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Jan. 1921
Feb. 1921
March 1921
April 1921
May 1921
}une 1921
uly 1921
1,436 1,372 1,334 1,323 1,306
1,365 1,425
238
May 1920 1,502
June 1920 1,377
uly 1920 1,363
Aug. 1920 1,446
Sept. 1920 1,495
Oct. 1920 1,462
Nov. 1920 1,506
Dec. 1920 1,437
This index, however, is also influenced by statutory prices. In free commerce prices rose in some instances fifty- and sixty-fold. The situation, of course, was always subject to the course of depreciation in the value of the mark, German prices tending to rise as the value of the mark abroad fell and vice versa.
Commerce. In 1902 an entirely new tariff law was adopted and came into force in 1906, when certain commercial treaties expired. By the Treaty of Versailles, however, some of the fundamental principles of the German customs tariff system were interfered with. Goods from regions formerly German are now duty-free or enjoy preferential treatment. Germany's freedom to conclude commercial treaties is restricted by the provision that most favoured treatment granted to any country by Germany is automatically extended to the Allied and Associated Powers. As a general rule, however, the German arrangements which were in force before the World War remained valid.
In accordance with the industrial development of Germany and the necessity of exporting on a large scale, and thanks to the diligent activities of German merchants and engineers, German foreign trade underwent an immense expansion up to the year 1914. In "special trade," inclusive of bullion, German imports had risen (in millions of marks) from 9,130 in 1910 to 11,206 in 1913, and ex- ports from 7,644 to 10,198. But on the outbreak of the WorH War German foreign trade collapsed. The complete severance from the world market caused by the blockade confined Germany to an ex- tremely limited coastal trade with the northern neutral countries. For 1919 the imports were valued officially at 32,376 million marks, and the exports at 10,057 millions; but these amounts cannot be compared with the statistics for former years, since the values they give are in depreciated paper marks. Only by reducing paper marks tp gold marks can comparable amounts be obtained. This applies in a still greater measure to the values given for the year 1920. The exports for the year 1920 figured out at about 69-3 milliards of paper marks. No figures were issued for imports. To form an idea of the extent of Germany's foreign trade in 1920 as compared with that before the war a closer examination must be made of the different kinds of goods and the quantities imported and exported.
Imports. Germany, a country with a population much too large in proportion to its agricultural production, and with industriesalso too extensive by comparison with its natural resources, has, as a natural consequence of this situation, an import trade which con- sists principally of food-stuffs, raw materials and half-manufactured goods. In 1913, of the total value of the imports 45-2% was raw materials, 10-7% half-manufactured goods, and 26-3 % food-stuffs and luxuries. The total value of the above amounted to 9,572-3 million marks. The import of finished goods was only 10-7% of the total imports and amounted in value to 1,246-1 million marks. In 1920 there had been no fundamental change m the relative pro- TABLE XI. Imports and Exports of Fond (in douhle-cwt.).
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1913
1920 (Jan.-Oct.)
Import
Export
Import
Export
Wheat
25,459,586
5,383,130
5,914,801
21,037
Rye . Rye and wheatmeal . Potatoes . Fresh vegetables Fruit and tropical
3,525,339 188,687 3,820,496 3,089,812
9,344,634 4,198,571 3,324,725 532,104
4,041,258 781,013 7,308,092 1,985,014
12,848 282,852 573,961 310,273
fruits
10,025,799
303,327
2,022,319
52,185
Wine ....
!, 303.367
208,342
865,493
Canned delicacies
7L556
8l,779
1,207,446
21,371
Rice ....
4,775,998
1,843,536
1,270,256
10,010
Beans, peas, lentils . Barley and oats
2,119,870 37,432,455
120,295 6,677,568
1,765,431 774,486
46,376 51,018
Maize ....
9.186,553
346
4,089,317
II
Beef, veal, pork, mut-
ton, goats' flesh
549,325
16,605
1,390,352
1,017
Bacon
16,498
366
816,508
54
Lard .
1,073,869
169
1,234,132
Milk .
771,982
167,733
292,114
14,504
Butter
542,394
2,732
78,141
1,946
Cheese
262,646
7,270
228,357
784
Oil and vegetable
fats .... Margarine and arti-
483,918
242,575
852,326
10,041-35
ficial fats
989
533,013
640,670
12,370
Sugar ....
27,670
11,262,170
982,948
68,259
Fish, fresh,
1,685,057
170,238
smoked, salted (bar.)
Tobacco
1,298,119 813,998
5,521 4,339
4,836,728 834,566
23,353 3,342
portions of these imports. The figures for food-stuffs are somewhat more prominent, while for finished goods they are rather less. Table XI shows the imports and exports of the principal food-stuffs for 1913 and 1920 respectively.
