Arizona republican., 1907-05-23
GOLDEN TIDE
POURING IN
Imports This Year In Ex-
cess of Exports
The Difference is the Great
est Within the Last De-
eade.

| Washington, May 22.-Gold move
ments into the United States in the
fiscal year which ends with next month
| will exceed those of any earlier year
and the excess of imports over exports
of this metal will also probably be
greater than i'm any earlier fiscal or
| calendar year.
The ten months figures of the bu-
| reau of statistics of the department Of
| commerce and labor now available
show gold importations amounting TO
! Sls.616,701 and gold expectations of but
S23.O03.4 400. making the excess of i'm
ports over exports in the ten months
ss6.6l3. 300; while for the twelve months
ending with April the imports of gold
are SIG, $50. SIS. and the exports $31.-
9S1.9iI, making the excess of imports
over exports for that period sl14,91i.-
SOS. The largest importations OF gold
ever occurring in any fiscal year were
sl20. 3sl,614 in 1898 and $780, ,259 in
1881. while in no other fiscal year has
the total of gold imports ever crossed
the 100-million-d dollar line. The ex-
ports of gold. as above indicated. are
for the ten months ending with April
s23. 003. 400. and for the twelve months
ending with April s3l.9s7,9i7, making
the net imports, or excess of imports
over exports, sS6.6l3.300 i'm the ten
months ending with April and s11i,-
gl4.S6S in the twelve months ending
with April.
A comparison of these figures of ex
cess of imports over exports with those
of previous years indicates that unless
marked change shall occur during
the next two months in the general
movements of gold into and out of the
United States. the net imports for the
full fiscal year about TO end will be
larger than ever before. The only fis-
cal year in which the net imports of
gold, or excess of imports over exports.
exceeded 100 millions was 1898. when
the figure of net imports was Sl0i.-
9S5,2S3. The nearest approach to the
100 million-dollar line on any other
pOrtation of gold was $97466.1 27.
This flow of gold toward the United
States in. excess of the outward move
ment has been observable during near
ly the entire fiscal year. the excess OF
imports over exports showing wide
range from month to month. but av-
eraging about IL million per month.
that of April. 1907. being about ga
million dollars. indicating that the in
ward flow is still i'm excess of the out
ward movement. and that the excess
OF imports of gold over exports OF that
metal during the fiscal year about TO
end may probably. barring some sud-
den change in the general movement.
exceed that of any preceding year.
Silver movements into and out of the
country seem likely to show a smaller
excess of exports over imports i'm the
fiscal year about to end than on any
occasion during the past decade.
Movements of silver into and out OF
the United States are in each case
large. the inflow coming chiefly from
Mexico. This large movement of silver
into the United States. already a great
silver-producing country. is due large
~ TO the fact that her facilities for
smelling and refining are more salts
factory than those of her silver-pro-
ducing .neighbor, Mexico. and that
Mexican silver moves to the smelling
and refining establishments Of the
United States, a part of it coming in
lead ore and a part in the form of base
i'm any full fiscal year We're those of
1906. s41. AZ. $40, and those of the pres
ent fiscal year seem likely to BE- about
the same. The largest exports of silver
in any fiscal year occurred also in 1906.
500, S69, O63. while the total for the pres
ent fiscal year seems likely to fall con-
siderably below that of last year. The
excess of exports of silver over imports
of that metal amounted in 1906 TO SOL
426,523, and has been continuously
above the 20 million dollar line (and in
some cases above 30 millons) since
1893. but the present indications are
that the excess of exports over imports
WILL in 1907. be far below that of any
other year in the period just named.
For the ten months ending with April
1907, the excess OF exports of silver
over imports of that metal was Sill
1925. and for the twelve months end
ing with April. s13,0S6.196. against s2l.-
426,523 in the fiscal year 1906.