Evening star., 1924-03-17
UPTURN IN FRANCS
AIDS WORLD TRADE
u. S., However, Has Been
Dealing in Terms of Dollars.
War on Price Control.
By J. c. R0YLE.
Special Dispatch to The Star.

Special Dispatch to The Star.
NEW YORK, March 17.-The appar-
ent rout of the bears on the franc"
and the recovery of French exchange
undoubtedly has promoted a better
feeling in business circles concerned
with foreign trade. The effect on
American business. however, has been
largely psychological, since dealings
with France since the recent uncer-
tain state of French exchange has
been largely In Terms Of pounds and
dollars. American business men
simply followed the same course they
pursued in the case of Russia, Ger
rencies of which became subject TO
wide and sudden fluctuations. and
conducted negotiations in dollars.
There still exists some doubt in
financial circles here as to whether
the franc situation has finally been
stabilized by the arrangement OF
large credits here and in London, but
this is not expected vitally to affect
exports or imports.
Foreign Trade Satisfactory.
The satisfactory state OF foreign
trade is shown by the fact that in
the last twelve months American ex-
ports amounted to $4.167.s4s.o00. a
1922. In the same time imports in
creased $4,000, 900 TO 3.7s1.93s, 900.
This export increase is accounted for
more by the better demand for man
ufactured products than for raw ma
rerials. The wheat movement, for
example. has been small and the ex-
port of food and breadstuffs in the
last year has amounted to only per
cent of the whole, as compared with
u per cent for the previous year.
Cotton exports, however, have been
exceedingly heavy.
The lack OF influence of the fluc-
tuationS OF tho franc on trade has
not been an isolated case in the sit
uation. Argentina's currency is in
a deprecated position. yet exports
to that country from the United
States have Improved by at least
sfo.o00,s00 in the last year
The goods shipped to Germany in
the last year also have bulked large
in comparison with other annual
periods in spite OF the wild iuctua-
tion of the. mark last autumn. Clearly
foreign trade of this country is af-
fected to a large extent by other
influences and considerations than
currency fluctuations. and exporters
and importers declared today that =
would continue throughout the year
regardless OF such disturbances.
Much greater satisfaction was ex-
pressed in manufacturing circles to-
Commerce Hoover had found but ten
minor commodities the price OF which
is controlled by foreign influences
than over the fact that he advocated
Legislative measures to enable the
American consumers TO fight such
control The commodities listed by
the Secretary as in control of foreign
combinations includes sisals. nitrstes.
i iodine. potash, rubber, quinine, tin,
, mercury, coffee and quebracho.
No Sisnl Offered for Export.
With regard to sisal, tpine manu-
has been more seriously affected by
the revolutionary disturbances and
the communistic tendencies in Yuca
tan than by governmental monopoly.
No sisal has been offered for export
for the last six weeks, although it is
expected that normal conditions will
return with the occupation OF Yuea-
tan by government troops. Eitrates,
iodine and potash undoubtedly are un-
der control Of foreign influences. but
the fact remains that fertilizer plants
in this country are not finding de-
mand sufficient to enable them to run
full time even If they were able to
overcome this foreign influence on
prices.
Government investigation under
taken following an urgent demand by
Harvey Firestone. tire manufactures.
indicated no immediate possibility of
recapturing the crude rubber market
from the hands Of the British ano
Dutch planters in the orient, but the
price Of the material now is well be-
low the high points of 1928.
Steel men insist that tin is anected
far more by the demands OF the Amer
lean Gamers than by foreign monop-
oily OF production, and the Importance
Of quicksilver has declined material
" as a result of improvement in the
methods of treating ores and minerals.
CoRee Control Limited.
Quebracho for tanning purposes is
under foreign control, but American
tanners now have on hand terrific
stocks of leather which they are
striving with every effort to move
into distribution with only partial
success. ouinine monopoly is not 9.
large factor In the foreign trade OF
this country, and the extent to which
the government OF Brazil can control
coffee prices is limited. according tc
importers, by the condition Of the CROP
and the facility with which the South
American government can secure for
eign loans.