HITTING BACK.

Putaruru Press, Volume VIII, Issue 347, 17 July 1930, Page 6

HITTING BACK.

AMERICA IS TROUBLED. Fewer American-made goods were sold abroad during the first quarter of 1930 than in any similar period in recent years, says the London Daily 4, Telegraph. The average loss in all commodities was 20 per cent, using the 1929 figures as basis, but motor cars the decline was nearly 50 per cent. Coinciding, as it does, with the bitter opposition to the new American super-duties which is reported from Canada, Great Britain, France and other countries, the news is causing considerable uneasiness. This tremendous slump in American foreign trade has hit industrial and agricultural workers equally hard. Cctton exports are lowest they ha\-: been since 1922. The demands for corn, flour, meal, animal fats, oil cake, fruits and other farm products were less by 25 to 30 per cent, and the sales of copper, iron, steel, lumber and leather fell off by from 17 to 50 per cent. American-made / machinery registered a 5 per cent ifiT" crease, but it was sent to countries now planning to make themselves independent of the United States. The Department of Commerce figures indicate that foreign countries, seeing their products barred out of the United States, are beginning to hit back even before the new tariff becomes law.