The Detroit times., 1916-02-02
Conditions Continue
Easy, Regardless of
Expansion
BUYING POWER
NEVER GREATER
Labor Shortage Is the
One Disturbing
Prospect

7
expansion of business In this coun-
try. money and credit conditions
continue easy, says the February
trade letter OF the National Bank OF
Commerce. OF Detroit Undoubtedly
the United States is approaching a
imaximum of prosperity. A year ago
this country was heavily in debt to
Europe. while today the conditions
are exactly the reverse and promise
TO continue SO for an indefinite
period-pvobaUly as long as the
European conflict continues.
A labor shortage Is predicted with
in the next few months, IL industrial
activity continues at the present
pace. according to the monthly let
ter OF the Dime Savings bank.
Both letters emphasize the import
ant position the United States now
occupies as a result OF the war.
leading in production in all lines.
Exports from the thirteen prin-
cipaI customs districts for the four
weeks ending Jan. / were 100000,
coo, and imports were $4,000. 900.
leaving an export balance for the IL
ports of si62,000. .0oO." says the Ma
| I onal Bank OF Commerce letter.
This compares with exports for the
.ntire country IN December, 1914. Of
s246, ,00o 200. imports OF STA
! 900 00e and a favorable trade bal
ance of sl32,o00.000. TIE l3 dis
tricts handle something over 80 per
cent of our foreign trade so that
their business is good index OF
xhat our total exports and imports
/ were in December. IL is we'll at this
time 20 again remind ourselves that
speedy and effective measures must
b. taken toward the establishment
Of permanent business with the neu-
ltral nations. II our foreign trade is
Ito remain large and profitable after
the close Of the war. IL would seem
/ that the longer the war lasts. the
less able the great powers of Eu-
rope will be to make strong re-
entry into the commercial world !;
but the only safe course for the
United States is TO be prepared 10
meet keen and strenuous competi-
ton al the end Of the war So far
we have made little more than a
beginning.
The customs revenues for the
/ United States fell from S2s4. 900, 900
In 1914 to s206,00e ,00G In 1915. a
drop OF more han 81 per cent. We
note that this decrease, like all
other unpleasant things. has been al
ltributed To the war That the war
had very little TO do with 1t is evi.
Genced from the fact that our i'm
ports IN 1915 were only s33 5000.
00O less than In 1914 and, taking
the average revenues collected on
all imports, the import duty on this
difference would have been less than
$4,000. 900. which does not
account for the s7s,000,0 decline
| in duties collected. The average
duty collected on all imports in 1915
was Ills per cent, while in 1914 II
was 1856 per cent The notable fact
that our imports in 1915 were 81.
1855 900. 900 in spite OF the war com
pared with s1,7ss.o00. 900 In 1914 and
s1,,93. .000. 900 in 1919 should not be
lightly passed ever
Bank ciearings for December in
the United States again showed
ilgrge gains, aggregating over $50.
000, ,0oc 200 compared with nearly
s1s 900. 900 900 In December. 1914, a
gain OF 81 per cent New York city
alone reported an increase in clear,
ings OF 40 per cent, and for the
country outside OF New York the
gain was 80 per cent.
"The Detroit clearing house re
ports clearings for December, 1915
OF fi5t.012,si3 compared with S97.
gs2. 2.s39 for the same month OF 1914
The total clear:ngs for tho year 1911.
were s3.53f .3e0, 900 con pared With
total clearings for the year 1914 or
5000 .b7l 900.
The figures as given above rep
Iesenting the clearings for Deoem
her. 1914 and 1918. are the totals o
the transactions which were cleare,
through the Detroit Clearing Hous,
association proper. The total cloar
,nss for tho year represent the az
gregste of tho debit items OF tn
several Detroit banks IN the clear
Ing house association and inoiud
the Annual total of actual clearing
plus the additional debit items OF IN
respective banks.
business failures during Deocu
b.r numbered i.s4s compared wit
2,o2S IN December. 1914, and iiabi
tiles totaicd only q little more tina
K t23 100000 against nearly fs5,o 900
d 900 the previous year. Howeve
the assets Of the concerns falling
v December were less than 81
100000. compared With sls ZOO, ,Ot