The Omaha guide., 1935-03-16
ECONOMIC
HIGHLIGHTS
Happenings That Affect the Din
ner pals, Dividend Checks and
Tax Bills of Every Individual

from depression is to view it in
the light of the experience of 9TH
er nations which face the same
problems and are battling the
same depression. During the last
few years, the American press has
carried scattered and disrelated
comment on foreign pains and
losses, but, at least so far as the
lay reader is concerned, nothing
has been issued that gave any-
where near a clear prospective of
actual conditions.
Now, in an article in oFreign
Affairs, Willard L. Thorp, Chair
man, Advisory Council of the
NRA, and Professor of Economies
at Amherst, has adequately per-
formed that difficult task. AS
part of a general article on World
Recovery, Nh. Thorp has assembl-
ed statistics from all the major
powers covering the four most i'm
portant barometers of economic
conditions: Industrial produc-
tion,, unemployment, wholesale
prices. and value of foreign trade.
Socially speaking, the unem-
ployment record is the most i'm
portland. In this field, Mr.. Thorp's
figures cover the representative
period from August, 1892, to
August, 1884. They show that
Germany had the best luck in put
ting men back to work-its unem-
ployment declined by 81 per cent.
Australia declined by SO per
cent, the United Kingdoms BY Is
per CEN, Japan's by q per cent,
Canada's by 16 per cent, the
United Kinkdom's by Is per cent,
Japan's by q per cent, Canada s
by Is per cent, and Italy's by s
per cent. Three countries-France
Czechoslovakia and Poland-show
a rise in unemployment. The
United States was at the middle
of the list, being under Canada
and above Italy, with an unem-
ployment decline of IL per cent.
When it comes to per centage
in wholesale prices, the United
States leads the rest of the world.
From 1892 to a late month, prices
in this country advanced 20 per
cent-twice as much as in the
seond country, Japan. England
showed a 5 per cent rise, Germany
4 per cent. A large group Of
countries, including P 0 la n d,
France and Italy, showed declin-
es. 1t is an interesting fact that
in many countries, government
has attempted to keep prices down
while the American administra-
ton has gone to extreme lengths
to force them up, believing that
high prices are essential to bust
ness recovery. However, they
proved to be a mixed blessing
you can put prices up, but can't
make people buy. With present
trend of Administration policy. t
is doubtful if further advances
will be registered. There is a bet.
ter chance that the general index
will go down.
The tables on foreign trade
show that Japan and the Unied
States have had the best expert
ence. based on a comparison Of the
third quarter Of 1884 with the
third quarter Of 1892. Our ex-
ports ros 81 per cent, and our
imports As per cent, while Eng
lands rose IS per cent and 4 per
cent, respectively. Poland, Ger
many and France showed declines
In both phases of foreign trade.
while Austria, Australia and
Canada showed moderate rises.
Japan's exports went up 81 per
cent and her imports jumped 122
per cent-a trend which, if con-
tlnued, will result in a serious in
ternal situation inasmuch as she
is sending much more money out
OF the country than she is getting
in.
The most representative index
OF all is Industrial production. To
make this comparison, Mr.. Thorp
selected the lowest three months
each country had since January.
1882, and related them to a late
three-months period. In this CON-
parison, the United States stands
exactly in the middle Of the LIST
with a gain from the low point Of
81 per cent. Canada is first. with
81 per cent, followed in order bv
Germany, Sweden, Japan and
Czechoslovakia and then the Unit
ed States. Under us, is the United
Kingdom, Poland, Austria, France
and Belgium.
Thpra oyo +bo f;r,,,oc