Wausau pilot. [volume] (Wausau, Wis.) 1896-1940, 1908-04-14
OUR TREASURY FLOWS
WITH YELLOW METAL
Uncle Sam Now Has More than
$1,000, 900, 900 in Gold.
GREATEST IN ALL HISTORY.
Tremendous Accumulation Makes the
United States Croesus Among
Nations of the World.
Washington Correspondence

Washington correspondence
The United States is the Croesus
among nations There is on deposit at
present in the United States Treasury,
sub-treasuries. minis and assay Offices
more gold than ever before in the his
tory Of the country. It represents the
most valuable stock of the yellow metal
that the world has ever seen or perhaps
dreamed of. 1t reaches the tremendous
total of $1020,373.471. If the coins
were laid upon each other they would
make shiny monument 40 miles in
height. They weigh almost 100000
pounds. Every ounce of the metal has
been the cause of hardship, most of it
duced joy, sometimes mad intoxication.
1t has inspired greed, lust, envy and
murder 1t has created romance. To-
day it is the symbol of prosperity Of
the wealthiest nation in the world
What One Billion Could Do.
1t takes the breath away, that
thought of one billion dollars in gold.
Think what could be done with it. The
national debt of the United States
could be wiped out, if the gold could be
used for any such purpose, and there
would remain a comfortable balance. 1t
would provide 100 battleships Of the
Dreadnought type, fully equipped for
service. 1t would support the navy for
ten years, the army for a similar pc
riod. The United States could refrain
from drawing cent of revenue for one
year. and yet the gold in its vaults and
in the institutions ii controls would be
sufficient to meet its tremendous ex-
penditures.
OF course, all this gold does not be-
long to the government. Gold certificates
are in circulation against coin valued
at S796, 1863. That is to say, every
person who has one of these certifi-
Gates is entitled to step up to the coun-
ter of Uncle Sans paying office and
say: "Give me the equivalent of this in
gold" The demand would have to be
complied with instantly Then S15O,0OO-
900 constitutes what is known as the
gold reserve. 1t is maintained by law
for the redemption of greenbacks To
the credit of the government also is an
additional $45,395, 100, for which gold
certificates have been issued. Finally,
there is coin valued at $34 ,966, 412 lying
in the cash boxes of the United States
Treasury and sub-treasdries ready to be
paid out whenever call is made
The people, however, do not want
gold. On the Pacific SLOPE it is still the
fashion to use the yellow metal, but in
the e:fete Vast, as in the more effete
East, it is not wanted. 1t is heavy,
bulky and inconvenient. 1t exposes the
holder to robbery and perhaps death.
Eherefore, as sooa as miner obtains
pound of gold or any one else gets
hold of the metal his hrst act is to take
it to an assay Office to determine its
purity and then to turn 1t into one of
the government minis for coinage.
When this is done the owner receives
the gold certificates. Certificates are
not issued against bullion
Other Nations Like Our Gold.
1t is estimated that the total stock
of United States gold coin is 81,
63S, 100000 Thus, there is something
like $500000,000 which is not in gov
eminent repositories. Where is it? A
large quantity is in national banks, not
less than $125 100000. Probably $780,
100000 more lies in the vaults of other
than national banks. In the vaults of
the Russian treasury at st. Petersburg
there are piles of canvas bags contain
Ing something like $1S,0O0,00O in Unit
ed States double eagles. The holdings
Of United States gold coin in the treas
ury of the Dominion of Canada as
reserve for Dominion treasury notes
| amount to more than S300O0,000. Other
nations think so highly of American
gold coin that they have quietly gath
cred. stock of it and put it where, in
pinch, it will do the most good.
OF all the nations this country has
| the greatest supply of the yellow metal
Germany is second, with 1,030, 10000
which is $600,O00000 less than we
have. France is third with SS26, 400
| 600, Russia fourth with S639, 400, 900,
United Kingdom fifth, $4S6, 700 900, and
Austria Hungary sixth, $306, 400, 600
| France, which has less than half the
population of the United States, has
the largest per capita proportion of
| gold, $23.57. The United States has
$1S.66. Germany, SIT. The United
Kingdom. $11.03. Russia, $3.50, and
Austria, $500.