The Washington times., 1928-11-07
EXPORT 7 RADE
MAKES HIGH
RECORD
BY HARRY GUSACK
Financial Editor

enew high record. on the basis Of
the first nine month figures of the
war, and is larger in volume than
any year since 1921, according to the
! kkNational Trade Council in a report
on the 1923 foreign trade made pub
@ic today.
OF the s3,5630O0, 900 worth of ex-
ports reported up to the end OF
September about % per cent the
highest proportion on record the
council points out, represents goods
wholly or partly manufactured.
About one-fifth of these manufac-
S1ured goods go to Latin America,
where the United States is now sell
ing more than three Of her leading
mpetitors-England, France and
Germany-combine and where she
bis now the leading supplied to every
one of the 20 republics south OF
the Rio Grande.
The report says in part:
THE American manufactured ex-
norts. valued at more than 81 600,-
OnO, 900. which have been sold
abroad during the first nine months
of this year, exceed by more than
$4,000, 900 our entire exports for
sihe year 1923 of raw and manu-
factured goods combined, and exceed
thu exports of all commodities from
any other nation than Great
Britain for the whole of 1927.
They represent substantial gain
over recent years for many inn
portant American industries. The
@utomotive industry notabaly has
increased its sales abroad of auto.
mobiles, trucks, parts and acces-
sOries. and now contributes IA per
cent. the largest proportion Of
American export trade in manu-
factures it has ever had. During
A1he fiscal year just closed $425. .O0O.~
900 worth of automotive manu-
features. of all kinds were exported,
sci 900. 900, or 16 per cent greater
thah for the preceding year. and
n 500 per cent in excess Of the
average automotive exports for the
four years before the war.
" Our imports for the fiscal year
just past were $627 900, 900 less than
our exports. or $4.146 900. 900. They
show d reduction of about $3I9, ,OO0.-
900 from the preceding fiscal year,
chiefly owing 10 price recessi0ns on
important raw products such as
rubber. tin and silk The reduc-
Wtion on water-borne tonnage of our
imports from the preceding year
issp less than 2 per cent.
Imports OF all classes of manu-
factures amounted to 1876 per cent
of our imports for the fiscal year
as opposed to the proportion OF
SIS per cent. the average for the
four years prior to the war.
Foreign Trade Gain
The September index OF the
limited States agricultural exports
is placed at 13S, little under the
indices for September, 1926, and
1927, but comparing favorable with
4he same month in other recent
years, according to the Bureau of
Economics of the Department of
Agriculture. The outstanding fea-
hure was the increase in the ex.
ports of cotton.
The index of our exports OF
r5tton is placed at 116, or about
25 points above that Of September
hast year, and about 70 points above
nat of August, 1928. Compared
with September, 1925, The index was
bout three points above.
Unmanufactured tobacco showed
marked Improvement, being higher
than for any month since January
1897. and exports OF fruits and vege-
tables were well maintained With
.fhe exception of September, 1925, tex-
ports Of wheat and flour were less
than corresponding month during
I've last 10 years. Pork and lard
Arontinued to decline, while dairy
products and eggs continued at about
34he same low level noticeable in re-
cent years.
New England Trade Good
The idea that New England in.
ustry is as a whole on a down.
yard trend has no justification in
act. it was declared today by DR..
ulius Klein, director of the bureau
foreign and domestic commerce
the Department of Commerce, in
scussing the departments re-
Entity completed survey of the
New England marketing area
(which was initiated and conducted
with the co-opera ton of the New
England council
As an indication Of the present
onward march of the six Northeast
prn States. DIR. Klein pointed out
he month of August this year shows
Substantial increases over the same
month a year ago in the volume of
business reflected by check pay
nents, car loadings, electric power
production, sales of new motor cars.
residential building, silk mill activi-
4Ms and shoe production.
The New England surveys and in
fVestigations of other areas which are
being carried on by the department
Were initiated with a view to devel-
@ping the vitality important basic
facts with which the business com
snunity, with the aid of the Govern
men. can eliminate some Of the ele-
nents of waste in distribution, esti.
mated 10 cost the country approx
mateIy $4,000, 600. 900 a year and rep
resenting about 20 per cent Of the
net value of the total manufacturing
production of the United States.
Most of the New England study
will eventually be published in three
volumes, one chapter of which was
made public today, giving statistical
Hata on New England manufactures.
The annual income of the people
of New England from manufactur-
ing activities is in excess of 50 ,000,-
900 900 and constitutes IL per cent
of the total national income from
manufacturing activity. The gross
value of New England products as
Ahown by the last census, was well
over double this amount and com.
pxfsed nearly 10 per cent of the
rfoss value for the entire United
states. In some 35 leading lines of
manufacture New England contrib
uates Is per cent or more of the
aptire national production.
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