The Washington herald., 1921-10-29
AIDS in APPRAISuSC
TRADE PROSPECTS
FOR U. CONCERNS
Commerce Department
Co-Operates With Fed
eral Reserve Bank.
COVER WIDE RANGE
Weekly and Monthly Bulle-
tins Keep Shippers Posted
On Conditions.

The work which the enlarged sta
tistfcal service of the Department
of Commerce Is doing in giving 10
manufacturers and traders author
itative data on economic conditions
both domestic and foreign. through
its monthly Survey of Current
B1siness" and its weekly Com
merce Reports" is q notable step
in the more effective economic or
gani4ation of our country.
The cooperation of the Federal
Reserve Board is assured. The new
statistical work Of the Department
of, Commerce is in line with what
the Federal Reserve Board has long
recognized to be a need and one
which Il has undertaken. in its way,
to help meet in its monthly publica-
ton. the Federal Reserve Bulletin"
Aids All Industry.
While undertaken primarily for
the information of the banker, the
Federal Reserve Bulletin contains
much that is Of value to industry and
trade, both in the domestic and In
the foreign field. Indexes OF for
eign trade. or foreign exchange, OF
wholesale prices in leading coun-
tries and of ocean freight rates are
computed and published monthly
in the bulletin. The monthly review
Of business and financial conditions
abroad Is also a regular feature.
Occasional special articles appear,
such as that on financing cotton for
export. in the September issue, or
that on Italy's war financing, IN the
October issue.
The monthly article on business
conditions abroad. while concerned
primarily with the financial and
banking situation in the leading
foreign countries. carefully notes the
economic factors responsible for de-
deals with the state of public
finance, industry, employment
movement of prices, both wholesale
and retail, foreign trade movements,
foreign exchange. etc. In recen,
numbers special attention has been
given to the question OF competitive
advantages in the international
market of countries with depreci-
ated currencies. Special reference
has been made to German competi-
ton. A study of the comparative
price levels in various European
countries and the interrelation of
domestic and foreign prices as af-
fected by fluctuations in foreign ex-
changes and also OF the level of
wages and cost of living has been
undertaken. Data bearing upon
these items were recently shown for
Great Britain. Germany and Sweden.
International Price Index,
In connection with the problem of
international payments. the stats
teal and research divisions of the
Federal Reserve Board have under
taken the construction of an inter-
national price index in o-der that
the relative purchasing power of
money in different countries might
be accurately ascertained and COM
pared Large scale payments be-
tween countries are ultimately made
in goods The amount Of goods
that a unit of money will purchase
In different countries is therefore of
primary Importance from the point
OF view of financial settlements.
The Federal Reserve Boari has
set -rp for its use. and particularly
Tor purposes of foreign comparison,
an@Dfndex number of wholesale
prices, based on about ninety quota
tons staples primary impor-
taaee. grouped as goods produced,
goods imported and goods exported.
as wen as raw materials, producers
goods and consumers goods. This
index shows not only the trend Of
the general or average purchasing
power OF money In the different
countries but also its purcha sing
power with respect to certain basic
clesses Of commodities. Index NUM-
ors are currently published for the
United States