The Balance of Trade.-The gen- | the South American and Asiatic eral movement of the balance of markets the greatest shortage. The trade since 1900 is shown in the fol- unfavorable balance in South Amerlowing table: ica is found chiefly in Brazil; while 1900. 1901. 1905. $849,941,184 $1,394,483,082 $544,541,898 $929,770,670 $1,499,462,116 $569,691,446 823,172,165 1,487,764,991 664,592,826 925,609,873 1,605,235,348 679,625,475 1,117,513,071 1,518,561,666 401,048,595 1,198,646,897 1,660,004,502 461,357,605 1906. 1,226,562,446 1,743,864,500 517,302,054 1,367,226,716 1,848,307,154 481,080,438 1907. 1,434,421,425 1,880,851,078 446,429,653 1,591,878,298 1,988,989,327 397,111,029 1908. 1,194,341,792 1,860,773,346 666,431,554 1,387,337,210 1,991,127,472 603,790,262 1909. 1,311,920,224 1,663,011,104 351,090,880 1,399,879,023 1,810,225,714 410,346,691 1910. 1,556,947,430 1,744,984,720 188,037,290 1,645,504,529 1,918,834,796 273,330,267 1911. 1,527,226,105 2,049,320,199 522,094,094 1,646,770,367 2,136,579,810 489,809,443 The balance of trade turned in favor of the United States in the later seventies and gradually in creased in magnitude until it reached its maximum of $679,625,475 in 1901. In normal years since then the balance declined very materially, but the last fiscal year has checked this tendency. The excess of exports over imports of merchandise in 1911 was $522,094,094, compared with $188,037,290 in the previous year; and the excess of exports of merchandise and specie combined was $489,809,443, as compared with $273,- | 330,267. The European, North American, Oceanic and African markets afford the greatest excess of exports, and Argentina is a notable exception to the South American trade situation, the United States having a favorable balance of $14,827,779. European countries shipping to more than they purchase from the United States in 1911 are Bulgaria, Greece, Norway, Portugal, Servia, Sweden, Switzerland and Turkey. The trade balance in the Oceanic and African trade favors the United States. The leading non-European nations in which the balance of trade is unfavorable to the United States are Cuba, China, Japan, British East Indies, Asiatic Turkey, Egypt, Brazil, and all the leading South American countries except Argentina, Uruguay and Venezuela. EXPRESS COMPANIES In 1908, the Interstate Commerce Commission reported 85 express companies doing an interstate business; and in 1907, the United States Census Office published detailed returns from 34 companies. (See AMERICAN YEAR Book, 1910, p. 531.) A uniform system of express-company accounts, promulgated by the Interstate Commerce Commission, became effective on July 1, 1908, and during the past year the first detailed report under this system was published. The statistical information contained in the report, however, covers only the 13 leading companies, and is as for the year ending June 30, 1909. The total mileage covered by the operation of the 13 companies (Adams, American, Canadian, Canadian Northern, Globe, Great Northern, National, Northern, Pacific, Southern, United States, Wells, Fargo and Co., and Western Express companies) was 260,507 miles, of which 238,961 was over steam railroads, 6,414 miles electric lines, 14,138 over steamboat lines, and 994 over stage lines; 12,952 miles were located in Canada, 6,819 in Mexico, and the remainder in American territory. The total cost of their real property and equipment was $22,313,576 in 1909 and $20,965,767 in 1908. Their total gross receipts from operation in 1909 were $132,599,190; operating revenues, $68,567,064; Of operating expenses, $56,273,055; The accompanying table shows the leading statistical items of the report distributed among the 13 separate companies. The tonnage statistics cover but three months, April, August and December. During these months 71,013,295 pieces, weighing 2,329,342,192 pounds, were handled. During the fiscal year 1909, the 13 companies also issued 11,992,413 express money orders, valued at $124,303,150; 1,023,723 travelers' cheques, valued at $24,589,631; 4,867,353 C. O. D. checks, valued at $52,751,369; 10,191 telegraphic transfers, valued at $1,766,078; 643 letters of credit, valued at $1,685,512; and 630,762 miscellaneous financial papers, valued at $169,217,185. The Interstate express rates have since 1906 been subject to supervision by the Interstate Commerce Commission. The classification at present in force is the "Official Express Classification, No. 20," effective Oct. 1, 1910. principal express tariffs are the "Airy Local and Joint Merchandise Express Tariffs," which have been jointly adopted for shipments between common points. Rates in individual instances have been revised by the Interstate Commerce Commission, the leading cases being Kindel vs. Adams Express Company, et al., 13 I. C. C., Rep. 475 (1908); Ullman vs. Adams Express Company, 14 I. C. C., Rep. 340 (1908); Maricope County Commercial Club vs. Wells, Fargo & Company, 16 I. C. C., Rep., 182 (1909); and Boisé Commercial Club vs. Adams Express Company, et al., 17 I. C. C., Rep., 115 (1909). The great increase in the annual | registry and money-order business; expenditures is distributed among (10) a reorganization of city forces; the various services as follows: and (11) the adoption of a lighter Each of these items has greatly increased over the year 1900. As between the years 1910 and 1909, there was an increase in each of the great items except that of railway mail pay. Improvements in Organization and Methods. A striking change is the decline in the deficit from $17,441,720 