AGRICULTURAL SURVEY OF EUROPE: GERMANY 
63 
This accumulation of stocks continued during the next season, 
1922-23. The total production within the Republic was 1,603,933 
short tons (see Table 47), or 51.5 pounds per capita. In spite of this 
surplus production, Germany imported 114,618 short tons. During 
this season 12,125 short tons were sent to Italy on reparations 
account and approximately 55,115 short tons were confiscated by 
the French from factories in the occupied districts and 19,478 short 
tons were exported. There was during this sugar year a supply of 
1,517,691 short tons, or 48.7 pounds per capita, available for domestic 
use (population 1923 estimated at 62,275,000). There is a dis- 
crepancy in German official sugar figures (see footnote 16 on Table 48), 
and during this season 84,006 short tons are dropped from the records. 
Only one conclusion can be drawn: Faced with conditions of a 
wildly fluctuating currency and precarious banking facilities, the 
Germans invested in sugar as a safe means of accumulating wealth, 
awaiting a stabilization of the currency to realize on their investments. 
Table 46. — Sugar, raw and refined, in terms of raw: Foreign trade 
1921-22 to 1923-24 
of Germany, 
Country 
Years beginning July 1 
1921 
1922 
1923 
United States .. 
Short tons 
+27, 653 
+27, 639 
+17, 109 
+4, 653 
+4,290 
+4, 066 
+3, 617 
+3, 454 
+3, 135 
+2, 387 
+1,-654 
+741 
+718 
-10,742 
+5, 568 
Short tons 
+67, 093 
+31,111 
+3, 808 
+1, 358 
+20 
+5, 627 
+28, 094 
+7,034 
+2, 051 
+ 18,511 
+798 
+19, 926 
+6, 771 
-8, 907 
+19, 855 
Short tons 
( 2 ) 
-46,445 
Czechoslovakia.. ... .... . _ .. .. 
( 2 ) 
Belgium... . ...... . . . ... . 
( 2 ) 
Sweden 
( 2 ) 
Danzig .. ..... 
( 2 ) 
Dutch Indies.. 
+2, 891 
Brazil ......... . ... . 
( 2 ) 
Great Britain ... ... . . .. 
( 2 ) 
Cuba 
( 2 ) 
Dominican Republic . 
( 2 ) 
Poland. 
(-') 
Denmark . . 
( 2 ) 
Saar district _■ 
Other countries ... . __ .. ... 
-8,269 
-104,951 
Total 
+95, 942 
+203, 150 
- 156, 774 
Germany, Statistisches Reichsamt, Montaliohe Nachweise iiber den Auswartigen Handel Deutsch- 
lands. 
Note. — Refined sugar converted to raw sugar at the ratio of 9 : 10. 
1 Net imports are indicated by (+) and net exports by (-). 
! If any, included in other countries. 
UNLOADING ACCUMULATED STOCKS 
With the stabilization of the currency in the fall of 1923 came the 
opportunity to realize cash for accumulated sugar. The season of 
1923-24 was not specially favorable to the sugar industry, being 
77.2 per cent of normal (1912-13) as regards acreage, 53 per cent as 
regards factory run, while the total production of beet sugar was 
52.2 per cent of that of 1912-13. The supply produced in 1923-24 
amounted to 40.2 pounds per capita (1924 population, 62,825,000) or 
4.8 pounds per capita below pre-war average normal. In spite of 
this shortage in production, the sugar industry exported 257,028 net 
tons of sugar during the 1923-24 season. 
