The Washington herald., 1921-07-31
WORLD TRADE Is
HUNDRED BILLION:v.asF
DURING YEAR l9Nnraa
- DIE
Reports from Twenty Ma
ti0ns Are Basis for e57ra
Estimate. soJ
u. s. SHARE LARGE
,2cI1
Figures Show Manufactures
Have Increased 800 Per s,tiail
Cent. 80
u. S. SHARE LARGE
World international trade in 1920

World international trade in 1929
aggregated approximately 100000
100000 in stated value against sea-
OOo. .Ooo, 900 in the closing year Of
the war. and s4O.OOo.OOo.oOO at ~ .
beginning.
The 1920 figures Of world trade.
says a statement by the National
City Bank, of New York, which has
accumulated them from ofic1ar
sources wherever available. are
based upon the published trade re
ports Of about twenty principA
countries whose international com
merce ordinarily forms about two
thirds that Of the entire world, and -
adding TO the official total Of these
twenty countries an estimate for the -
others based upon their latest of-s--r'
ficiaI returns, il seems apparent --
that the face valuation Of the mer--
chandise forming the imports and
exports of all countries in 1890 will 81.
approximate 500. .OO0. .OOO. 900 sgainsty=
SEA. .oOO. 100000 in 1918, $4,000. .OOO. GOO o.
in 1918, $4,000. 200, 900 in 1900, and ..
$40. .OO0. .O0O. 900 in 1870, when ths.--s
Cnited States took of its coat nn0
and entered seriously into the world
trade. ..r.4 Of
In that year. 1870. our internssy-
tional trade was about s per cent WV
that of the entire world. in 1913
approximately IL per cent, in lsIs..a
the closing year of the war. about
IL per cent. and in 1920 again abov.-' =
IL per cent. though, as above indi.
Gated. the figure Of world trade in
1920 includes estimates for certain .t77
minor countries for which oficisi---
figures are not yet available. "-
L. $. share Larger. --~S
One especially interesting feature
of this comparison OF world trAd-
in 1920 with that Of the earlieI
years lies in the increasing sbsrr,
which United States manufactures
form of world trade. Prior to the
war, we supplied but one-siNth 81
the manufactures entering interns1r
tional trade and in 1890 nearly o.
quite one-third. Prior TO the war 81
our manufactures exported amoE1t,r 80
ed to little more than 81 .oOO. 600 .SCo- -
/ per annum. and in 1920 were NOR
than $4,000. 600 600. having thus ih-
! creased 80 per cent in value in the.
lsI3-Is2e period. while world inter
/ national trade was increasing a. PEEL
per cent ir nominal value in thai
me period. The official valuation
Of our manufactures exported IN
1890 was nine times as much as m
/ 1900 and manufactures formed -
per cent Of the total domestic eN-
ports in 1890 against IS per cent in.
/ 1910. So per cent in 1900. 81 per cent
7 in 1880. and Is per cent in 1850. ---
Iii is proper to add. Says the banks
statement. that the above estimatl
/ Of 500. 600 600 900 as the nomiRst
value Of the worlds international
trade in 1890 follows the custom -
the statistical organizations OF the
leading countries by stating the
equivalent "at the approximate par
Of exchange" Recent publications
/ by the British government covering
the 1920 trade Of twenty principal
countries transformed their respvc-
I tive values to the British equivalerf
at the approximate par Of eA-
/ change" and the latest official pub
. lications of the United States gov
! ernment in stating the value OF the
trade of the various countries Of the
world state that foreign currencier
have been converted al par"