Evening star., 1939-06-04
Blomes War Score for
World Trade Decline
Bu Frederic J. Hasktn.

of Nations which have just come to
hand show that the year 1888 saw
decline in international trade. For the
last 10 years the leading trading nations
of the world have been attempting to
increase their foreign trade and 1887
proved the best year since 1881, but the
gain which had been registered was lost
Since 1888 the United States has been
making a special effort to win trade
through negotiation of the Hull recipro-
cal trade agreements, but the totals have
proved disappointing. 1t would seem
that the diplomatic disputes which have
perplexed the world, in large part backed
up by show of military force, have
not been favorable to commerce
The year 1929 ranks as a prosperous
and active one for most Of the world
and the contrast now presented is we'll
nigh pitiable. Aggregate trade of the
nations reporting to the League of Ma
tons shows that in 1929 the volume Of
imports reached the huge value of S35,-
067,000000 A huge measure of domestic
prosperity for each participating nation
is reflected in so large a figure. The
decline was rapid after 1929 and a low
figure of but s11,816 100000 for imports
was reached in 1884 The processes of
recovery had brought the total up to
s16,247 100000 in 1887 but last year
there was decline to s14,232 900 900.
The various countries are influenced
in different ways as to their imports and
exports, but it is general rule that
nations cannot buy and import unless
they sell and export The League figures
show that in 1929 aggregate exports at
tanned the record figure of S32 SIT 900 900.
1t will be noted that there is a lack Of
balance as between imports and exports
The nations imported a greater value Of
goods than they exported. This Is ac-
counted for by gold movements or other
invisible factors.
The aggregate exports reached a low
figure of only s11.215 100000 in 1884 In
1887 there was a recovery to sl5.347,-
900 1000, but last year saw a drop to
$685. 100000. While it is true that the
very much larger figures for 1929 than
for any of the subsequent years are to
some extent accounted for by the price
decline which has taken place since. the
League shows index figures on volume of
movement, the physical tonnage of i'm
ports and exports, and these figures fol-
low the same trend. Taking 1929 as rep
resenting 100, the index compilation
shows that the 1887 physical volume Of
movement was up to 81, while the 1898
subsidized to 886
Great Britain long has been tradi-
tionally the leading foreign trader Of
the world. Her insular people must i'm
port heavily means of sustenance and to
do this must export heavily in manufac-
tured goods. Although efforts have been
made, especially since the World War,
to increase the self f-sufficiency Of the
United Kingdom, large volume of i'm
ports and exports seems to be necessary
to produce a living economy.
The trend of British foreign trade haa
not been different from that of the other
nations in the last decade In 1929 she
led the world in imports with a value
of IS 407 900 OO0 This dvindled to q
low of 50 2o44.2 100000 in 1884, climbed to
50 7s3, 100000 in 1887 and dropped to
50 48o 500 900 last year Her exports in
1929 amounted to s3,54e 400 900; they
reached low of s1,1s9 100000 in 1884:
then climbed to 81 522 300 900 in 1887 and
subsidized to 1889 900 900 last year.
While the United Kingdom has long
been the worlds greatest importer the
United States has in many previous
years been the worlds heaviest exporter.
Being a country of vast natural resources
in her earlier years and in more recent
decades one of the greatest Of manufac-
turing nations it has been but natural
that she should sell to the outside world
more than she needs to buy. Indeed,
save for a relatively few items such as
crude rubber. coffee and similar things
not climatically at home in North Amer
lea, the United States comes very close
to being a self-sufficient country.
Even though not in actual need of all
the things which are imported, never
theless large enough volume is pur-
chased from the rest of the world to give
the United States second place as i'm
porter. In 1929 imports amounted to
81 338, 100000. In 1884 the figure had
dropped to s97l 500 900. the lowest In a
long time. In the midst of depression
the United States was not buying for
eign luxuries. In 1887 the imports had
climbed to SLIT 500 600, but last year
they were down to sl151 100000. The
export side is more important. In 1929
sales abroad reached the vast figure of
S5.157 100000 leading the whole world.
BY 1884 they had dropped to sl2473o
600, but still led. In 1887 they were up
to 81 ,948 800 000 but last year were down
to 81 805, 400 600
A glance at the military dictatorships
indicates that their diplomacy and their
tactics have not enabled them to escape
the world experience of decline in for
eign trade. In 1929 Germany had i'm
ports Of S3,203, 1000 900, which placed her
In third rank. While the 1884 Gecl:ne
brought this figure down 10 ST ,G4S 500 900
1t left her higher than the United States
second only to Britain. In 1887 the
figure was $1299 400 900 and last year
was sl,296, 100000. Her 1929 exports
were s3,21l,6O0,000; in 1884 they dropped
to $979, 200 900; in 1887 were up to 81 4O5,-
100000 and last year amounted to
$1,250, 100000
Italy had imports of $l.139, soc, 900 in
1929, but the figure fell to 1892 200 900 In
1884. In 1887 they had climbed to s433,-