贸易活动的证据。
贸易活动的证据,并鼓励conditions in industries in this country is seen in the huge trade balances and in the railroad earnings. In connection with the trade balance. the New York “Press,” in the course of a recent editorial, said: “The outside world was not disturbed by our excess of exports over imports in the first six months or so of the war. On the contrary, it was exactly what the outside world wanted. We Owed large current balances abroad: we were settling them with commodities, the very commodities for which all the world was clamoring. We also sent gold, but the foreign countries didn’t want our gold; they wanted our wheat and cotton and meat products and munitions and other supplies. When we began to send these commodities at a rate which gave us favorable trade balances of very much more than $100,000,000 a month the outside world, Europe in particular, still was not hard put to it to take care of the net balance in our favor. First we had to wipe out with them $300,000,000 of current balance against us. All the while there were running up against us abroad charges for interest and dividends on American securities owned by foreigners, freight bills owed by us to foreign shipping, and other considerable items, in spite of the fact that the great bulk of spending abroad by American tourists had ceased and that there was a heavy decrease of remittances by our alien population back to their home countries. But in contradistinction to the fiscal year ending with June 30 here is the way the thing is working in the calendar year ending December 31 next: When July ends the foreign trade balance in our favor for these seven months of the calendar year will not be far, one way of the other, from $900,000,000. In these seven months the interest and dividends owed abroad by us on American securities owned by foreigners will have run probably $25,000,000 a month, or a total for the seven months of $175,000,000. Ocean freight bills and other charges against us by foreigners probably will have run another $20,000,000 a month against us, or $140,000,000 for the seven months. After these deductions from our trade balance this will have left still standing in Our favor for the seven months of trade some $585,000,000. Meanwhile, in an effort to help out on settlements, the outside world has been sending us gold which by the end of this month will probably show from January 1 a total of $135,000,000. All these deductions, on the first day of August, will leave us to the good, for these seven months of the calendar year, some $450,000,000.” The Interstate Commerce Commission last week announced the earnings of all the railroads in the country for May and for the eleven months of the last fiscal year ending with May. The figures show an operating income of $258 a mile for the month of May, as against $195 a mile for May of 1914. Those of the East show $481 a mile, as against $317 last year; those of the South $200 a mile, as against $174, and those of the West $174 a mile as against $145. These favorable results, however, were largely the result of rigid economies practiced on all lines and the widespread reduction in taxes. For the eleven months ending May 31, the railway operating Income for the whole country amounted to $2,848 a mile, as against $2,824 a mile for the same period of the year previous. In the East the income was $4,495 a mile, as against $4,030; in the South $2,084, as. against $2,414, and in the West $2,348, as against $2,399 for the eleven months. The total revenue from operation on all the roads in May was $237,976,- 843, and for the eleven months was $2,639,491,- 765. The total operating expenses for the country in May amounted to $167,500,891, and for the eleven months, $1,865,542,337. The net revenue from operations for May amounted to $70,375,952, and for the eleven months, $773,949,419.
贸易活动的证据,并鼓励conditions in industries in this country is seen in the huge trade balances and in the railroad earnings. In connection with the trade balance. the New York “Press,” in the course of a recent editorial, said: “The outside world was not disturbed by our excess of exports over imports in the first six months or so of the war. On the contrary, it was exactly what the outside world wanted. We Owed large current balances abroad: we were settling them with commodities, the very commodities for which all the world was clamoring. We also sent gold, but the foreign countries didn’t want our gold; they wanted our wheat and cotton and meat products and munitions and other supplies. When we began to send these commodities at a rate which gave us favorable trade balances of very much more than $100,000,000 a month the outside world, Europe in particular, still was not hard put to it to take care of the net balance in our favor. First we had to wipe out with them $300,000,000 of current balance against us. All the while there were running up against us abroad charges for interest and dividends on American securities owned by foreigners, freight bills owed by us to foreign shipping, and other considerable items, in spite of the fact that the great bulk of spending abroad by American tourists had ceased and that there was a heavy decrease of remittances by our alien population back to their home countries. But in contradistinction to the fiscal year ending with June 30 here is the way the thing is working in the calendar year ending December 31 next: When July ends the foreign trade balance in our favor for these seven months of the calendar year will not be far, one way of the other, from $900,000,000. In these seven months the interest and dividends owed abroad by us on American securities owned by foreigners will have run probably $25,000,000 a month, or a total for the seven months of $175,000,000. Ocean freight bills and other charges against us by foreigners probably will have run another $20,000,000 a month against us, or $140,000,000 for the seven months. After these deductions from our trade balance this will have left still standing in Our favor for the seven months of trade some $585,000,000. Meanwhile, in an effort to help out on settlements, the outside world has been sending us gold which by the end of this month will probably show from January 1 a total of $135,000,000. All these deductions, on the first day of August, will leave us to the good, for these seven months of the calendar year, some $450,000,000.” The Interstate Commerce Commission last week announced the earnings of all the railroads in the country for May and for the eleven months of the last fiscal year ending with May. The figures show an operating income of $258 a mile for the month of May, as against $195 a mile for May of 1914. Those of the East show $481 a mile, as against $317 last year; those of the South $200 a mile, as against $174, and those of the West $174 a mile as against $145. These favorable results, however, were largely the result of rigid economies practiced on all lines and the widespread reduction in taxes. For the eleven months ending May 31, the railway operating Income for the whole country amounted to $2,848 a mile, as against $2,824 a mile for the same period of the year previous. In the East the income was $4,495 a mile, as against $4,030; in the South $2,084, as. against $2,414, and in the West $2,348, as against $2,399 for the eleven months. The total revenue from operation on all the roads in May was $237,976,- 843, and for the eleven months was $2,639,491,- 765. The total operating expenses for the country in May amounted to $167,500,891, and for the eleven months, $1,865,542,337. The net revenue from operations for May amounted to $70,375,952, and for the eleven months, $773,949,419.
