The Washington herald., 1921-08-12

export products Tor the TWO years
1920 and 1891 give some interest,"
ing sidelights on the changes that
are taking place. For example. the
amount of lard exported increased
l5S. 900, 900 pounds. yet the value
decreased s4s,0oo.oo0. oleo oil In
creased 33.oO0,o0o pounds. but de-
clined In value s6,800,00o.
The reverse occurred in the case
of crude mineral oil. which de-
creased 100000 gallons yet the
value increased 100000. Tho
same thing occurred with other oils.
These cases serve to show the diff
hculty of judging foreign trade by
either volume or value alone. Even
the measures OF volume are not
comparable since tons, pounds, gall
ions and barrels are used for diff
ferent products while for others no
measure of volume is used.
The gain in value OF exports of
crude breadstuffs was the outstan nd
Ing feature of the years totals.
In view of the fact that agricul-
tural products form. roughly, half
OF our exports. this Is of interest
as indicating the possible trend Of
trade. Breadstuffs. meat and dairy
products and cotton products, in
cl.ding oil. amount to over S2,1os,-
100000 OF the total of s6.516, ,o00, 900.
or the total breadstuffs the big
item, wheat. shows the largest gain.
OF wheat the total in quantity OF
exports was 2s3.00o.0o bushels in
1891 against 122.000.000 bushels in
1920 and 17s.000.000 bushels in 1919.
In values 1921 was much more than
double 1890 or s6ss.00o.00o against
S3o6.000. 900. Flour on the other
hand decreased from $4,000. 900 in
1920 to s154.o00.000 IN 1921.
The amount Of corn exported
made a remarkable gain during the
year TO a total OF S60.000.000 COM
pared with s23.000.00o in 1890 and
s26.000O0o in 1913. The gain In
quantity in 1921 is even greater
during the last year. from 10000
900 bushels in 1920 to $1,000. 900
bushels in 1921. This is a record
for corn exports in quantity but
not in values.
Meat products. in contrast TO
grains, have declineL in value since
1919 in the following order: 1919.
sl.043.0UO.0o0: 10 0. sS42.0OO.00O. and
1921. S355.0o0.00o. The one excep-
ton in the meat products was lard.
Of which the exports of 1891 ex-
ceeded both 1890 and 1921 in guam
tity. Dairy products as a total de-
clined.
The exports OF manufactures OF
iron and steel come very near to
the total for 1919 and within speak
ing distance of the high record OF
1917. While declining toward the
end of the fiscal year, the totals
were still high.
Mineral oils show a gain over
both 1919 and 1890 in both quantity
and value. the exports OF gasoline
making a new record.
Coal experts, which have been
heavy in recent months. due to some
extent to the British coal strike.
cannot be expected to hold up quite
so well in the future months.
The totals for 1921. when the CAL
endar year is completed, Will likeiy
show much greater loss COM
pared with the previous year, since
the shrinkage of exports during the
past few months, will not be offset
by large movement OF the last half
OF 1920. The foreign trade of Eu-
rope had not resumed it's activity
last fall, and the price adjustment
had not been made.
The interesting aspect of for
eign trade figures just now is to
observe the shifting OF foreign de-
mand from one line to another as
indicating the competition to be
met from foreign producers. Thus
far the general decline has been
such as to preserve a favorable bal
ance.
Agricultural exports appear to he
maintaining their relative position
as providing half of our normal
exports.