New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-08-21
Luxury Imports
Slump in Spite
Of Prosperity
Statistics Show Decline in
the Total Value Of
Purchases

In spite of the fact that Americans
have been enjoying prosperity on an
unprecedented scale in the last year,
with a new crop of millionaires being
produced almost every month as a re-
suit of extraordinary expansion in one
line or another, importation of Injuries
into the United States has been ma
terially reduced. A compilation by the
National City Bank of New York shows
that the quantities now being imported
of the articles usually classed as "lux-
uries" are materially below those of
the corresponding dates preceding the
war.
The values of the total of Injuries
imported in the fiscal year 1917 is
somewhat less than in the fiscal year
1914, and as prices have been greatly
advanced It is apparent that the guam
tty being imported is much below that
of the pre-war period. Measured by
values alone, the articles usually
classed as "luxuries" fell below $780,
100000 in the fiscal year 1917, while
in 1914 the value of the same articles
imported aggregated s313,000,000, and
as in many cases the prices are now
from 33 per cent to 80 per cent higher
than in 1914, it will be seen that the
quantities have been materially re-
duced.
The imported articles which may be
properly classed as "luxuries" are ex-
tremely numerous, scores of important
articles and hundreds of the minor
classes, but there are few impor-
tant classes or groups which are read
lily recognized. Laces and embroideries.
for example, imported in 1917 are but
about one-half in value of those i'm
ported in 1914. In cotton laces alone
the value imported in 1914 was S33 $685.
600 and in 1917 S16,297,000, while in
laces of silk and fibres the 1917 value
is also below that of 1914. Art works.
as another example. which amounted
to over S35,000,000 in 1914 imports,
we're in 1917 below S23,0O0,000. To-
bacco in its various forms totalled S40,-
100000 IN 1914 and but S30,000,000 in
1917. In many others of smaller to-
tails the proportionate decrease is
equally apparent.
Precious Stones High
These decreases have occurred in
spite of the fact that prices per unit
of quantity are much higher than be-
fore the war. Diamonds, for instance
have advanced approximately 30 per
cent in value per carat of correspond
ing quality; pearls. which are espe-
cially popular at this moment, show
an even greater advance. Laces. which
we are no longer able to obtain from
Germany and which France has now
little time to manufacture, are much
higher than in the pre-war period: leaf
tobacco for wrappers of cigars has sd-
vanced from S1.S2 a pound in May,
1914. to S1.75 in May. 1917.
Mating, perhaps not considered q
luxury. but not an absolute necessity
in a time such as this. shows in official
reports an average value in May, 1917,
imports of IA cents per square yard,
against 9 cents per yard in May, 1914.
Macaroni imports of February and
March, 1917, were valued at 8l2 cents
per pound, against Az cents in the
corresponding months of 1914. Cur
rants imported in May, 1915, came at
15.5 cents per pound, against 3.9 cents
per pound in May, 1914; figs, 7.6 cents
per pound. against ga cents in the
same month of 1914; still wine in
casks. s5.8 cents per gallon, against
55.7 cents three years ago. Carpets
and rugs. woven whole. imported in
May, 1917. averaged $3.50 per square
yard, against 1921 in August. 1915,
the first month in which they were
separately stated by the Department of
Commerce reports. Woollen dress
goods imported in March, 1917, aver
aged S1.52 per pound, against IS cents
in May. 1914. and woollen cloths in
April. 1917. STAG per pound, against 90
cents in May. 1914
Smaller Quantities
The Department of Commerce figures
of imports in 1917 show for the great
group manufactures ready for con-
sumption" which is largely composed
of Injuries. total of S379,000 900,
against S449, 100000 in 1914. a decline
in stated value amounting to nearly 20
per cent, while the decrease in guam
tity must be far greater by reason of
the fact that the value figures in 1917
represent merchandise imported at
much higher price per unit of quantity.