The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1912-03-01

amount of the metal which is the accept
ed standard of money values throughout
the world has been injected into the
worlds circulation. The United states
treasury is carrying now somewhat over
a thousand millions of gold. let men are
still young who can remember when the
secretary of the treasury at Washington
came to New York to implore the New
York bankers and to plead with Mr. Nor
gan that they. provide the means py
which the exhausted gold in the treasury
could be replenished. From nothing IN
1856 the federal treasury has accuunu-
lated gold until today the United states
leads the nations of the world IN the
amount of gold in reserve held in It's
treasury At San Francisco there Will be
read elaborate statistics showing that
competent mining engineers assert t ta'
the mines of the Rand district and other
parts of South Africa still contain AT
least four thousand millions OF goIo,
which is sure to be mined me ensl!les sa
also are convinced that other great oe-
posits of gold await the coming OF tie
prospector in regions somewhat remote
from the Rand district
Our own Production.
There is no reason to doubt that the
United states including the territory OF
Alaska will continue for years TO mime
annually gold of the value of a hundred
millions And the experts are now con-
WINGED that the annual pf1u tn, long
time reach as much as four hundred and
fifty million dollars.
This stupendous deluge OF gola Is Pr Pr,
suuablv to have great influence upon
values and if this vast production DE
continued fer generation it is likely
completely to change tne 80, CO. %
.nerciaI and monetary gravity .
Some Of our business men are nclnea
to think that above every other qu n1 ~
ceutering upon Pacific commerce oL ~ ~
development Of natural resources VI ~
jnfluence of the Panama canal upon the
trade of the United states VIII pc lhe ~
c11ssions at San Francisco curing In In
hi
answer to the question, What rs TO De
the effect of this amazing proo'1e'i0i-
new gold year by year,
The Movement of Gold.
Inst at this time the part our own golu
is nIaving in international money trans
ao+fons is we'll worth the study not only
of business men, but OF the closeSI STU
emit 1t should also receive cars1ut lives lN.'7s
LEGATION by the committee OF eons d,,sT,
which is to examine the so-called money
trust using that term for convenience,
for there can be no good uhoS-s lal lllll
of the courses which money taxes, espe-
ciaII1r at this time, unless 1t is known
how and why our gold is being shipped
to other parts of the world, especially at
a time when the apparent or visible Faoe
balance is in our favor
our bankers are sending gold TO Areen-
tine and these shipments Will propaply
continue for some time People Wonosr
why it is that the United states Is SEM
ing gold in considerable amounts TO INC
h1Isv reDubIic of the southern hemisphere
But this gold represents international lo,naI
transactions. From one point OF We"
&c ore really lending the gold to Europe.
It goes to Argentine in settlement doenta OF
European accounts Last week CONSIDER
able gold went to Argentine for the ac-
count of Paris Yet our own. trade rela.
tions with Paris or France do not OF
themselves explain this movement what
has taken place is that Paris has Dor
rowed or bought the gold in New york
The bankers who have sent gold to Ar
gentine are reimbursed by ninety-day
bills upon Paris
We are sending gold to Germany. how
60 or what amounts to the same thing,
are lending Germany because there 9;n is is
need in Germany of this money. InSt
nation has not yet recovered from the ef-
fects of the fright of last summer on
account of the Moroccan incident, ana Ior
that reason there is little activity IN the
securities market there. We may lend
money to Germany in large amounts TOT
some time to come, but we are not 10
float any Of our securities in the German
although there are 1ndlcatlo,ns
that we shall be able to do that speedlly
- some extent in Paris. HOLLAND