New Britain herald. [microfilm reel] (New Britain, Conn.) 1890-1976, 1917-12-20
FISCAL YEAR 1917
GREATEST IN TRADE
Annual Report Of Bureau Of For
eign and Domestic Science +.

Washington. Dec. 2o.-America's
ascendancy to financial supremacy In
the world in the brief space of three
years. gives every promise of contin-
uing after peace comes. according to
the annual report OF the Bureau Of
Foreign and Domestic Commerce.
| ut is probable that the demand by
European countries" the, report sayv,
especially Russia, France and BelGi-
UNI. for building material, machinery,
railway equipment and other construc-
ton and reconstruction material will
be larger than during the war. Much
Of our new business In South and
Central America, Australia, and the
Far East, - we'll as in Africa, is ex-
pected to be permanent, especially In
view Of our increased purchases OF
raw materials and foodstuffs from
these countries
Sinee 1S14 the now Of gold has been
steadily toward the United States in
payment for this country's goods un-
til one-third OF the worlds visible
supply OF gold is held here. Net i'm
years to $1,115, 100000 Ind in addition
millions OF dollars worth of American
securities held abroad have been re-
turned here in exchange for merchan-
disc. Millions also have been invested
in foreign securities and government
loans and the United States has made
loans to the allied governm ents
| amounting to $2,25o,Oo0.oe0 to the
close Of the fiscal year 1917.
Three years ago the suggestion
| that the United States would soon b.
| creditor nation received ecAnt re-
spect either here or abroad" the re-
port says. Now speculation, Is turn
ing On our future rank among credt-
| tor nations"
| The fiscal year 1917 was the ma
tons greatest year In foreign trade.
due almost entirely to higher prices
and not to larger quantities.
| That higher prices are not con-
fined to the United States, but are gen
eral throughout the world is proved
by the increases in the prices OF I'm
ported articles" says tho report.
4 Exports in 1917 were valued at the
unprecedented sum Of $s.2s4. oo0, 200
and iuapoTt3 were 42,66O, 100000. This
exports showed an interesting feature
in the growth in sales of completed
manufactures. $2,a44, 100000. The
tendency to increase inapoTts Of raw
materials and decreaee purchases OF
finished manufactures made a strik
Ing contrast on the other side Of the
ledger.
There has baon pronounced ten
J dency." says the report. "to buy dirsc
from the original source Of supply in
stead OF through mfddlemen as here
tofore."
Most of the exports went to Europe
consisting in the main Of army sup
plies and foodstuffs, but tremendous
increases were made in enmmerc'
with Latin.AmerieA the FAR East ant
remote parts Of the world which for
merly were custon1aEs of European
countries. It is this new trade which
tho Bureau Is organising to aid Amer
can manufacturers 10 retain After TIL
war: and which Burwell q. Cutler
chief Of the Bureau, says can be don
despite the United states becoming
belligerent, adding:
"1t is confidently axpected that gu
trade with South America, the Fa
East, south Africa and with Australia
will not be too seriously dnterfere'
| with and that We may reap in the fu
ture the benefits Of having cultivated
those markets 50 assiduously and in
telligently during the past few years.
Exports to North American coun
tries Increased from $529. 00o.000 i
1914, to $1,164, 100000 in 1917. a gai
OF 1920 per cent. Shipments to Sout
America more. than doubled. risin
from $125,o0O.O00 to $26O,000,0 DOT
Exports to Asia increased more tina
three-fold. from $113, 900, 900 to 1880
4 100000. Sales to Oceanic rose froI