AMERICA’S EXPORTS

Manawatu Standard, Volume LII, Issue 133, 7 May 1932, Page 2

AMERICA’S EXPORTS

HEAVY DROP RECORDED. America’s foreign trade lias dropped 53 per cent, since 1929, according to the annual report of the United States Chamber of Commerce, which lays bare the depressing facts, but curiously fails to find anything in the American situation contributing to the drop. Foreign tariff increases are mentioned and depreciated currencies are blamed, but no mention is made of the effect of American tariffs on world trade or the results of thousands of bank failures and the decreased buying power of this country. Canada, Australia, India and the United Kingdom purchased 39 per cent, of United States exports last year, and, in return, American buyers bought from these British Empire countries 23 per cent, of the total imports.