Daily Kennebec Journal

Gold Shipping Highly Guarded In Argentina

New York, Dec. 15—(By A. P.)—Balasted by a ton of gold, over which swarthy soldiers stood guard day and night, the steamship American Legion has arrived here with its precious treasure of $5,000,000 in bullion from Buenos Aires. It is the first gold legally to be exported from Argentina since the wartime embargo and, according to Munson Line officials, the largest consignment ever to pass between the two continents.

The gold, in 20 oaken chests bound with metal and sealed, was shipped here by the Argentina National Bank for deposit against London drafts to pay the coupons on part of the Argentine external debt. Since the debt is payable in sterling, the gold probably will be exchanged for British pounds, after which it will go into storage to remain until it is minted or rejoins the stream of bullion constantly flowing between the United States and foreign countries.

Because of the difference in the rates of exchange the government of Argentina expects to profit to the extent of about 3,500,000 paper pesos in New York when the gold is exchanged for pounds sterling.

Handling large shipments of gold and silver bullion has become commonplace with trans-Atlantic steamship companies and the bullion is handled as so much "merchandise." But the shipment of a few millions from a South American country becomes a national event, and the steamship chosen for its transport is freighted with responsibility.

The removal of the $5,000,000 from the Argentina National Bank to the ship was attended by the greatest of precaution. It was rushed through the streets of Buenos Aires accompanied by guards armed with pistols, rifles and swords and hustled into the burglar-proof vaults of the American Legion. The precious cargo was under strict watch throughout the voyage. Upon arrival here similar precautions were taken, the regular police being augmented by armed guards while the armored trucks that carried the gold to a government subtreasury were protected by armed men.

Handling gold has become so common with the largest trans-Atlantic steamship companies and the agents of the lines and even the dockmen have become blase about handling millions of the metal. The process of loading, storing and unloading gold in international shipments has become so systemized that the factors of responsibility and risk are considered hardly more than in the transportation of a box of toys. An official of the International Mercantile Marine explained that the companies feel perfectly at ease when the gold is placed in a ship's vault. In transporting the gold to and from ships guards are usually provided by the consignor and consignee.