The Feilding Star. Oroua & Kiwitea Counties Gazette. Published Daily. SATURDAY, MAY 4, 1895. GOLD AND WAR.

Feilding Star, Volume XVI, Issue 258, 4 May 1895, Page 2

The Feilding Star. Oroua & Kiwitea Counties Gazette. Published Daily. SATURDAY, MAY 4, 1895. GOLD AND WAR.

qp Ai/rHotrrui vce are not advocates of war, and do nor. believe that the indiscriminate slaughter of men, unless in the defence of liberty aid country, is either justifiable or excus- j able, yet those who favor " hostilities j among- the nations " as a means of promoting- commercial activity, have some reason on their side, especially I when the question is looked at from tlieir standpoint alone, and the poms and agonies ot wounded and mutilated men, with the bitter sorrows of ! the widows and orphans are treated as matters of very secondary consequence, hardly worthy of a moment's serious consideration -commercially A writer in an English paper, in dealing with the millions of peDple who are suffering- from low prices and lack of employment, points out that the stocks of gold in Europe are not waiting- investment in the ordinary sense of the word, but really constitute the war chests of the nations. Great. Britain, which could raiselarg-e sums of money at a moment's notice, is satisfied with some thirr.y-five millions of »old in the Bank ot England, but on the Continent much larger supplies are kept at ready command, 'ihc Hauk of Franco, for instance, has no less than seventy seven million .sterling- in g-old stored in its vaults, as well as sibout fifty millions in silver coin, which, being- legal tender, could be put into circulation to meft any sudden emergency- 'Ihe Imperial ißank of Germany holds thirty-sftven millions in gu!d, and Kussia is credited with having one hundred millions at her disposal. In Kussia the currency is the inconvertiable paper rouble, and the bullion answers no other purpose than that of maintaining the creait ot the country in the money markets of Europe while peace lasts, ami of giving command of a vast treasure for military purposes the moment it is broken. It is easy to realise that the maintenance of' these immense war-chests seriously aggravates the commercial depression from which we are suffering. England can afford to rely upon resources outside her stock of gold, but it is doubtful if Kussia and France would willingly reduce their huge reserves of the precious metal by a singie coin. In the event of an European war these vast treasures would of necessity he released ; once more become a part of the world's currency and thus lower the value of that precious mecal gold, the appreciation of which has. it is alleged, done so much injury to trade and commerce. If Kussia and Japan come to blows, and such a result from the present bickering between the two nations is not unexpected, the contingency of a war among' the Great Powers may be accepted almost as a certainty, and the prospects of trade improved at the cost of much bloodshed and suffering.