The Washington times. [volume] (Washington [D.C.]) 1902-1939, 1923-02-25
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The U. S. Gold Corner.
What Can We Do?
Underwood weighing"
Real Weight Needed.
By ARTHUR BRISBANE
Copyright. 1sas.,

eeOtSttS SSSSSS
by ARTHUR BRISBANE
Copyright. 1s3a.I
A LII THAT YOU RE AID
- about America must help
Europe" or America cannot
stand aloof,n or "It would have
been so different if America
had stayed in" means not what
Is said. It means simply that
Europe Is sooy7ied about the gold
monopoly Of the United States.
THIS COUNTRY now has
about one-half of all the
gold in the world, and the total
isn't much about ten thousand
millions of dollars worth.
Our gold accumulations are
Increasing. There Is nothing to
prevent our having practically
ALL the gold in the world,
nothing apparently to stop our
automatic process OF aecumula-
ton.
EUROPE HAS some gold,
- which is as valuable as
ever. and . great deal of cur
rency more or less shrunken in
value. Still the gold keeps COM
ing here, except q comparatively
small part that goes to India.
What goes to India will be
buried away. Ladies wear it
on their ankles. in bracelets;
rajahs hide it, hoard it and
weave it into cloth. A little
stays in the banks.
EUROPE IMAGINES herself
- "on gold basis" England
especially thinks "every bank
note represents gold, " and Europe
would like to continue inagin-
ing itself aon a gold basis. =
But how can you be on q gold
basis if you haven't got any
gold? European nations can't
issue money and call it gold
basis money with all the gold
In America.
They might az well issue gold
certificates against gold that the
spectroscope shows IN the sun.
That is what is troubling Europe
now. That is why they beg rs
sPIease come in" or "Don't
stand alone" meaning Kindly
send back some Of that gold,
and supply US with . golden nest
egg.
nHEERFU 4 THEORISTS,
~ from William Jennings
Bryan to the greenbackerg Of
Kansas, viii tell you that gold
isn't necessary. the world would
be better off without it. But
practical bankers in Europe
don't think so. They feel that
their currency needs q backbone,
and gold is the hsetone Of
money.
What would you suggest?
Should we ship half Of our gold
back? II SO, to what nation
should we send it-England,
France, Italy, Poland7 What
should we get, what COULD
we get, in exchange?
Shall we lend our gold? Lend
ing to Europe hasn't proved
much of a success. On the con-
trary, each dollar lent has IN
creased hatred of the United
States. The borrower hates the
lender, especially when he does
not intend to pay.
MEANWHILE the gold pours
AVA in and accumulates. Per-
haps Providence is doing it
with a definite plan. Gold
has been the root Of much evil,
the cause of much trouble,
since and before the days of
King Midas. Perhaps when we
get it all and Europe has none,
those powers will be more will
ing to listen to our friendly
advice, Work instead Of fight
ing, advertise instead Of hat
ing"
Meanwhile it is certain that
the United States has a most
successful and appealing "cor-
ner in gold" and that the real
center of world finance has
moved from London to New
York, whatever that may mean
in the future.
Credit follows gold, and the
gold is here.
CENATOR UNDERWOOD, of
~ Alabama, able politician, is