The Republican. [volume] (Oakland, Md.) 1877-current, 1908-01-09

Say IhC (dSllCi VI lLlS SuUilSdS-
ury in New York, is no more COM
pick a transaction than buying a
piece of real estate. Whatever
difference there is in the two is in
favor of the gold purchase. In it
YOU are pretty sure to get the
value of your money.
Much of the gold bought by the
large banking houses of New York
and other American cities is pur-
chased from: the Bank OF England
or the Bank Of France. Its pur-
chase is arranged for by the Eng
fish 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.
IN panic times, when every dollar
of gold that can be secured is be-
ing eagerly sought by the bankers
here, the price is as high as s and
s per cent.
The shipment of the gold is ac-
companied by comparatively few
extra precautions, all extra detec.
tive or two from Scotland Yard
perhaps, and as many other private
detectives employed by the Bank
of England furnish all the protec-
ton needed.
All gold imported into this coun-
try comes in one Or two forms. 1t
is either in gold bars or in coin. If
in coin it is usually American
money that has been sent abroad
in some previous year, for a COM
Daratively small amount of foreign
gold coin is brought here. Wheth-
er in bar or coin, however, it is all
shipped in small steel cases. The
bars Of an exact length, so as TO
permit them being packed tightly
in the cases, while the coins are in
bags, irrespective of denomination,
that hold just 500 ounces.
The arrival of a gold laden ship
at her pier in the North river is no
different, SO far as precautions for
the gold itself are concerned. from
that Of any other vessel. There
are always government officials,
city police and private detectives
to meet each ship, and the arrival
Of boat with $40, 900, 900 in gold
aboard will result in no more than
one or two extra men being pres
ent to ride on the wagons carrying
the gold away from the pier,
The steel boxes, with their
precions contents, as they are cart
ed down from the ship to the wharfs
might from their appearance con-
tain only ordinary merchandise.
If any unusual precautions be
taken, however, it is during the
brief moments that the boxes with
their millions are lying OH the
pier waiting to be lifted into the
wagons and Carted away Then
they are watched by a good many
pairs of eyes, and not a stranger is
allowed to approach anywhere
near them.
The final act of the purchase of
gold differs in times Of panic and
at ordinary times. In times of
panic, when the necessity for gold
is SO great that every moment is
precious, its real value in relieving
situation comes only when it is
piled high on the counters of the
banks and trust companies await
ing the demands of the creditors
Of those institutions.
The gold that arrives in bars
goes direct to the assay office. Be-
fore any attempt is made to ana
lyze it and ascertained its real val
lie the purchaser receives a certi-
fed check from the assayer for %
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 three days necessary to make a
complete assay Of the shipment is
avoided. Whatever additional
sum is due the purchaser after the
ocenyar,c -o,N1,t &c ,,,oJo he -aoo;,,o.,