THE CAUSE OF THE DEPRECIATION OF THE AMERICAN DOLLAR ABROAD

The imports and exports from the United States in 1917 amounted to over

nine billion dollars. The exports amounted to six billion, two hundred

and thirty-one million; the imports to two billion, nine hundred and

fifty-two million, with a favorable balance of trade to the United

States of approximately three billion, one hundred and eighty million.

I submit on the following pages a table of these imports and exports:

--------------+-------------------------+-----------------------------

| Month of December— | 12 months ended December—

Exports to— +------------+------------+--------------+--------------

| 1917 | 1916 | 1917 | 1916

--------------+------------+------------+--------------+--------------

Grand | | | |

divisions: | | | |

Europe |$323,690,436|$349,558,509|$4,054,362,029|$3,813,278,324

North America| 155,135,812| 93,285,797| 1,264,688,666| 924,553,649

South America| 33,700,646| 22,787,859| 312,420,985| 220,266,818

Asia | 60,465,901| 42,447,145| 431,149,591| 364,959,155

Oceania | 14,591,876| 9,751,896| 117,158,921| 105,572,649

Africa | 6,279,609| 5,402,574| 51,464,784| 54,010,506

|------------+------------+--------------+--------------

Total | 593,864,280| 523,233,780| 6,231,244,976| 5,482,641,101

|------------+------------+--------------+--------------

Principal | | | |

countries: | | | |

Austria- | | | |

Hungary | .... | .... | .... | 61,771

Belgium | 8,400| 6,691,023| 22,628,659| 30,998,928

Denmark | 134,363| 4,165,928| 32,388,864| 56,329,490

France | 73,564,381| 58,706,507| 940,810,070| 860,821,006

Germany | .... | 1,142,353| 3,275| 2,260,634

Greece | 1,030,494| 1,431,702| 8,477,603| 33,685,689

Italy | 46,162,066| 37,974,651| 419,095,473| 303,530,476

Netherlands | 7,899,931| 11,345,624| 90,520,301| 113,730,162

Norway | 1,668,338| 4,234,745| 62,866,850| 66,209,717

Russia | | | |

in Europe | 816,462| 23,097,932| 314,639,528| 309,806,581

Spain | 10,159,988| 6,577,521| 92,409,320| 64,316,888

Sweden | 503,364| 5,900,309| 20,900,854| 47,967,590

United Kingdom| 177,433,009| 185,209,430| 2,001,031,104| 1,887,380,665

Canada | 101,767,255| 60,939,523| 829,972,331| 604,908,190

Central | | | |

America | 4,861,129| 4,008,658| 52,206,466| 46,531,841

Mexico | 15,485,408| 4,415,374| 111,111,541| 54,270,283

Cuba | 24,652,166| 18,846,295| 196,350,315| 164,666,037

Argentina | 11,553,945| 7,192,128| 107,641,905| 76,874,258

Brazil | 6,566,030| 5,210,987| 66,207,970| 47,669,050

Chile | 7,586,866| 3,919,899| 57,483,996| 33,392,887

China | 6,366,898| 3,645,538| 40,208,612| 31,516,140

British East | | | |

Indies | 7,290,060| 3,775,091| 42,746,749| 30,799,916

Japan | 40,199,201| 14,821,946| 186,347,941| 109,156,490

Russia in Asia| 525,675| 16,540,391| 109,169,243| 160,701,673

Australia and | | | |

New Zealand | 6,474,755| 7,351,503| 76,909,225| 81,305,968

Philippine | | | |

Islands | 7,804,316| 2,268,853| 38,148,726| 22,775,491

British Africa| 5,215,449| 2,508,294| 39,023,443| 32,448,177

--------------+------------+------------+--------------+--------------

-------------------------------------------------------------------

_Statement of imports and exports,_

_12 months ended December, 1917._

-------------------------+-------------+-------------+-------------

| Exports. | Imports. | Balance in

| | | our favor.

-------------------------+-------------+-------------+-------------

Netherlands | $90,520,301 | $22,744,504 | $67,775,797

Norway | 62,866,850 | 6,280,233 | 56,586,617

Spain | 92,469,320 | 36,881,630 | 55,587,690

Sweden | 20,900,854 | 18,069,487 | 2,881,367

-------------------------+-------------+-------------+-------------

----------------------------------------------------------------------

DEPARTMENT OF COMMERCE,

BUREAU OF FOREIGN AND DOMESTIC COMMERCE,

_Washington, February 4, 1918_.

Foreign Exchange · 第 13 / 27 题