Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-07-01
TRADE BALANCE PASSES
BILLION DOLLAR MARK
Commercial Record of United States
for Closing Year Is Greatest
in History.
ANNOUNCED By REDFIELD
Exceeds by Nearly S4OO, ,OOO, 900 Best
Figures Heretofore Made-Move-
nlent of Gold Reversed I'm Over
whelming Ratio.

WASHINGTON. June 3O.-A billion
dollar trade balance. the greatest in
American history. in year. which has
seen commerce depressed by eleven
months of world war. is the CONNER
cial record of the United States. Of
at the Department Of Commerce that
with the closing Of the fiscal year at
midnight. 1t was certain that the bill
lion-dollar mark had been passed.
THE figures for eleven months end
ing May 81" It was announced, show
favorable balance Of s9S3,l17,479. AS
thirteen ports, which ordinarily handle
30 per cent of the country's foreign
trade, show for June an export balance
of approximately s60,000.0O it is now
known that the excess of exports over
imports has at this date exceeded
81, 900. 100000. surprising by nearly
S4o0. 100000 the highest record hereto
fore made"
Figures indicating that the new high
record would be made have been placed
before President Wilson and the Cabi-
net from time TO time by Secretary
Redfeld.
DESPITE PARALYSIS
OF OCEAN SHIPPING
Only to-day's official announcement
was lacking. Generally the showing
was considered all the more gratifying
because 1t was made despite the
paralysis of ocean shipping, and the
staEnation in the cotton market, which
depressed Americas second most val
liable crop.
nrt TINS nnf Of
point out that the immense trade bal
ance Is not due to orders for munl-
tions Of war. In fact. manufactures
generally, other than of foodstuffs.
have been less than in the similar
period before the war.
The normal sales OF manufactures
during peace" said an official state
ment on that point, were greater than
those under existing war conditions.
Because of this fact and the extra
ordinary shrinkage Of exports Of crude
materials. it is found that the net in
crease in our total exports has been
wholly in foodstuns''
The movement of gold between the
United States and the outside world,
which at the beginning of the war was
a subject of great concern. has been
reversed in overwhelming ratio. and
represents payments for American ex-
ports.
The inward flow OF gold" says the
departments announcement, which
became pronounced about the COM
mencement of the current year, con-
tinued in May at an accelerated rate.
imports amounting to S3l.136.311.
against s1,972,4l1 in May, 1914 Gold
exports totaled S1.277,554, compared
i1,
eleven months ending May 81. 1915,
gold imports totaled sll9.227,015, an
increase of s56,505.46S. while gold ex-
ports aggregated s143,4O216o. an in
crease of s79.47o,695 over n like period
a year ago"
NEAREST APPROACH TO
RECORD 'TAS IN zoos
The nearest approach to the billion
dollar record was in 1908, when n fay
orable balance of S666,0O0.000 was
shown for the United States.
In 1913 there was balance of $685.
100000. while in 1914 the balance
dropped to $4,000. 900.
The last time IT showed against the
United States was in 1893.
The billion dollar balance for the
fiscal year is distinct from the billion
dollar net balance which government
officials have predicted would DO
reached by the United States during
the present calendar year. To arrive
at net balance there must be sub
tracted from the gross balance interest
on United States debt held in -Eurol =,
tourists expenses. ocean freights.
money transmitted home by alien resi-
dents and numerous other Items.
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4TH july Low FARES TO BALTIMORE
by water-York River Line. Delightful sail
UP Chesapeake Bay Only 81 round trip