The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1919-10-30
DOUBLE RECORD OF LAST YEAR

DOUBLE RECORD OF LAST EAR
! How rapidly imports have grown WITHIN
! u months is shown by the fact that the
money value of the commodities import
/ cd bv the United States in September,
/ 1918, was two hundred and sixty-two mil
! lion dollars the money value of the I'M
port brought into this country in Sep
TENDER of this year was nearly twice as
great
| Furthermore. in the nine months to
October of this year the money value
of the commodities imported by the
| United States was nearly two billion
seven hundred million dollars, whereas
for a like period in the previous year
the money value of the imports Was
| ttearly four hundred million less.
The reason by the authorities OF wnom
Secretary Redfield and Mr.. Morrow are
typical welcome reports which showed
| very great increase in our imports Oh
commodities beginning in the early sum
| mer of this year is based upon the Aac'
| that we cannot continue to export SO
| enormously in excess of imports "i.houe
ultimately bringing a deadlock or pos
sible serious financial disturbances.
If the increase be maintained, it Will
he found that our monthly imports Will
soon be in excess in money Value Oh I'VE
hundred million dollars. NevertnelesS we
are still exporting commodities Vas.S
in excess of the imports. For instance,
naymeut comes five hundred and ninety
Three million dollars for the commodities
,exDorted in September. Great as inns
tsum is it is a falling off from the eA-
ports in August which were OF the money
value in round numbers OIL SIX huiloie Gu
and fifty million dollars
Reckoning back from January 10
Ocstober / the money value of our eX-
ports were a little under six billion dol
lars This is partly explained by the
fact that Immediately after the arms
lice was signed there came very heaN
land vet somewhat unexpected demand lot
American commodities. They were OF the
1[;nd urgently needed for home consump-
tion nv the nations which were our al
lies during the war. -e
Undoubtedly the time is not far OH
= when a demand for commodities OIL ms
kind will fall off. Our friends across the
= sea are beginning to produce not greatV
hut the production increases and II is tne
I kind of commodities when are heeoeu
for immediate consumption.
IT NAV be that on January l the de-
nartment of commerce at Washington
E will be able to report that there mas peei
L a marked falling off in the volume aho
u money value of our exports TOT the yea
while at the same time gratifying III
Vi crease in imports has taken place.
J. The gratifying result reflects the we"
\ of Mr. Morrow as set forth at the inter
= national trade conference al Atian.,'
l. CITY. Both Mr.. Morrow and MT. heoi'ei'
smoke as though convinced that II is
is ,,;tai importance to reduce the trade bal
d ance which for year or two mas peer
In favor of the United States perhaps a
l. nn,cb as four billion dollars, certani'
n &c ,,uch as two There is peril, TN
sneaker said. in situation OF TINS klnd
4, Mr. Morrow seemed to be Oh tne oPiiio
l. that within year or TWO II may
possible to cut down the traue pa.A ~,
he in favor of the United States TO TWO oii
\ lions wear and that this could De II
nart accomplished by a very great III
/. rr..se of imports from Europe ana
l. decrease of exports to whlch must
E. added tourist letters of credit ana 1e
n.ittances which are sent py ioIeie
TO laborers in the Chlteo o'a
j. friends at home ,ro~,
oro noint raised by Mr. Morrow is like
l., Ia excite a great deal of discussiol
u for he, strong republican as ne 10 80
+ warmly of such reduction OF our tarh
Is schedule as will make it all the mo-
U. easy for Europe to export her eoi'''"0
= ties to the United states. :
Novartbeless trade balance cannot
hroueht TO normal conditions in the we
~ M Morrow simply by an increase
| ;mnorts from Europe They must We is
| gifted first by the extension Oh slos
| credits to Europe and also pA w ~
| chase of European SECURITIES ~ -
Hunted states .. f,,+ III.
~ .,uost the identical moment when M
II Morrow and Secretary heoi.eiu ""
speaking of the abnormal trade o ,a p
in favor of the United States ana .ne II
cessity of cutting it down the oepar
ment of commerce at Washlns.oh 49,
49, in the month of September r
rrable change in the relation OF e.
nnrts to imports took place. the gain
> 80 IN the imports.