EXPORT TRADE.
With an anticipated total value of $5,600,000,000, American export trade this year promises to exceed that of any previous year, excepting the War years, when foreign competition was virtually non-existent. From 1910 to 1914 American exports averaged about $2,000,000,000 a year. A significant change is apparent in that while finished manufactures, before the War, constituted only 30 per cent. of the whole, they now amount, after consistent growth, to 52 per cent. Thus, instead of being principally a source of raw materials fob' manufacture in other countries, the United States is now an active competitor in manufacture with them. One moral drawn from the changed character of the export trade i. that it emphasizes America's interest in the well-being of other countries and the need for friendly relations with them.
Previous page
