New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1913-08-18
REVIEW AND DIGEST
Improvement in Foreign Situa-
ton Helpful to This Market.
BALKAN TRADE OUTLOOK
Prospects of Business in United
States Based on Export Fig
ures-Events of Week.

ures-Events of Week.
Foreign affairs held a conspicuous
| place in the record of the weeks doings
! intimately associated with the internal
/ tional money and investment situation.
! The final signatures of the Balkan
allies concluding a peace agreement,
which at present apparently is destined
TO preserve friendly relations among
the minor powers. has ended what has
| been a most costly war and has
brought to all Europe feeling of re-
lief and cheerfulness. notable in effect
on international investment markets.
Sir Edward Grey's remarks during the
week regarding assured peace among
the powers of Europe allayed some
lurking suspicion in the minds of the
masses regarding the attitude Of lead
ing European countries toward each
other, and the outlook now is for a
return to trade and industrial interests
throughout Continental Europe, so on
the surface at least harmonious CO.
ing lost fortunes.
1t cannot be denied that underneath
the surface Germany is in state
Of semi-fomentation. which will re-
ouire time and the adjustment of some
international matters before real
entente cordale will be established and
broad revival of business will be
realized. The gradual restoration Of
c, fidence among the Continental peo-
pie will call out gold hoardings for in
vestment. and with this in prospect the
/ financial situation abroad becomes at
once very much improved, and in turn
( the United States shares in the i'm
provement. The effect Of the Balkan
war cannot be fully appreciated With
| out a careful study of the individual
I countries. Greece. for instance, is one
/ of the important allies which suffered
seriously. as following the order for the
mobilization Of troops issued on Sep
TENDER 50, 1912, all the able-oodied
men up to forty years old were called
| into service. which withdrew more than
/ 200. 900 of the active men of the coun-
/ trv from their customary pursuits, re-
smiling in both trade and industry
| being paralyzed. Fortunately Tor
| Greece. the mobilization of troops came
after most of the crops had been har-
vested and at a period when men and
animals could be most easily spared.
! A suspension Of work in various gov
| eminent departments followed and no
/ official statistics of the export and
| import trade during the last half OF
/ 1912 were made up When the war
began Greece was in a most healthy
| condition. as for several years prior
/ TO 1912 the country had been making
! economic progress, showing an increase
! in railway receipts and revel ne from
taxation, a remarkable growth Of mer-
camille marine, splendid gains in bank
deposits and continued amortization OF
foreign loans. The return TO peaceful
pursuits will open up in all the Near
East great opportunities in trade and
| industrial branches, which Will be far
reaching I'm the distribution of bene-
I fetal results.
In the United States the industrial
situation is beginning TO recover from
a depression experienced for some time
past, and the improvement which may
be expected TO follow the betterment
abroad should have stimulating eff
feet on this country's manufactures.
The growth in exports Of manufactures
during the period from 1903 to 1910
according to figures compiled by the
DEPARTMENT of Commerce, proves con-
! clusively that manufactures now con-
stjtute the chief part of the export
trade of this country.
, During the past decade exports OF
manufactured goods have increased
1913 per cent, exclusive of foodstuffs.
This increase, reduced TO its value In
money. shows S719,O00OOO in manu-
features and $317,OO0OO0 in all other
articles. The total value of manufact-
ures exported for the fiscal year 1913
is S77SOOO,OOO. as against $672,OOO,OOo
in 1872, S499,OO0OO0 in 1910 and
S312 100000 in 1900 Such an outlet
for home production at period when
disturbances in other countries appear
to be passing, gives promise OF a devel-
opment Of increasing markets for
American industries. Canada is the
largest customer Of this country's prod
ucts except the United Kingdom. For
the fiscal year ended June 80, 1913. the
total value Of exports from the United
States 10 Canada was $4lj,O00OOO. a
gain of SS6, 900, 900 over the fiscal year
of 1912 and Of $2160O0,000 over 1910.
This country's gain in exports was
So. 100000 to the United Kingdom,
$50, 100000 TO Germany, SD 100000
TO the Netherlands. Sl5,OO0,0OO to
Belgium, S11.000,0OO TO Italy and
S13S. 100000 to all of Europe. Our
export trade TO South America in
creased S14.OOO,OO0 and to all of North
America except Canada, $l5,OOO,VO,
while to other countries, including
Oceania and Africa, there was gain
of few millions of dollars.
In New England. where the effect Of
prospective tariff changes has been
largely in evidence, an improvement is
reported for the last week. and in GER