Norwich bulletin., 1920-01-13
OUR 1919 TRADE FOREIGN AND DOMESTIC

Manufactures exported at the rate | of SIG, DOG. GOO a day a foreign trade of s1,000, ,600,0 GOO a month, and an inter- nal commerce of s65, GOO, COO, 0a0 for the year is the record of the United States in the calendar year 1919, according to an estimate by The National City Bank of New York.
 Figures thus far received, covering II of the F months of the calendar year, justify, says the banks state ment, an estimate of $3,500, ,000,900 worth of manufactures exported in 1919 against only S1000,000, ,000 in the opening year of the war. And it must be remembered that this calen- dar year 1919 represents a period of peace, in which the world was making Ho demands for war materials upon i the manufacturers of the United States Hence this tremendous in crease in our exports in 1919, as com pared with 1914, can not be considered as resulting from war demands as was the case in 1918 and 1917. It is | in fact merely a plain, simple growth in the value of ord nary manufactures xpcrted-nothing more, nothing less. l Of the group manufactures for fur 1 ther use in manufacturing" the total i for 1919 will approximate S1,000,0 ,000,- 600 as against one-third of billion in 1914, while manufactures ready for | use" will approximate $2,500,0 100000 as against tWo-thirds of a billion in 1914. In iron and steel manufactures of all kinds, the total exports of 1919 will approximatef S1009, ,006 900 as against S260, ,O00, 900 in 1914; cotton manufac- lures 8 of all kinds $275,000,000 as against $50 100000 in 1914; and lea ther and manufactures thereof S225,- 100000 as against s6S, 900 in 1914.
 Another evidence that the chief growth in exports occurs in n1anufac- lures appears, in the fact that the largest growth occurs in the move ments to non n-manufacturing sections of the world. South America. Asia, Africa, and Oceania rely chiefly upon Europe and the United States for their manufactures, and, in fact, man. ufactures have for many years form ed approximately 80 per cent. of our sales to them, and when it appears that our 1919 exports to South Amer ica will total $450. O000G0 as against less than $100 006, 900 in 1914; to Af- rica $90,000, 600 as against s25O00,- 900 in 1914 and to Asia and Oceania about $S75,00o.00O as against S175,000,- 900 in 1914. it is evident that the growth in our exports of manufae- lures is worldwide and includes prac- 1 tically every class of material de- marded by the non- manufacturing world.
 As to the growth in our imports, says the banks statement, it is equal ly surprising They will apparently I.tota1 nearly or quite $4,00O GOO 900 as against s3.03t, 900, 900 last year and s1.7s9, ,000,O0O in 1914. This increase occurs chiefly in crude manufacturing material, of which the total for the F months will aggregate $1.650,060.000 as 6O0 nan in
 As to the banks estimate of an in- ternal trade of $s5,000, ,600,000 during the calendar year; it is estimated says the banks statement, upon the belief that the outturn of our farms factories, mines, forests. and fisheries in the calendar year 1919 will aggre- gate about $S0,00G, ,00o GOO, to which must, of course, be added the $4,000,- 000,000 worth of imports which pass into and form part of the internal commerce of the country. This esti mate of $s5 900 00O,000 is thus based upon a mere once-handling, or single sale, of each of the products of the United States. Recent figures of the department of agriculture justify ar estimate of approximately BPS G00,00o,- 900 as the wealth production or farms" in the calendar year 1919. h. quiries among those closely familiar
 
 justify an estimate of $50,O00, coo as the gross valuation of the manu- factures of the country in 1919; while the products of tkc mines will prob ably approximate $4,000, 100000 of forests and fisheries a couple o1 billions, and miscellaneous" S1,0o0.- 00e000, bringing the total gross value of the outturn of the United States ir 1919 at above $S1 000 900 ooO If to this we add the $4,OOo. 100000 worth of i'm ports, the grand total of merehandise entering internal commerce, stated values at the places of production would be $S5,000, 900. .000 counting only a single transaction in the merehan- disc in question, and at retail prices would certainly exceed $100, 900, 900, still counting only one sale oi each article in question.