The Richmond Virginian. (Richmond, Va.) 1910-1920, 1915-03-21
TOBACCO WAS HIT BY
REAL PANIC IN 1914
Some Industries Blame Depression On
Tariff Bill and Others On
European War.
INCREASE NOT BIG ENOUGH
Tobacco Men Not Satisfied AT Show
Ing Made In Figures Detailing Out
nut For Last Year-Dcpression Was
Actual Tobacco Men Say.

The first and exclusive publication
of the figures OF the output OF our
tobacco industries during the calendar
year 1914. In last weeks issue of the
United States Tobacco Journal. could
hardly have proven very pleasant
reading TO the trade. True enough,
We were all aware MAT the tobacco
industries. IN concert with nearly
every other industry. were passing
through severe business depression.
But while other industries claim the
crazy~quilt reduction In the Under
wood tariff as the cause Of such de-
preston and others hold the depres-
sion due 10 the gigantic European
war. the tobacco interests were not
disturbed by any changes in the tariff.
nor was the consum ption OF their pro-
ducts curtailed In any shape or man
ner by the effects of the war as tho
exports Of our tobacco products. even
in normal times. are almost neglfgi-
, bic quantity.
when we therefore scan the outp put
figures. as published. we cannot but
realize that our tobacco interests were
struck last year by a real panic. even
though the word panic was carefully
avoided in all public discussions Of
the hard times. For even our magni-
ftcientiy expanding cigarette industry
did not altogether escape the depres-
sion OF normal business increase.
True. it's output last year increased
by nearly seven hundred millions
reaching the top figure OF 1900
100000. but Il was drop in the in
crease as compared with its phs-
nomenal yearly advance In the past
ten years, In 1908 its output was only
assoc. 90. 900 and in the ten succeeding
years II jumped SO phenomenally that
its increases reached $4,000. 600, 600
last year ov~r the output OF 1905.
Its greatest increases It recorded in
the three years from 1s11-ls13. The
increase In 1912 over 1911 was over
1000. 600. 900 and in 1919 over 1919
over 100000. 600. Consequently, tina
increase OF over 700 ,ooe.o 600 last year
would denote rather a retregression.
But hit far worse was the output
az large cigars. A violent decrease In
the consumption Of large cigars may
always be taken as a sure sign of a
severe crisis In the economic condi-
ton OF the country 1t was so In the
panic period OF ise7-i9oS and the
cigar industry's experience of that
period was repeated last year. For
the loss which our cigar industry
records in its output last year amou nts
to the tremendous figure OF over 800
100000 A loss which completely
wiped out the gain made by 1t during
the year 1919 Some optimistic people
are very handy with the explanation
that fs,e loss Of the cigar industry i'm
hard times IL being made up by an In
creased consumption OF the products
by the other branches of the tobacco
industries But surely the increase
In the consumption of cigarettes In
1914 cannot account for the frfghtful
loss I'm the output of large cigars. In
asmuch as the cigarette industry IL
self fell short between two and three
billions of it's increase In the two pre-
| ceding years. Nor does II seem that
| the smokers have taken to the pipe
as a substitute for the missing COM
| fort OF nickel cigar. For the manu-
| featured tobacco production suffered
also a loss OF 100000 pounds. Only
| in the use of the little cigar Ia there
| recorded an increase OF about ten per
cent. And THE increase may account
| for q change in the economic condi-
| ton OF q certain class Of smokers who
| would not entirely forego their ac-
customed comfort OF q smoke.
Nothing can prove more conclusive
| ly the actual depression that the
county passed through last year than
| the Official figures of the output OF
our tobacco industries. In the face
OF these figures, could President VIII
| son still hold to his view that the
depression so bitterly complained OF
Ia az vaar uyo "rerelv pxyCh nj n ufen ~ ?