Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-04
The Story the Week Has Told

with 1929. Owing to the unprecedented
poor (the previous years was q bumper
one), and the vintage was the poorest
as to both quality and quantity Of many
years. The latest general index of In
dustrial production was 1876, as against
141 q twelve-month back.
Unemployment, though small in COM
parison with other great countries, be-
gins to be appreciable. But, all things
considered, France is most fortunate
There is, indeed, something fantastic
about her fiscal exuberance. The new
year begins with the political situation
obscure and rendered somewhat MAS
matte by the OuStric financial scandals.
The new left government holds on most
precarious terms. Though composed of
Moderates, its life depends on the votes
Of the unified Socialists, true-blue rip
snorters. The reactionary developments
in Germany and the impoSSibility of
accord with Mlssolinian Italy have I'M
happily clouded the prospect toward the
millennium.
GERMANY.-German export held up
better during 1880 than the export of
any other great exporting country, the
decline in value being less than 10
per cent, in volume less than four.
Complacency on this head is tempered
by the consideration that the holding
up of export was not merely contrasted
by depression of the home market, but
was in no small measure attributable
thereto. The desperate character of
the general economic depression is
most wildly reflected by the statistics
of unemployment, the total thereof now
exceeding 100000 souls. The extra
ordinary gains made in the recent
general elections by extremists of right
and left represent a very natural
popular reaction; but there Is reason for
confidence that the republic will
continue to be safeguarded by majority
national credit is OF supreme
Importance A considerable fight of
capital ensued upon the election
returns, but much of 1t has
returned. Import, of course, falling off
greatly, there was for the year hand
some favorable balance of foreign trade;
all to the good from the viewpoint of
reparationS and that of international
credit generally, if not in other aspects
justifying jocundity.
Germany has now supplanted Great
porting countries, the United States
being first.
The new year opens gloomily
enough for Germany, but lot as
gloomily as for Great Britain,
probably not as gloomily as for Italy.
X X X
ITALY.-Our information from italy
is always meager, so that one may not
confidently estimate the degree of
Italy's share in the general slump, but
am inclined to think that Italy has
hut nof
her position is more precartous. To be
sure, the total of unemployed (around
half a million), though about normally
large, is considerably below the German
total, both actually and proportionately,
but there Is reason to believe that the
standard of living, ordinarily low
enough, has been painfully lowered,
much more so than the German. The
balance Of foreign trade, always sert-
ously adverse, has been improved, but
both exports and imports have declined
very sadly, and the decline of import
is mostly attributable to the bumper
wheat crop of 1929, while this years crop
was poor, a fact that will in due course
manifest itself unpleasantly in the
balance. Unemployment has been sub
stantially relieved by an ambitious pro-
gram of public works, and it is hoped
TO make good large part of the budget
deTlclC Dy general reduction OF salaries
and wages of government employees. But
these are notifications and palliations
only. I cannot but think that in view
of the representation of population
and the national poverty, the outlook
for italy is peculiarly disquieting. As
to foreign relations, the year was
chiefly marked by brisk continuance Of
Mussolinis efforts to aggrandize italian
influence In the Balkans, and by ever
holder assertion Of his leadership of the
movement looking to recasting of the
territorial clauses Of the Versailles
treaty.
The population of Rome is now about
$4,000. There is talk of a greater
Rome, which should include rapidly
growing Ostia.
UNITED STATES. THE aircraft IN
dEstxy was sadly dspressed ID 1880 tbs
s@gs elstge An@ Gnlw a1cazs one