Valdez daily prospector., 1914-07-09
GOLD EXPORTS
 ARE VERY HEAVY
Government Makes the Biggest Transfer In It's History to
 Meet Demands.

United States Express Company, arm ed with repeating rifles and auto matic revolvers, have delivered $43.- 000,OOO to the Sub-treasury in this city in the last week. The gold in bars and coin came from other branches of the United States Treas ury and constituted the greatest transfer ever made between Sub treasuries. The last of the gold came in over the Lehigh Valley Railroad yesterday morning It was contain ed in five express cars, each bearing $5,O00,OOO.
 These transfers of gold by the gov ernment were prompted by the fact for the last six weeks we have been losing gold to Europe on large scale. Since the first of May $53,- 100000 has gone out and since the beginning of the year a total of $69 ,- 000,000. At the start of the move nlent bars were taken from the New York assay office, but the supply there ran out quickly and nearly all the shipments of the last month have been made in coin taken from the vaults of the United States Sub treasury here.
 After $40,000,O00 coin had been thus lost to this country the government is said to have decided to put a check on any further shipments of coin. This was to be accomplished by putting bars at the disposal of the bankers who have had to ship gold to meet payments due to Europe which could be settled in no other way. This is the interpretation which the financial district put yesterday on the bringing here of $25, ,O00,O0 in bars and the notice given to the exporting bankers that beginning on last Monday gold bars would be put at their disposal at the rate of $5,- 000,000 day. Coin of course is paid out at it's face value. For bars the government receives a premium
 The $25,O00,0OO in bars came from the Sub-treasury at Denver. It con- stituted in itself high record for a single consignment sent out by the government. The pages of federal financial history have to be turned back twenty years to- find another transfer that approached the one from Denver in magnitude, and this was made in the days before the gov ernment intrusted to any other az ency the handling of it's Treasury funds in bulk. It amounted to $2O,- 100000 and came from San Francisco by mail train, being handed over from one mail department to another along the route from the coast.
 The rest of the $43,OO0.0OO was di- vided into shipment of $13,OOO.O 900 in coin from the Philadelphia mint and $5,0O0,000 from Baltimore. also in coin. The vast transfer was made partly to reimburse the Sub-treasury here for a part of the gold delivered in exchange for gold certificates and sent to London and Paris and Ber- lin in the present export movement and to provide for any further pos sible drain upon the government's holdings at this centre.
 The United States Express Com pany's agents breathed a sigh of re- lief when the last consignment had been safely ferried across from Jer- sey City and deposited at the Sub treasury. Although the treasury of- ficials decided on the transfer of gold rather suddenly, the express com pany was not unprepared for the work. Since 1904, when an exclu- siye contract for handling shipments Of government specie. gold bars, and bills was made with the Treasury by Senator Thomas c. .Platt. head of the United States Express Company. that company has made many such trans fers and has force of men trained for the work.
 The gold coin was put in the cars in Baltimore and Philadelphia in bags containing S50.000 each. and four guards were assigned to each car, The cars were sealed and were @ @un- opened untA a representative of the expEess company broke the seals in Jersey City. There the baks were counted. but in ssfss, and taken aboard the ferry boots.
 ospheun Tonight.
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