The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1925-07-17
LITTLE BASIS
FOR BUSINESS
KICK : HOOVER
Commerce Secretary Sums
Up 1924 Conditions in
New Year Book.

BIZ Times Special
WASHINGTON, July 17.-Review-
ing business conditions during 1924,
Secretary of Commerce Hoover, In
the foreword of the new Department
of Commerce yearbook released to-
day, says:
THE American people have little
right to complain about our economic
situation during the year 1924. Even
agriculture has shown some partial
recovery from it's three years of ex-
trmee difficulty. Our industrial
production was only about per cent
less than in 1928, which was the
record year in the history of the
nation, but was 10 per cent greater
than in 1919. There was practically
no unemployment in a distressing
sense. the midsummer decrease in
activity showing itself to consider
able extent in part time work. There
was no boom under way in 1928, and
therefore the minor decrease in pro-
duction in 1924 was the result of
very short recession during the
spring and summer months.
Transportation showed increasing
efficiency and it's very efficiency has
resulted in a mild revolution In dis
tribution of goods. Under assured de-
livery, long advance orders to manu-
facturers are becoming less in vol
ume, thus tending to reduce the
capital invested in current national
stocks of good and consequently the
cost of ClistrihIItiOn
Room for Improvement
Building and other construction
in 1924 showed an even larger
volume than in 1928, registering the
highest total in our history. While it
seems that the constructor short
age resulting from suspension during
the wsr should be overtaken by this
time, yet the rising standards Of
living are demanding Improvement
in housing and office conditions
which maintain the industry az
high pitch.
1.-THE Shipping industry shows
some Improvement in 1924, although
it has not yet reached q basis of
stability. The textile industries ex-
perienced mere inactivity than
other manufacturing industries. The
luminous coal industry is in great
difficulties due to complex causes,
partly the hold-over from excessive
expansion during the war. But
generally we have but few difficulties
remaining which can be attributed
TO the effect of the war.
Agriculture has been blessed with
a shift in prices for the better,
probably in a large way at least re-
fecting the fact that while the num-
Der Of farmers in the United tSates
has remained constant since. 1914,
the consumers have increased great
ly. Wheat prices were no DOUBT
helped by the subnormal crops
abroad and corn prices by crop
failures in certain States. By and
large, the average price of all agri-
cultural produce now approximates
the general level OF commodity
prices. Some farm products, par
ticularly cattle, are still below the
normal relationship with other COM
modities, but the shift is constantly
in the direction of equality and gives
hope for still better conditions for
agriculture.
Our foreign trade for the year
shows an increase over 1923 of 10
per cent in exports at $4,591 900, 900
and a decrease of per cent in inl-
ports at 1851, 100000. The most
permanently significant change in
our export movement was an in
crease of TX per cent in man
ufactured goods as compared with
the previous year. Our merchandise
exports exceeded our imports by
$980,O0O,00O.