The New York herald., 1922-01-01
U.S.EXPORTS IN 1921
8 BILLION DOLLARS
Foreign Commerce Is Now
Ahead of Any Other Com
petitor Nation.
RELIEF FOR JOBLESS
Increase in Trade Abroad
Makes InrOads on Army
of Unemployed.
BIG GAINS IN FAR EAST
Decrease Shown in Total Value
Due to Falling Prices-More
Goods Shipped.
RELIEF FOR JOBLESS
BIG GAINS IN FAR EAST


New York Herald Bureau,
Washington, ID. c., Dec. 81.
American exporters, manufacturers,
farmers and other producers of raw
materials, despite worldwide economic
depression, sold abroad nearly s5.000,-
100000 worth of goods in 1921, or
more than their competitors Of any
other nation.
England until the great war re-
garded as the worlds biggest export
ing nation. sold only $4,000. .0o0, 900
worth of goods in 1921, according to
preliminary reports to the Commerce
Department.
A growing export trade for the
United States means the end of the
nationwide unemployment, officials
say. More than 100000 men and
women retained regular jobs through
out 1921, it is estimated. directly as a
result of foreign sales. The nations
big export business Is gradually re-
ducing unemployment throughout the
United States by keeping busy the
mills and factories of New York State,
New England and the middle West.
American exporters, manufacturers.
farmers and business men now have
approximately s3,00o.o0o,000 "laid UP
abroad against an international rainy
day"
Huge Credit Abroad.
officials OF the Federal Reserve Board
estimate that $4,000. 100000 is the
amount of net credit Americans now are
carrying on their books for foreign
buyers. The estimate, based on a
study OF reports Of all Government de-
partments, indicates the extent to which
private purses of the United States are
financing world trade. 1t represents
the difference between the value OF ex-
ports and imports of goods, and gold
and silver from the United States dur
ing the last two years. The difference
stands to the credit OF American indi-
viduals and concerns. 1t indicates an
annual interest return of Sf50.000.O0O,
which means a steady stream OF goid
toward the pocketbooks OF Americans.
In commodities alone, American ex-
porters piled up a trade balance this
YEAR OF approximately $2.5OO, ,OOO,OOO,
the official reports of the Commerce
Department showed to-day. This means
that this country sold abroad goods
worth that much more than 1t purchased
during 1921. The 1922 trade balance
will be larger, 1t is predicted.
The total of all American sales abroad
for 1921 will amount to more than
$4,000, 900, 600. preliminary estimates OF
the Commerce Department show. The
import total will be about $2,500. 900, 600.
These totals, although smaller than last
year, indicate a growing trade. officials
say. The tonnage of exports Is increas-
ing, although the total value Is decreas-
ing as a result OF the reduction OF prices
OF all commodities.
Orient Trade Increased.
Trade with Oriental countries is in
creasing, while that to Europe is fall
ing off as a result OF world economic
depression. Japan and China are prov
ing the best customers OF the United
states the official figures show. japan
buying steel. railway supplies. ma
chinery and dyes from America is Civ
ing employment to hundreds OF thou
sands OF American workn1en In Pitts
burgh, Chicago and other Industrial GEN.
ters.
Germany despite the extreme depre-
citation OF the mark, is spending almost
as much as before the great war for
American cotton and copper AS re-
suit of n need for American raw ma
terials, the former enemy Power is be-
coming the third best European GUS
toner OF the United States France and
England are the biggest European buy
ers OF American goods Germany has
outdistanced Italy in pouring millions
into American markets At the same
time Germany, despite reports TO the
contrary, Is sending few goods to the
United states.
American workmen in Albany, Syra-
cuse. Rochester. Boston, Pittsburgh, Chi
cago and a score or more cities are being
kept at work 10 supply needs of con-
sumers in England, France and through
out Europe and the Far East. japan.
buying machinery, textiles and dyes, is
afrording work for Americans in Chicago
and the mill cities Of the Eastern and
Southern States. China, in need Of steel
rails and railroad supplies, Is making
work for machinlsts and foundry men In
Pittsburgh Birmingham and Gary.
Handicap I'm Exchange.
Americans selling goods in foreign
territories are handicapped by adverse
exchange rates, which boost prices OF
American commodities: lack Of credit
facilities and by other economic and
business barriers. But despite these
handicaps the Americans are selling ap-
proximately $3.50 worth Of goods to
cnch 81 worth moved by their British
SJfns settors.
IN tne f-ar East American salesmen
are handicapped by having TO make de-
liveries In many instances through
British and Japanese concerns because
there are few American branches and
rrade connections This is especially
true in China, where a very large pro-
portion Of the American goods move
through Hongkong a British port
British colonies and dominions this
year took more than $1,000. 900 900
worth Of American goods. or 20 per
cent. Of our total export value. Canada
took the largest slice OF this trade. but
Australia was not far behind The re-
utindcr was divided among India.
Egypt, New Zealand and South Africa