| OCR Text |
Show OUR FOREIGN TRADE IN THE FISCAL YEAR 1925 The fiscal year 1925, which ends sixty days hence, will show the foreign for-eign commerce of the United States over eight and a half billion dollars against seven and three quarters in 1924 and less that 6 1.-2 billions in 1922, all of these figures relating to fiscal years. This increase of more than two billion dollars since 1922, says the Trade Record of The Nation al City Bank of New York, is about equally divided between imports and exports. Imports of the fiscal year 1925 will exceed those of 1922 by about one billion dollars and the exports ex-ports will exceed those of 1922 by about $1,200,000,000. The excess of exports over imports, or "favorable trade balance" as it is sometimes called, is likely to be about 1 1-3 billion dollars against 1 billion in 1922 and a little more than half a billion in 1913, the year preced ing the World War. Prior to t he opening of the war the excess of exports ex-ports over imports never reached the billion dollar line, the largest prewar "favorable balance" that of 1908, hav ing been but $666,000,000, or about one half as much as the prospective "favorable balance" of the fiscal year which is about to end. During the war, adds the Trade Record, when Europe was buying largely from us and sending us little merchandise in exchange, the excess of exports over imports, or "favorable trade balance" ran into big figures, having been 3 1-2 billion dollars in the fiscal year 1917 and a little more than 4 billion in 1919 but made its highest pre-war record in the fiscal y-nr 1903 ?633,4311654 and $652,875,-916 $652,875,-916 in 1913. In fact is was'only after the manufacturers manu-facturers of the country began their contributions to the export trade that the excess of exports began to make itself apparent in their foreign trade figures, and there have been only three cases in the last fifty years, in which exports did not exceed imports This big and growing contribution of the manufacturers to the export trade is evidenced by the fact that manufacturers manu-facturers exported (including the two groups "Finished Manufactures" and Manufacturers for Further Use in Manufacturing") have grown jfrom $103,000,000 in 1875, fifty .years ago, to a total which likely to exceed $1,400,000,000 in the fiscal year ending end-ing with June, 1925. Meantime the value of manufacturing material which the manufacturers have imported import-ed has grown from $142,000,000 in 1S75 to probably more than $1,300,-000,000 $1,300,-000,000 in the fiscal year 1925. Manufacturers, Man-ufacturers, of the two groups above mentioned, new approximately 50 p c I of our total exports against 15 p c j in 1880. |
