«T' 



I'VE SOLD THE TREASURY DRY!" 137 



of buyers who came out of the hurly-burly with 

 their wants satisfied I fancied that Myers was 

 selecting the smaller bids to supply and that the 

 end must be near. Yet it came with a shock 

 when the Government agent threw up his hands, 

 exclaiming w T ith a voice that trembled : 



"I've sold the Treasury dry!" 



The long strain was over and the biggest profit 

 our house ever saw was in sight, but I hadn't time 

 to be happy, for the morrow was a day to be 

 dreaded. Forty million dollars in gold were 

 coming out of the Treasury to be paid for with 

 fifty-two million dollars of currency to be taken 

 from the street. Currency was not scarce and 

 the banks could carry the gold down to the last 

 dollar of their currency reserve, since the gold 

 itself up to its par value was a lawful reserve and 

 yet I couldn't see where fifty-two millions were 

 coming from, and what seemed worse I couldn't 

 see where the millions we were sure to need were 

 to be found. For the shorts had been frightened 

 to cover and most of our loans of gold would be 

 returned and we be called upon for the currency 



