Nogales international. [volume] (Nogales, Ariz.) 1926-1979, 1931-12-02

sonal proportions occurred, accord
ing to Lamont and in April, 1881,
the index of factory production was
about 20 per cent higher than the
December, 1880, low point. May and
June showed an increase over De-
cember of 5 per cent allowing for
the seasonally adjusted index.
Fall In Prices
The fail in prices, affecting p-ac
ticaliy every commodity in the ma
ton, naturally resulted in small
Ter total dollar volume of business.
This condition influenced all pro-
auctions and salec.
Advanced in commercial aviation
were especially noticeable. Compar
ed with June 80, 1880, the total
mileage flown daily by air trans
port companies both in the United
States and on foreign extensions at
the end of this fiscal year showed
ar. increase of 1882 miles. The pre-
sent total mileage flown on sched-
ule every "a hours in the United
States, and to Canada, the West
Indies, and Latin America is 1904
During tile calendar year 1880, A.
SOS passengers were carried and
nearly 100000 miles were flown.
Worldwide depression, accunlu-
lation of large stocks Of raw ma
terials and foodstuffs throughout
the world, declines in prices Of
commodities end securities and un-
settled political and fiscal conditions
in foreign nations all reacted ur.-
favorably on the United States.
Unemployment Hit Trade
Widespread unemployment in in
dustrial countries, such as Germany
and Great Britain, also affected
foreign trade to marked degree.
Wholesale prices during the per-
/ iod covered in the survey show that
farm product prices averaged al
most one-fourth lower as a re-
suit of the general decline in the
prices of all types Of farm products.
Food prices declined about II per
cent.
Rubber prices reveal sensation
al average drop of 81 per cent and
petroleum products average some
what more than one-ofurth lower.
Transportation suffered due to a
decline in freight volume, especially
in heavy industries and mining.
Conditions Reflected
Foreign trade reflected stagnated
world conditions. Total United
States merchandise exports fell be-
low the respective total of the pre-
ceding fiscal year by "a per cent
and were approximately % per cent
lower than the average for the five
year period Of 1922-1926.
! Exports to Europe declined slightly
less than 80 per cent below their
value of 1928-3O. Canada purchased
approximately IS per cent less and
Argentina and Brazil imports from
the United States showed a so per
cent ihrinkage.
Our exports to Russia fell off As
per cent.
Branch factory movement pro-
crossed during the year and in dis
cusSing this growth Lamont said
1.-The exceptional situation in Can
ada. where a considerable number
of branch plants, predominantly
American, were established during
the last year in spite of unfavorable
economic situation in that country
serves to confirm the conclusion Of
this department in the report tt
the Senate that the tariff policies
of foreign countries constitutes the
most important single factor in the
expansion of our industries beyond
the boundaries of the country
According to statement by the
! Canadian Premier on June l. 1881
81 new foreign branch plants, in
Guiding IA American, had been es'
tablished in Canada since August
1Ooo >,