Growth of the Industry
It has only been during the last fifteen years that artificial silk has been a very important factor commercially, although for a few years before that time, small quantities were produced in Europe. Since about 1910 its use has been steadily growing in this country, the importations from Europe increasing in 1912 from about one and one-half million pounds to nearly three million pounds in 1914. Since 1910 domestic production has also become a factor in the market and numerous factories have been established, the figures for 1923 showing about 33,000,000 pounds output. It is estimated that in 1922 the combined importations and domestic production amounted to around 20,000,000 pounds, about 50% of the total consumption of natural silk for that year.
U. S. Production
The following figures show the production of artificial silk in the United States in 1913 and between 1920 and 1923:
| 1913 | 1,566,000 | pounds |
| 1920 | 8,000,000 | ” |
| 1921 | 15,000,000 | ” |
| 1922 | 24,000,000 | ” |
| 1923 | 33,000,000 | ” |
IMPORTS OF RAW SILK
Into the
UNITED STATES OF AMERICA
Calendar Year 1914-1923
Courtesy of The Silk Association of America
THE INTERNATIONAL ACCEPTANCE BANK, INC. AND THE SILK TRADE
The International Acceptance Bank, Inc., finances annually the importation of millions of dollars worth of Silk from China, Japan, and Italy.
The International Acceptance Bank, Inc., can offer exceptional facilities for opening commercial letters of credit in the Far East by reason of its large net-work of correspondents, and particularly because of its close relation to the Netherlands Trading Society, with branches throughout the Far East, which is one of its leading shareholders. Through its close relationship with this institution, and with many other Eastern banks, The International Acceptance Bank, Inc., can obtain for its clients a highly efficient service and can give them the benefit of the confidential information which it receives.