The Washington herald., 1922-07-02
BRAZILIAN TRADE
CONDITIONS AGAIN
SHOW BETTER TONE
Exchange Holds Steady;
Cotton and Sugar
Stocks Reduced.

A striking phase Of Brazilian ac-
tivity during the past month IL
noted In It's accomplishments in the
way Of important legislation. states
Commercial Attache schurs In q
cable to the Department OF Com
merce. The outcome Of the much
disputed presidential election was
decided by Congressional declaration
in favor OF DIR. Bernardes. the s25.-
100000 Federal loan for the electri-
fieation Of the Central OF Brasil
Railway was authorised and the
long-pending permanent vaiorixa-
ton plan approved. The latter car
ries with II the establishment OF
funds to the amount of s3o0. 100000
milreis (present value OF milreis
in U. s. currency about $o.14). The
signing of the Federal budget Of ex-
penditures Ii aso expected within
a few days.
Customs Receipts Decline.
Customs receipts at Rio de ia
neiro and Santos continue to de-
cline. thus reflecting the prevailing
caution of the activities Of the Inn
port market. Exchange on the
other hand remained steady, the av-
erage sight rate for the four weeks
ending June IT being 1886. with
the tendency to 90 lower. BY June
20, the milreis had reached TOO.
Import and Export Markets.
Exchange. which for over a year
has been the basic factor operating
against large scale buying. Is more
than ever the controlling influence,
for there can be no doubt that the
market has reached a point of de-
pletion of stocks in most lines
where buying will shortly be neces-
sary to satisfy current orders Of the
local trade. As yet. however. i'm
provement is slow and buying IL
still restricted to immediate needs.
Notable exceptions are iron and
steel and automobiles In both of
which lines good orders are being
taken. Exports on the other hand
show distinct Improvement. The to-
tai Brazilian exports for the period
Of January to April. inclusive, were
valued at Tls.411,0 900 milreis for 1922
as against 4ss.75s.ooo miireis for the
same period of 1921 and ss2.37s.0 900
milreis for 1920, while the imports
for the same periods amounted to
447.26s.o0o milreis for 1922, against
1921, 900 milreis for 1921 and 423,-
$4,000 milreis for 1920.
Export stocks on Hand.
One June 21. there were 372,1s1
bags OF sugar and 1880 bales of
cotton in Pernambuco and Rio de
Janeiro. as compared with 545,ss2
bags of sugar and 27.457 bales OF
rgn ho
of sugar and 32.920 bales of cotton
on April 10. The sugar market has
been steadier and considerable i'm
provement Is noted IN cotton prices.
Coffee stocks at Santos and Rio de
Janeiro on June 81, amounted asst
355 bags and 1.S1s,l74 bags. re-
spectively.
Shipping Conditions Unchanged.
There is no change in the shipping
market. which continues greatly de-
pressed. The Munson line carried
3S7.st2 bags. against 3s7,7s5 bags
carried by the Lamport & Holt line
during the FIRST half OF the 1e21-22
crop The Lloyd Brasilelre carried
6s6. 75e bags to tho United States dur
ing the same period.
The reduced passenger fares be-
tween the United States and Brazil
are already resulting in increased
travel. The Royal Mail has also an
nounced a cut in fares In Its ID" boats
which ply between England and South
America. The arrival of the "Giulio
Cesare," OF the italian Navegaz.one
line was one OF the features of the
month of May in steamship circles.
This Is the finest vessel now plying be-
tween Europe and Brazil. II dis
places 80. 900 tons and makes the trip
from Genoa to Rio de Janeiro in
eleven days.
Building Active.
The unusual building and con-
struction activity in Rio de Janeiro
and Sac Paulo continues undim-
ished and considerable building Ia
also reported TO be going on in
Santos and Pernaumbuco. Due to
this activity and to the fact that
most factories are now operating
on a normal basis there is little
unemployment in Brazil. the ten
dency being rather towards
scarcity of laborers in some lines.
There Is also a distinct tendency
towards wage increases, the wages
being paid for ordinary unskilled
labor on the MORO de CASTILLO
work. milreis a day, being prob
ably unprecedented. 1t Is noted,
however, that the cost of certain
necessities, especially meat, has
risen.
Another factor affecting the
labor situation Is the scarcity OF
immigrants. Despite the declared
purpose of the federal government
to stimulate foreign immigration,
the movement of immigrants from
Europe Is still very inadequate.
Moreover, with the exception of
Sac Paulo, which. maintains an in
dependent colonization propaganda