The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1924-04-29

1 OF the calendar year, LOgeLner
with systematic restriction of
imports, left a substantial favor
able balance of trade beyond
question, whether valued at pre-
war or at current prices.
The valuation of all imports and
exports in gold rubles at pre-war
market prices had been rendered
necessary because the rapidly depre-
ciating Soviet currency furnished no
stable medium for calculation and
comparison.
Imports for the calendar year 1923,
figured at the 1913 prices, were valued
at 100000 rubles, against exports
of 2O5,S0O,OOO rubles, giving a favor
able balance of 59,7OO,OOO rubles. On
the basis of approximate current
prices instead Of 1918 prices, exports
total 3O7,30O,000 rubles and imports
200, 100000 rubles, making the favor
able balance on current-price basis
equal roughly to 107 100000 rubles.
In addition to commercial imports,
famine relief supplies to the value
of 34,400,000 rubles were imported
during the calendar year, as against
similar imports of 1S3,SOO,OOO rubles
during the calendar year 1922.
Favorable Trade Balance Follows
Grain Export Resumption.
The main cause of the favorable
trade balance in 1923 was the re-
sumption of grain exports, which had
practically stopped since the outbreak
Of the World War and which the sat
isfactory crops of 1922 and 1923 made
possible. Total export sales of grain
and fodder of the 1928 crop, con-
cluded prior to January 1, 1924,
amounted to 1,59S,766 long tons, of
which 1,160,570 tons were shipped by
! January /, 1924, and 152,25O tons were
loading at ports on that date.
OF the above grand total, S13,640
tons were rye, 3S2,110 tons wheat,
1S6,452 tons barley, and 1858 tons
oats, and the rest being represented
by oil cake, corn, and other cereals.
Exports of rye represented an in
crease of 20 per cent over their pre-
war average, while those of wheat
amounted to but nine per cent of pre-
war average.
Sales were distributed among if
teen European countries, the chief
purchaser being Germany, 471,266
tons; Netherlands, 2S5,544 tons:
France, 1S0,743 tons; Finland, 100 ITS
tons; Denmark. 1851 tons; and
Italy, 1856 tons. Export sales to the
United Kingdom amounted to only
32,739 tons.
Shifts in Trade Values, Composition,
and Markets.
Compared with the calendar year
1922, the value of exports Calculated
at 1913 prices) increased more than
two and one-half times, and more
than tenfold in comparison with 1921,
while imports fell off by one-half and
by one-third, respectively. Imports
also underwent change in compost.
ton.
Whereas over one-third Of the i'm.
ports of 1922 consisted Of foodstufs
Exclusive of contributed famine re
lief supplies), imports Of foodstuffs in
1928 amounted to IA per cent OF
total.
In 1922 imports of raw materials
and semi-manufactured products rep
resented only LAG per cent of the
total, whereas in 1928 this group &C
counted for 44.2 per cent of the total
At the same time exports showed {
corresponding shift for the group o.
foodstuffs from 5.3 per cent in 1872.
to 56.S per cent in 1923; for raw ma
terials and semi-finished goods, from
9O.S per cent to 42.4 per cent of the
total. The general distribution Of
Russian exports in 1928 by groups o.
commodities is thus found to be close
ly approaching that Of 1918, wher
foodstuffs accounted for 52.2 per cent
OF total exports and raw materials
and semi-finished goods accounted fol
1853 per cent, these two groups com
prising the bulk of Russian exports
This similarity is extended further
TO the two principal markets Of Rus
sian foreign trade, Germany and the
United Kingdom. In 1918 these two
: countries accounted for COL per cent
Z OF Russian total imports, and 47.4
J per cent OF total exports; in 1923
their share was 60 and 44.2 per cent
respectively.
; The total foreign trade OF Russia
in 1928, calculated at 1913 prices
amounted 10 but 1871 per cent Of total
exports and imports for 1918.
Government Monopoly Of Foreign
Trade Firmly Maintained.
The government monopoly Of for
eign trade was firmly maintained dur
ing the year. According to data FOL
the operating year 1929 Sovie
state institutions. including govern