Indiana daily times. [volume] (Indianapolis [Ind.]) 1914-1922, 1921-09-20
FARM PRODUCTS
SAFEGUARDS TO
EXPORTS OF U. S.,
World Helped by Foodstuffs
and Oils From Western
Land.
COAL PRICES ARE HIGH
and Philadelphia Public Ledger.
Special to Indiana Daily Times
BY c. b. EVANS.


CHICAGO, Sept 2O.-In the service by
the West of nutrition to the world from
it's farm lands, and of heat and many
other necessary elements in life from the
oil wells, one finds just now some inter
esting peculIarities. The sorely tried
countries of Europe may congratulate
themselves on getting these things az
much lower figures than last year.
Wheat has fallen almost one half, corn
in about the same ratio, oats in pro-
portion of say 20 TO 40, lard 40 per cent,
and mess pork 80 per cent. 1t is then
found that, while the exports of bread
stuffs in the latest full month reported,
that is August, declined in value, they
increased immensely in quantity.
The quantity measurement is one TINT
the casual observer slides over altogether
too easily, the balance of trade, of course,
being reCkoned in dollars and the status
of trade between this country and otsc
ers measured in that unit.
The experts of wheat In August of
this year were more than double those
of the August, 1920, figures, exceeding
fifty eight million bushels. while the corn
movement, reaching IS, 651 $50 bushels,
was seventeen times as large as In August
1920. The amount of money paid for
the wheat was but slightly in excess OF
that of last year.
OF bacon one finds the amount ex-
ported about double last years record, Of
hams and shoulders three times last
years record and the same nearly true
of lard, while the quantity of cleo oil
has risen go per cent The quantity
of rice as between the two months was
multiplied by six and the cost only dou-
bled. The amount Of cotton shipped Au-
gust this year was more than three times
a big In August, 1921, but here cost
increased little.
In respect to the major cost Of these
major articles to other countries we are
gaining something in the direction Of
abating the large balance Of trade in our
favor, which has been so excessive in the
past as to disturb the commerce Of the
world greatly. Last month our trade
balance was nearly half paid by the i'm
ports Of gold. Under the regime Of high
prices during and Immediately after the
war those importahons properly were
considered a mere bagatelle compared
with the Indebtedness Of other countries,
to US. We are by no means so far away
from the former conditions as to be Jus
titled in the greatest confidence as to the
righting Of this abnormal international
condition, but certain progress is being
made and this country is getting the bulk
Of the output Of gold from the mines OK
the world plus some boards of which
little note has been taken in the past
OF petroleum in its various forms the
tendency was a decline IN exports. but
last month the shipments were more than
100000 gallons of crude against %. co.,
600 last year. the finer oils falling off ma
terially. Some Of those interested in
petroleum in this city express anxiety
az RI ha 1N al l.
being 2700O0,O00 barrels. and rather rap
idly growing, though the total is by no
means so great a. at times during the
war. II assumed here that the large
companies are accommodating this com
modify in the exrecta ton Of a much big
ger demand for ii before long. The Rus
sian supplies appear likely TO be cut Of.
and the British have not yet gone far
enough in the xrloitation of their fields
TO make much imIre ssion Another im9or-
tant consideration is the scarcity and
high price of coal in the West the
present evidence that IL viii n, be In.
creased much. The miners of the bitumi-
nous article are idle most Of the time.
A typical case is that Of a proprietor in
this city who owns FIVE or six mines and
is operating only one of them and that
on part time. Moreover the miners show.
a disposition to stick out for continued
high wages. As to anthracite the house
holder becomes very thoughtful when be
is asked to pay S16 PER ton. The high
figures for coal appear to the oil men
as promising an enlarged field for their
commodity.
The position OF American agricultural
products and its oil industry In tie
world would seem to be a fairly good
stay against :he worriment that many
people have expressed regarding the fu-
ture of our exports. We have about az
near a sure thing on those articles as
one could imagine and as to manufac-.
tured goods We Tuay well hold ourselves
in patience till the international trade is
less distorted than nOw-Copyright, 1921,
hE Pmhlic Ladcer Cnmnanr