The Oceanic's Cargo (Continued)

The Oceanic's Gold Cargo (Continued)

Yet another proof of the Oceanic's cargo, that she carried approximately $920,000 in bars, can be based upon the French import data and US Bureau of Statistics' data regarding the flag (registration) of the vessels that shipped gold to France in 1909.

Shipping Information  
U. S. Fiscal Year - July 1, 1908 through June 30, 1909  
Source: Journal of Commerce¹

How Transported  
1909 Gold Shipments to France

Analysis

Gold - Our New York gold engagement data was acquired from the US Government's "Statement of United States Gold Coin and Gold Bullion Exported from the Port of New York to Europe During the Fiscal Year Ended . . ." for each fiscal year (July 1st through June 30th) 1904 through 1915. For 1909's Statement, see: http://www.rms-republic.com/images/nyexport.jpg

The US Department of Commerce, Bureau of Statistics, reported that $8,898,500 in gold bars was shipped aboard American flagged vessels to France in fiscal 1909 (July 1, 1908 through June 30, 1909.³). The US reports state that no gold, neither bars nor coin, was exported to France between July 1 and December 31, 1909. After deduction for the gold engagements shipped between July 1 and December 31, 1908, the amount of gold bars reportedly shipped to France aboard American vessels by the Department of Commerce, Bureau of Statistics, during the calendar year 1909 was $4,898,000. The US Department of Commerce kept records for US Government statistical purposes, so commerce aboard American vessels was one item that they tracked.

Like the Americans, France also kept records of gold shipped aboard her own flagged vessels. The French "Tableau Général Du Commerce Et De La Navigation Année..." for 1909 reports that 59 kilograms, only $38,900 of U. S. gold coin arrived into France aboard French flagged vessels during calendar 1909. See: http://www.rms-republic.com/images/tableau.jpg Therefore, the $810,000 in coins reportedly shipped aboard the French registered La Savoie on her May 20, 1909, voyage from New York to Le Havre were apparently shipped aboard some other non-French vessel. See also, One Other 1909 Gold Coin Export to France, at: http://www.rms-republic.com/details_19093.html

The French reported, too, that 5133 kilograms (approximately $3,384,265) in gold bars arrived into France in 1909 from the US, having been shipped aboard French flagged vessels. But, according to the US data, only $2,471,739 in gold bars was shipped to France aboard French flagged vessels. Which report is correct?

If we remember that each country would want accurate statistical data for its own flagged vessels, with the balance going on simply other countries vessels, we can assume that the US export data for cargos carried on American flagged vessels is accurate, and the French import data for cargos carried aboard French flagged vessels is accurate. The balance of shipments exported from New York to France would be carried aboard British and/or German flagged vessels.

Gold Shipped from the US to France, Calendar 1909

The total gold coin shipped from the US to France in calendar 1909, as contained in US export reports, was $3,310,000. The total gold bars, according to US data and including the December 22, 1908 engagement, shipped to France arriving there in calendar 1909 was $11,270,242. France reported the receipt of gold bars imported from the US for calendar 1909 as 18,437 kilograms, or approximately $12,155,795. Again, from our 1904 through 1914 Export & Import study, it was common for France to receive more gold from the US than was reported in the US as exported to France. If we deduct the gold bars France reported as imported from the US for which there is obviously no corresponding US export (See: http://www.rms-republic.com/repub_data04-14.html - 1909 ): France's receipt of $3,297 in February; $11,208 in April; $21,098 in August; $659 in October; and $3,956 in December, 61 kilograms in total or approximately $40,218, we have France reporting $12,115,577 in gold bars received from the US.

After deduction for the gold bars shipped aboard American and French vessels, this leaves the $3,310,000 in coin and up to $3,833,312 in bars shipped to France from the US in calendar 1909, aboard either German and/or English vessels. If we deduct the $699,010 December 22nd engagement that was reportedly shipped aboard the British Cunard Liner Campania, and was also reportedly shipped aboard the British White Star Liner Teutonic (See: http://rms-republic.com/details_1909.html - Dec22), we're left with $3,134,302 in gold bars (as well as the $3,310,000 in gold coin) to be shipped aboard one or more other German and/or British vessels.

If the above May 3 and May 17, 1909 engagements reportedly shipped aboard North German Line's ships are accurate, then $2,181,493 in gold bars was shipped aboard German flagged vessels, leaving $952,809 in gold bars (as well as the $3,310,000 in coin) to be shipped aboard British vessels. But, we have already calculated the gold bar value of the gold shipment aboard Oceanic as $929,864. See: http://rms-republic.com/details_oceanic.html

By using the US and French vessel export and import data for gold shipments aboard their respective flagged vessels, our analysis of the Oceanic's cargo is again confirmed. The Oceanic did not carry any more than $929,864, the twenty barrels of gold bars that she reportedly off-loaded at Cherbourg on January 20, 1909.

We can also eliminate both the American and French Line (and their ships) from consideration as other possible carriers of the US gold coin that was reportedly shipped to France in 1909.

Conclusion - The Oceanic's Cargo

If the January 12^th $3 million American Gold Eagle engagement was not shipped aboard the Oceanic, as we have proved that it was not, it could not have reached Paris before the Russian Loan closed on January 22^nd. The next two ships to France were the old and slow French liner La Bretagne (built 1886, destination Le Havre) and the American liner Philadelphia (built 1888, destination Cherbourg). La Bretagne departed the next day, January 14^th, at 10 a.m., and the Philadelphia departed 10 a.m. January 16^th. Both vessels arrived at their respective French ports on January 23^rd, one day AFTER the Russian loan had closed. Shipment aboard the Oceanic, with her arrival in Cherbourg on the 20^th, would have been tight - a day or two was always required to accept and verify (clear customs, inspection, assaying and weighing, etc.) a gold shipment.⁴ If the Oceanic had carried the gold coin and if she had been delayed only a day or two, the loan itself may have had to have been delayed - an undesirable situation for both the French bankers and the Russian Government. Transfer of title to gold shipments in-transit would have created significant problems in verification.

Simply stated, it would have been - for all parties - easier and more efficient to have Russia accept the gold coin at New York when the loan closed, and cheaper to ship to Russian interests directly from New York than to ship the gold coin to France, and then re-ship to Russia.