I believe. Secretary Fosr. now. there is a demand for this gold from abroad. and the truth is we owe the money and it is natural. My best information is that our securities are not coming back here we are shipping securities abroad. but when you take into account the shrinkage of the balance of trade as shown upon the customhouse books compared with former years. and then deduct from that the balance of what our people spend abroad say $120.000.000. $80.000.000 balance freight. $25.00000 undervaluations (and think it is probable we are cheated that buchi). 2.000.000 servantgirl funds sent abroad. (the balance on postal money orders is $12.003.00 agaist us). the Chinese send what o money they ae to hi t of th money of the Italians goes back. 75.00o Anericancitizens go abroad every year in the steerage who spend more or less money. all of these elements must be considered in determninig the balance of trade. When you take all these elements int account you will find we owe money abroad. Seeing these things. the Secretary felt that we should keep all the money we codin gold.
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