The Pensacola journal. (Pensacola, Fla.) 1898-1985, 1920-05-22
EXPORT DEMAND
Is INCREASING
FOREIGN MARKETS ARE TAKING
AN INCREASING PROPORTION
OF AMERICAN MANUFACTURERS

mat foreign markets are taking
an increased proportion Of the manu-
iactures produced in the United States
Is SHOWN by statement by Mr.. o. p.
Auslln, statistican of National City
Bank Of New York. presented at the
recent meeting in San Francisco of the
National Foeign Trade Council. While
II Is impossible to state, Mr. Austin
saio' the exact proportion of our man
fractures which finally enter the ex-
port trade, it is quite apparent from
q comparison of the figures of produc-
lion and expectation that foreign mar
kees are now taking larger share OF
Inc output OF our factories than ever
oe1ore This is evidenced first, by
the Iact that our expectation of man
fractures increased over $50 per cent
IN the period between 1914 and 1919.
while the production Of manufactures
IN the same period increased but 100
per cent in stated value. While, the
census of manufactures produced in
1919 is not yet completed, the best es-
Inmates Of exports are that the stated
Vaiue OF the manufactures of 1919 will
be between $4,000. 600. 900 and $4,000
100000, as against $24.246,000,00 in
1914, making the increase valuation
probably a little less than 100 per
cent, while the official figures of
manufactures exported in 1919 show an
increase of 258 per cent over the ex-
ports of manufactures in 1914. thus
clearly indicating that our manufac-
lures sent abroad in 1919 larger per-
centage of their output than they did
in 1914 or in any earlier census year.
Just what proportion Of the manu-
features produced is actually exported
cannot, however, be determined, says
Mr.. Austin's statement. The only rec
ord of manufactures produced is that
OF the census. which states the factory
value at the place Of production, while
the only record Of manufactures ex-
ported is that of the Department of
Commerce, which states the market
value at the port Of expectation. and Of
course the market valuation" Of each
article at the port of expectation is
materially higher than that at the fac
tory, hundreds and perhaps thousands
of miles distant from the point at
which it is exported.
Still another difficulty in an attempt
to compare the value of manufactures
exported with the census figures of
produced lies in the fact
that the census figures confessedly in
clude many Implications, due to the
fact that certain lower grades of man.
ufactures are used a second time in the
production of the finished article, and
these values of the lower grade goods
are duplicated in the returns of the
finished product. A comparison there
fore of the net value of the manufac-
lures exported with the gross or aggre-
gate value of the factory product-and
these are the only figures which we
have of either production or exporta-
tion-would not accurately show what |
share of the factory product is export |
ed. It is possible, however, to deter
mine for each census year the ratio
which the valuation Of manufactures
exported bore to that of manufactures
produced, and a comparison of these |
ratio figures form decade to decade.
shows clearly that exports bore in re-