The Montgomery advertiser., 1907-12-01

By George ". Marlor. Cashier of the
 U. s. Sub-Treasry, New York.
 Buying SIG, ,000.0oe worth of gold from the Bank of England Is no more complex a transaction than buying a piece of real estate. Whatever differ encer there is in the two is in favor of the gold purchase. In 1t you are pretty sure to get tEe value of your money.
 Much of the gold bought by the large banking houses of New York and other American cities is purchased from the Bank of England or the Bank of France. It's purchase is arranged for by the English or French agents of the bank that wishes to secure the gold. The price that will have to be paid depends largely upon the demand. At the present time, when every dol- lar of gold that can be secured is be- ing eagerly sought by bankers here. the price Is as high as and 6 per cent.
 The shipment of the gold is accom- companied by comparatively few extra precautions. An extra detective or two from Scotland Yard, perhaps, and as many other private detectives ef1- pioyed by the Bank of England fur nish all the protection needed.
 All gold imported into this country comes in one of two forms. It Is either in gold bars or, in coin. If in coin. it is usually American money that has been sent abroad in some pre- vious year. for a comparatively small amount of foreign gold coin is brought here. Whether in bar or coin, how ever. 1t is all shipped in small steel cases. The bars are of an exact length. so as to permit them being packed tightly in the cases. while the coins are in bags. irrespective of de- nomination. that hold just 500 ounces.
 The arrival of gold-laden ship at her pier in the North River is no diff ferent. so far as precautions for the gold itself is concerned, from that of any other vessel. There Fare always Government officials, city police and private detectives to meet each ship and the arrival of a boat with $10.000,- 900 in gold aboard will result in no more than one or two extra men being present to ride on the wagons carry ing the gold away from the pier.
 The steel boxes, with their precious contents, as they are carted down from the ship to the wharfs, might, from their appearance. contain only ordinary merchandise. If any unusual precau- tions be taken. however, it is during the brief moments that the boxes with their millions are lying on the pier waiting to be lifted into the, wagons and carted away. Then they are watched by good many pairs of eyes, and mot a stranger is allowed to ap- proach anywhere near them.
 The final act of the purchase of gold differs in times of panic and at orr dinary times. At the present time. when the necessity for gold is so great that every moment Is precious, its real value ih relieving situation such as we have been going through recently comes only when 1t is piled high on the counters of the banks and trust companies awaiting the de- mands of the creditors of those insti- tutions.
 The gold that arrives in bars goes direct to the Assay Office. Before any attempt is made to analyze 1t and as- certain it's real value the purchaser receives a certified check from the Assayet for 9s per cent of the value supposed to be contained in the bars The check can be converted into cash immediately and the delay of two or