The daily worker. [volume] (Chicago, Ill.) 1924-1958, 1928-10-02
PRE-WAR LEVELS
FOUND EQUALLED,
EVEN SURPASSED
BigIndustryS Shipments
Are Recorded


period following the reconstruction
era which terminated in 1927" ac-
cording to a statement issued yes
terday by S. G. Bron of the Amtorg
Trading Corporation. Last year,
for the first time, the pre-war level
of production and trade was at
tanned and in many cases surpassed.
"The year 1929 ushers in the
era of industrial expansion through
new construction" Bron said land
preliminary data for the annual
period just ended indicate rate of
growth by far exceeding expecta-
tions. Production of large state in
dustries as whole, for the first
ten months of the year, amounted to
8,15,000,000 rubles in value and was
% per cent greater than in 1926-27,
a rate of increase which was also
in excess of the rate for the preced-
ing year. In view of the fact that
the average annual increase of in
dustrial output in pre-war Russia
averaged only per cent, this record
must be considered as substantial
achievement. Moreover, increased
production was attained not through
utilizing idle plant capacity, as was
largely the case in preceding years,
but through new installations and
improved methods of production.
For the coming year a similar rate
of growth is anticipated.
Record New Investments.
cover five billion rubles were
newly invested during the past year
in the various branches of national
economy. OF this total industrial
and electrification projects received
about 80 per cent, transport, ID per
cent, housing in cities II per cent,
and other municipal undertakings,
13 per cent.
Recent crop estimates show that
for the fourth successive year the
Soviet Union has gathered a good
harvest. Difficulties in grain pro-
curements, mentioned in the press,
are due not to general crop short
ages but to unfavorable geographic
distribution of the crop and to i'm
perfect adjustment of transporta-
ton facilities to the rapid growth of
industrial centers. 1t is expected
that this years grain crop will be
somewhat larger than last years;
flax and cotton are likewise ex-
pected to better last years yield.
Progress has been made also in re-
ducing the discrepancy between in
dustrial and agricultural prices, the
Scissors having been brought down
from 81 to II per cent in the course
of the year.
Fiscal Revenue Figures.
"Reflecting the healthy state of
the national economy of the u. S. S.
R., are the figures of fiscal revenue,
which amounted to 5,067, ZOO, 900
rubles for the ten months ending
July 81, 1928, an increase of 1856
per cent over the corresponding
period of last year. Loans and dis
counts of the principal Soviet banks
averaged $685., 100000 rubles for
the first quarters of the year,
81 per cent in excess of last years
average.
"The total foreign trade of the
Soviet Union during the first ten
months of the year, while changed
in character, due to the drop in grain
exports, was nevertheless Is per
cent greater than last year. Notable
features Of the foreign trade for
the past year were the considerable
expansion of oil exports-exports of
2,174,700 tons for the ten-months'
period being 3S per cent greater
than last year and the 90 per cent
increase in the imports of industrial,
equipment, which amounted to 212,-
100000 rubles for the period.
Increase Soviet-U. S. Trade.
"The United States, during the
past year, strengthened its position
in the foreign trade of the U.S.S.R.
The turnover of the four Soviet
American trading organizations, the
Amtorg Trading Corporation, All
Russian Textile Syndicate, Centric
soyuz-America and Selskosojuz-
America, for the fiscal year was
$110,000,000 of which $93,000,00O
represents purchases Of American
equipment and raw materials and
S17,000,000 sales of Soviet products
here. If imports of furs and man.
ganese by concessionaires and ship
ments to the U.S.S.R. by various
other organizations are included we
obtain a total of $120,000,000 for
Soviet-American trade for the year
as compared with $92,600,0oO for
the fiscal year 1926-1927 and $751;
100000 for 1925-1926.
1.-THE increase of almost 50 per
cent in trade over last year by no
means represents the full extent of
the growth Of the economic rela-
tions between the United States and
the Soviet Union. Several important
invisible items must be mentioned
in order to complete the picture.
These include the several agree
ments for technical cooperation con-
cluded with American engineering
and manufacturing firms, the addi-
tional contracts for Soviet oil en-