Eureka daily sentinel. [volume] (Eureka, Nev.) 1871-1887, 1881-08-24

The bullion movement Of the United
States. as recently presented by the Stat
;stical Bureau OF the Government is full
of interest at the present ~juncture. The
statement is the most elaborate thing OF
the kind ever prepared, and shows In
great detail the movement of the precious
metals to and from the country for a long
period Of years; in fact ever since
we had any bullion movement. The
figures extend from the year 1921 to 1850,
inclusive. Up to 1924 there was no gold
coin or bullion exported from or imported
into the United States; but in 1925 the
movement began, and may be said to
have increased, with varying fortunes,
up to the present time. With only two
exceptions there was an excess OF imports
over exports Of gold coin and bullion
from 1926 to 1885, the movement for the
latter year having been the largest up to
that time for any n year, and was Slo,-
924, $50 in our favor. In 1913 we m
ported ST., 766, ITO more than we export
ed; in lS47, $40, 599. $50. and in 1861,
s3S,677,s 27. The difference between the
exports and imports in the intervening
years were slight as a rule and quite un-
important. After 1861 there was, as is
well known, a great emission OF paper
money consequent upon the rebellion
which drove gold out of the country In
large amounts. This state OF affairs con-
tinued until 1877, when the excess of ex-
ports over imports of gold coin and bull
lion ranged from $50, asa, 465 down to
1914, l4O, the largest total having been
made in 1864 and the smallest in 1871.
After 1877 the United States began to
assume the position Of a creditor nation
and as a result the whole tide Of metals
changed. In 1878 we had IN excess OF
imports of 4,l25, go, in 1879 81, 037, 1874
and in 1880 S77,ll9 ,39l. Turning from
gold to silver we find that in the period
from 1921 to 1850, with the exception OF
fifteen years, our exports of silver coin
and bullion x eeded our imports, and in
late years quite largely. 1t may be stat
ed that from lS4S to 1880 there was only
a single year when our imports exceeded
our exports. The summing up OF the
movement Of the precious metals from
1921 to 1880 presents an array OF figures
OF startling magnitude. For the period
named the exports of gold aggregated
1859, 9S7, SIS, and the imports $3.50, 1853,
1874, showing a loss to the country Of
1899, 224, 624. For the same time the ex'
ports OF silver reached the enormous to-
tai OF 81 9S, 6lS, $50, and the. imports
1914. 527, 242, showing a loss to the o
try in this metal of S724, 0Sl, 43S. Nc
other country in the world could have
stood such q loss OF precious metals and
prospered as we have prospered. Adding
the excess of exports over imports o.
gold n silver together, we find tina
from 1921 to 1880 the country suffered
total loss Of 81, l23, 30S, O62 of the pre-
cious metals. Pursuing this subject fur
Their, W. find that the exports of golt
and silver combined from 1921 to 1881
aggregated 81, 95S, COG, 49S, and the i'm
ports of gold and silver combined $685.,
300, 436. making the total bullion move
ment of the United States for the sixty
years 81, 1913, 906, 934. These figures may
seem fabulous, but they are nevertheless
correct, and represent the vast resource
OF a country that, so young as ours, wal
compelled to encounter such enormou.
difficulties. The movement of the pre-
cious metals to and from the United
States for the fiscal year ended June 80
1881, and not included in the foregoing
statement was the most favorable in the
history of the Nation, showing an excess
of imports over exports of gold and sill.
yer coin and bullion to the extent OIL
S9l, l6S, $50. This was due directly to
the very large balance of trade in
our favor, and to the increased purchases
of American railway and other securities
by European investors. The indications
all point to a continued balance of trade
in our favor, but probably not on SO ex-
tensive a basis as for the past two fiscal
years.
MINE,