New-York tribune., 1917-12-25
Billions Added to
Trade Totals in
4 Years Of War
High Prices Account Partly for
Increased Value Of
Production

Changes IN lnuusblidi anu NN'N'
cial conditions in the United States
resulting from war activities are Nus
trated By a series OF statistics COM
piled By the National City Bank OF
New York, showing conditions Of pro-
duction, industry and commerce in the
United States in 1917, compared with
the preceding years, and especially
with 1913, the year which preceded the
war.
In foreign commerce the year 1917
far exceeds in value Of merchandise
imported or exported that OF any
earlier year. Total imports for the
! full calendar year 1917, according TO
the banks statement, are so per cent
greater in value than in 1913, and eX-
ports Of domestic products $50 per cent
greater in value than those Of 1913.
/ The total foreign trade Of the country
| is estimated in round terms at nine
billion dollars in 1917. against. four
/ and a quarter billion dollars in 1913,
the total of imports and exports com
bined being thus more than double in
| 1917 that of 1913.
In manufacturing materials imported
and manufactures exported the growth
! has been even greater than that shown
/ by the figures of total trade. Imports
| Of raw manufacturing material IN 1917
are more than double those of 1913
/ and exports of manufactures are three
and one-hah times as much as in 1913.
! Foodstuffs imported are nearly twice
as great in stated value in 1917 as in
! 1918. and foodstuffs exported are two
and one-half times as much in stated
value as in 1913.
Higher Prices Swell Totals
: That these large increases are due
/ in a considerable degree to higher
prices is evidenced by the fact that
. the raw silk imports of September,
1917, were a. the rate of $3.50 per
: pound, against s3.43 per pound in Sep
/ tember Of 1918; raw cotton, chiefly
/ Egyptian, 42c per pound in September
/ 1917, against lie in September, l9a;
manila hemp, 1922 per ton, against
! S2l0 per ton; cattle hides, 27c Fer
/ pound, against i9c; goat skins. 42c per
pound, against 26c, and clothing wool
Acc per pound, against 2ic in the cor
responding month of 1913. On the eX-
| port side the contrast is equally strik-
J. X.
! having averaged S2.32 per bUsheI
against 94c in September, 1913; corn
! sl.96 per- hushel, against 78c in the
! corresponding month of 1913; steel bill
lets. S84 per ton, against s2l; sole
: leather, soc per pound, against 26c;
raw cotton, 25c per pound, against l3c
and refined sugar, &c per pound, against
4c in September. 1918.
4 Trade with the grand divisions OF
the world shows equally remarkable
changes. Imports from Europe dropped
from 1866, ,000,000 in 1913 to $3.50, 100000
in 1917, while those from South Amer
lea increased from Sl9S,000O00 in 1913
to $3.50, 100000 in 1917, and those from
Asia increased from 1921 100000 70
{ S740,000,000 and from North America
from S390,000,000 to S860,000000. Ex-
ports to Europe jumped from $780,
100000 in 1918 t. Si,ll0, 100000 in 1917
North America from S60l, 100000 in
1913 TO s1,210,000,000 in 1917, to South
America from sl47,000,000 in 1913 t.
s3l0,000,000 in 1917.
Imports from Europe are actually
less than those from North America
South America or Asia, while prior to
1916. Europe always headed the list oil
grand divisions supplying our imports
Big Gains in Produc, on
Production of the staple articles OF
food and manufacturing materials
shows also large increases, with a few
exceptions, notably wheat and cotton
and even in these the value Of the 1917
product is, by reason of high prices
far greater tn that of 1913. Corn
production is more than 100000 00C
bushels, against less than 2,500,000,-
900 bushels in 1913; sugar 2,225,OOO..
900 pounds, against 1,750,000,000 in
! 1913; coal, approximately 650,00000O
: short tons, against 560,000 900 in 1913;
pig iron, over 38,OO0,OO0 long tons
! against 31,OO0,OO0 in 1913, and cop
per more than 100000 long tons
against $4,000 in 1918. The total value
( of mineral products is set down at ap-
proximately $4,000, 100000 in 1917
against less than S2,500, 900 in 1913,
and che wealth production on farms in
4 1917, according to the Department OF
Agriculture figures, is S2l,000,0 900
against slightly less than $4,000, ,O00,-
900 in 1918.
The result Of this tremendous in
I crease in production. and especially in
I the value Of the product, is shown in
: the fact that the total money in circu-
lation increased from s3,363, ,73S. 900
July /, 1918, to s4,s50. 100000 on July /,
1917, an increase of nearly so per cent,
and individual deposits in all banks,
national, state, savings and trust com
panies. increased from s17,745, ,f64. 900
, in 1913 TO approximately 5000, 900 900
on the corresponding date of 1917, also