The Birmingham age-herald., 1914-08-28
HOW TITANIC EUROPEAN CON- FLICT CHECKS APPROPRIATION OF AMERICAN PRODUCTS. WILL RESULT IN EQUIPMENT OF MARINE.
Nv HOLLAND

fiscal year. on July 1, there came from Washington the official report which gave in gross the record of our exports and imports for the fiscal year. which ended June 30. Nine months of that fiscal although some sections of it were not put in force until later in the fiscal year. The record was extremely gratifying. It showed that our commerce with the rest of the world was rapidly increasing. The total figures of our international trade brought us very near the record made by Great Britain.
 These statistics revealed that our total commerce with Great Britain and the con tinent of Europe in the past fiscal year was of the money value of s25oo, ooo,o0o It vas an increase of si75.ooo.ooo over the rec ords made in previous fiscal years. An other feature of this report was especial
 y gratifying, for 1t showed that in our commerce with Europe exports greatly exceeded imports. Our commerce with Great Britain alone made 1t possible to establish a satisfactory visible trade balance in our favor. On July 1 there was not the slightest indica ton that we should find our European commerce checked in any way. The probabilities were strong that in the present fiscal year it would be increased relatively by as much as the increase of the fiscal year 1914 over the like period in the year previous. That meant that our com merce would probably be increased by as much as s20o, 600 GOO, in which would be included considerable excess of exports notwithstanding the new tariff law, which certain greatly to increase imports if normal trade conditions should prevail Within a week this expectation was blast ed We cannot tell now what the story of our commerce with the continent of Europe and Great Britain will in the az gregate amount to for the present fiscal year. But inevitably there is to be a great falling off. An embargo has all ready checked our exports to the conti- nent and correspondingly checked our im- ports.
 Value of Exports
 According to the reports received from Washington our exports with the nations now at war were, in the fiscal year just ended, in round numbers of the money the continent of Europe. We sold and alone the money value of our exports was nearly one-half of the gross value of the entire exports of Great Britain and the continent of Europe. We sold and sent to Germany in the 12 months which ended June 30 commodities of the value of sS31 00o,000, and we paid $1ss, ,o00,00O for commodities which we imported from Germany. This trade with Germany was absolutely checked. It is impossible now to predict the date or even the year when our trade with Germany can be re- sumed Whenever it is reopened it will probably for a time fall far short in money value of our trade with Germany in the past fiscal year. The German empire is likely 10 be in such position as will compel very heavy imports, par ticularly of tho kind of commodities which the United States can furnish.
 Our Trade With Austria
 Although our trade with Austria has been gradually growing, partially because Austria has been buying heavily of Amer ican manufactured commodities such as machinery, tools and arsenal equipment, yet the total is not very heavy in com parison with our trade with Great Britain and Germany. The Washington authori- ties report that our trade with Austria in the past fiscal year was of the money value of s23, ,000 900.
 Within the past four or five years we have been rapidly increasing our trade with Russia. The Russians have cen buying heavily of American manufac- tuTed commodities, electric apparatus and machinery, part of which enters into the manufacture of rifles. In the fiscal year just ended, our trade with Russia was of the money value of S25,000000 round num- bers. There were some easons for sur missing a the beginning of the present fiscal year that our exports to Russia would be greatly increased in the l2 months between July l, 1914, and the cor responding date in 1915
 One-Half Is Gone
 Approximately one-half of our trade with Great Britain and the continent of Euroep Is gone not only temporarily but probably for long time. We shall lave no trade with Germany to speak of anG not any with Austria. Furthermore, our exports to Great Britain will probably be emmbareoed for considerable time. Therefore we must contemplate a loss of foreign trade in the present fiscal year of about sl.0O0,0O0,o00 That Is sure to cause some tnl DaTfaSSlng conditions to arise Tn the United states unless this loss can be offset by increased trade with other coun- tries. Our merchants persuaded that we ought to find markets for American commodities in the far east where here tofore Germany and to a great extent Great Britain have commanded the mar ket. How soon Great Britain will be able to resume her export trade is problem. but there seems to be no doubt that many months will pass before Germany of markets which she had secured in the far east
 We shall have no importations in any amount from Germany for long time. The Germans were beginning to capture some portion Of the domestic markets of the United States with their knit goods and some other commodities Represen- tatives of the German houses who came 10 the United States in the spring were convinced that within year Germany would be supplying the United States with much the greater part of certain kinds of knit goods which under :he old tariff law were manufa actured in this country.
 The chances are that trade with Canada. which for the past eight or ten years has been rapidly growing and which is the best customer the United States has had excepting Great Britain. will be increased in the present fiscal year. and this increase will be reflected not only along the eastern boundary be- tween Canada and the United States, but upon our Pacific coast, especially at Seat tie. As soon as peaceful conditions are established In Mexico. we are certain