The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1922-01-02
HEAVY Loss IN Il
I'm STATED VALUE
OF FOREIGN TRADE
Greatest Percentage of
Reduction Ever Shown,
Says Report.
TOTAL ESTIMATE 1870
Aggregate of 1921 Trade Is
Estimated at Slightly Less
Than 81, 600, 100000.
TOTAL ESTIMATE 49,


United States in the calendar year
1921 show, a heavy reduction in
their stated value of the merchan-
disc entering and leaving the coun-
try. In no single year in the his
tory of our foreign trade. says the
Trade Record of the National City
Bank of New York, have the Official
figures shown such a percentage
of reduction. The total foreign
trade of the country, imports and
exports combined, stood at sl3,50O,-
100000 in the calendar year. 1920,
the highest total ever reached, and
eleven months figures ending with
November, 1921. Justify the asser-
ton that the total for the full year
just ending will not exceed $1,000
100000. and will probably fall
little below that total as against
sl3 500, 900, 900 one year earlier.
Total Reduction 4s Per Cent.
The reduction in the total values
of the merchandise entering and
leaving the country in 1921 will be
about IS per cent: in imports the
reduction will be approximately So
-
This fall off in the values of the
foreign trade in 1921, when com
pared with 1920, extends to every
great group of articles, both in i'm
ports and exports. Raw manufac-
turing material imported shows
fall off of about So per, cent in total
values; foodstuffs IS per cent. and
manufactures IS per cent, these hg-
ures being, of course, in very round
terms. the smaller reduction in
manufactures in anticipation of
higher tariff. On the export side.
manufacturing material shows a
fall of As per cent, foodstuffs SO
per cent, and manufactures OIL per
cent, these figures as to exports
being also necessarily in very
round TERMS
Foreign Imports.
Considering the trade of the
country with the grand divisions,
imports from Europe show fall Of
IS per cent. from North America 81
per cent, from South America 81
per cent, and from Asia and Ocean
ia So per cent. Exports to Europe
show a decline of As per cent, to
North America 40 per cent, to South
America 56 per cent, and to Asia
and Oceania 80 per cent.
The general causes OF this tre-
mendous decline in the value of
every group of articles imported or
exported and also a reduction IN
the trade with every grand division
of the world. lie primarily, says
the banks statement, in the fact
that the prices per unit OF quantity
are in most of the important ar
ticles less than half those of a year
ago and that in many instances a
given quantity of merchandise be-
ing now imported is valued at less
than half that at the same date
last year. Our biggest imports are,
of course, in manufacturing ma
terials, India rubber, hides and
skins, wool, raw silk, raw cotton.
fibers. and tin. The rubber import
ed in October, 1921, entered at IA
cents per pound against 81 cent.
in the same month of last year:
cattle hides at 10ls cents a pound
against % cents; carding wool at
IA cents a pound against 40 cents
a year ago: combing wool in Sep
TENDER, 1921 Ono imports in Oc-
tober) at % cents per pound
against SIS cents one year earlier:
raw cotton in September 16i: cents
against 54h cents in September Of
the preceding year: tin 27lz cents a
pound against 80 cents a year earl
Ter; Manila hemp s135 per ton
against 1910 one year earlier: the
only important manufacturing ma
terial which has failed to show n
big fall off being raw silk. Il.
foodstuffs conditions are similar,
the sugar imports of October, 1921,
averaging 2.S cents per pound,
against 1879 cents in October of the
preceding year, while in other ar
ticles Of food there Is a material
reduction, but none as great as that
of sugar which, by the way, is the
biggest single article Of foodstuffs
imported.