in 1909 to $5,848,567 in 1910. This reduction was accomplished not by a curtailment of postal facilities, but by improvements in organization and methods. Among these improvements may be mentioned: (1) the consolidation of the divisions having charge of the rural-delivery and star-routes services; (2) the consolidation of the several groups of field agents under one inspector; (3) the abolishment of an accounting division which largely duplicated the work of the auditor; (4) the introduction of better accounting methods; (5) the requirement that "postmasters shall account for the surplus revenue derived from the sale singly and in odd lots of stamped envelopes and newspaper wrappers at prices higher than are charged the postmaster on the issue of such envelopes and wrappers in thousand lots"; (6) the investigation of "the cost of handling and transporting mail of the several classes and of conducting the moneyorder, registry, and special delivery services"; (7) a successful investigation into the cost of carrying mails to the railroads, and a readjustment of railway mail pay; (8) the adoption of the plan of returning undeliverable second-class matter at third-class rates: (9) the introduction of numerous changes in the mail pouch and of repairing western pouches at Chicago. The Postmaster-General enumerates 50 distinct changes in organization and methods tending to reduce costs or increase postal revenues. It is again evident that secondclass mail matter is chiefly responsible for the postal deficit. Approximately 873,412,077 lb. of secondclass matter was handled, an increase of 12.72 per cent. over the previous year. The postage paid on this amounted to $8,177,729, or $62,438,645 less than the cost of transporting and handling the same. The number of post offices on June 30, 1910, was 59,580, as compared with 60,144 one year previous. This decline was largely due to the extension of the rural mail-delivery service and of its consolidation with the star-route service. Postal Savings System.-An act of June 25, 1910, authorized a newly created board of trustees to inaugurate a postal-savings system. The first deposits were received on Jan. 1, 1911, at one post office in each state and territory. Since then the system has been widely extended. Deposits are now received at the rate of a million dollars per week. (See XIV, Banking.) The Parcels Post.-The international parcels post system was further extended during the past year to Hungary, Dutch Guiana and Brazil and negotiations were begun with Haiti, Santo Domingo, Argentina and the South African colonies. It now covers most of the civilized world. During the fiscal year 1910, 1,490,718 lb. of parcels-post mails were dispatched from the United States, or 31 per cent. more than in | on rural mail routes. The claim the previous year. 1,446,357 lb. made is that delivery of parcels were received from foreign countries, weighing 11 lb., the weight limit for an increase of 28 per cent. the international parcels post, would not require an increased number of rural mail carriers or equipment, would result in increased revenues, and would ultimately result in the adoption of a general parcels-post system. Renewed efforts were made in Congress to introduce a domestic parcels-post system, but without final success. The Postmaster-General of the United States recommends the adoption of the parcels-post system TELEGRAPHS AND TELEPHONES Complete returns for the entire | American (Bell) Telephone and TeleUnited States are not available graph Co., has acquired more of the since the Census office report for the smaller telephone concerns during fiscal year 1907. (See AMERICAN the past year and has largely exYEAR BOOK, 1910, p. 534.) Current tended its operations. Arrangereturns of the leading companies, however, show the progress that has been made during the fiscal year 1910. (See XXXII, Electrical Engineering.) Telegraphs: the Western Union.The principal business operations of the Western Union Telegraph Co., which largely controls the telegraph business of the United States, are shown in the following table: ments were also made with telegraph companies for the joint use of telegraph and telephone facilities. Telegraphic messages can now be dictated by telephone for transmittal to distant telegraph offices; and such messages can likewise be received by telephone. The increased operations of the company for the years ending Dec. 31, 1909 and 1910, are summarized in the following table: Operating ex penses and taxes Net earnings.. Other income. ... $30,541,073 2,739,435 The Postal.-Another of the large telegraphic concerns is known as the Mackay Companies, a voluntary association of many allied telegraph companies. It controls the Commercial Telegraph Cable Co., which in turn controls the aggregation of land lines known as the Postal Telegraph. In 1910, the Postal Telegraph operated 374,666 miles of wire, with 62,223 miles of pole line. Telephones: the American Bell.The dominant telephone concern, the Dividends. *Including more subsidiaries than in AMERICAN YEAR BOOK for 1910. † Including stations of local, 'cooperative and rural independent lines associated with or acting as connecting lines. In 1910, such stations numbered 1,806,685. In addition to the Bell companies, the American Telephone and Telegraph Co. controls numerous other telephone concerns. The combined operations of the entire Bell system (not including the Western Union Telegraph Co.) excluding all duplications, are shown in the following table for the years ending Dec. 31, 1909 and 1910: |