MELTING SOVEREIGNS

Dominion, Volume 12, Issue 179, 24 April 1919, Page 5

MELTING SOVEREIGNS

CONTRABAND TRADING IN BIRMINOffIAM. The goldsmith's extremity is the crook's opportunity. During these yeara of dearth brought about by the war the free inflow of gold has been suspended. There has been this curious paradox, however, that the embargo on gold had apparently a stimulating effect on the manufacture of gold. In 1917-18 the gold wares'submitted to the Birmingham Assay Office for marking represented a substantially greater weight than in the previous year; says the Birmingham correspondent of the London "Daily News." The figures wera 366,156 ounces against 327.113 apices. , How lies the miracle been achieved? The answer is that it has been done by. mobilising all our resources in old and Misused gold,, remelting whatever we could lay hands uii, and returning it to the purchasing public in brnnd-new articles to suit Ihe modern taste. All manner of people have engaged in tho hunt for gold. The crook has not been, behindhand in the adventure. ,It is largely due to his ingenuity and enterprise that among the manifold privations of war we have not had to mourn n. serious shortage of gold wares. • He did his ,r bit" in bringiiifr to light the hoarded gold coins in which we proved to be unexpectedly rich. It was forbidden gold, but tlint added zest to the quest. ■ After about eighteen months-of war special legislation was passed prohibiting the renielting of gold coins. It wns subsequently made an offence to deal in the coins at more than their face value. But it wns a law more honoured in the breach than the observance. Gold mlvanced 50 per cent, above the standard, «)irf the crook decided that it was worth a little risk if ho. could get 30s. for a pound. Agents ueni: out emissaries far iiiul wide In search of hoarded gold. They wern provided with the necessary CRpiiiv!, and received a commission on nil the. precious metal they could'find. Many bold spirits worked on their own, and pocketed all the proceeds. A very thriving traffic was carried on. Attention wns occasionally' called to the nefarious'business by a capture and prosftciition. . But while the police were quite aware-.as to what was going on, detection was a difficult matter. ;