Daily Arizona silver belt., 1907-08-01
tain "coin items,' such as bonds, il his figures for gold in the treasury.
 Errors in Imports and Exports

There being no duty on gold bullion or coin, it naturally follows that GUS toms officials are not as particular to verify tho accuracy fo declarations as they would otherwise be. If a shipment of gold bullion or foreign gold coin should be accidentally entered at a custom house as United States coin, it would be taken up in the statistics as an addition to the stock, but the same shipment would probably go directly to some office of the mint service, and, after coinage, be added to the stock again, thus etrecting duplication. 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 of fee in New York city. The result was the discovery of such Implications to an aggregate of $23, 3,404,710, and it is thought there is warrant for raising this by estimate to $30,000,000.
 The Canadian Figures
 The custom house figures for the movement of United States gold coin between this country and Canada evi- dently do not tell the whole story. They show in the period under review bal ance against this country of $15,l15,- 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 $5,000,000 to $43,9l4,l54. It is safe to estimate the loss to Canada in excess of the custom house at $25 5,000,000. Canada, it should be understood, during these years has had no gold coinage of its own, and United States gold coin is legal re- serve against its bank notes.
 Coin Carried by Travellers
 It has been assumed that coin carried out of the country by travellers was usu- ally brought back in the same manner, but the probabilities are that some of it is melted down abroad and finally lost to our circulation. Inquiries covering this phase of the subject have been ad- dressed to all our consular officials in foreign countries and replies received The reports indicate that less coin is carried away in recent years than for merly, but that an allowance should be made. The losses since 1871 are esti- mated at $2O,000,000.
 Industrial Use
 A revised estimate of the amount con- sumed in industrial consumption, based upon the more definite information ob- tained in recent years, raises previous estimates by the sum of $25,OO0,000.
 Total Deductions
 Summing up the deductions of $35,. 000,000 prior to 1880, $30,000,000 in customs entries, $25, ,00O,00O for the Ca. nadian movement, $25,O00,O00 for in. dustrial consumption, and $20,000,00O for the unrecorded exports, total of s135 100000 is reached. This sum taken from amount in other banks and in cir culation on June 30, 1906, would leave that estimate at s225, ,793,3s4. Bring ing the calculation down to June | 1907, and making the deductions, gives total stock of gold coin and bullion Gin the mints) of $1,4s4, ,s45,2s0, of which $l,109, ,45s,330 is held by the treasury and national banks.
 It is believed that these are all of the deductions that are warranted by a careful review of the facts. In no other country of the world can so large a percentage of the estimated stock of standard money be definitely located.