The border vidette., 1934-01-13
ECONOMIC HIGHLlGHTs
/ 8.34

erized by marked Improvement
in some basic lines. smaller i'm.
provement in others, and re-.
progression in only q few. The
business indexes covering the
year present q strange. confus.
ing picture. When the summer
upward surge started, in direct
opposition to usual season al
tendencies. it was hoped and be.
lieved that it would continue.
An unlooked-for fall drop. which
was also opposed to the seasonal
experience of other years, follow
ed. Gloom was deepest at that
time. Then business started up
again, and December was q good
month. Early reports indicate
that department store sales shot
up beyond expectations. Com.
modify prices we're strong. Con
sumers' goods industries, espe.
cially, were active.
Ia brief, 1888 did not sac the
progress that was hoped for.
The emergency relief measures
have been something of q disap.
ment to even their creators. The
Agricultural Adjustment Act has
been particularly unsuccessful.
But during the year . start to.
ward recovery was made, and
the public morale strengthening
which has never been more evi.
dent than it is now, with 1884
opening.
Notes on business follow:
Domestic Trade-Every effort
of the Administration 81 n c Q
March has been given to moving
more goods into the hands Of
consumers. It has been moder.
ately successful. in the face Of
definite consumer opposition to
higher prices. or late. trade in
urban ares has been less satifac. /,
tory than in the major agricul.
tural centers. Most striking ad.
gances in sales have been made
by mail order houses.
Employment-Here is where
the greatest achievement of the
year has been made. Every
month has witnessed definite I'd.
vances ia both workers employed
and compensation received. Fac.
tory employ ment was 20 per cent
higher this October than last
payrolls 33 ']Z3 psr cent higher.
In the non man factu ring indu
tries. employment gains we're re-.
ported for Ii out OF 16 ndustries
reviewed. Only in the bitumin-
Gus coal industry has there been
. significant late drop, and that
was largely due to labor difficult.
ties, with attendant strikes and
lockouts.
Foreign Trade--Lstely United
States foreign trade has expand.
ed sharply both in volume and
balance. Exports have incress
ed over imports, leaving us With
q sizable balance of trade. The
recognition Of Russia, recently
effected. is expected to produce
. considerable inflstion of our
exports business.
Real Estate-In October. for
which complete figures have
been issued. construction con.
tracts awarded were, with .
single exception, the best for
any month since November. 1881.
The industry had a bad year. but
Improvement is setting 10.
Agriculture-The farmer was
cheered BY the A. A. A. when it
passed. Then be was drasti-
cslly, violently disappointed.
Strikes and disorder followed.
A few months ago agricultural
iucome, when adjusted to living
costs, was lower than ever. Now
Improvement has started ia many
fields. more optimism is evident
both 10 Administration aud farm
circles.
Lumber-No important indus.
try experienced SO sharp an ad. 9
vance ia prices as lumber-aud
none was more At sea over what
TO do with them. Generally
speaking. the price advance was
close to 50 per cent during the
year. Orders have likewise been
good for the most part-but not
as good as was hoped. Cost OF
operation has materially risen.
Utilities-Here the experience
was not a. favorable as was hop.
ed. Sale of power in many 10.
calities has risen. But profile
have d dwiudled, due to tax and
legislative policies which in.
creased costs, made it iupossi.
BILE to meet them by raising the