AMERICA AND GOLD

New Zealand Herald, Volume LXX, Issue 21640, 4 November 1933, Page 12

AMERICA AND GOLD

DEPARTURE FROM STANDARD INCREASE IN IMPORTS i i i "It ■Ras predicted that when the ; United States went off the gold ■ standard imports into the country j would decrease and exports increase/' : said Mr. .T. David Larson; trade counsellor to the Los Angeles Chamber of Commerce, who arrived by the Monterey yesterday. "The facts are,'' said Mr. Larson, "that since the country went off the gold standard there has been a greater increase in imports than exports. From April to August imports into the United States increased by 75 per cent, while exports from the United States increased by 2» per cent. For the first eight months of this year the United States sold to the world 945,341,000 dollars' worth of products. During the same period she bought from the world 890,195,000 dollars' worth of commodities. Among the items which show increases were wool. The United States purchased 1,100,000 dollars' worth more of wool than last year. Most of this increased purchase was from the London market, but the wool was probably New Zealand or Australian crown. "It is interesting to note that the United States is still a good customer of the world, but general world depression has seriously decreased the volume. In 1923, the United States sold to the value of 2,560,017,138 dollars and bought to the value of 2,650,602.609 dollars, or 90,555,471 dollars excess purchase, as against sales. Increased imports to tho United States indicate a revival in business and the balance of trade, providing tho dollar exchange looks sate."