Evening star., 1933-11-26
FAVORABLE TRADE
BALANCE REACHED
Upward Trend Receives
ReperCussion as Canada
Holds Dollar Deprecated.

Continuing the trend of recent
months. the United States had a IA
vorable trade balance for the month
of october. when both imports and ex-
ports showed expansion in both volume
and value. Exports were valued at
s194 900, 900, as against imports of
s151 200, 900, leaving favorable margin
of s43, 1000 900.
The export figure exceeds Septem-
ber by 81 per cent, when the total
sales abroad reached $160 900. 900. and
is 27 per cent higher than October a
year ago. In fact, the total is the larg-
est for any single month since october,
1881.
Imports were 3 per cent higher than
in September and 43 per cent above the
figure for october, 1882.
Dollar Depreciation Cause.
The Department of Commerce prof
fered no reasons for the pickup In ex-
ports but administration experts attribu-
ted the trend at least partially to the de-
probation of the dollar A repercusSion
was felt with word that the Canadian
government has proclaimed the dollar
a deprecated currency for customs
purposes. Accordingly. shipments from
the United States into Canada made
on and after November % will pay reg
ular duty on the par value for the
American dollar. and certain classes Of
goods also produced in Canada will be
subjected to an additional dumping
duty equal to the difference between
the current exchange value and the
par value. Information to this effect
was received by the Department of
Commerce today from Oliver B. North,
assistant commercial attache to the
legation in Ottawa.
The current exchange value Of the
United States dollar in Canada is now
about 81 cents in terms of the Cana
dian dollar The United States thus
joins the following countries which
the Canadian government classes as
having deprecated currencies: United
Kingdom and Irish Free State, Norway,
Sweden, Denmark, Finland. Portugal,
Brazil. Japan. All these countries ex-
cept the United Kingdom and the
Irish Free State also have to pay the
so-called dumping duty on their ex-
ports to Canada.
Advance Holds September Rate.
Adjusted for normal seasonal varia-
tion.' the Department Of Commerce
announced in publishing the figures.
''the advance in export value has main
tanned unchanged the rate of increase
reported for September. The adjust
ed index indicates that exports have
advanced 10 per cent since August in
addition to the normal seasonal i'm
provement. The october level is AZ per
cent of the 1923-25 average. Because
imports usually advance in this season,
the adjusted import value index de-
clined from SO to 46 per cent of 1928
25 average"
The October figures bring the total
exports for the first 10 months OF the
year to s1298 986 900 and the imports
to s1,l8S,ll2000, giving the United
States a favorable balance Of S110,874,-
600. This balance compares with to-
tai favorable balance of S171, 900
for the entire II months Of 1882.
The increase in exports during Sep
tember and October occurred while the
import movement leveled off after the
rapid rise from May through August.
Consequently, the balance of merchan-
disc trade has changed from net i'm
port surplus of $23. 500 900 in August to
the net export surplus of s43, 600. 900 in
October. This compares with an excess
Of exports Of $4SOOO,OOO In October,