Evening star. [volume] (Washington, D.C.) 1854-1972, 1901-04-20
THE INFLOW AND OUTFLOW
MONEY EXCHANGE BETWEEN THIS
AND OTHER COUNTRIES.
Large Amounts Which Are Distribute
ed Among Forty Different
NatiOnalities.

Nationalities.
various estimates have been made from
time to time as to the amount of money
Americans leave abroad in their foreign
pilgrimages, but at best these results are
matters Of conjecture" said a postal Of
fetal to Star reporter this morning.
I'VE may arrive at the number of peo-
pie who leave our shores from the records
Of the steamship companies, but the amount
Of money they spend abroad individually
and collectively is not a matter Of record.
and must be guessed at with characteristic
American extravaganza a basis
I'm the windows Of banks in the various
large cities may be observed small signs
bearing these words:
"'Drafts on Europe for FL and upward.
eff it were possible to ascertain the
amounts of the thousands Of the
drafts which carry our money to
interesting addition to the subject. as they
aggregate millions. There Is one source,
however, from which we may derive accu-
rate knowledge and figures as to the
amount of money we send abroad and the
amount we receive back in the see-saw
process of exchange, and that is the inter-
national money order system An analysis
of the inflow and outflow of this tide of
instructive study when put in comprehen-
sive form, as the distribution and amounts
are not generally known outside of official
circles.
Where Our Money Goes.
cit is understood, Of course, that while
we export goods to the value of hundreds
of millions annually, their value In cash
comes back to us. When we export cash.
however, 1t is another matter We get
some of it back. but this is a money
producing country to foreign residents who
send a part or all of their surplus earnings
to their native lands the balance sheet will
always be heavily against us.
Incidentally, 1t will be Of interest to
know the amount of business the Wash
ington post office does in year, as a fair
proportion of the total goes abroad.
Last year the Washington office issued
26,37S money orders. to the amount Of
S343.OOO In New York the figures are
issued 654,0O orders, to the amount Of
$500, 600. The amounts fuctuate with
the times, but each year shows a heavy
increase.
dunn of exchange, In domestic business the
money goes from one inland point to an
other. While Washington sends out near
ly half a million Of dollars a year. much
of 1t comes back in orders cashed here.
The money went out Of the country last
year in international orders among forty
different countries to the amount Of 49,
100000. as against $13,7OOOOO the year pre-
vious. The good times accounts largely
for the increase of over $3,OOO,OOO, or %
per cent. The distribution of this money
and the increase in a single year shows
what nationality of our alien population
friends or relatives, For the sake of IL
lustration we will take but ten of the prin
cipal countries, as follows:
Countries Getting the Lions Share.
Great Britain, So, 166, 200; Increase, $780,
900. Germany. $2.5GO0OO; increase, $780,,
900. Canada. 81, 500. 600: increase. $2GO.OOO.
Sweden 81 900, 600; increase. 1924 600. Aus
tria, 1898. 900; increase, 1922. 900. Hungary.
$556, 600; increase, S274 900 Japan. $685. 900;
increase, $3.50, 600
TO Norway We sent $685.. 600; France,
$3.50 900 and to Switzerland, $3OS. 600.
ITO Italy We sent an increase of $3.50, 600
over the previous year. which would APP
pear to indicate that the fruit business and
organ industry are looking up.
1T Is worthy of special note that little
Japan ranks eighth in the list of total
amounts sent out. and the fourth in the list
of increase. A jump of $3.50, 900 in one year
to the empire Of the mkado indicates the
presence of many thrifty Japanese here.
Most of them reside on the Pacific coast.
A large proportion of the amount sent to
Great Britain goes to Ireland.
The Inflow.
so much for the money that goes out.
Now for what comes in. We will take but
six countries showing the largest amounts,
follows:
Cuba, 100000; Porto Rico, s1,9lo, 900;
Canada. 81 $4,000; Germany, $1,475,0O0;
Great Britain, 81 100000, and Austria, $780,
900.
"The fact that 5000, 600 came into this
country from the two small islands of
Cuba and Porto Rico in a single year is
worthy of more than passing comment, es-
pecially since we sent only $4,000 into
Cuba by means of money orders during the
same period. In fact. we received from
Cuba nearly as much as from Great Brit
ain. Canada, Germany and Austria COM
bined.
THE large amount credited Cuba and
Porto Rico came from money sent home by
soldiers and other Americans on the is
lands, and money sent by banks and firms
by way of money orders instead of by
drafts Of exchange. In fact, the increase
for the past year was quite remarkable
Cuba showing 81, 565. O6O; Porto Rico, 81 ,84O,-
600, and Mexico $64, 600. The amounts sent
u3 from Great Britain fell off $50 600, and
about the same sum.
We Transmit Largely in Excess.
These figures show that large amount
of money leaves this country every year
for distribution abroad very heavily in ex-
cess of the amounts we receive For In
stance, we sent to Great Britain s. $50 COO
to Germany 100000 and to Austria $780,
600 in excess Of the amounts they sent us.
with Canada there was only little
over 100000 difference in money order ex-
change between the two countries, and it
was against the United States. Much of
the money that goes into the dominion
from this country comes from New Eng
land, where thousands of Canadians are
employed in the mills.
while the volume of exports is very
heavily in our favor. the balance of the
foreign exchange account Of cash as rep
resented by the only means of which we
have an exact and accurate record is
against us. These comparatively large to-
tails are made up of thousands Of small
amounts, ranging from under 81 to $50 to
some countries and 800 to others. de-
pending upon the maximum amount which
may be sent to the respective countries
To Great Britain it is $50 in one remittance,
as an example. Most Of the remittances
are under $25, and thousands are for $4.S7,
or fl. The money. mainly coming from the
wage-earning class. finds it's way abroad
into tens of thousands OF homes of the
same class of people. and it Is distributed
n the Qlnho he