The Birmingham age-herald., 1914-07-02

gold-laden boxes from the subtreasury to the steamships and who have also seen-for there Is frequent opportunity 10 see-the handling of the bars Of sil- yer which are deposited in various vaults in the financial district. Nobody watches silver bars. If they were pig iron they would apparently be as com pletely neglected. Nor Is there any anx- iety about abrasion. Bar silver in pig Term protects itself. for no thief could find it practicable to lift a bar of sil- yer and then carry it away. its weight Is so great.
 The Current of Gold
 Another feature of this almost phe- nomenal movement of gold, which from one point of view Is mechanical fea- ture, is the rapid and heavily laden currents of gold moving from distant points to New York city. This Is made possible by the facility with which the telegraph and telephone can be oper- ated. A few days ago the treasury de- pertinent was notified that the supply had been reduced to almost nothing, so great had been the demand for this gold for exportation
 Instantly the treasury department communicated by telegraph with other parts of the United States where gold in plentiful amounts was vaulted so that 1t was possible within a few hours to transfer not by means of drafts but the actual gold. from other parts to New York. the aggregate amount being nearly $41.000, 900. It was possible to secure as much as s25,000, ,000 in bars from the Denver mint and there were nearly $20.000,000 of coin secured. part Of it from the Philadelphia mint and part of it from the Baltimore subtreas- ury.
 Some eight or ten yeeSs ago there was shipped from the Pacific coast to New York a large amount of gold. Spe- cial arrangements we're made with the railroad companies for the transporta- ton of the metal. Unusual precautions Were taken to protect the gold, espe- cially in the remote and desolate parts of the country where assaults of train wreckers and train robbers might pos the train. The precautions were as complete as are those associated with the movement of the Czar of Russia. The train rolled into the Grand Gen. tral terminal at New York on time, but carrying very weary company of guards Subsequently, weighing and tests showed that the gold had been so perfectly packed that there was practically no loss from abrasion.
 The shipment of gold from Denver which was one of the largest ever made. attracted no attention. None but the railroad officials knew of this shipment, or at least what means and at what time the shipment was made
 A Change of View When the treasury department began furnishing gold bars in large amount instead of coin 1t was said by some of the authorities that this would tend greatly to diminish the demand for gold for export. It did seem for a lit- tie while to affect the rate of ex- change. but only for a little while After a few days there came a de- mand for one of the largest amounts of gold the treasury department has been asked to furnish for exporta- tion.
 Notwithstandin an exportation oi gold which makes a new record, there still remains an enormous supply oi available gold in the United States. Al Denver there were reported to be or hand s575,000,000 in gold bars and gold coin after the shipment of $25,00o,0 00( to New York. San Francisco has $264,- 000,0 900 in gold bars and coin at the mint, so that these two western hints still have on hand a little over SS00,- 00O.000 in gold bars and gold coins.
 Gold Production
 
 | The best authorities in this city are | inclined to the opinion that the new gold mined in the United States and 1T Alaska in the year 1914 will not pt | of as large an amount as the yield ol | two or three years earlier. Authorities disagree. however, upon the question Have the United States and Alaska reached the maxlmum or yearly golt production?" Some of the authoritie, believe that the maximum amount wa. reached two or three years ago. 9th. CTS do not agree to that view. Alasks 1 is expected to yield constantly increas- | ing amounts of gold in view of the fact that highly perfected scientific mining Is now generally being adopted in that territory.
 Another question which some of the foreign exchange experts have been asked Is this: ''Will this gold come back to the United States latersin the year or early next year." In reply, they say that they do not know, and they look upon it as a matter of Indifference whether or not we regain the gold we have sert abroad.