CHAPTER I. South Polar Gold jflHEN the news came of the discovery of gold at the south pole, nobody suspected that the beginning had been reached of a new era in the world's history. The newsboys cried "Extra!" as they had done a thousand times for murders, battles, fires, and Wall Street panics, but nobody was excited. In fact, the reports at first seemed so exaggerated and improbable that hardly anybody believed a word of them. Who could have been expected to credit a despatch, forwarded by cable from New Zealand, and signed by an unknown name, which contained such a statement as this: "A seam of gold which can be cut with a knife has been found within ten miles of the south pole." The discovery of the pole itself had been an- nounced three years before, and several scientific parties were known to be exploring the remarkable continent that surrounds it. But while they had sent home many highly interesting reports, there had been nothing to suggest the possibility of such an amazing discovery as that which was now an- nounced. Accordingly, most sensible people looked upon the New Zealand despatch as a hoax. But within a week, and from a different source, flashed another despatch which more than confirmed the first. It declared that gold existed near the south pole in practically unlimited quantity. Some geologists said this accounted for the greater depth of the Antarctic Ocean. It had always been noticed that the southern hemisphere appeared to be a little overweighted. People now began to prick up their ears, and many letters of inquiry appeared in the newspapers concerning the ^ ^^— — — ^^_ __ wonderful tidings from SV. : *? - the south. Some asked for information about the shortest route to the new gold-fields. In a little while several additional reports came, some via New Zealand, others via South America, and all confirming in every respect what had been sent before. Then a New York newspaper sent a swift steamer to the Antarctic, and when this enterprising journal pub- lished a four-page cable ^w^^***^^"^ m ' ■ " describing the discoveries in detail, all doubt van- ished and the rush began. Gold Loses its Vahie, and the Markets o£ the World Are Upset SOME time I may undertake a description of the wild scenes that occurred when, at last, the in- habitants of the northern hemisphere were convinced the boundless stores of gold existed in the unclaimed and uninhabited wastes surrounding tha south pole. But at present I have something more wonderful to relate. Let me briefly depict the situation. For many years silver had been absent from the coinage of the world. Its increasing abundance rendered it unsuitable for money, especially when contrasted with gold. The "silver craze," which had raged in the closing decade of the nineteenth cen- tury, was already a forgotten incident of financial history. The gold standard had become universal, and business all over the earth had adjusted itself to that condition. The wheels of industry ran smoothly, and there seemed to be no possibility of any disturbance or interruption. The common monetary system prevailing in every land fostered trade and facilitated the exchange of products. Travellers never had to bother their heads about the currency of money; any coin that passed in New York would pass for its face value in London, Paris, Berlin, Rome, Madrid, St. Petersburg, Constan- tinople, Cairo, Khartoum, Jerusalem, Peking, or Yeddo. It was indeed the "Golden Age," and the world had never been so free from financial storms. Upon this peaceful scene the south polar gold discoveries burst like an unheralded tempest. I happened to be in the company of a famous bank president when the confirmation of those dis- coveries suddenly filled the streets with yelling f)NE of the finest pieces of scientific tion ever -arritten is v THE MOON METAL. This classic, by the welt- The Gold Standard Eliminated and Disaster Impending I ET me one of those 'extras'!" he said, and an office-boy ran out to obey him. As he perused the sheet his face darkened. "I'm afraid it's too true," he said, at length. "Yes, there seems to be no getting around it. Gold is going to be as plentiful as iron. If there were not such a flood of it, we might manage, but when they begin to make trousers buttons out of the same ^^^^^^^^^^^^^^^ metal that is now locked known Professor Garrett P. Serviss, contains a tremend- ous owoiitii of excellent science. While this story was written at tha close of the th century no one in this lat- ter day of transwi.txhii of reiiUo over great distances, and the actual accomplhU'nent of trmismulaliim of gases and the like, can find fault or can- question thai such a scheme, as propounded by the. author — that is, of extracting ore or metal from a distant body ■Li.'iUioid interrcniiig physical means — can some day be accomplished. The story keeps uj< a tremendous interest, because yo:t are net permitted lo know-, for quite a long stretch, just how The Moon Metal was extracted from the moon. The illustrious author has long enjoyed a reputation as Here e and guarded in steel vaults, where will be our standard of worth? My dear fellow," he continu- ed, impulsively laying his hand on my'arm, "I would as willingly face the end of the world as this that's coming?" "You think it so bad, then?" I asked. "But most people will not agree with you. They will re- gard it as very good news." j™™is»Si™sHii!iiisH "How can it be good?" Mum ^r.^^^ r ^ m ^ r ^ ntm ^ Jmy-st out. "What have we got to take the place of gold? Can we go back to the ago of barter? Can we substitute cattle-pens and wheat-bins for the strong boxes of the Treas- ury? Can commerce exist with no common measure of exchange?" "It does indeed look serious," I assented"* "Serious! I tell you, it is the deluge!" Thereat he clapped on his hat and hurried across the street to the office of another celebrated banker. His premonitions of disaster turned out to be but loo well grounded. The deposits of gold at the south pole were richer than the wildest reports had rep- resented them. The shipments of the precious metal
