Deseret evening news. [volume] (Great Salt Lake City [Utah]) 1867-1920, 1907-07-31

Sl35,000,000 This difference ~ undoubt
edly due to Dir. I.inderman's having
included certain ''coiE ITEMS such as
bonds. in his figures for gold in the
treasury.
There being no duty upon gold bull
ion or coin II naturally follows that
customs officials are not as particular
10 verify the accuracy of declarations
as they would otherwise be. If ship
ment of gold bullion or foreign god
coin should be accidentally entered at
custom house as United States CON-
1t would be taken up in the statistics
as an addition to the stock. but the
same shipment would probably so d.
rectly to some Office of the mint serv-
Ice, and. after coinage, be added to ths
stock again, thus effecting a duplica-
ton. Having occasion to suspect that
this had actually occurred. clerks were
set at work to trace the entries at the
New York custom house and compare
them with the entries of foreign coin
and bullion at the United States assay
office in New York City The result
was the discovery of such Implications
to an aggregate of 1923, 404 ,110, and 1t is
thought there is warrant for raising
this by estimate TO s30,00O,000.
CANADIAN FIGURES.
The custom house figures for the
between this country and Canada evil
IDENTIFY do pot tell the whole story. They
show in the period under review bal
ance against this country of S15, ll5,6s9,
while the stock of United States gold
coin in the Dominion treasury and in
the chartered banks increased in the
same period from about S., 900 to
$43,9l4,l54. 1t is safe to estimate the
loss to Canada in excess of the custom
house records at s25,000000. Canada,
it should be understood, during these
years has had no gold coinage of Its
own, and United States gold coin is
legal reserve against its bank noes.
1t has been assumed that coin car
ried out of the country by travellers
was usually brought back in the same
manner, but the probabilities are that
some of II Is melted down abroad and
finally lost to our circulation. Inqui-
ries covering this phase of the subject
have been addressed to all our consular
officials In foreign countries and re-
plies received. The reports indicate
that less coin is carried away in recent
years than formerly but that an al
lowance should be made. These losses
since 1873 are estimated at S2O,000,0O0
A revised estimate of the amount
consumed in industrial consumption,
based upon the more definite informa-
ton obtained in recent years. raises
100000
DEDUCTIONS.
Summing up the deductions Of $780,
600, 900 prior to 1880. s30,00o0OO in GUS
toms entries, s25O0O.0o0 for the Cana
dian movement, $25, 100000 for indus
trial consumption, and S2O.O0o,0po Tor
the unrecorded exports, total OF $685.
100000 is reached This sum taken
from amount In other banks and IN
leave that estimate at $225,79S,3S4.
Bringing the calculation down to June
/. 1907 and making the deductions
gives a total stock of gold coin ana
bullion lin the nIints) Of N.4Si, $3.50
OF which Sl,109, 45S,330 is held by tn,
treasury and national banks.
1t is believed that these are all OF
the deductions that are warranted by
careful review of the facts. In no 9TH
er country of the world can so large
percentage of the estimated stock OF
standard money be definitely located.