Webster City freeman. [volume] (Webster City, Hamilton County, Iowa) 1884-1946, 1921-07-18
us. RADEN0T
FALLING, REPORT
Smaller Figures due to De-
crease in Price Rather
Than in Quantity
Goods.
BANK HAS STATISTICS
Habit of Judging Totals
Gives Wrong I'm
preston.
BANK HAS STATISTICS

The big fall off in figures of United
States trade in the closing months of
the fiscal year just ended is due in
much larger degree to fall in prices
Of the various articles forming the
grand total than in quantity imported
and exported. While it is fact that
there is a material reduction in guam
tity of merchandise being moved into
and out of the United States, the big
fall in world prices is really the largest
factor in the astonishing reduction in
our figures Of total imports and total
exports as measured by values.
We are accustomed, says statement
by The National City Bank of New
York, to measure our imports and ex-
ports by the figures of total value, and
when we see that the total value Of
imports in May, the latest month for
which figures are available, was only
$2O5, 100000 against $431 100000 in the
same month of last year, we involun-
tarily assume that the import trade
has fallen off One-half," and when we
also see that the exports of May were
only $3.50, 100000 against $746,OOO.O0O
in May of last year, we again assume
that our trade has been reduced by
0,s.1f Dat t1,r fnf.% iSs hat
a very large proportion of these reduc-
tiOns in the aggregate value Of all ar
ticles imported or all articles exported
is due in much greater degree to lower
prices than to reduced quantities.
Cotton as Example.
Just as an illustration, adds the
Banks statement, it may be remarked
that while the official figures of raw
cotton imported in May, 1921 do show
a reduction of 33 per cent in quantity
as compared with May, 1920, the fig
ures Of value for the same month show
a fall of 81 per cent. Fibers, another
important article in our industries.
show a decrease of u per cent in
quantity imported in May, 1921 as
compared with the same month of last
year, but the decrease in value for the
same period is per cent. Hides show
a reduction in quantity Of % per cent
when compared with May of last year.
but the reduction in value for the same
period is per cent, that is comparing
figures Of quantity and value in May.
1921 with those of May. 1920. In
rubber the fall off is Al per cent in
quantity but Is per cent in value.
Silk Situation Cited.
A further evidence that the reduc
ton in total values is misleading in
any attempt to measure tho reduction,
or otherwise, of quantity moved, is
found in the fact that In the ease of
raw silk there was in May. 1921. an
actual increase of Is per cent in guam
tity imported as compared with May
OF tne pTeteuiiS NSdi' put u oSNAS"''
of 4 per cent in value, while in the
matter of wool imported, there is an
increase of 10 per cent in quantity
imported in May, 1921. as compa: red
with May. 1920. but decrease of 5S
per cent in value, due of course to the
fall in the price per po nj
Of raw wool.
On the export side conditions are
very similar. The cotton sent out OF
the country in May. 1921. shows an ac-
tual increase of 33 per cent in the num-
ber Of pounds exported. but decrease
Of 81 per cent in value. when compar-
ing May, 1921 with May, 1920. Hum
mating oil shows for May, 1921. a de-
crease of o per cent in quantity, and
40 per cent in value. Boots and shoes
show fall Of n per cent i'll quantity
and - per cent i'll value. and locomo-
tives reduction of % per cent in
number, and IS per cent in value. All
of the above figures showing the rcla-
tive figures in quantity and value are
based upon data drawn from the Of
ficial publications of the Department
of Commerce.