Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1922-10-26
BUSINESS WITH
FEW EXCEPTIONS
ON THE UPGRADE
Conditions in Most Countries
the World Over Are I'M
proving, Klein Tells Ex-
port Association.

New York, Oct. 25.-Business in
/ Europe, Latin-America and the
Far East is steadily on tho upgrade,
and, with few exceptions, is bet
ter the world over, delegates to the
convention of the Manufacturers
/ Export association, were told to-
day by Or. julius Klein, director
of the United States bureau of for
eign and domestic commerce.
The convention which opened to-
day, will continue through tomor-
row.
Conditions almost everywhere
show DECIDED improvement" DIR.
Klein declared, I'm the Orient,
conditions are better now than
they have been at any time since
1920. Japan is putting herself
out of the slough of economic de-
preston ana business in China is
getting better
Imports Increasing,
China's recovery. he added,
would be aided as the foreign de-
mand for that country's products
improved and the strain on Chi
nese purchasing power is relaxed.
Australian and New Zealand Woe
and wheat accumulatiOns arc be-
ing liquidated at favorable prices
and imports are increasing, he as
serted. A.
Business is picking up in we9tern
Europe at a rate varying il diifer-
ent countries" Klein said. DC
flation has run its course stocks
have been reduced and merchants
have taken their losses. labor has
taken it's cut and has shc|n n
pronounced tendency to cooper
ate. Production. always the fun
damental basis of economic devel-
opment is increasing throughout
the entire area.
"Since 1921 the balance OF trade
in the United Kingdom has shown
an astonishing recovery towards
its normal status; that OF France Is
actually showing an excess OF eX-
ports over imports, While italy S
unfavorablc balance has been cut
to a remarkable degree. Ger
many's financial and monetary up
heaval, has of course, continued to
retard the sterilization Of her trade
position.
Eastern Europe,
Eastern Europe, apart nom
Russia. is in general, reco ys"'ng
gradually from the ravaSc5 of war
and should offer increasing oppcr-
tunities for American trade and
investments.
"At present the disturbed politi-
cal condition in the Leyant inter
feres seriously with trade with
that region. though it win behoov'
American exporters to put fortf
all possible effort to hold their po
, sition in this field as soon as con
ditions become more stable.
, american trade with Latin
: American countries for the first
eight months of the present yeal
: was eight per cent more in value
than for all of the fiscal year 1913
: IA.
"The sound banking condition OF
Argentina, which is making the
most rapid progress back to bet
ter times of all the Latin-Ameri-
, can countries, has been strong
contributory factor in the condi'
tion. An amazing change for the
better has been witnessed in Chlle
during the last few months, due
principally to the movement or hi
trateS.
Cuba'S Sugar Crop.
"Sale of the bumper sugar croI
In Cuba at prices which permitted
= a profit has encouraged a revival OF
purchasing throughout the island
"The large stocks of merchan-
disc held in bonded warehouses IN
| Havana have been very materially
= reduced by transportation and To-
cal consumption. The first CLEAN
of optimism in the Mexican situa-
J tion was evidenced during Septen-
ber, due largely TO congressional
| action on the de la Huerta-Lamont
agreement"