Abroad: A Trade Balance of $970 Millions Washington, May 13. he United States is now the {world's greatest investor," declares Mr. Herbert Hoover, Secretary of Commerce, in the annual report the Commerce Department showing. the result of foreign trade and fin-Jancial exchanges in 1924. The total American investments abroad infereased by $1,000,000,000 to over The cost of bootlegged foreign liquors is estimated at $10,000,000. The inereace in the deposits of for-Jeigners in American banks was '$216,000,000. The remittances of immigrants to their homes amounted 0 $300,000,000. American mis-nary and charitable expenditure jabread amounted to $55,000,000.
The United States in 1924 established a credit total of $5,790,000,009 for goods and services rendered jcbroad, while foreigners earned jeredits in America, amounting 22 $6,182,000,000, including the credit "arising from Americans. ending to foreign borrowers. The difference is largely recounted for by—$216,000,000 left on deposit in the banks by for~ Jeign borrowers and traders against fature drafts.
Mr. Hoover says that the position of the United States in international finance is stronger than "AS regards imports and exports. of goods, the report shows that the United States had a favourable jeommodity trade Lalance of $970,- }000,000 for the year, while the United States imported $258,000, 000 worth more gold than was exported, and exported $36,000,000 worth more silver than was import jed—Reuter's American Service.
Text read from the printed page and cleaned; old type leaves the occasional error.