Republican farmer., 1920-04-02
EUROPE BUYING
 LESS OVER HERE

American exports to Europe during February, reported by the Depart ment of Commerce as valued at $33S,- 661, 900, were only s10, ,500,000 greater than in February of last year and were less by $S3,525, 900 than in Jan uary, 1920, whereas the decline in the total of export business of the country as compared with that month was $S6,976,00o February imports from Europe registered a gain of about 250 per cent. over the same month of last year, being reported at $106,743,0o0, against $3O, ,020, ,00e, but showed a drop from SIP, ,o3o, 900 in January. The excess of exports in | the trade with Europe during Fsebru- | ary was s277,91S,0 ,000, against S356,- 1 156,000 in January and S344, ,038, 900 l a year ago. On this basis the showing 1 is regarded as more favorable than 1 for either of the months with which l comparisons are made.
 | A feature t- the months returns is l the further expansion in the export i trade to Germany. much of which is 1 und derstood to be financed through the 1 marketing in this country of German municipal bonds. The value of ex- | ports to Germany during February was $18,59s, 1000, an advance from | S4f,Ot O,VVO III J thudIy 1IlpOTLS, OA the other hand, declined from s4,3S5,- | coo in the first month of he year tc
 s3,SS1,oe0 last month. The ban or
 trade with the enemy had not been lifted a year ago so that there was
 no commerce with Germany in Feb. l ruary, 1919.
 The bulk of American exports te
 Europe continues to be taken by the
 four principal countries of the Allied
 group, Belgium, France, Italy and the 1 United Kingdom. the latter account
 ing for a greater share of the tota
 during February than any other na
 ton or than any grand territorial di
 vision excepting Europe. The ex
 ports to this group dropped sharpl! as compared with February, 1919, ant | even more sharply as compared witt
 January, being valued at only $2S9,
 190,00o. In the case of France ant
 Italy, shipments were smaller than il February, 1919, as we'll as in Janu | ary, while exports to Belgium wer
 approximately the same as a yea
 ago. Exports to the United Kingdom
 were less than in January but alInos
 $3,O00,000 greater than in February 1919. The declines from the Janu | aIy figures are attributed to the breal in exchange and the shorter month Imports for the group were valued a
 $75, 5,484,000, off somewhat from Janu
 ay but almost 300 per cent. highe
 than in February, 1919. The exces l of exports figures out as $213, ,205, ,000
 against $z73, ,0O0 in January an
 $36s, 50 3, 900 year ago.
 Trade with the principal neutra countries of Europe exhibited mucl the same trend as that with the Allies ) Considering them as a group, mad up of Denmark, Holland, Norway
 Spain, Sweden and Switzerland, ex
 ports increased over the total fo 7 1 February, 1919, but were slightly les than in January. Imports gaine s somewhat over January and wer r more than 300 per cent. higher tha 8 1 a year ago. In each instance the
 were ahead of the 1919 record, where
 as exports showed a decline in tn T case of Switzerland The latter cour e try continues to rank as the only na d tion of Europe which is sending mor T to the United States than it is takin T from us The excess of exports fo
 the group was $35. 600 in Febru
 ary, compared with s40,S1S, S,oo0 k January and $37,o5o,00O in Februar. d 1919.