, 1923-10-03
Oriental Trade

The trade of the United States with Oceania
and the Orient, or Asia has increased nearly 30
per cent in a decade, or from $3.50, 1000 in
1914 TO Sl,621 100000 in the fiscal year ended in
June. Trade from the Asiatic division in
creased from $400, 10000 to 81, 433, 100000; with
oceania which includes Australia and New Zea-
land, from $125, 100000 to $194, 900, OOO. For the
fiscal year the trade comprises q per cent of
our trade with all the world.
AS is the case with the Latin Americas, with
whom we bought and sold to the tune of 81, 6S4,-
600 worth of goods from Oceania in 1914, and
purchases from Asia and Oceania consists of
crude Materials, while the bulk of our sales to
those divisions consists of manufactured goods.
There is, however, considerable competition in
our market with the manufacturers from Japan,
emma and India, while Australia and New Yea
land run us a good race in wool, meats, and what
may generally be termed animal products.
Considered separately, we imported $4,000
OOO worth of goods from Oceania in 1914, and
exported $Sf,OOO,OO0 to that division. La 1922
the figures were $31, 100000 imports from and
$S4, 100000 exports to. In 1923 they were $72,-
oOO,OOO and $l22,OOO,OOO, respectively, a large gain
over the other two years mentioned. About
10 per cent of the trade is with Australia alone.
Our Asiatic trade for 1914 showed imports
from $2S7,OOO,OO0, exports to $113, 900, 900; for
1922, imports from sos, 000, 900; exports to $780,
100000; for 1923, imports from 1896, 900, 900;
exports to $437, 900, 0O0. In this Asiatic trade
Japan ranks first. Last year we imported
$3I2,oOO,OOO worth of goods from that country
and sold her $213,000,0 900 worth. As in 1899.
nearly 80 per cent of our exports from Japan
consists of raw silk. "In 1922" says the De
partment of Commerce, Japan was Americas
fifth largest customer, and second only to the
British Empire as a supplier of raw materials,
mostly silk, for manufacture. Sixty-five per
cent OF Japans imports from the United States
in 1922 were distributed among seven items
raw cotton, 30 per cent; iron bars, rods, plates.
sheets and wire - per cent; lumber 0 per cent;
machinery and parts . per cent; construction
materials : per cent; kerosene . per cent; iron
pipes and tubes 1 per cent" Eightynine per
cent of Japan's exports to the United States in
l922 were distributed among seven articles
raw SILK 50 per cent; silk textiles 4 per cent;
tea = per cent; potteries, straw braid, camphor.
canned and bottled goods, each l per cent. Prac.
ically the same ratios were maintained in 1923.
Next in the trade of Asia, on the import side
of the ledger, came the British East Indies.
from which we imported nearly $2SS 900. 600
worth of goods last year, selling them 36,0OO,0 900
WORKMAN opportunity for trade PROSECUTING
there. Included in the imports we're $37, 600, 900
worth of tin from the Straits Settlements and
Sll3,OO0,000 worth of crude rubber from Ceylon,
Malaga and Sumatra.
China comes next in the trade, with $4,000.
900 imports from and $97,000,000 exports to that
country in 1923. American capital invested in
China to take advantage of cheap Chinese labor
in manufacture has been extraordinarily great
in the last decade, and continues to increase.
The Department of Commerce and several
trade organizations have strongly recommended
the establishment of n huge entrepot at Manila,
Philippine Islands to advance our trade inter,
ests in the Orient and Oceania. It is under.
stood President Harding had the matter under
consideration but his untimely death passed the
question TO President Coolidge. Next to the
pansion.