The Topeka state journal. [volume] (Topeka, Kansas) 1892-1980, 1912-03-09

amount at 547 million dollars, and these
figures are approximately equal to the
estimate which has been made in this
country.
AS long ago as the midfaII of last
year some of the experts in this city
found themselves in agreement with the
experts of the bureau of statistics at
Washington in estimating that the
commerce of the United States with
other nations in the year 1911 would
create a visible or apparent trade bal
ance of about $50 million dollars. This
sum represents approximately the mon
ey value of our exports of cotton
So it would seem by these statistics
that in spite of complaints of sluggish
trade and most unsatisfactory bust
ness the United States nevertheless
was able to sell $3.50, 100000 worth of
goods to other nations in excess OF
the money value of the goods we
bought from them. That statement IS
spoken of here as one of the most
curious and paradoxical ever made
since the United States began to be
numbered among the larger exporting
commercial nations. With the excep-
ton of Great Britain, no country ex-
ported commodities of a greater money
value than did the Z nlted States In
1911 We passed the billion dollar
mark and were only about 100 hundred
millions less than the money value OF
the exports from Great Britain. We
We're about $50 millions ahead of Ger
many. a nation which has been in
tensely occupied in competitive trade
with the United States
Still Another Point of View.
Another feature contained in these
statistical reports which has caused
some discussion in this city is the fact
that the figures show very rapid gain
by the United States upon Great
Britain with respect to world trade.
The total international trade of Great
Britain in the year 1911 was, in round
five billion dollars, while the
total international trade of the United
States for the same period was three
billions, seven hundred and forty-four
millions.
We have been gaining world trade in
the past five years more rapidly than
Great Britain has done, and if the plans
of some of our great manufacturers are
consummated we are likely to show
even more rapid increase in the year
1912. One estimate has been made in
this city that within five years the
United States will have taken away
from Great Britain its commercial pres
tige as a leader in the trade of the
world
Paintings as an Investment.
1t was announced a day or two ago
that but for the sale of the Yerkes art
collection it would have been impos-
sible to provide the money with which
to secure the hospital foundat ton which
Mr.. Yerkes provided for in his will.
Presumably something like four hun
dred thousand dollars-perhaps a little
more, perhaps a little less-will be
made available for the Yerkes philan-
thrOpy through the sale of his art COL
lection. The incident again serves to
show how good an investment a wise
and expert collection of pictures and
works of art really is. The expert who
reported that Mr.. Morgans
firm received about seventy million dol
lars as its share of the profits in I'M
derWriting the United States Steel cor
poratlon might have added to his report
that this is only about ten millions
more than the estimated value of Mr.
Morgan'S art purchases, all of which will
sooner or later be placed permanently
in the United States for the enjoyment
of the public. And as Mr.. Morgan be-
gan his greater activity in purchasing
works of art only a few years before
the Steel corporation was organized, it
would not be an unfair statement, ac-
cepting the report of the Steel commit
tees expert as correct, that Mr.. Morgan
has given back to the American people
in the form of art what he received a s
the promoter of the United States Steel
corporation. When the late c.. l. Seney.
president of one of the national banks
of this city, found his institution in
embarrassment he turned over his art
to trustees who disposed with
success or enough to meet the obliga-
tons of the institution. Afterward Mr.
Seney began again the collection of
pictures chiefly as an investment a
purpose in which he was successful.
for the collection was sold shortly be-
fore his death for a large amount of
money and at prices which Welded him
handsome profit. HOLLAND.