"As [Bloom] explained in a recent letter, ‘Once the Philadelphia Mint experimented and found $5.00 was lost by abrasion every time a million dollars worth of gold coin was handled. Just lifting the bags—each filled with $5,000 worth of gold coin—to the truck resulted in a $5.00 loss; transferring them back to the mint caused another $5.00 loss. Letting the stuff rest quietly at Fort Knox instead of moving it around nervously to Sub-Treasuries makes us richer.’"

I will call the manager of my gold vault in Manhattan and tell him to not even wiggle a gold bar.

Thanks to Grandfather Orosz's heavy investment in the Ace Buggy Whip Co. back in 1910, I am spared the need to move bags of gold from bank to bank!

What delightful story this is, and if it is not true it ought to be! Unfortunately, I don't own a single book by Murray Teigh Bloom, so I can neither confirm nor deny the accuracy of this claim.

Let's just hope that, in this political season, no bloviator running for Congress gets hold of this information. If so, they can claim that their decision to do absolutely nothing for the past 6 years has actually been a successful deficit-reduction strategy!

I think Dickson was quoting personal correspondence from Bloom ("a recent letter," he says), as opposed to quoting from Bloom's book. He does, however, cite Bloom's Law as coming from the counterfeiting book. If I understand correctly, then, Bloom's story comes from a letter, but his Law is in his book. [... somewhere. -Editor]