOO,OOO Shipped to the In
terror This Week.
is MORE TO FOLLOW.
High Discount Rates Will Not
Stop Importation.
American Exports Of COmmOdi-
ties Will Bring the Cash.

Washington, Nov. "a prominent
treasury official said today that he had
been in communication today by tele-
phone with a number Of New York
bankers and that they had reported the
financial situation there as very notice
ably improved. The money stringency
was gradually but certainly relaxing
and the banks were resuming shipments
Of considerable amounts Of currency
into the interior. The demand of the
banks for additional circulation con-
tinues undated and the amounts al
ready taken out and shipped are said
to be having a marked influence in re-
lieving the present stringency.
New York, Nov. 9.-The stream of
Europes gold pouring in to New York
has not been halted here to meet local
demands, but is being allowed to flow
through the financial arteries of the
United States and relieve the needs OF
agriculture and other industries gen.
orally. Gold importers state that near
ly all of the $21,O0O.OOO which mas
already reached here will soon find its
way to every quarter of the country.
Nearly $12,0O0,000 has been shipped
to the interior this week. Gold has
been shipped from here to Chicago in
such large amounts, it is understood in
local banking circles. that the issuance
of circulating bank scrip in Chicago
possibly may be not necessary.
The greater part of the 100000
arriving on the steamer Lusitania ana
of the $2S,000,000 still to come will be
Immediately expressed to out of town
banks.
Never in the history of New York
finances, according to gold importers,
has there been so much money en-
gagged abroad by out of town banks as
at present.
There need be no fears said a
member of one of the largest gold i'm
porting firms, "that there will be
cessation of gold imports because of
the increase in the discount rates of the
banks of England and Germany. Those
increases in the discount rate were not
made for the purpose of stopping gold
from coming to this country, as is
popularity supposed but to strengthen
their own position by drawing gold
from other centers in the world. There
is a heavy outward movement Of
American commodities, and until they
are paid for we can demand our pay
ments in gold, and it can not be
denied us.
1.-The gold that we are importing is
coming in every form, though prin-
cipally in American double eagles. I
know that within a year the Russian
imperial treasury had $150,000,000 in
Am erfcan double eagles boarded in it's
vaults while the Bank of England has
many million dollars of American gold
coin. We sold a bank yesterday ST.
100000 in gold which was today dis
patched to the banks out of town cor
respondents. Without doubt the
greater part of the gold imports are
being sent to the country banks VINO
are making their demands on the local
institution for their balances"
Figures compiled today by New
York banks show that banking centers
the United States have
drawn nearly twelve million dollars
from this city within the week. OF
this sum over five million dollars was
sent through the subtreasury.