Evening star., 1925-05-12
j. s. NOW WORLDS
BIGGEST INVESTOR
Hoover's Report Shows Huge
American Investments in
Foreign Lands.
By the Associated Press.

AS a result Of the foreign trade and
financial exchanges of 1924 the sum
of American investments abroad has
been increased by about 81 900 900, 900,
to total in excess of 50 900 100000.
Announcing the figures today in the
third annual report of the Commerce
Department on the visible and invis-
ible" foreign trade of the United
States, Secretary Hoover declared that
"the United States is now the worlds
greatest investor"
Calculations made embraced not
alone the exports and imports of com
modities, the movements of gold and
the expenditure of American tourists,
but the increase in deposits of for
eigners in American banks, estimated
for the year at S216,000, 900; the re-
mittances of immigrants to families
in the old country, which reached the
surprising total of 100000, 900, and
the missionary and charitable eX-
penditures abroad by American re-
ligious and philanthropic individuals,
which accounted for S55. 100000
When the balance was struck the
Nation was shown to have set up a
credit total In 1924 of S5,970,000, 900
for goods and services rendered
abroad, while the countering total of
credits earned in this country by for
arising from the lending of Americans
to foreign borrowers, was S6,l ,0OO.-
900. The difference was largely ac-
counted for by the reports of banks
that foreign borrowers and trades
had left S216.00O.000 on deposit
against future drafts.
Data Held Important.
"The years development gave the
United States a stronger position than
ever in international finance" Mr..
Hoover said. THE increasing impor-
| tance of the invisible items in explain
ing our international trade is shown
by the fact that in 1924 they were
equivalent roughly to 22 per cent Of
our total exports, whereas in the
period between 1895 and 1914 they
were reckoned as only per cent"
To work out the balance of inter
| national payments of the United
| States, four groups were set up, the
! first dealing alone with imports and
exports of goods. The United States
was shown to have a favorable com
modify trade balance of 1870, 600, 900
for the year, after allowance had been
made for the smuggling of liquor.
The SAC. 1000. 900 so assigned was said
to be 'in the opinion of officials con
nected with the customs service a
| low estimate" considering the opera
tions of the ships in rum row. The
invisible" items were then taken up
and the earnings of the country from
| previous foreign investment, figured
| S614 900. 900 for the year from ocean
| freights, estimated at SIC, ,000,0 900, and
! from services TO foreign tourists, esti
mated at S100.0 100000, were shown to
total at S790.0O0,0 900.
! Tourists Spend 10000. 900.
| Foreign countries were estimated tc
/ have earned $4,000 900 from Ameri
can tourists, s15O.O00, 900 from invest.
| ment in the United States, and $685.
| 900, 900 from freight services. These
with the immigrant remittances they
| received. totaled S1,17S, ,000,0 900. and
were sufficient TO give them a credit
| balance against the United States or
all invisible" items of $38S, 1000 600 for
the year.
OF the whole record. Mr.. Hoover
said it illustrated a change from the
| conditions of 10 years ago. when the
| nation was heavily indebted to Eu
| rope" to condition in which "the
dollar is widely used in international
| transactions even where the United
| States is not directly concerned"