Page:The Green Bag (1889–1914), Volume 12.pdf/435

 402

I went to the Guildhall Library and looked up a book on the 'subject. I found every thing satisfactory except for one detail, and that detail, Stevens, is the devil. I found that although the Bank of England pays only 77 s. 6 d. an ounce for gold— I 1-2 d. per ounce less than the mint—yet in practice it is bet ter to sell gold to the bank for cash than to wait an indefinite time for the mint to turn it into coin. It has, therefore, happened that since the passing of the Coinage Act one firm, only one firm, has ever sent gold to the mint to be coined. Only one!" "I remember now," said Stevens, " I re member reading about it years ago." "This makes it impossible for us to send our gold to the mint. We should be curi osities who would attract universal attention, and I may say, Stevens, that public atten tion is not exactly what we desire. As members of a crowd we could have passed unsuspected, but as the claimants of a right which has lapsed in practice we should be the objects of most embarrassing scrutiny. The half-penny evening papers would even want to ' interview ' us." "What do you suggest?" "I confess that I don't see my way. It seems absurd to possess,£7,000 in solid gold and to be in difficulties for a five-pound note, but that is just my position. Your position is even worse. I have thought right through the problem and I am out on the far side. Gold is usually handled by bul lion brokers, who are members of well-known and wealthy firms. Private persons never possess unmanufactured bullion in any quan tity unless they steal it, and having stolen it they instinctively shrink from giving ref erences." "You mean that if we tried to sell to a bullion broker, we should be asked for ref erences." "Of course." "Why, in God's name, didn't you think of this before?"

"Because I was blinded by my faith in the mint." Stevens began to pace the room. It was November and cold, but the sweat stood out on his face. " Why not take your courage in both hands and sell to the bank? " They only give 77 s. and 9 d., but it is better to sacrifice i 1-2 d. an ounce than to—" Wallis roared with laughter. "I would love to do it, if only for the humor of the thing, but it would be impossible. They would want to know where I got the stuff, and it would take a very strong lie to carry a hundredweight of their own bars." "What are pawnbrokers for?" "To borrow money from." "Well, couldn't we?" "I have thought of that, but there are difficulties. We should have to find a venal pawnbroker. No one else would look at unmanufactured gold, for it would certainly be stolen property. Now, pawnbrokers are licensed, and overlooked by the police, and their interests generally keep step with their honesty. No doubt there are venal pawnbrok ers, but I can't risk my liberty for the next twenty years by experimenting in searching for one." "I am afraid," said Stevens gravely, " that we shall be obliged to sacrifice a good deal of the value of the gold by selling to a re ceiver. I believe such people are called ' fences.' Of course I won't in that case insist on the whole of my ¿£2,000. I will be content with my share of what the lot sells for." "All right," said Wallis, "you shall have your share and shall sell it to a ' fence,' as you call it. I don't know any ' fences ' my self, but no doubt you are more fortunate." Stevens cursed loudly. " I won't be made a fool of any longer. I believe you can eas ily sell the gold if you like. You promised me my ¿£2,000 just now; give me my money and clear out. I shall never want to see you again."