OCR Text |
Show I FOREIGN TRADE DISAPPEARING. Exports for Februan were $251. UOO.OOO as compared wilh $278,872,000 for January, and imports for tbe month were $217,000,000 as compared with $217,193,000 for the previous month. Total exports for eight months were $2,480,000,000. or a drop of more than "'i per cent as compared with the same period a year ago Imports also have fallen 50 per cent and total $1,622,000,000. This is a serious fallinc a way of 1 foreign businc-ss and should prove die turbing to those who aro trying to pull the country out of tho mire of adversity. Three years ago the I nited State had an export business of eight billion bil-lion dollars and imports of fivo bil lion dollars, leaving a favorable bal ance of trade of three billion dollar This thirteen billion dollars of business busi-ness has decreased more than f0 per cent. A percentage of this loss as ex pressed in dollars Is accounted for by the drop in prices, but even in tonnage ton-nage Ihe decrease hns hen most dls turbing America should make extraordinary j efforts to retain its foreign trade in order to avoid a shriveling process . which must close the doors to em-! em-! ployment. This country produces more than it consumes md must seek j foreign markets or suffer a contrac j tlon of Industry. At this time it Is essential to do everything possible to create new opportunities op-portunities for the unemployed, and the expanding of our foreign trade Bhould afford that greater field |