The Washington times., 1924-11-17
HUGE GAINS
HEADED BY
FARMS
Sterilization Of Germany
Brings Big Jump IN Foreign
Trade, He Says
By ROBERT s. THORNBURGH.
international News Service.

By ROBERT s. THORNBURGH,
international News Service.
Business prospects for 1925 are
indicative Of q highly prosperous
year, judging from the "signs Of
the times" as interpreted by Sec
rotary Of Commerce Hoover in an
excerpt from his annual report to
Congress made public today.
Hoover's review Of conditions
referred chiefly to the fiscal year
ending July /, 1924, but he took
! occasion to remark that "some
moderate decreases in activity
during the later part Of the year.
have been followed BY general re-
cOveries.
Among the outstan ling features
Of 1924, according to Hoover, was
the advance in agricultural prices
which had hitherto Jagged be-
hind industry since the slump
of 1920"
Discovery In Europe.
"A second feature Hoover said,
els the beginning Of sound policies
( IN German separations leading to
q hopeful measure OF economic re-
: covery In Europe. Third, the COM
plete recovery Of our own industry
ana commerce aside from agricul,
ture). great stability Of prices, high
production, full employment, ex-
banding foreign trade and prosper
ity throughout the business world.
The general level OF business &C.
ttyity was decidedly higher than In
the 10 called VERY prosperous year
ar 1919" according to Hoover.
Manufacturing production dropped
alightly as compared to 1879. pu.
mineral production rose materially.
Notwithstanding far lower prices
than In 1919. the value OF sales OF
retaiI stores was decidedly greater
n 1924" Hoover continued. Where
there were lower indexes than IN
/ 1910 they may be explained 80
wholly due to the decline in prices.
BASED on the calender year OF 1919
A. 100 the general average ox
wholesale prices dropped from LOU
"a 1923 to $50 In 1924"
Led BY Agriculture.
Discussing a slight slackening IN
J urodI,rtion Al the close Of the
. Heal wear Hoover said that there
WAS recovery In September,
which for manufacturing production
stood 13 points higher than m
June. o,a
s.tha agricultural recovery by Sep
tember had proceeded % poan.
where the wholesale price anasA .
Of farm products WAS I've On w
123 basis, as compared 20 4es Aor
the price Of all commodities, tngs
marking the re.establiahment OF tne
farmers buying power q mucn
more nearly the pre-war ratio.
Many readjustmeDts are neeoeo
yet, but agriculture has turned an
Important corner and this change
marks q vital step in the whole
after.war economic reimbursement.
According to Hoover, the 1873
fiscal year marks the first occa'
! sion since long before the wal
when our railway facilities have
been completely equal TO the de,
n,and of the country He pointed
. out that there had been no serious
car shortage, and that this com,
3 plete reconstruction, expansion and
arowing efficiency in transporta
don facilities marks q fine accom-
plishment on the part Of our rail-
4 way management.
Vast Trade increase.
'Thsre IL still requirement for ex
> tension Of terminals and readtust
Z ment OF rates. he declared. "Thert
are large consultations needed f0I
the ultimate best service and sound
finance"
OF the Dawes plan in Europe
Hoover said:
Y European sterilization. which thll
/ plan may be expected to achieve
will bring about q revival In WORLD
i trade and increased consumption Of
com modities, in which the Unitet
s States Is bound to have its share
This trade revival and Increased con
sumption power should outweigh any
increased competitive power which
might be expected from tho exhcu
tion Of the plan"
Foreign trade grew from $4,279.
\ 100000 In 1918 to 1886, 900, 900 n
the 1924 fiscal year, Hoover said
The gain in American trade wa
largely accounted for by marked In
creases in business with Asia
Oceania and South America.