Commerce Year Book

The Department of Commerce published its Commerce Year Book (for 1924) and Herbert C. Hoover wrote the preface.

His theme was: The American people have little right to complain about our economic situation during the year 1924.

He particularized:

Transportation -- Increasing efficiency.

Building Construction -- Largest volume in history.

Shipping--Improving but not yet stable.

Bituminous Coal--Difficulties due to overexpansion.

Agriculture--Better prices tending up to the general level of commodity prices.

Foreign Trade--10% increase in exports ; 5% increase in imports.

Production--60% (by volume, not prices) greater than in 1914, accompanied by an increase of 50% in the amount of power used and an increase of only 25% in the number of wage earners.

Wages--Continued 100% higher than 1913, although cost of living was only 70% greater.