Evening star., 1934-11-04
Recovery Indications
For Our Foreign Trade
BY HARDEN CoLFAx.

Interesting and heartening news as
to indications of recovery in our for
eign trade is contained in two studies
of the Department of Commerce
made public this week.
After three and a half years of
decline, the foreign trade of the
United States during the last nine
months of 1888 showed very def
mite Improvement. This is the con-
clusion of a study for the calendar
year 1888, which the Bureau of For
eign and Domestic Commerce has
Just completed.
As whole exports were per cent
greater in value than in 1882, and the
bureau believes this advance was due
! chiefly to price advances following
the suspension of gold payments. As
the value of the dollar fell rapidly
following the gold embargo of April
20. imports spurted forward and, by
August, the value of imports was ap-
proximately double that of April. The
foreign buyer increased his purchases
particularly of raw cotton.
The share of the United States In
total international trade, 1t should
be remembered, has decreased year
after year since 1929.
This good showing for 1888 was
bettered during the first six months
Of the present year. According to a
survey for the period from January
to July, our exports exceeded imports
by more than Sl73,000, 900. so that
the United States during that period
had lone of the most favorable bal
ances in its world trade for several
years"
Not only did we export S173, ,000, 900
more of goods than we imported dur
ing this period, but there was large
net inflow of capital funds. More
than 1920, 100000 in gold and $780,
000,0 900 in paper currency came in.
This would have disturbed our for
eign trade experts had it not been
accompanied by a real, if moderately
proportioned, increase in imports. The
figures show that, in 1888, with 30
principal imports or groups Of i'm
ports listed, 20 increased in value and
10 decreased. By quantity, is In
creased and only S declined. Raw
silk was the leading import, while
shipments of petroleum and products
showed the greatest falling of.
On the whole, the trend OF our
world trade, measured by the rela-
ton of imports to exports, furnishes
cause for some satisfaction.
Meanwhile, negotiations for the
conclusion of reciprocal trade agree
ments 90 on. One of these-that
with Cuba-has been already con-
cluded, and the Committee for
Reciprocity Information, which is
hearing business men as to their in
terest in these agreements, has
learned of good results already from
this agreement with our island neigh
Dor. A week or so ago our CONNER
cial attache at Havana reported the
sale of a large amount Of American
lumber directly attributed to the
new Cuban reciprocal trade agree
ment."
Hearings In the negotiations with
Haiti, Colombia, Brazil, the Central
American countries and Belgium
have already taken place. Sweden,
Spain and Switzerland also are def
nitely on the list and no doubt other
countries will be included later.
Restrictions on world trade con-
tinue burdensome. However, 1t Is
believed in Washington that there
is a growing realization that these
restrictions must be removed. The
negotiation of the reciprocal trade
agreements now under way with
foreign countries Is regarded very
hopefully by the administration. At
the Departments of State and Com
merce the opinion was expressed that,
"the steps taken by this Government
toward the maintenance Of those ex-
port lines which are of strategic i'm
portance in our national economy,
and toward the encouragement Of
imports Of such commodities as may