The Birmingham age-herald., 1913-07-03

achieved and which is to be consequent
upon federal legislation or else he really
does not know what the United States,
burdened with the shachles OF which he
speaks, has accomplished.
The Secretary OF Commerce, Mr.. Red-
field, in an address delivered soon alter
he became a cabinet member, spoke of
the amazing increase of our expectation
of manufactured products in recent years.
His prediction was that we are likely 10
export in the year 1914 manufactured
products of the money value of $500, co.,
600. He insitnated that we have been OF
late INCREASING our expectation of manu-
tactured products at the rate of $500, ,eto. .te0
a day.
Every one of the men of business affairs
OF Great Britain and of the continent OF
Europe who have visited the United
states IN the past six months has spoken
with amazenent Of the recent increase
OF the exports of American manufactured
products. Ten years ago these exporta-
tions were Incidental only to our general
foreign commerce. Europe then looked
upon the United States as important in
foreign commerce chiefly because our cot
ton planters of the south and our farmers
of the west and south were able to feed
and in great measure to clothe the rest
of the world
Undoubtedly the statistics which will
speedily be published by the department
at Washington will show that our eXrer-
tation of manufactured products for ae
past u months is in money value in ex-
cess of our expectation of agricultural
commodities. The official figures are like
ly to show that our total foreign com
merce for the fiscal year just ended Is
considerably in excess of $1,000, 900 coo and
that we now stand second only to Grea5
Britain in the magnitude of our worlds
trade.
Yet all this has been accomplished In
spite of the burdens which President Will
son calls "shackles of business" If SC
much as THIS could be done at a time
when the Dingley law and the Payne
Aldrich law we're upon the statute BOOKS
then what IS President Wilson's concep-
tion of what may be accomplished when
the shackles contained in these laws, as
he asserts, are removed?
A Great World Power
The United States is now acknowlcdg I'd
by the statesmen and financers of Great
Britain and of Europe TO have become
a great world power. When there is inn
rortant intei national financing to be dore
the Americans are asked to participate.
Last year the American farmers har
vested practically a record crop and it
was of the money raue of approximately
50. 900. 100000. The cotton planters of Tho
south, notwithstanding what President
Wilson calls the shackles of business,
have harvested recently a record crop of
cotton. In full cooperation with the
farmers of the west and of the south the
American bankers have with very great
skill financed the moving of the crops
from the harvest fields to the markets
and in addition to that taken care ci
enormous lines of American securities
which Europe in fright dumped uRon
the United States last fall. The great
securities market of this country has been
deadlocked for more than a year, 1t is
, true, and there have been heavy depre-
Citations in the quoted values of securities.
yet the general healthfuness that is char
acteristic of American business life has
been sufficient 10 enable the business
world to Withstand these deprecia tions.
Last fall and duiing the winter business
was al high water mark. The grievous
and absolutely dead losses entailed by
the floods of last spring are being met
and made good. The material industrial
and agricultural growth of the southe n
states in recent years is now esteemed one
of the marvels of modern civilization.
Relatively speaking nothing like it is re-
corded in history. Wages on the whole
| have been increased. The demand spr
| labor, especially for skilled labor, hes
never been greater than 1t is at present
For these reasons, it is assumed that
President Wilson must be contemplate 5
condition iof material, industrial and
commercial activity compared with which
the record If recent years is but a trife
II we are now, with the shaclSles of bust
ness upon us, producing at least 80 per
| cent of the worlds coal and pig iron
what are the figures which will tell of this
production when the industry of witch
President Wilson E,nts in his address. ia
Congress is rlade absolutely free through
the legislative removal OF shackIes, which
he so cordially promises?
Yet the Presidents address is spoken
OF here as happy in thought because it
is so splendidly optimistic.