The Salt Lake tribune. [volume] (Salt Lake City, Utah) 1890-current, 1907-07-02
THE LOSS OF GOLD.

The exports of gold which nave been
such feature i'll alarming the timid
gold worshipers has, it is reported,
about ceased. The question has arisen,
what caused these exports2 Undoubt-
edly the summer exodus of Americans
to Europe is largely responsible for it
These American visitors to Europe
are liberal spenders, they buy hrstclass
ocean tickets as a rule and the money
they pay for these tickets goes abroad,
because the great ship lines arc owned
abroad. Then they take letters of cred
it with them, and the money to meet
these has to be In European banks.
These visitors spend very largely in
Europe, having the best Of everything
IN the way of transportation, hotel ac-
commodations, and they are very gen
erous buyers of all articles that attract,
whether in the line of art, curios, or
clothes Undoubtedly American tour
lists in Europe spend at least $2o0,000,-
900 year, chiefly IN the summer sea.
son, when vacations are numerous and
when this travel is at its height,
Another great cause of the demand
for American gold in Europe is nm
doubtedly found in the money carried
away by the food of returning laborers
from foreign shores who have been in
this country a sufficient length Of time
to earn what to them in their old homes
is competence. The tremendous influx
of foreign labor has been an ever-swell
ing food for sufficient number of
years to allow of the reflex wave, TAX
ing those who have what they want.
The returning emigrants are Of two
classes: those who have made their
"pilen in America aud who go back
home to live. They, of course, take all
their earnings with them, and, in gross,
this is a great amount; another class
of foreign laborers comprises those who.
having saved up enough for return
Journey and a visit of more or less
length at their old home, go there to
see the old folks and to make a spread
of their American success. These will
come back presently to earn more
money, but in the meantime they take
along with them what they have ready
at hand aud spend it abroad. These
two classes take a great deal of Ameri-
can money to Europe.
It was TO avoid, as much as possible,
the loss of gold taken by Americans to
Europe, that the "See America - move
ment was started by the Salt Lake Com
mercial club some three years ago. The
movement had a marked success, and
large interest was awakened in seeing
American points of interest before
Americans went abroad. \ visit across
the continent from sea to sea is far
more often made than it was, and the
transcontlnental movement is growing
in momentum every year. Likewise
the movement is growing for seeing
famous places in this country; as the
great Canyon of the Colorado, the 1el-
lowstone Park, the Yosemite, the Dalles
Of the Columbia, and the Great Salt
Lake. Few tourists traverse the CON
tinent without coming here to see this
great salt sea, and yet in spite of all
the movement, of all the sentiment that
could be created by the "See America -
push, Europe continues vastly attract
i've, and more and more Americans go
there every year. And We may expect
to see an increased food of gold ex-
ported year by year on account of
these summer vacations, as this country
grows in population and wealth, and
the facilities for sightseeing IN Europe
are made more and more easy, and the
sentiment for going abroad is fostered
by the influence of those who have been
there and who come back 10 devote the
rest of their lives in talking about their
European trip.
New York loses the gold in the first
instance, but it draws the most Of it
from the interior, as was openly said
during the late movement in gold eX.
ports. But the country is producing
gold largely, and in the fall it will i'm.
port far moro than it exports in the
spring. And so, while New York is
tremendously sensitive about gold ex.
ports, the country docs not mind it
bit, and goes right along as though
there was nothing of the kind going on.