New Britain herald. [microfilm reel] (New Britain, Conn.) 1890-1976, 1919-01-30
WAR TRADE BALANCE
SHOWS GREAT gain
Exceeds That Of Entire 125 Years
Preceding World Strife

New York, Jan. 3O--Thc Favorable
trade balance" of tho United States
during the war period exceeded that
OF the 125 years from the adoption
OF the Constitution to the beginning
OF the war. compilation by The
National City Bank Of New York
shows that the excess Of exports over
imports during the 81 months of the
war aggregated $4,000, 100000 while
that from the adoption of the Con-
stitution to the beginning of the war
was but $9,007, 100000. These figures
of trade balances" are based upon
a comparison of the total imports with
the total exports of both domestic
and foreign merchandise.
Prior to the war. our excess of ex-
ports over imports, although larger
than any other country of the world
never exceeded $3.50. 900, 900 in any
single year. In the five war months
of 1914, the excess of exports over
imports was S264,0 100000; in the
calendar year 1915, $1,776,000.0 900; in
1915, $3,091 100000; in 1917, $3,279.-
100000; and in the ten months Of
1913 $2,493, 900, 900, making the grand
total of exports during the entire peri
Cd $10,906, 100000 while the excess of
exports during the entire period from
the beginning of 1890 to August 1911
was but $9,007, 100000
The comparatively small total of tho
favorable trade balance" in the 125
years from the adoption of the Con-
stitution to August 1914 is due to the
fact that the balance of trade was
almost constantly against us prior to
the great enlargement of our produc-
ton and expectation which followed
the Civil War. From the beginning
of 1890, the first year for which
figures Of imports and exports are
recorded by the Government down to
the beginning OF the year 1876 the
imports wore almost constantly in ex-
cess of exports. On only II occasions
in that So year period was there an
excess of exports and even these were
IN most instances extremely small
while the excess of imports was fire.
quently large. With the development
of the producing power of the great
Mississippi Valley and of the manu-
featuring Industries Of the whole
country coupled with an Improvement
of facilities of transportation to the
waters edge. there came a sudden
change in the matter of the trade
balance and in the fiscal year 1876
there was an excess Of exports
amounting to $S0,000,000; in 1873 it
was 25S,000,000; in 1898, $615, 5000
600 and IL the fiscal year 1908 $685.
431, 900 the high water mark" in eX-
cess of exports over imports prior to
the peculiar conditions of the war
period, When the war began the
European countries, which had for
merly supplied a large part Of our
imports necessarily reduced their
shipments to us but enormously in
creased their imports from us and q
continuation of this condition during
the entire war period gives the re
markable fact that above stated, that
our excess of exports over imports Of
the 81 months of the war exceeded
the aggregate excess Of the 125 years
which preceded the war.
This great excess Of exports over
imports during the war period occur
red almost exclusively in the trado
with Europe while in the trade with
other parts of the world notably Asia
and South America there was a large