Atlanta semi-weekly journal. (Atlanta, Ga.) 1898-1920, 1919-06-13

WASHINGTON, D. c., June 9.-Never,
wv since galleons with bullion sailed the
Spanish Main, has so much treasure
travelled about the world as in the past few
years.
Ships filled with gold and silver worth
millions have crossed the Atlantic again and
again, sailing in secret and under heavy con-
voy. Enormous quantities Of gold and silver
have also crossed the continent. The world S
money is just now settling down to its accus-
toned channels, after being used again and
again in the transaction Of the greatest bust
ness deals in history.
Unusual money movements started with
the threat of in Europe, when England
and France began gathering gold and silver
into their treasures. Germany had been
gathering precious metals and boarding them
for long time.
AS soon as the war was we'll under way,
the tide changed, and the gold and silver
gathered by the bellgerents began flowing
into the United States and other neutral
countries in payment for food, clothing and
munitions.
AS a result of the past four years of con-
tinuous redistribution of gold, the allies and
neutrals now possess practically all the gold
supply Banks of large European countries
hold from $1O0,00O,000 to 100000, 5000 in
gold, while the United States has as it's share
over $3,O00,000,O00 worth in coin and bull
lion, which is one-third of the world supply.
Before the war, the United States was a
debtor to European countries to the extent of
some $7,000,000,000, chiefly through loans
made to by England, Germany, Holland
and France. To day we are a creditor nation
with Europe owing us over ten billions.
At the very first of the war, shipments of
gold and silver stopped entirely. Sea travel
was more uncertain then than later, because
the German submarine was a mysterious
menace and protection for ships had not been
devised. Neither the allies nor the neutrals
had adjusted themselves to the new sea war
fare.
The shock that paralyzed gold transporta-
ton was when the steamship Kronprinzessen
Cecilie set out from New York just before the
beginning of the war, carrying $4,000, 900
worth of gold for England. 1t had not gone
far when war was declared, and that same
day it was pursued by German ships, and to
escape capture was forced to turn back to
the United States.
For six months after this, gold shipments
were practically suspended, and the United
States fell behind in it's obligations to Europe
to the extent of $450,000,000. Later, ships
laden with tons of gold and silver bars
crossed and recrOssed the Atlantic, from Eng
land and France to the United States, and
from the United States to Spain.
Mines and submarine attack were guarded
against by taking the safest routes and en-
ploying conveys. Money is always guarded
carefully when it travels, and in time of war
precautions are doubled.
When India was in urgent need Of silver,
the United States melted $265, 100000 silver
dollars into bars, each containing $1,000
worth of silver. At different times parts of
the amount were loaded on special express
trains of five cars each, and carried from
Philadelphia to San Francisco. The five or
ten million dollars in silver aboard each of
these trains was guarded by express messen-
gers, two men to car, and each man armed
with pistols and a sawed off shotgun These
guards were placed by the express company
responsible for the insurance on the silver
At the wharf the bars were unloaded and
packed into the steel treasure vault of the
steamship that was to make the voyage On
the other side similar precautions were taken
until the silver was safely delivered to the
banks. Not until load of bullion was safe
ly deposited on the other side of the Atlantic
was the announcement made that the money
had been shipped.