Nogales international., 1936-03-07
The "Sage Of Palo Alto" Wrong Again

The "Sage Of Palo Alto' Wrong Again
In recent speech at Portland Oregon, Mr. Hoov-
er mentioned the chaotic condition of our foreign
trade.
According to figures just published by the Bur
of Foreign and Domestic Commerce, our exports
of iron and steel products increased 2O6415 in 1886
1892, in value Automobile exports in 1885 were
1981R greater in value than the exports of automo
bes in the last year of Mr. HOovers administration
Copper exports show gain of 130.51@ in value and
tobacco exports 1034 greater dollars in 1896
than in 1882; machinery exports were 10151a great
er in value during the "chaotc" year of 1886 than
when rugged individualisn" held sway in 1892
The "Sage of Palo Alto" may demur that these
are increased values 59-cent dollars How then does
he explain the increased exports of passenger auto
mobiles from Al 900 in 1892 to $4,000 in 1885, or of
motor trucks from 25,O00 to $4,000 during those
years? The deprecated value of the dollar does not
account for the increased exports of crude petroleum
from 1881 900 barrels in 1892 to 81 900 barrels in
1895, for the greater shipments of canned fruit
picked from his own California hillsdes from 264
million pounds in 1882 to 322 million pounds in 1885
The Oregon lumber mill owners whom he was ad-
dressing will scarcely appreciate his remarks when
they learn there was 1892 increase in the board
feet of lumber shipped abroad in 1885 over that
ported in 1882; will the coal miners of Kentucky
West Virginia and Pennsylvania understand his re-
ference to "chaotic' export trade when the record
shows 1872 increase in exports of coal and COKE
The fact is that our exports at the end of 1885
had reached 100 per cent of the 192325 average in
quantity, with the unit value at of that average
compared with the low Of 602 Of the 192325 quanti
ty touched in 1892 and unit value 502 of the 1928
Is figure
Exports were 4212 greater in value in 1885 than
the exports Of 1882 This represents not only gain in
value, but also in volume It not theoretical
gain due to the 4112 devaluaton of the gold content
of the dollar for the reason that the devauatiOn OF
the dollar affected it's exchange value only in the four
remaining gold bloc countries, France, Belgium, Hol
land and Switzerland
The exchange value of the dollar with the none
tary units of the rest of the countries of the world
which had already gone off gold had long been ad
uSted by the balance of payments between such
tries and the United States and the gold content of the
monetary units involved had effect upon the ex-
change value of the dollar in those units We sold
them in 1885 only what they could pay for in goods
services as the expectation of gold from most Of
them was either prohibited or greatly circumscribed
Therefore, as the Reciprocal Trade Agreement pro-
gram, Internationally interpreted under the "mOst
favored nation" clause of our treaties with those
countries made importations less difficult, dol
lars were provided them for the purchase of Amer-
goods 1t is for this reason that our exports show
increase in quantity from 6Oh of the 1923-25
age in 1892 to 1902 Of that average by the end of
1895.
An English church court has decided that the SER
pent really spoke to Eve. Thank goodness, that's set
tied
Italian refOrmers are cruSading against pettlng.
Appropriately enough the movement started in Bo-
lOgna
When you group of citizens gesticulating
violently and arguing vehemently, they are not dis
cussing the League of Nations.
There is at least some slight hope of reforming
everyone except professional reformer.