The Holbrook news., 1921-09-09
1921 TRADE ANALYSIS

trade for the fiscal year ended June 30th. 1921. shows clearly the effect of the worldwide trade depression that came as an aftermath of the war" Lower prices rather than diminished quantities are to a great extent responsible for the decrease in exports from eight billion in | 1921 to six and half billion dollars in 1921. For example, a compilation and of exported commodities reduced, so far as possible, to a weight basis shows weight increase of 34 per cent for the groups of raw materials and of 37 per cent for foodstuffs in 1921 compared with l 920. with a decrease of 4 per cent for such partly or wholly manu- factured articles as can be shown by weight. The final totals, in- cluding articles forming 69 per cent of the value of domestic ex- ports in 1921, show a decrease in value of 19 per cent. but an increase in weight of 23 per cent compared with the preceding year. Department of Commerce figures are used.
 Take cotton, for example,: Nearly seven million bales ex- ported in 1920 brought little under $1, 400, 900. 0OOO, while B. 400, 900 bales exported this last year brought but $500, GOO, 900, or to express it in percentages, there was decrease of 22 per cent in welght and of 57 per cent in value. We porte d 252, GOO, 900 pounds of d ri e d fruits in 1920. valued at $42, 00O- 900, compared with 112. 1000, GOO pounds in 1921. worth $15, 00O.- 900. Here again we have de- crease of but 55 per cent, while the value fell off 180 per cent. Exports of glucose, glassware, hides, tlnplate, leather goods. meat and dairy products, naval stores, lumber, and many other products show decreases in value out of all proportion to the de- creases in volume: while there are certain articles which show an actual increase in volume and a decrease in value, comparing the two years. For example we exported 786. .0OO, 900 pounds of oilcake and meal in 1920, worth BPS, 100000, and 846, 1000, 900 pounds in 1921. worth $l9. GOO. GOO; and of cottonseed oil we ex- ported the preceding year 159. 900, 900 pounds worth $36. .000. : 900, compared with 283. 000,00 pounds worth $31. 100000 in 1921.
 The Republication forecasted drop Tn exports long before they took place, and the Depart ment of Commerce finds that the drop did not begin to make Itself felt appreciably until the last half of the fiscal year. A. side from lower prices number of other causes contributed to slowing up our export trade:
 T, We no longer had practical monopoly on supplying many kinds of merchandise de- manded by foreign countries.
 '2. The devastated regions of Europe are again raising crops and are not so dependent on us for food supply. (This will doubtless be offset consider ably this coming year by the demands from Russia.
 a. Europe's pressing needs for raw materials have been considerably assuaged.
 "A. With exchange rates of foreign currencies depreciated to point which made prices in dollars prohibitive. with declin- ing imports, the impossibility ct settling the balances already due the United States in gold, the difficulty of arranging fur ther credit facilities. with can celIation of orders, rejection of goods already shipped. and col lection drafts dishonored, it was 1 impossible for exports to con- | Tl ko voolro ht1oipocc pick