Burlington weekly free press. [volume] (Burlington, Vt.) 1866-1928, 1910-11-17
COUNTRY NOT GONE TO DOGS
1tcgardlcss Of Politics Trnde Cond'-
tions Are Such THAT Business VIII
surety Go Forward.

i1Eton n day or two ago '"iihN W 'uc
money value Of our commerce with other
PARTS OF the world, In nine months OF tho
year 1910. III to be found ono OF tho cahs'S
for the announcement which h'ifincss
and the securities market fiud IN pre-
vaillns conditions. We now know what
the money valuo of American productS
exported from the Ist of January 10 tho
LIST Of October waa, md we are also told
OF tho money value OF foreign products
which were import cd. Tho figures appear
to justify the estimate made by come
Of the commercial ectuaries so to call
them, namely, that In the II months ct
this year our total commerce with other
countries will he approximately Of the
money value Of 5000, cNco, In other
words. we shall have the curious coinci-
denoo Of q corn crop which is harvested
In excess Of 3Oo0,Cco bushels, and AN In
ternational commerce Approximations 49,
M.uC.00 IN money value. Had our inter-
national commerce increased this year,
relatively as did the harves. OF, corn over
that OF other years, we should have had
an International commerce. speaking
roughly. OF probably, $500 10000. And
this commerce would be found greatly to
narease our Visible trade balance.
Now an analysis made OF the figures
reported from Washington reveals some
interesting facts. The money value OF
ovr exports for nine months was in
round numbers N,260. co. 0cO-no. quite
hat, but tbs fisurss are sufficiently nc
curate FOR the illustration.
On the other hand, our imports for
he sa,ns period were sl.Ea 10000
money value. This makes Il visiolo trade
pelarce Tor nine months 30 small that
It would avail very little in establishing
credit on the other side OF the sCh. j..
might almost Justify the prediction of
those who said in the summer that we
would be fortunate if upon our inter-
national trade we came out even: that
Is to say, sd not owe Europe anything
Upon the balance.
But the probability is theI with the
neavy imports of cotton which arc pre-.
sunnbly TO be continued through the
remaining three months Of the year and
the export OF breadstuff- we shall find
thaf our total export for the year VIII
approximately amount to sl,GoJ,0No 600,
ana Our imports approximately s1.4Q0,-
10000. The most encouraging forecast,
therefore, Of our years Internal onal
commerce does not Justify an estimate
of Our international trade balance rs
larger than SaCO.Up,0U.
One feature OF the report from Wash
lngton is gratifying because It shows
hat we are maintaining and in fact
increasing, our commerce with South
America, and on the whole the figures
which tell of our commerce with The
FAR east are almost, If not cutie, sat!e-
factory.
Later In the Year we shau probably
receive tented schedules which will
show how rapidly we are Increasing our
market else where for American prod
ucts, not foodstuffs or cotton. and this
is one Of the midst significen, Of the re-
cent features 0f our foreign commerce
We are gaining rapidly in the export Of
manufactures, in fact. this in great part
explains the increase Of our commerce
with the Argentine Republic and with
Brazil. In a.! probability before the end
of the year we shall hear from Rio de
Janeiro that the Brazilian government
has entered into contract with Brazilian
authorities Tor the purchase OF a large
amount OF manufactured products for the
'quipnent Of some very important public
Works now under way in Brazil
MIR. HEPBCRN'S ANALYSIS
This feature Of or foreign commercA
was undoubtedly one of tho factors
Which Mr. =. barton Hepburn had in
mind when he mado his recent Very sig
nif;cant address upor the occasion Of h.s
installation as president Of the cham
Der Of commerce. Ho might have found
possibly the best Illustration If modern
;endencles, md especially those which
make for Ieace, in his own career
superintendent Of the State banking de-
}artInent when Il very young man. ma
iional bank examiner for n portion OF
New York city ~ years ago comptroller
Of the currency in the latter part Of
President Harrison's administration,
president Of the Third National bank a
}ear later, vice-president Of the Ma
tonnl City bank. after the Third Ma
iional was houidated, and then pres!-
cent OF what Is now ono OF the greatest
# American banks, the Chase. winch Is
IN cooperation und In fact in commu-
nifty with the First National and with
important banking interests at Chicago.
NJ. Hepburn still found time in his busy
career 10 write the most authoritative
book dealing with one phase Of banking
and currency questions that has yet APP
reared
Mr.. Hepbprns whole career is a fine
exemplificction az what he said to the
members OF the chamber OF commerce.
Not military glory, no colonial aG
grannizenent, simply for the sake OF
power. not political ambition. but the
material advance OF the world in the
ureotior Of honorable civilization are.
In his view, the forces which will serve
to bring about that world peace which
- tho hope Of many Intelligent men,
Monarchists are now concentrating
heir efforts upon advancement of trade.
ana tins attainment OF commercial suprc-
. macy. Dynasuc ambitions personal AM
mtions, territorial ACKNOWLEDGMENT are
no longer potent dangers to the peace ~
he world. Commerce, trade, tho exploit
anon or resources, Mr.. Hepburn regards
as the great forces, and Of course behind
lAess Forces are % be found tie finan-
Gal authorities OF the world.
PROBABLY this II is which the Ameri-
can Peace society, or mt least some
members OF it, had in mind when re-
Gently they earnestly and enthusiarti-
caily supported a resolution fnvorinC
the recommending to President Taft
of one of Americas leading finahciera
rs momldr of the peasc commission
fneg dld this upon the theory that /,
Is finance and commerce and trade
"hlch ARE the great world OF factors
now And these factors, or at least
IN the long run. make for peace; since
mere Is nothing so disturbing 10 COM