Evening star., 1932-10-30
Worlds Business
Is Now Improving
BY HARDEN COLFAX.

After three years of almost unrelieved
gloom. world business seems to be really
picking up From Europe and the Far
East come official reports of unmistak-
able signs of a more cheerful spirit and
some indications of actual increase in
activity Only in Latin America does
the situation still seem depressed,
largely due to revolutionary conditions
in several countries. Mexico and Gen.
tral America have a better outlook than
South America.
From countries primarily dependent
on production of raw materials and
staple foodstuffs, especially such Far
Eastern areas as Australia, New Zealand
and the Philippines. commercial at
taches and trade commissioners are
cabling that, in spite of political unset
tlement, there is discernible a rising
note of confidence. In better times
these might be regarded as of no par
ticular Importance. At present they
stand out because it is the first time
in more than three years that even a
slight general advance is recorded.
X X
Coupled with an increase in our own
exports during the past two months. the
better news from abroad indicates that
the worlds trade has actually begun to
revive. The favorable balance of Amer
lean trade for September was the larg-
est for any month of the year, largely
because of greater cotton shipments. al
though the gold movement also contin-
ues to favor us, the excess of imports
over exports of the yellow metal being
just under $28,000000.
Hesitancy continues to be the key
note of business in Europe. However,
industry and trade are regaining conf
dence. Barter trade is increasing
where exchange difficulties exist. Prl-
vate and public compensation agree
mentS are being made and higher Sc
curity and commodity prices are fur
nishing some cheer at least. In spite
of labor troubles during the past fort
night, slight but general pickup in
retail trade, particularly in food and
provision lines, is reported from Great
Britain, and there has been a consid-
cradle reduction in public debt eXpendi-
lures.
German business has been encouraged
by greater activity in iron and steel
chemicals. cotton, wool and textiles and
mining. Exports and imports increased
during September, as compared with
August, and unemployment showed a
decline
Seasonal improvement, the first gain
in many months, has appeared in
France, with unemployment tending to
decline. This gain has been somewhat
offset by the governments weak fiscal
position General business conditions in
Belgium are much better, particularly
in the metallurgical industries and the
coal mines. Spain is rejoicing in un-
usually satisfactory crops, which help
to offset general business stagnation
Conditions are not so good IN Yugo-
slavia and Greece.
In Canada it is reported that retail
trade is somewhat better, particularly
in the western provinces. In spite OF
political and military uncertainties ano
increasing unemployment, Japan's for
elgn trade seems to be doing better
In Australia, New Zealand and the
Philippines unusually good agricultural
conditions have helped greatly. Prices
are steadier, with tendency to ad-
vance.
It is true that there has been 6
shrinkage in overseas buying power. an<
tthesereports from representatives OF the