It is noteworthy that the import of grain (flour being reckoned in the corresponding quantities of grain) in 1920 almost exactly corre- sponded to the quantity required in 1913, taking into account the diminution of territory in 1920; and further that the import of potatoes, pulse, sugar, meat and fats had risen enormously.
Table -XII shows the imports and exports of raw materials.
TABLE XII. Imports and Exports of Raw Materials (indouble-cwt.).
1913
1920
Import
Export
Import
Export
Mineral oils .
12,943,547
334,604
4,201,901
73,279
Iron manganese .
160,151,493
27,772,847
64,504,207
1,605,200
Copper ore Pyrites and pyritic
275,950
252,211
1,083,114
29,038
ores
10,257,321
282,141
4,785,097
26,641
Raw iron
1,243,161
7,829,108
979,994
1,259,216
Copper . Aluminium
2,253,920 153,225
72,037 27,032
595,217 78,221
63,455 28,639
Lead
837,810
413,694
173,066
87,577
Tin ....
142,606
64,374
45,362
2,261
Zinc
559,642
1,052,435
5,268
278,776
Cotton .
5,211,280
525,834
1,498,793
6,753
Flax.
932,223
432,069
17,435
3,827
Hemp
616,966
89,434
l6 i,775
380
Jute
1,620,634
78,216
505,217
8,603
Wool
1,992,713
168,641
524,890
5,5i8
Silk ....
43,039
7,730
12,187
J-997
Hides Rubber .
2,765,744 237,806
824,724 46,012
601,819 127,910
19,081 , 1,289
China clay Rough wood
3,031,063
12,848,734
420,576 668,801
1,311,016 648,764
312,125 367,982
Coal Lignite .
105,400,694 69,870,647
345,984,084 603,451
2,629,370 23,406,957
73,049,823 722,993
In the import of raw materials a great diminution is apparent in the figures for 1920.
Exports. The fact that the expansion of Germany's exports be- fore the war was due, not to the possession of raw materials so much as to industrial enterprise and labour, is of decisive importance in estimating the effects of her defeat and of the Peace of Versailles. If the 132 milliards of gold marks which were demanded from Germany by way of reparations were to be paid, this could only be done by increased achievements on the part of German labour in the creation of goods for export. Among German exports in 1913 the value of metal goods (machinery, etc.) stood first, at more than 3 milliard marks, or, roughly, three-tenths of the total. In 1920 they repre- sented three-eights. The imports in this class in 1913 amounted only to 830 million marks, leaving a large credit balance. The next highest group of exports in point of value is that of the products of agriculture and forestry, and other animal and vegetable products, food-stuffs, etc., to the total of 1,728-2 million marks. It is counterbalanced, however, by imports of the same categories to the value of 7 mil- liards of gold marks. Only the products known as those of the " secondary agricultural industries " show a balance in favour of exports, particularly flour of all kinds; pearl barley, corn flour, ground- nut oil, palm-kernel oil, coconut oil, potato starch, stiff rubber, beet-root sugar, beer and mineral waters. In the third highest group of exports, that of manufactured animal and vegetable fibres and goods made of these, to the total value of 1,560-6 million marks in 1913, there was a considerable excess of exports over imports, more than 700 million marks in all. In these exports woollen and cotton goods took the first place. The export of woollen and cotton goods alone amounted to almost one milliard marks in value. The situation was equally favourable in other groups: chemical and pharma- ceutical products; dyes and dyeing materials; leather and leather goods; furriers' goods; catgut goods; paper and pasteboard, and goods made therefrom; rubber goods, etc. It is only in the large group of mineral raw materials and mineral oils that an export of 869-8 million marks in 1913 was set off by a larger amount of im- ports, 1,087-3 million marks.
In 1920 the proportions of the different groups had considerably altered. The second place was no longer occupied by the products of agriculture and forestry, but by chemical products, dyes and dye- stuffs. These are followed by textiles and mineral raw materials. Next come agricultural and forestry products, and the other groups. The exports of the most important goods in 1913 and 1920 (Jan.- Oct.) are compared in Table XIII.
Before the war, the share of the different countries in Germany's foreign trade was proportionate to their supplies of goods and raw material and to their demand for finished goods. Russia took the first place for imports into Germany from European countries. Ger- man exports to Russia were correspondingly large. Great Britain, Austria and France were the next most important sources of im- ports. Then a long way after came Belgium, Holland and Italy; and at the bottom of the list Sweden, Switzerland, Spain and
