Evening star., 1935-02-10


II mercial survey of the world,
~ based upon official informa-
ton furnished by 60 govern
ments, indicates that as 1885 gets
under way, conditions are slowly but
surely returning to normal. Yet, while
in almost every sphere Improvements
over three months and year ago are
noticeable, the world is expected to
bump along near the bottom of the
depression for some time to come.
With five years of economic disorgani-
Zation behind, there is still another
five years to go before conditions ap-
proximating the good cid days" will
return, according to economic experts
of the League of Nations and Inter
national Labor Office. With statistics,
reports, graphs and estimates galore
at their command they have charted
the trend of the depression since it
started, much as a doctor, constantly
watching patient, notes every symp-
tom and change in condition. Their
deductions, although perhaps not in
faliible, nevertheless are interesting.
Employment, based upon the 1929
averages, is increasing in almost every
country. In South Africa and Japan
there are more Workmen employed
now than there were in the year be-
fore the depression started. In Great
Britain there is only one-tenth of l
per cent fewer men at work today than
there were in 1929.
Industrial production (manufac-
tured commoditieS) in all major coun-
tries is increasing steadily.
Stock Values Rise.
A healthy rise in the market values
of industrial stocks during 1884 was
recorded in Austria, Sweden, Mexico,
Germany, Great Britain, Denmark,
Canada and Italy. In certain gold
bloc countrieS-France, Holland and
Belgium-the market value of indus
trial shares declined heavily. In
Czechoslovakia and the United States
they remained more or less stationary.
Gold is coming out of its seclusion,
indicating that the public. which in
sisted on boarding despite govern
mental DEGREES and restrictions, is
becoming optimistic. Gold reserves of
all countries excluding Soviet Russia)
increased by more than 5000 100000
S1,5OO,000,O00 present-day gold con-
tent) during 1884. The year before,
despite the fact that newly mined
gold totaled S475,000,000 in value, the
gold reserves decreased some s30000,-
900, indicating that S505, 100000 in
gold disappeared from circulation dur
ing 1888.
Unemployment-in about half the
important industrial countries-is on
the decline, while in Belgium, Bull
garia, Denmark, France, Irish Free
State, Holland, Poland, Switzerland,
Spain and JugoSlavia it is again in
creasing. Yet, at the same time, there
are the paradoXical phenomena of
both employment and unemployment
increasing and both decreasing at
the same time in some countries. The
inconsistency is explained by the fact
that many people who heretofore have
lived off their savings have lately
asked for public relief. Also there is
the natural increase of the working
population through birth rates and
through the shrinkage of persons in
the professions, who because Of neces-
sity have entered the ranks of day
1aborers.
British Jobless Grow.
Great Britain, for example, had
10,223000 officially registered workers
engaged in 1929 and today (November,
1880 had 10,213,000 regularly employ
ed. Yet compulsory insurance records
show that in 1929 there were 1858, ,49l
unemployed, while latest figures give
2,122,299 now idle In other words,
while there are practically the same
number of men gainfully engaged to-
day as there were in 1929, there are
nearly million more in receipt of
unemployment insurance.
The condition of the worlds ner-
chant marine today also is interest
ing. Between 1929 and 1885 more
than 2,497,7O0 tons of shipping disap-
peared, i.e., was scrapped, abandoned
or lost at sea and not replaced. The
total tonnage afloat in 1929 was Co.,
74,300; today-on the high seas or
tied up in ports-there are ships ag-
gregating Sc, SIC 500 tons. The upturn
in the shipping industry is indicated,
however, by the fact that while there
were some 489,O00 tons of new ship
ping constructed in 1888, in 1884 new
construction amounted to 926, 700 tons.
The pre-depresSion yearly average
(1929) was 2, 793, 900 TONS While there
were 11,616,000 tons of shipping tied
up or idle in world ports in June, 1888,
there was only 100000 tons idle in
June of 1884.
The United States appears to be ac-
quiring lions share of new gold pro-
duced. In 1884 her gold reserves in
creased 854,0O0,0O0; Frances rose
$203 100000; South Africa added $24,-
100000 to her stocks; Japan, $20,000,-
600, and Czechoslovakia, $4,000, 900.
Germanys reserves dwindled the most
as the ReichSbank lost $73,000,000 of
its gold in 1884. Italy surrendered
s68,000,000, Holland $50, 100000 and
Belgium, $32,OO0,OO0. Even Switzer-
land, supposedly the safest" gold
country in the world, gave up $18,OO0,-
900.
United States Gold S4,S66, 100000.
In round figures the gold reserve
of the United States almost equals
tIldI OI d1l CuIOpCdl otdIcS put w.
gether. At the beginning of 1885
America has $4,866 100000 worth of
gold while the 81 countries of Europe,
excluding Soviet Russia, had together
S6,519,0O0.0O0 gold in their reserves.
France had more than half of this
amount.
The toal gold reserves of the world
at the end of 1885 (excluding Russia)
were $12,512,000,000 as compared with
$11,603, 100000 the year previous and
$11,058, 100000 in December, 1881.
Apparently there is no scarcity of gold
IN the worlds banks these days al
though paper currency may be hard
to find.
An analysis of the trade figures
World Trade in G.