Evening star., 1922-12-29
NAT|0NENDSB BIC
YEAR OF PROGRESS
Commerce Department Re-
view Sees Cause for Opti-
mism Over Future.
MORE WORK, PRODUCTION
Trade Depressed by Conditions
Abroad. But Relief Is Al
ready Manifest.
MORE WORK, PRODUCTION

Stocktaking of the nations domes-
TIC business for the past year gives
"a feeling of satisfact ion as 10 the
progress made the Department of
Commerce declares today in an end
of-the-year statement, and from this
days position. II added. there are no
serious obstacles in sight which
should hinder further advances" in
the carly new year.
Optimism, borr of the accomplish
ments of the past months. which many
officials of the government regard as
remarkable Strengthening of the
economic fabric. is evident through
out the statistics and details of the
statement. which noted that the pro-
duction of manufactured ccmmodi-
ties averaged so per cent larger than
in 1921. The farmer received approx
mately Il per cent more for his prod
ucts than in 1921. and the total vol
umc of agricultural products was
worth much greater sum than was
that of a year ago.
The unsettled conditions in for
eign countries. particularly in Europe.
however. the statement continued,
|, are stIll depressing our trade, and.
to some extent. have no doubt kept
the prices of agricultural products
below the level of other commodities
But within the past two months this
| latter condition has been relieved to
some extent"
No Serious Export Decline.
While dealing only briefly with
foreign trade. the review said that
American exports had dropped Is per
cent as compared with last year. but
the comparison was on basis of
eleven months. ana, in addition. rep
resented a long climb" from a poor
start. according TO officials Imports
to September -. when the new tariff
law was effective. were slightly above
! last year. and indica tions are. it was
stated unofficially. that the years
total may exceed last years imports
by a small margin.
The total volume of building. ordi-
| narily a measure Of the country's
business health. was 50 per cent
larger in the first eleven months of
this year than In the same period
made that the full years record will
exceed that of 1919. The 1929 con-
tracts for eleven months also repre-
sented q much greater expenditure of
money than for the full year of 1921,
| it was said.
There was genuine swell in the
volume of general trade, according to
the summary. which mentioned a 6
per cent greater sale by mail order
houses and Is per cent increase in
business by chain stores as indicative
! of the business tide. declines appear
ing only in isolated lines.
Increase OF Production.
Increases in production with the re-
duction of immigration was said to
have taken care of the unemployment
situation and labor shortages were
reported in many localities. although
this condition was not general. 1t
was added. however, that work ap-
peared to be waiting for most labor
ers who sought it.
The years progress was reported
to have changed a huge surplus of
freight cars into a shortage. This
shortage was general. it was stated.
despite a lower percentage of cars
under repair than in many months.
Freight movements, however. were
described generally as satisfactory.
One of the chief benefits derived by
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