Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1928-12-05

ANhlNh lON. Zee. o. ~ -
Bandying about sums running into
the billions, Secretary Mellon has
found that business, which reached
a low point in November and De
cember Of 1927, finished the fiscal
year ending June 30 only 2 per cent
below that OF the previous twelve
months.
In MS annual report the financial
chief Of the administration Grams
into a 9l-page pamphlet a formid-
able array az figures showing the
intricate fiscal operations Of the
government and dealing in detail
with agriculture. customs affairs,
taxes. business conditions. prohibit
tion, and a great many other things
and with scarcely a note OF pessi-
mism for the future.
Agriculture. rs a whole. he saws.
made substantial gains. Automo-
bile production experienced a ma
jor turn for the better during the
year. Export trade was but slight
IN under the previous year and inn
poras had but 2 small decline. As
10 liquor, be says only about 5000
600 gallons was identified in foreign
ports as presumably destined for the
United states against $4,000. 600 gall
Ions the previous year.
Liquor Being Made
incidentally tne secretary says
that division Of legal liquor, includ-
ing Industrial alcohol. is no longer
the major problem Of domestic law
enforcement, but that illegal manu-
iacture from sugars and grain is
the principal source of supply ~
the domestic market. The proven
tion az drug smuggling he believes
to have been improved.
Az the opening Of the fiscal year.
the secretary says. the volume NJ
business was nearly on a pay with
the year previous but soon fell off
reaching its minimum IN the last
two months Of 1927. In January re-
covery took place and the monthly
volume thereafter was sustained
about equal TO the same months of
the previous year.
There was an increase both In
prices and in total cash returns for
the crops and products Of the year
i925-2s as compared with those o.
The year 1862. this increase rep
resenting the net result Of gains in
some products and losses in others
he says Of agriculture. The aver
age prices received by the farmers
during the fiscal year increased
about Z per cent while there was q
slight decrease in the prices paid
by farmers for their purchases, ac-
cording TO price data compiled by
the United States department OF
Agriculture. The advantage VI this
increase in average prices per unit
produced was partly offset by a de-
crease IN volume. As the net ef-
feet Of these two forces, the csti-
mated gross cash income from farm
products increased in the fiscal or
crop year of l9Z7-2S by SPA, 00O. 900
or 20 per sent as compared with the
preceding crop year
Auto Totals Decline
A. 20 automobiles he saws monthly
figures indicate that a general de
cline which began in November.
1926 reached its lowest point in No
vember and December. 1927, and
that the year ended with June-July
NNtANNARA hNAAAE 90 NtA tEMh drORt
the production Of the same months
Of 1927. The total for the year.
however. was II per cent below that
Of the previous year.
Export trade. the secretary saws.
reached a total value or S4.s77, 900. |
a decrease Of rs per cent over the
previous year while imports aggre-
gated S~4,l46, 000. goo. a decrease Of
per cent as compared 10 1927.
In reviewing the financial Situa-
tion Secretary Mellon calls attention
that the gold stock Of the Unitel !
decreased nearly $500. O00. 600 |
from the Sl,600.0 600 600 On hand Al
the beginning Of the year. The OUT
movement OF gold. he says. had
a far reaching effect.
III has contributed 70 the restora-
tion and fortification or the gold