Jasper County Democrat, Volume 22, Number 31, Rensselaer, Jasper County, 16 July 1919 — A STEADY STREAM OF GOLD [ARTICLE]

A STEADY STREAM OF GOLD

Workers in Calumet Region Are Sending Big Sums to Europe. Hammond, Ind., July 15. —Bankers in the cities of Hammond, East Chicago, Gary and Whiting, where during the war more than 100,000 iiruunition workers, chiefly foreigners, were employed, are amazed at the stream of gold which has poured into the pockets of these workers, and which since peace was signed is going to Europe in sums of >SOO and >I,OOO, Frequently drafts are sent for three to five times these amounts. Banks in the Calumet district find themselves swamped in the rush for drafts. There is a queue of every foreign exchange window. Bankers declare that the munition workers bring the cold cash with them from home. They do not deplete or draw on their savings accounts. In spite of the heavy drain, there is no falling off in deposits or Liberty bond payments. Banks declare that prohibition also is financially effective. The prosperity of the Calumet region will soon be reflected in Europe.