last week's, article the rubber outlook was examined from the point of view of supplies.
We must now consider the prospects on the consuming side and in doing so we, perforce, Teave the realm of exact knowledge for that of surmise.
It is often said that America accounts for half the world's consumption of rubber and this is substantially borne out by the figures for, the past few years. Ten years ago, however, she took nearly two-thirds so that her relative importance is tending to decline. The same point is brought out by a comparison of actual con~ sumptions in 1927 and in 1937.
In these ten years American demand increased from 373,000 tons to 543,000 tons, ie. 170,000 tons or 46 per cent. while for all other countries together the increase is from 224,000 tons to 548,000 tons, that is, 324,000 tons or 144 per cent, Clearly, the use of rubber is expanding faster in other countries.
Another well-marked trend is for the proportion of rubber employed outside of tyre manufacture to en-Targe as new Uses are found for st. In. the United States, rubber 50 absorbed has risen from 20 per cent. to 25 per cent. in the last five years. 'This decentralization, so to speal consumption both' geographical fand industrially has been a continu-Ing tendency since the early days when the demand was almost entire ly. dependent on the needs of the type manufacturers, and will strengthen and stabilize the structure fof the industry. Together with the observed secular increase in con Sumption st is the best guarantee of the future of Rubber as a long-term land the technical position should improve as stocks of raw and manufac-[tured goods fall away. Every depres sion, in the capitalist system, bears within itself the seeds of ultimate recovery and all that governmental agencies can do is to hasten or retard it. It may be permissible to expect that the Administration will continue to find itself forced by the pressure Jot events to modify its injurious policies towards business.
Text read from the printed page and cleaned; old type leaves the occasional error.