The Oklahoma City times. [volume] (Oklahoma City, Okla.) 1908-1984, 1915-04-17
TRADE BALANCE
IS NOW UNEVEN
Exports Since First OF The Year
Far Greater Than The
COuntry'S Import.
PROSPECTS GROWING BETTER

Trade continues to grow better, nc
cording 10 the figures produced by the
financtcrs Of the country This is Is
pcclnlly true Of the foreign trade bul
anCc, which has run over the esti
mate and reached the astounding TO.
tai Of Sli3.UO4 ,3BG Exports we're
N2i,SOLGl2 above aud imports SIS
02l ,3A5 below the figures for the cor
responding month last year
II Is admitted by many bankers that
they dc not understand the one sided
character " the export trade. Gold
has been coming In Ht what In other
times would be- called n notable move
mcut, Imports from all sources amouu,.
lng 10 more than $lI,OOOOOO since
January / " this year. Even this,
together with the American securities
returned the American Indebtedness
lipudUted. Interest and dividend pay
mcntS aud all the incidental and un
scru charges aud rrmlttunCcs that aro
constantly accrulng against the
United States has not been sufficient
to hold the foreign exchange up To
normal figures.
English financial writer's aud GOV
rrumrut officials all declare that the
Bank of England * doing business as
usual on free gold basis aud that
mo- objections ARE hrIug made to pay.
ment " the metal while II IL n fnrr
that II Is lmpructlcuhlp tu ship gold
overseas, the payments that ARE being
made In the metal ARE considerable.
To Finance South America.
The suggestion has been made that
the United States should acquire as
much gold as possible under the cir
cumstancrs that now exist. for the
purpose N financing South America
mud other new regions where such up
portunitIrs exist The argument Is
made that II is desirable to do tins
financing hut the warning Is sound
ed that n such financing Is done the
people ~ the United States must sub
scribe for the securities The Amrrl
can people have not yet become ac
rustOmcd tu Investing In securities I'm
foreign countries Bankers may buy
them, but they cannot be expected 10
load themselves up with securities for
which there is no market.
American securities sold In Europe
would relieve the situation 10 nor
NAL times but NJ present they do not
sell fast enough and they do not sell
freely The people " Europe have
taken the war loans freely and at
rates that ARE surprisingly low.
Writers IN America on financial
subjects are discussing the question OF
what the WObable effect ON the trade
balance win be- They nre divided on
whether It will mean prosperity or
otherwise There have been instances
~ prosperity following big crop and
heavy exports, and this IL generally
expected, hut trade balances do not
, always have the same Significance.
II II conceded that we must buy ms
well rs sell. or otherwise there will be-
a falling OF. II may be different now.
for upon the occasions mentioned all
the conditions throughout the world
. were practically normal. whereas now
they ARE disturbed boy the great war
New Period Of Expansion.
There are other conditions 10 be-
taken into consideration I'm other
years the prosperity " the farmers
gave the initial impetus to new
period " expansion Al thi~ time the
grain farmers are prosperous, but the
cotton farmers have not had an ay
rrngc return
There ARE many encouraging ndira
tluns, however The present trad,
balance has relieved this country FROM
the further demand for gold. which
was regarded aS menace Such u
demand might have taken the fOundu
tlon from under the domestic credit
d situation, but assurance Is given
against u repetition " the conditions
that prevailed last August aud this
enables the business NJ the country Ia
g, go ON with sense ~ security II /,
agreed that the Inauguration " the
3. federal reserve system Is another fac
tor for safety
T When II Is understood that there is
Y no danger NJ a breakdown In the cred
- It organization confidence In the nut
urc NJ business will be very much
strengthened The country Is not yet
fully recovered from the shock II felt
In August II is recovering from the
D.. depression hut the recovery il slow
$ on account N the greatness " the
D. shock
&. Generally speaking there II great
4 amount " new capital available for
investment every year. aud II should
be remembered that this country I,
more nearly independent economically
. than any other un earth
ROYS, Read the offer made h,
The Times 10 give YOU a Ball bat ol
: Rife.
~NUU r~rUONTn