New Britain herald., 1916-04-08
DUR FOREIGN TRADE
 AMAZES FINANCIERS
Imports and Exports in February SurpaSS All Expectations
Especial to the Herald. )

point that way. Tine GaIly tragedy in Europe continues with undiminished intensity, yet in spite of the German drive against Verdun no important gain has apparently been made on elther side tor many weeks. Great Britain's government budget for the coming year shows both determina- ton and resources, while the German Chancellor in addressing the Reich stag has also made statements that encourage his people and discourage any hope of immediate peace; and this in spite Of the terms he sug gested on which Germany would con- slider peace proposals.
 Our individual interest in the war is multiplied many times over by the submarine problem, which though |, quiescent during the last fed days may break out again at any tune with renewed excitement. Germany is evidently determined not to surrender the most important weapon with which she can lnnIct injury upon Great Britain; so what the outcome will DC only tune can determine. Inc crisis between Germany and the United States is still unsoIved and may break out with fresh intensity at any time
  ceiyed by our Government from Ger many. The Mexican difficulty is not as yet in a serious stage, and for the time being is almost completely overshadowed by the European war. Our presidential campaign also oc- cupies the public mind mucn less than usual, or than anticipated, for the same reasons Considering the Important issues at stake, public opinion IS rema rkably quiet, and the same may be said of both branches Of Congress at Washington. Such unexpected and unusual self--restraint must be credited to the sobering in- duence of war.
 Our Foreign Trade Amazing.
 Our foreign trade is again surpas- sing all records to an amazing extent. In rebruary both imports and export: far exceeded any previous month. experts touched S4O9,S0O, or $110, 100000 more than d year ago and S5U,O0O,0OO more than during the preVlous high point in December last. For the tWeIve months endi l. February our total exports were $3,72O, OU0,0 900, or almost double the amount during the same period of F1ll, five years ago. The March total will show big results, judging , by the enormous shipments uaiy from the port or New York, which is making tremendous strides as the country'S chief export center There has also been a gratifying in crease in the country's imports; the total for February being $193,9OO,OO0. or $68, ,SO0,OOO more than a year ago and 100000 ahead of the pre- yious high record in January las-. During the twelve months endin.c March 31st, our imports reached S1.- y09, 100000, or $56, 100000 in advanc. of the previous record for d like per tod ln 1913. The effect of war has cf eSurSe been to discourage imports and vastly stimulate exports, thus swelling our favorable trade balance to enormous proportions; the excess for the twelve months under review being $1.S10, 0,000,OOO, compared with S569, 100000 a year ago. This more than trebling of our tavora ble trade balance within d year is a factor of Immense importance in the settlement of our international trade, foreien loans and credits, the international trade balance is still running very heavily against the Allies and will
 
 ends. When that event, sudden ana perhaps violent changes will develo ), but neither their direction nor their duration can yet be foreseen
 From now on the crop situation will become a subject of increased i'm portance. Spring is late and d se- were winter inflicted considerable in- jury to winter wheat. There will be in condition is much below that of e. year ago. As offsets to these circum- stances there will be a considera ble increase in spring wheat acreage and g large carryover from the crop of there will be no real scarcity of wheat 1915, albeit of inferior quality; so during the coming season, nor any shortage for export
 Home Situation Satisfactory.
 Our home situation is satisfa ctory. The feverish activity observed during the greater part of the winter has some what subsided Last week bank clearings were only about 30 per cent ahead of last year, while for months past the ratio of increase has been n the neighborhOod of 50 per cent. this decrease was largely due to diminished speculative activity. In the ordinary channels of commerce of industry there are as yet no evil dences of slowing down; although there is a marked development of caution in making new ventures, the fear of overdoing having evidently re- strained initiative. Railroad earnings at the end of March were running about 20 per cent. ahead of last year, the increase being due more to the expansion of traffic than to highe- rates. In the east industrial activity continues at high pressure. At the