Evening star., 1932-01-31
GOLD SHIPMENTS
BY JAPAN HEAVY
100000 Sent to U. S.
Since Dec. 13; Large Part
Goes for Cotton.

The Commerce Department yesterday
was informed by Commercial Attache
H. A. Butts at Toxic that gold ship
mentS by Japan to the United States
since December 15 when that country
abandoned the gold standard, have tov
tailed S44, 100000 on the basis of the
normal value Of the yen.
During the SiX-month period from
July to December 1881, inclusive, gold
from Japan has arrived in this coun-
try sggregating $l93, ,OO5, $40, compared
with SAL 1923, 125 in the same period of
1880, according to figures made avail
able at the department.
The extent to which a nation ships
its gold abroad to balance its interna-
tlonal payments is regarded as a barom-
eter of its internal conditions, and
Butts eabled report stated In this con-
nectlon that ''the expense of the Chi
neSe expedition by Japan is exceeding
o1nclal estimates. and this factor may
possibly have an adverse economic in
fluence."
Cotton Purchases Heavy.
A large portion of the gold shipped
here from Japan is believed to have
been in consequence Of heavy purchases
OF American raw cotton, which from
July 10 December, 1881, amounted to
l,O69, 900 bales, compared with 400 900
bales in the corresponding period of
1880. The departments information
yesterday from Toxic was that the sea-
sons takings of American raw cotton
by Japan amounted to $4,000 bales,
with the belief prevailing in trade cir
cleS that additional purchases Of 600, 600
bales are probable"
It was revealed at the department
Friday that Japan had become the
largest cotton buyer in the world. This
statement was backed up yesterday in
cotton brokerage circles in New York.
according to an Associated Press dis
patch from that city,
The dispatch said considerable i'm
portance was attached to this in view
OF the fact that cotton is an important
staple in the manufacture of explosives.
In shipping circles. it was reported
that an increase in the movement of
cotton to the Far East from gulf ports
is indicated in that much of the avail
able cargo space for the Orient Is un-
derStood to have been taken.
Considerable foreign buying came into
the New York Cotton Exchange yester-
day, but brokers felt that IL was largely
from Europe. The demand was easily
supplied, however, and gains were
slight, amounting to only 20 to IS cents
a bale at the close.
More Shipments Unlikely.
The commercial attache explained
that all gold shipments from Japan
since its abandonment of the standard
have been under the auspices of the
government and the anticipation of
Toxic banks is that no more shipments
will be made. Banks were further re-
ported as expecting a lowering of the
rediscount rate by or per cent.
The recent shipments of gold from
Japan to the United States is reflected
in the decline in the stock of gold on
hand in that country, which amounted
10 $265, 100000 on December 13, com
pared with $425,OO0,0OO on June 80.
1881. Between the December date,
which evidenced the standard abandon
ment, and yesterday, Japan's gold stock
dropped 1921 100000.
The shipments of gold from Japan to
the United States in the last six months
of 1880 and 1881 follow: