The sun. [volume] (New York [N.Y.]) 1833-1916, 1903-06-04
THE OTHER NINETY PER CENT.
Extension OF American Banking as An Aid
to Extension OF Trade.

To TIRE EDITOR OF The SuN-Sir: Your
article under the above caption In Saturday 8
edition Is most timely. or the total importa-
ton Of manufactured articles into all the mar
kets Of the world you remind US that this
country shares to the extent Of only 10 per
cent, and you point out how necessary it is,
10 face Of the ever-increasing volume Of our
manufactured products. that we should ana
lyze cond itions and study methods by which
some portion OF that 90 per cent. OF trade which
goes to our competitors may be Insured to
this country
This subject derives further Importance
from the discussion At present going on In
England as to the propriety of imposing pro-
tective preferential tax on the food stuffs eaten
BY the people Of that country.
Your article suggests the question: What
are the successful conditions and methods to
which reference Is made. and how shall we
recognize them?" A very able and SUFFICIENT
report published in the financial Journals this
before the missouri, Bankers Association. a!
The International Banking Corporation OF New
York city In his address, Mr.. Meyer traced in
very Instructive ma nan the conditions q
which the ordinary community has to pass in
the process of It's development from It's print
with capital a drug on It's hands, and rates
domestic consumption. and a foreign market
Mr: Meyers address Is headed How Can
Forelen. Commerce Benefit the American
6n. b. admits that In order to
Banker Dc !, tob build up and extend on iorsisn
In ans wering the latter question Mr.. Meyer
clearly shows that in order to extend this
foreign business u is necessary that the coun-
own nationality in those lands with which it
proposes to do business. No foreign bank
hsPds our 0rssn
banks. b. means Of foreign branches or agen-
cies, must be able to follow our foreign trade
was the Of " ths
talate moro than nifty years ago by England
and later on by Germany. that has secured for
in those foreign lands with which they do
business. and has enabled them to supply
IS and 70 per cent. rrsspectiyeiy. Of the total
the markets Of the world, as compared with
our own 10 per cent.
case Of The Oriental trade. in which Ii. bank INK
is more Immediately interested. In the follow
ing words: "Ensland has scarcely bank
nected with one or other Of the great Anrlo-
Oriental banks, In all the advertisements
Of those Oriental banks long list OF domestic
eommunity Of interest Is Established Shich
results in bringing the Oriental bank. and the
the. customers OF both, into very svmpathetio
and reciprocal relations. with the result OF
merce. II the merchant in Sheffield, ENGLAND,
wishes to open market for his ,roods in Hong
Kong, he obtains the most reliable and CON
Of his bank and its associate institution In
Hong Kong. and in everv conceivable wav his
business 10 promoted. The services which the
home bank. renders TO the home me oh ant
through its foreign branches are found to be
far superior to those afforded through any
other channel"
II our merchant and manufacturer will
work hand in hand with our bankers who have
ioreign branches or ag,encies. they will have
cent. Of foreign com merce. the insdeuuacy
of which. In common with THE Sun. we all
deplore. +.
MoNTcLAIR. y. j.. June 1.