The public ledger. [volume] (Maysville, Ky.) 1913-1968, 1921-12-09
100000 oo 100000
WASHINGTON LETTER.
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Washington, Dec. 8. - Especial Cor
respondencc) TIL monthly survey
Of agricultural and Industrial condi-
tons made by the Department OF
Commerce, may be summarized as fol-
lows:
Storms have reduced the rive crop
In Japan nearly Is per cent, the esti-
mated yield being about 2S2,O0O,OOO
bushels, or 100000 bushels less
than the annual consumption. This
means that Japan will have to import
There Is a growing tendency to use
wheat and in September we exported
1867 900 bushels to that country,
partly due to the efforts Of the Aus
tralian wheat pool to maintain prices
The fall COCOON crop will be small,
which means an increased price in
raw silk. 1t has averaged about $3.50
pound, import price, thus far this
year. Savings deposits continue to
increase. Building and construction
are back to normal and this has re-
suited in heavy importations Of lum-
Der from America. There has been
reduction of warehouse stocks, and
the budget has been cut, principally
the naval appropriations.
The financial situation in China has
been bad an dis growing worse. Great
speculation in silver. In ten months
1.4S2,O0O gross of hair nets were ex-
ported from Chefoo to the United
States. Swallow shows considerable |
increase in the embroidery industry |
Large imports are predicted because
Of exhausted stocks, the principal re-
vivals of merchandise are OF Japan
ese and American cotton goods, Bel
gian and English window glass. and
German analin dyes.
Financial conditions in Australia
continue to improve. The wool mar
ket is firm, but there is stagnation in
the meat industries. Import buying is
being resumed. Labor unrest and
strikes have been waning and living
costs decrease. The wheat board is to
terminate its operations December 81.
The slump in the German mark
caused by repatriation payments and
the Upper Silesian decision OF the
league of nations has been followed
by enormous pu releases of German
goods for foreign consumption. Liv-
ing costs are soaring and there is
great initiation. The budget for the
fiscal year eended March 81, 1922, will
show a deficit of 10 billion paper
marks, while 1923 will show deficit
of 1877 billion. These include the in
demnity obligations, without which
the deficits would be 10 and q bill
lions for the two years respectively.
New capital absorption has average
100 100000 paper marks so far this
year. Unemployment is rapidly
dwinding. The crop outlook. especial
ly potatoes, is discouraeing. The mer-
chant fleet is building up rapidly.
| Conditions in Great Britain continue
tC improve and arrangements have
been made to commence annual pay
ments of G50,O00,000 interest on the
war debt to the United States. There
is to be large reduction in military
and naval expenditure. Foreign ex-
ports are to be stimulated by Il re-
vision of the British exports credit
scheme. Crops are the worst for
years, the root crop being the least
successful of all
France entered the fourth quarter
Of 1921 with exports and imports bal
anced. There is an increase in pro-
duction. The business turnover tax
is to be doubled. Strikes have largely
been settled. Crops sho wup well.
Government revenues in Italy are
encouraging. An increased flow of
foreign capital into the country is
noted. Unemployment is decreasing.
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