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. C 0 N F I DE N T I AL Not for publication. l • St. 843 GOLD AlTD SILVER H1PORTS Al~D EXPORTS IN 1919. The Feder'-l.l Resu:;.·ve Board hu.s just co<n:pleted. its compilation of _;ol.:i ani silve;;r imports in to ani exports frow the Uni t.:d States for the calen.:iar year 1919. Goll imports for the year just ende.:i totaled 76.5 millions, compared with 62.0 r:,illions for the cale:1dar year 1918, while coli exports totaled 368.1 r.ilillions, con~ared with 40.8 millions exported in 1918. Net ~old exports for 1919 amount to 291.6 rr1illions, as a..::.a.LJ.st 21.1 millions the year before. The 1919 fi'""'ur"'s are, however, exclusive of 173.4 millions of ""old received from til.:; Reichsbank for foodstuffs sold to the Geri!l&l 0 0Vern.ment. This e;old. is held. at present in London with the exception of about 42 millions which were subseq_uently sold by the Federal Reserve banks and released to forei~~ interests. Countin; the 131.3 millions held on December 31 by the Ilank of Ene:,land for the Federal Reserve banks as an offset a;ainst the net exports above shovv.~, the net loss of ~old. throubh tra~s fer abroad is reduced to 160.3 millions. Of the gold imports over three-fourths is credited to Canaia, Honbkong, the United Kingdom <llld Mexico, while of the gold exports 94.1 millions were consi;ned to Japan, and over 125 millions to the other Far Eastern countries; i.e., China, Hongkong, British India, Straits Settlements a;.1d Dutch East Indies; 56.6 millions to Arc:;entina, 33 millions to other South American countries, 29.8 millions to Spain and 10.4 millions to Mexico. S-ilver imports durinf6 1919 totaled 89;4 millions, compared with 71.4 "r<illions in 1918, while silver e.x.por ts durinG 1919 wert: about 239 millions com-pared with 252.8 millions the year before. By far the ldl"e:,er portio;.. of th0 silver export<>d in 1919 was consigned to tl1e Far East, :3ri tis:h India being credited with 109.2 millions, China with 77.6 millions and Honc)con.; ;vi th 10. 2 millions. The three countries named account: for over SO per cent of the total value of silver shipped to foreie;n dastinations durint; the. past calendar year. It is worth notin.; that silver exports to India, which constituted by far the laroer portion of the total foreit:)"l. silver shipme11ts durine;, 1918 and 1919 to SepteillOer 10, ha.ve prJctically ceased since a.nd bee . . l SUJ?"'rsedea. oy larbe 0 0ld. shiprn~n ts to tnat country durinG the latter part of che year. FEDERAL RES~VE EOARD DIVISION OF IiEPORTS AND STATISTICS JANUATIY 12, 1920. i ! L ~ --
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