The Washington herald., 1922-06-30
-. RESPONSIBLE
FOR S,7H,470,23l
OF WORLDS GOLD
Worlds Supply Varies
Between $S,5OO,OO0,O
To S9,OOO,OOO, 700.

Despite the fact that monthly
gains have been slowing up. the
United States still holds a more
dominating hold over the worlds
gold than ever before. On June 1,
gold stock Of the United States.
coin and bullion, comprised over 40
per cent of the worlds stock of
gold used as money. The holdings
of the United States on that date
totaled S3.774,470,231. Estimates OF
the worlds gold vary between S.
500. 900. 600 to $1,000. .oO0, 900. On the
former basis. the United States held
4s.4 per cent of the worlds total.
and on the latter figure it's hold
.ings constituted 41.9 per cent of the
world supply.
Shipments into the United States
have shown a dwindling tendency
since last August. when the month
ly gain was Ss.s09.572. In the tirst
five months of last year the stock
~ creased by S3S0. .2O2.7T1. In the
Il * ive months of this years the
gain has been but S1l7.4St6SO.
Part of the falling off in imports
this year has been due to the Rand
strike with the consequent cessa-
tion of shipments from Great Brit
ain. Whereas the gold stock showed
"a gain of Ss5.357,416 in May, 1921.
the gain in May OF this year was
only s7.7O4,647.
Per Capita Holdings Gain.
of the Commercial National Bann.
per capita, on June I was s34.43
Per capita gold holding of the
world. estimating population at L.
10000. 900. is IS to $3.50, according
to the estimate of stock used. Per
capita gold holdings have increased
$500 in the last. twelve months,
whereas in the year 1879. when the
government resumed specie pay
ments. the entire gold holdings Of
the nation averaged $500 per head.
The $1,000, 100000 mark was fist
crossed in 1900. and with the war
the stock mounted rapidly. passing
= the $4,000, 600. 900 mark for the first
time in the history of the nation.
. with the entrance of the United
into the war and extension
cA~oans To the allies shipments Of
Fold for materials ceased. and
when the embargo on gold exports
vas lifted, by this country the first
reaction was an outflow when
cropped II substantially below the
S}.OSO, GOO. 900 mark. The tide again
turned, however. and new records
were made each month which are
continuing.
Reserve banks Hold Most.
Most of the gold of the nation is
concentrated in the vaults of the
'ederal Reserve system. On June
81. 1922. gold reserves of the Re-
@erve system were s3.OI9.96O. 900 +
being approximately so per cent Of
t'e gold stock. Tremendous in
'-ease in gold has not resulted in
any new imitation. as predicted. but.
~ the contrary. there has been
steady and continued defation ac-
CTr9in= to the reports of the COM
red Federal Reserve banks. In
tTe twelve months period from
me %, 1921, to June 81. 1922. gold
.'rFves increased from s2.45ntSS-
r'1 10 S%-nl9 9G0.1OO. or by $3.50
na0. while total bills on hanf
& creased from SI.793.451. 900 To
E'iS.oS5.ooO. or by S1.25O.4I6.OOO.
Local Securities.
7shinCtOn securities completely
" .!;erated its weeks good record
terday when but two transac-
ms were made on the local board.
."-. ~ shares Of Lanston Mono'ype
.r' r~ at -. and fifteen shares o.
'i;1' Traction changing hands at
- The latter has been selling
. par.
Personal.
,. 'c~SalI Cain. assistant cashier
t1C IomemrC.al National Eank.
returned TO his desk after
f'us Illness of several months.
'rTarIon.