Aberdeen herald. [volume] (Aberdeen, Chehalis County, W.T.) 1886-1917, 1915-01-01


fast as more than to Offset our for
eign debts. This balance in Novem-
ber was $79,2OO,O0O, in October $751;
100000 and in September $16,900,000,
August having shown balance
against us. Our export balance is
still below the figures for correspond
ing months of 1913, but is decreas-
ing rapidly. In October, it was $751;
100000 under that for October, 1913,
but in November the difference was
only $17,70O,O00 and December may
show an increase. The only infiu-
ence likely to prevent imports and
cause exports of gold is heavy liquid
alton of foreign security holdings.
which is not yet in sight.
The favorable trade balance is be-
ing swollen rapidly month by month
by the resumption of cotton exports
to Europe. Two million bales have
been shipped and this total may be
enlarged before the new year, the
chief difficulty being now to find ships.
Cotton exports in November were less
than half those in November, 1913,
but in the first week of December
they were 80 per cent Of the total
for the same period of last year, and
the second week showed an increase
Of IL per cent. With exports of cot
ton again normal and those of food
stuffs and manufacturers above nor-
NAL, while imports"are far below nor~
NAL, the favorable trade balance may
soon grow to such proportions as to
justify gold imports, even after of
setting considerable unloading Of
American securities by Europe.
Our wheat crop for 1914 is estimat-
ed by the Government to have been
worth sS7S,6SO,OOO on the basis of
December 1 prices, or $202,000,0 900
more than the most valuable previous
crop. The cotton crop was estimat-
ed to be worth $3O6,O00.O0O less th.1
that of 1918, but the others among
the twelve great crops showed such
an increase as to reduce the total
falling off in value compared with
1913 to only $21,O00,000. The Decem-
ber report on winter wheat showed a
condition per cent lower than In
December. 1913, but an increase Of
II 1-8 per cent in acreage, indicat-
ing that the total yield in 1915 will
about equal that Of 1914, though es-
Inmates based on December reports
are unsafe. Reduction of European
production of wheat by the war holds
out prospects of q large decrease In
the worlds total and of consequence
high prices and large foreign demand.
Steel has been recovering from de-
preston, foreign sales having grown
from the low level of August to 4
point beyond the average for the first
six months of 1914. December orders
showed a decided improvement over
November and renew demand for
railroad and building materials has
made manufacturers unwilling to take
orders at present prices except for
delivery.
AS to general business, Boston be-
lieves that for months to come the
volumne will be below normal. but
that the period of disintegration ha&
ended and that of reconstruction be-
gun. In manufactures, Philadelphia
reports that a reassuring turn follow
ed the rate decision though business
continues backward, but that city
looks for large export business.
For the Pacific Coast all these con-
ditions warrant predictions Of q ready
market for foodstuffs, an increased
road construction and more capital
for general development.-Oreg