Word: bullion
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Dates: during 1930-1939
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Last week a U. S. Coast Guard destroyer steamed out beyond the Virginia Capes to police another exciting treasure hunt. Goal was the Merida, sunk in 210 ft. of water in 1911 with bullion and jewels in her vaults. In the Salvor, backed by Vincent Astor & friends, Captain Harry L. Bowdoin set out to catch the prize. Aboard he carried stout metal cylinders with movable legs and arms attached, which were to enable his divers to work comfortably at great depths. The weighty apparatus (1,400 Ib. at the surface) is also equipped with searchlights. Also aboard, Captain Bowdoin carried...
...known March 15 when $700,000,000 of Treasury obligations fall due. Unless the Government makes gold or gold certificates available for their payment, the U. S. will obviously not be on the gold standard. In London, opinion developed that the U. S. would soon be on the "gold bullion basis"-i. e. gold would be available for international trade but not for national circulation...
Belief. Does Japan already have a secret war chest-tons of gold bullion salted down before her yen went off the gold standard? (TIME, Dec. 21, 1931). Rumors persist in Tokyo that this treasure exists, but such secrets are always well kept. To this day Germans do not know whether their Imperial Government really had a War Chest in 1914. Fabulous but kindling to Teuton imaginations, it was supposed to consist of four huge vaults set in living rock beneath a ruined castle, the combinations of the vaults being known only to Kaiser Wilhelm II and to two officers...
...door of the Bullion Room its foreman scrutinized the order, then beckoned to his helpers, strapping hairy-chested gnomes in leather aprons who had rolled up their sleeves for action. Striding into the spacious vault they advanced upon a mass of gold roughly eight times as great as the order called for. The bars, neither bright nor corroded, lay in faintly gleaming piles on low wooden trucks with small, rubber-tired wheels. To each truck slated for moving was attached one of the white tags, reading "Federal Reserve Bank...
...Manhattan, where gold is not kept loose in one extensive vault but divided among what amounts to steel closets in the Federal Reserve bullion room, two closets had been prepared containing exactly $95,550,000 worth of Federal Reserve gold. At 10 a. m. Manhattan time the Old Lady of Threadneedle Street cabled to say in bankers' jargon that she had "earmarked" (with her white tags) $95,550,000 of Bank of England gold, thereby making it the property in London of the Federal Reserve. Promptly the Federal Reserve sent a blue-clad, barrel-chested guard to tie onto...