Bisbee daily review., 1921-07-10

Gold imports into the United States
in the fiscal year just ended aggre-
gate in round terms $3.50, 100000 or
more than in any year except 1917,
when they aggregated $977,OOO,OOO.
The beginning of the war period,
says a statement by the National City
Bank of New York, saw a flood of
gold pouring into the United States
from Europe which found her stores
of the yellow metal the quickest
means of paying for the supplies
which she must have from us, and
the quantity of gold entering the
United States in the fiscal year 1915,
the first full year of war, was $172,-
100000 or more than in any earlier
year in the history of the country.
But that was only the beginning of
the gold flood, for in 1916 the total of
gold imports was $494,000,000. and
that of 1917 S977,00O,OOO. Then we
began to loan the Allies the funds
from which to make their purchases
in the United States and in 1918 the
gold imports fell to $125, 900 900, and
those of 1919 to $4,000, 900. But with
the cessation of our loans to Europe,
gold began to come again and was
100000 in the fiscal year 1920
and $3.50, 100000 in the fiscal year
1921, just named
In fact, the quantity of gold i'm
ported into the United States since
the beginning of the war is more than
half that imported during the entire
century since the record of gold i'm
1srNef
official record of gold imports began
in 1921, and we have thus at the end
of the fiscal year 1921 a record of
the full century's imports of the yell
low metal; the amount imported from
1921 to the end of the fiscal year 1914
having been S2,3S6, 100000, and from
1914 to the end of the fiscal year 1921
$3.50 100000, making the grand total
imported during the century $5,016,-
000, 900, of which 50 per cent entered
since the beginning of the war.
OF course, adds the banks state
ment, not all of the S2,630,000, 900 of
gold imported since the beginning of
the war has remained with us, for the
gold exports in the same preiod Q914-
1921 aggregated SLABS, 100000, leav-
ing the net imports Tin excess of ex-
ports) for the entire period 1914-1921
81 100, 100000, while the $3.50, 100000
turned out by our own mines during
that period brings the total additions
to our gold stock since 1914, by i'm
portation and domestic production, up
to slice, 100000. of which, however,
nearly $300,000,0 900 has been used for
industrial and scientific purposes,
leaving the net additions, since 1914,
to our gold available for currency
purposes about 100000. 1t is
not surprising then that the Circula-
ton Statement of the Treasury De-
partment shows the total stock of
gold in the United States on June l.,
1921, S3,175, 100000 against 1882, 000,-
600 at the beginning of the war.
What has the remainder of the
world done about gold for monetary
purposes meantime? The reports of
the Director of the Mint showing the
approximate stock of money in the
principal countries of the world" put
the total of gold for all countries for
which statistics were available at
SS,240,000.000 at the beginning of 1914
and SS,340, 900, 600 at the beginning of
1919, though the 1919 tabulation fails
to include figures for certain coun-
tries which are known to have been
at that time about 100000, 600, sug-
costing that the total of the worlds
gold stock at the present time is near
ly S9,000,000,00O, though only a small