From Cool Solutions:
Rex, who works on the Trash folder (among other things!). Here’s what he had to say in response to your question: “If Peter has successfully deleted his Trash folder, then we've got a big problem. The Trash folder, unlike the Sent Items folder is a System Folder, which as the name implies, is created by the system, not the user. The program should have never let him delete the Trash folder. I tried to delete my Trash folder and was unsuccessful. Is it possible that Peter accidently dragged the Trash into another folder and that folder is collapsed; thus not showing the Trash? I've done this before.” (Kinda makes you feel better knowing that even developers do stuff like that too, huh?)
Rex continues: “Another unappealing possibility is that the user's database is corrupted. We will need more information to determine the cause of the problem. If there truly is a way for the user to delete his Trash, there will need to be a code patch to fix it.”
Well, the key here, Peter, is that if you really did manage to delete your Trash, and it’s not just hiding somewhere, like in the documents folder.