Evening star. [volume] (Washington, D.C.) 1854-1972, 1925-10-29
AMERICANS SPEND
HUGE SUMS ABROAD
Immigrants Also Keep Money
F., Flowing Toward Home.
| Tide Recently Turned.
BY j. {. ROIIE.

The tide of invisible exchange,
the shores OF this country. now is
flowing in tremendous volume to
foreign nations. BY invisible exchange
IL meant those items in our inter
national trade which do not appear on
the customs returns. They consist
largely of freightS paid To foreign
shipping interests for transportation
of exported and imported goods by
this country, expenditures OF tourists.
the sums paid out by charitable and
missionary organizations and remit
tances into foreign countries by i'm
migrants who have come into the
United States
These items will form a tremendous
total this year. 1t is estimated that
the debit items will range between
$1,000. 900, 600 and $l,100, 900, 900 by
January l.
The credit items. on the other hand.
received by America in the form of
/ interest on money owed us by foreign
concerns, the payment for use Of
American ships by Foreigners and the
expenditures by foreigners in the
United States will amount approx
mately to $500 900 900. leaving d
heavy balance against this country.
These sums. of course do not include
the governmental debts owed the
United States by foreign nations and
do not involve the merchandise and
commodities imported and exported.
Foreign Funds Withdrawn.
1t is obvious that these invisible
Items cannot he accurately recorded,
but the foregoing estimates have been
made with as great care as possible
and With the assistance of many bank
erS and statisticianS both here and
abroad. Bankers declare that the
amount Of foreign money on deposit
In the financial institutions of the
United States has decreased to a re-
markGble degree since the affairs of
Europe have been brought to more
stable basis.
Parcel post packages sent abroad to
individuals as gifts will this year con-
tain in goods value around $50 900, 900.
In 1924 the amount paid by Amer
lean importers to foreign shipping on
merchandise freight carried to this
country amounted to approximately
$4,000, 900, but about one Fifth of this
was returned in the way of port
charges on foreign vessels in American
ports.
Much Money Sent Relatives.
Since July /. 1924, the number of
Immigrants coming into the United
States has been materially reduced
but so far this fact has not had any
appreciate effect on the remittances
sent abroad. 1t is roughly estimated
that these remittances this year will
exceed $3.50 900 200.
The shipments of goods and money
abroad by charitable and missionary
orga niZati has steadily declined
since 1923. 1t is believed that sos ,0O0,-
600 will cover such shipments this
year.
The expenditures of American tour
lists, however, have risen startlingly.
both in the amount paid to foreign
shipping interests for passage and in
the amount expended while abroad.
The amount in 1924 was estimated at
$4,000 900. and it was figured that
each tourist paid out an average of
between $1,000 and 81 400 if he visited
Europe.
Tourists Spend Huge Sums.
The increase in the cost of living in
European countries and in hotel rates
and other charges will undoubtedly
raise this average in 1925. In addi
tton it is estimated by Canadian OBJ
servers that American tourists will
spend at least $3.50 ,000,O 900 in the Do
minion this year. This will bring the
total paid out by American tourists
in all parts of the world to around
$500, O00,0 900 or more.
Americans have invested largely in
foreign countries during the past year
Much of this investment consists of
purchases of real estate and of es-
tablishment of branch factories and
houses in foreign centers Against
this total must he placed approx.
mately 100000 900 expended by for
eign visitors In the United States.
Copyright 1881