Rebecca Smith
Where Is The Gold In Fort Knox – The US Bullion Depository, commonly known as Fort Knox, is a fortified storage building adjacent to the US Army post Fort Knox in Ktuck. It is managed by the US Treasury Department. This repository is used to store most of the United States’ gold reserves, as well as other valuables owned or held by the federal government. It currently holds 147 million troy ounces (4,580 tons) of gold in bullion, more than half of all gold currently held by the federal government.
The Treasury established a depot in 1936 with assets transferred from the military. Its purpose was to keep the gold stored in New York and Philadelphia, in accordance with the plan to remove the gold reserves from the coastal cities to areas that are not in danger of being attacked by foreign forces. The first shipment of gold to the camp took place in the first half of 1937. The second shipment was completed in 1941. This inventory, managed by the United States Postal Service, totaled 417 million troy ounces (12,960 tons), about two-thirds of the total gold reserves of the United States.
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During World War II, the original signed copy of the United States Constitution, the Declaration of Independence, the Articles of Confederation, Lincoln’s Second Inaugural Address, and the text of Lincoln’s Gettysburg Address were kept in his vault for safekeeping, along with Gutberg’s Bible and a copy of the Magna Carta. After the war, the warehouse contained the crown of St. Stephen and the products of opium and morphine. Known today are the 1933 Double Eagle gold coins, the 1974 D aluminum trunk, and the twelve 22-carat Sacagawea gold coins that flew on the Space Shuttle Columbia, including STS-93, in 1999.
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A depot is a security facility. The barbed wire rings between its barbed wire and the granite-faced concrete structure. The area is monitored by high-resolution video cameras and microphones. The substructure consists of steel plates, I-beams and concrete-encased cylinders. Its fireproof and fireproof doors are 53 inches thick and weigh 20 short tons (18 tons). The vault door is set to lock for a period of 100 hours and can only be opened by warehouse personnel who must enter the separate ingredients. Visitors are not allowed. So safe that the phrase “safe as Fort Knox” has become a byword for safety and security.
The building was listed on the National Register of Historic Places in 1988 for its status as a “famous landmark often referred to in the context of fact and legend” and its “outstanding importance” in the “economic history of the state.” The site is located at the modern intersection of Bullion Boulevard and Gold Vault Road.
In June 1935, the United States Treasury Department announced its plan to quickly establish a gold reserve at Fort Knox, Kt. Its purpose was to store the gold that was stored in the New York Assay Office and the Philadelphia Mint. This goal was in line with the plan that had been announced earlier to move the gold resources from the coastal cities to areas less vulnerable to invasion by foreign troops. This policy has resulted in approximately 85.7 million troy ounces (2,666 tons) of gold being transferred from the San Francisco Mint to the Dwarf Mint. The first plans were to be completed in August and required an area of ​​930 square meters.
Many military advantages of this area have been mentioned. The invading army from the east coast had to fight their way through the Appalachian Mountains, which were considered a reasonable obstacle for the soldiers of the time. It was also far from railroads and highways, which would have hindered invading troops even more. Any flight into an area above the mountains was considered dangerous for a non-local pilot. Finally, the only fully organized cavalry unit was stationed at a nearby fort and could easily be used to defend the camp.
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In 1936, the U.S. Treasury Department began building a U.S. billion dollar warehouse. in the area assigned to you by the army. The gold was completed in December of that year at a cost of $560,000 (equivalent to $8,700,000 in 2021).
The first wave of gold shipments took place during the fortnight between January 11 and June 17, 1937, and was managed by the United States Postal Service.
The gold was transported by train from the New York Assay Office and the Philadelphia Mint in mail cars and escorted by the city police.
Guarded by soldiers armed with armor-piercing bullets and machine guns, the gold was moved from trains to military trucks. The trucks were escorted to the depot by the tanks of the First United States Cavalry.
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The Post Office charged the Treasury Department a fee for shipping the weight of the boxes and gold by fourth-class post plus additional insurance charges.
This lot represented 44.84% of the entire US gold reserve, which at the time was 351.9 million troy ounces (10,947 tons).
Secretary of the U.S. Treasury Department Gree Mortaugh Jr. announced the completion of an additional shipment of gold totaling 258.74 million troy ounces (8,048 tons) from the New York Assay Office to storage. The total amount saved after completion was 416.56 million troy ounces (12,956 tons).
This amount represented 65.58% of the total US gold reserves, which at the time were 635.2 million troy ounces (19,757 tons).
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This wave of letters started last July and was followed by Swiss Post.
The construction and initial activities of the camp occurred at a time when gold reserves in the United States were growing at an unprecedented rate. In 1933 these reserves were 194 million troy ounces (6,019 tons), and in 1939 they increased to 503 million troy ounces (15,641 tons). Larger flights to the United States and weapons programs in Europe have boosted US exports.
The largest part of the increase, 277 million troy ounces (8,620 tons), was due to gold imports. Of this, 174 million troy ounces (5,421 tons) came from foreign mines (mainly South Africa), 89 million troy ounces (2,755 tons) from central bank reserves (mainly France and the United Kingdom), and the rest came from other sources (mainly private businesses in India). Only 6 million troy ounces (178 tons) came from gold purchased under the Gold Purchase Program of Executive Order 6102 in January 1934 (which required individuals and corporations to bring all their gold and bullion to the government), and 26 million tons (800 tons) came from domestic production and coinage after the return of gold.
By 1940, the total reserves of the Treasury held in all areas had increased to 628.4 million troy ounces (19,546 tons).
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Total U.S. gold held in all areas increased to 651.4 million troy ounces (20,262 tons) in October 1941, and for the year was 649.6 million troy ounces (20,206 tons).
Archibald McLeish deciphers the Declaration of Independence and the U.S. Constitution after returning from Fort Knox storage at the Library of Congress in October 1944.
Librarian of Congress Archibald McLeish expressed concern for the safety of important library exhibits when he took office in 1939.
As the Battle of Britain continued in the summer and fall of 1940, McLeish asked the United States. Geological Survey for underground storage of “important paintings and books” and “sufficient distance from Washington.”
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In December 1940, he ordered his staff to compile a detailed inventory of the Library of Congress’ “most valuable” materials and the space needed to store them. Special attention was paid to issues that are “considered the most important in the history of democracy.”
When it became clear that Congress would not support the construction of a separate facility, McLeish considered other options.
On April 30, 1941, he requested several thousand cubic feet from the Secretary of the Treasury at Fort Knox for the library’s most important items. The writer answered and gave the library work t cubic meters. In July, when the inventory was completed and it was determined that approximately 40,000 cubic feet would be needed to store all unique and irreplaceable materials, the original t cubic feet increased to 60.3 cubic feet.
These were: the United States Constitution (originally signed); Declaration of Independence (original signed); Lincoln’s Second Chapter Address (first self-published); Lincoln’s Gettysburg Address (first and second autograph versions); Gutberg’s Bible (copy of St. Vlasius-St. Paul); Articles of Confederation (signed original); and a model copy of the Magna Carta of Lincoln Cathedral,
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On December 26, 1941, the goods were put into four boxes and sent by train to the depot.
Although the warehouse was bombproof, it had no air-conditioner etc.
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