Show W arst estimate of invisible exchange of the first drist attempt of the department of com L merce to make a careful estimate of the volume of solid lid invisible exchange have been bounced by secretary of commerce oer ier indicate that intend of tto countries owing tile united ile FM representing the KM of e exports over imports for the tf map 1922 various items of invisible ibbe reduce the tha amount to AO Taide tilled estimates relate to the JIVA 1922 since which the balance of 1 la turned against the united k commenting on the dIffer different edt pon 1111 listing existing in 1923 mr hoover M like been a continued move wt lit the united states in the pt items of invisible exchange exchangers as r oil oa merchandise account and that there has been much less move ment in the export of capital mr hoover explains the phenomenon of continued large importations of gold despite the adverse balance of trade by suggesting it may be due to the fact that there has been a large export olour of our currency which Is being held and used abroad and that there are some evidences that european countries have increased their 0 pen open balances in the united states and their investments n american securities having for the first time attempted to trace down the items of lil invisible vIsIble ec exchange hange mr hoover Krin announces ounces that it Is proposed to do so annually hereafter and that through the co opera tion of banks banka find and merchants comprehensive estimates will be made for the year 1923 as soon as the year comes to an end |