The Washington times., 1922-12-24
Doubles Previous Mark, Ac.
cording to Reports Of the
Federal Reserve Board
LuxuREs IN BIG DEMAND
Volume Of Sales Regarded as
Indication Of Prosperity
In All Lines Of Industry
BY w. H. ATKINS,
International News Service.


This is q $4,000, ,0O0, 900 Christ
mas in the United States. 1t
breaks all previous records.
After a survey of all business
barometers, bank clearings, postal
receipts, Federal Reserve Board
reports, ETC., officials Of the Gov
ernment's trade and financial
bureaus made this estimate last
night of the American Christmas
bill for Iceland called 1t con-
servative.
COSTLIEST IN HISTORY.
The turnover, all authorities
agreed. has been tremendous. In
the past. according to officials.
Americas annual Christmas bill
has run between $4,000. 900 and
$4,000. 900 900, and figuring out the
percentage increases as reflected In
official reports on bank clearings
and postal receipts, officials arrived
at the conclusion that this has
been the costliest Christmas in his
tory for America.
Postmaster General Work report
ed the heaviest volume OF Christ
mas mail ever recorded by the Post
office Department.
Postmasters of fifty cities, having
largest postoffices, reported by teie'
graph that the crush OF holiday
gifts sent through parcel post
showed increases ranging from lo
TO SO per cent over preceding years.
HUGE BANK CLEARINGS.
In New York City. largest office In
the United States, where holiday
buying was estimated at more than
$3.50, ,OO0, 900, postal receipts gained
e275,0O0 over last Christmas season.
The Chicago postoffice reported AZ
per cent increase in volume OF mail,
and 32 per cent increase I'm parcel
most business. Philadelphia handled
rs per cent more postal business ana
an increase of "a per cent In parcel
post packages.
Banking reports, gathered by Gov
ernment agents, reflected the quick
est turnover of merch. ndise stocks.
by both retailers and wholesalers, In
the country's history.
Officials of the Federal Reserve
Board declared Americas most ex-
pensive Christmas is due to many
encouraging business factors. Labor
Is fully. employed this season, while
last season and in other years i'm
mediately following the post-war0e-
preston, money was tight. hundreds
of thousands of laborers were idle,
and farmers and other vital elements
In the nations industrial fabric,
were cramped in the era of deflation.
The Federal Reserve Board said
q significant fact is the better con-
dition of the farmer this year.
81 SOC, 100000 higher values on this
years output and greatly extended
credit facilities.
The farmers buying power has
been increased measurably by his
Improved credit position at the
banks, due in a degree to the ad-
vanced steps taken by the Gov
ernment to put him on a footing
with other Industries in credit
liberality.
LUXURIES SELL HEAVILY.
Bank agents reported Christmas
buyers bought heavily of luxuries.
Goods that are less useful or neces-
ary were in minor demand. lew
elry, precious stones. pearls and
other costly, ornaments were sold
heavily.
The Treasury revenues will be
swelled by the increased volume Of
cash poured into the hands Of mer-
chants. Postal receipts, in increas-
ing totals, will help cut the deficit
In that branch of Government ac-
tivity. The Internal Revenue Bu-
reau said reports of revenue collec-
tors on December business would
reveal a record-smashing return Of
taxes by dealers and manufacturers,
who are compelled to return a GER.
tain percentage of tax to the Gov.
ernment on all sales of q long list
of the most costly items which
made up the holiday buying bill.
Copyright, 1920