The Americans have been withdrawing gold this week, about 2450,000,
and the price of all Securities is falling. It is evident from the condition of the Exchanges that more will be with- drawn, and the dealers are panic-stricken by a story that an American Syndicate may be selling American Bonds largely, to as to withdraw gold, and cause a general fall in prices. That certainly might be done, but so it might at any time during the past ten years, and the point unexplained is the modus operandC Vanderbilt, Jay Gould, and the rest cannot sell American Bonds for gold in • London in large masses without bringing down the price of them in New York also, for the two markets respond within a few hours, and how would that pay them P No doubt, they control formidable masses of wealth, but so do other capitalists, and the protection against such a use of it is the old truth that a general fall in the value of securities can never benefit the rich. If a " corner " in gold were tried in England on a big scale, Mr. Gladstone would say three words about the Bank Act, the panic would cease, and the Americana
would be caught, as Jay Gould once was by his own Treasury, in a regular trap.
Previous page
