The New York herald., 1921-07-04
TRADE near.
3 BILLION BALANCE
American Commerce Shows
Increase Despite Adverse
Conditions.
ALL INDUSTRIES GAIN
Seven Millions in Goods
Shipped Daily to For
eign Countries.
IMPORTS SO, ,468,787,153|
Farmers and Workers Share
in Prosperity in Last
Fiscal Year.


able next month are expected to show
a favorable balance of roughly $780,
ooo,0 900 additional for that month which
completed the Governments fiscal
year.
The trade balance Is the difference
between the value of commodities ex
ported from the United States and
those imported into this country.
Exports totalled s6.o55.S56.70s for the
eleven months ending with May while
imports were slightly more than half
this amount s3,46s.7S7,1 1853. These hg-
ures will be slightly increased, officials
said to-day when the complete reports
for June are In hand. early next month.
The strike or seamen, marine engineers
and other marine workers is credited
with causing the figures to fall OF dur
ing May and June. But despite the
strike and generally adverse world
trade and commerce condition the for
eign clearance of the United States has
experienced a prosperous twelve months,
II the Commerce Department reports are
reliable indication.
All share in Prosperity.
American exporters. manufacturers,
farmers and workers shared In the pros
perity OF the trade balance. officials said
to-day. Exporters handled q business
larger than the total ordinary expcndi-
lures of the United States Government
for the year. They drew this volume or
commodities from mines and farms, man
ufacturing plants and packing houses
orders for goods were more plentiful
because OF the export demand than they
would have been had the producers of raw
materials and manufactured goods had
to depend entirely upon domestic de-
mand.
Wheels of factories and mills that
otherwise would have been idle were
kept turning and this tended to check
unemployment and create thousands OF
jobs. Breadstuffs, meats, grain. steel
and steel products, machines. paints, oils,
cotton. copper and host of other COM
modities drawn from every section of
the United States moved by railroad 10
tidewater and were there transferred to
ships for despatch to foreign countries.
A steady stream of gold thus has been
and still is flowing TO the United States
as a result OF the purchase OF volumes
of American goods by foreign buyers
American business men and workers
are reaping the benefits in cash and
credit placed in their names abroad.
sT,522,OOO Exports Daily.
American goods for the twelve months
ended with May went abroad at the
rate OF S.I22.o0 day. including SUM-
days, piling up wealth for their pro-
ducers and exporters In this country.
Large quantities OF exported COM
modities were sold on long credit terms.
showing the return on the sales was
not all not contained in the profit on
the transfer of goods. Interest charges
run high just now in the internatfona
trade field. The interest on the Ameri-
can trade balance at per cent would
be sl29. 10000 year.
Exporting at rate equal to y1s.O0O. 900
day American business men and
manufacturers, II might be expected
would need have little fear OF economic
depression. But the foreign trade sky
Is not altogether clear according TO
officials here. The volume of export
trade built to tremendous proportions
during the great war was certain To
slump after the conflict ended. IL was
freely predicted on every hand. This
slump came and perhaps As not yet
over officials said to-day.
Despite the big total OF exports I'm
the year just ended hundreds of yes
sells OF the United States Shipping Board
were tied up i'm ports In every section
of the United States eating UP money
because of a lack of business to keen
them in commission. The high value
OF the dollar in foreign exchange is
discourag1ng the foreign purchase OF
American goods except those which the
world cannot long do without And
the trade volume may further sIump
during the next few months. n is
warned, unless factors adverse to
American sales are righted.
slump Nearly Ended.
Meanwhile, however. the slump. IL IL
is continuing. is going on in small de-
gree. since the commerce reports show
an export volume Of approximately
s5605 900 n month
During a corresponding period In
1871? the average export month was
s5e1.2oo.OoO. or slightly larger than at
present
Agricultural instruments constituted
big ITEM In the volume of exports
France took s2.44t.000 worth, Italy
more than 100000. Canada, sf,s42.-
900 Argentina. s2,11s.oo0, and British
South Africa. s1.1s1,O0O.
Breadstuffs sold abroad totslled
81 ,003, ,i24,0 900 in value. This included
s5t,i43,000 worth OF corn, $3.50. OoO. 600
worth Of wheat, s143.4e7.00O worth Of
wheat flour and S2i,00O.Oo0 worth OF
barley. italy alone took more than s12.-
100000 worth Of wheat while the United
Kingdom purchased at the rate of
s20s, $4,000. Among other wheat Gus
toners were Belgium. Germany, which
spent nearly $4,000. 900 France. Glib
raltar. Greece, the Netherlands Norway
and Switzerland.
Automobiles airplanes and other We
hicles were sold for export TO n total Of
1851, 900. OF this approximately
st02. 00o. 900 was represented bx passen-
ger cars, which went TO England. Brazil,
Straits Settlements. Dutch East Indies
Japan. China. Sweden. Spain and a
score Of other countries. Australia pur-
chased e,2l5 passenger automobiles val
ued Mt s7.1il.422 England s.179 cars
worth se.20e.o00, and Japan more than
81 900. 900 worth.
American made motorcycles seem un-
usually popul1r abfcs sd. since more than
$4,000 we're exported during the year
for $1,000, 900.
\ Dyes. little Of which were nanusac-