South Bend news-times. (South Bend, Ind.) 1913-1938, 1914-11-21

lines Of business which could reap
benefits from the foreign field.
Suggests Combination.
The speaker pointed out that most
desirable move on the part OF manu-
facturers would be for the manufac-
turers Of each particular line OF goods
70 combine for the purpose OF ac-
quainting the foreign trade with the
quality Of goods for sale. He urged
that an effort be made 70 have the
Sherman act changed so that il would
not be unlawful. as it now is. for man
ufacturers to combine for the mutual
benefit OF the trade and he explained
how this might be done by making
the results OF such combination the
one indication Of whether OF not that
combination were inimical 10 public
interests in general.
Mr.. Kies stated IL as his belief that
the war would last at least for a year
and that now if this country used tact
and judgment the foundation OF a
permanent commerce between the
Americas could be established which
would be OF permanent benefit to both
countries. It was pointed out how at
present the United States is a poor
third in the trade with South America
which is largely in the hands OF the
English and the Germans.
a Neglected f1ei0.
South America although rich I'm
natural resources Will never be a
great producer OF manufactured arti-
cles This is due to the lack Of large
quantities Of coal and iron which are
heedful in close proximity TO manu-
featuring centers. Also the labor Of
South America has been found not
suited TO the demands OF manufactur-
ing. The United States thus far has
neglected the foreign field and this
Is due to a large extent to the fact
that we have absorbed the greater
part OF our production. We have
turned to foreign markets only I'm pc
RODS OF lessened demand and have
used these markets in years Of over
production as a dumping ground for
our surplus products
Among the things that have made
trade with South America discouraging
10 American manufacturers is the
distance between our ports and the
importing ports of South America and
the long time between letters and like
wise the necessarily long periods of
credlt. Also it has been difficult for
us TO understand tho Latin tempera-
ment which is peculiarly adverse to
our Dlunt and aggressive methods If
We are TO do business successfully
with South America we must treat the
ROnSl0n.
rate and courteous manner in which
ne is accustomed TO being treated bv
business men in his own country and
other countries. We have also lacked
In shipping facilities and in banking
facilities but this situation will he
remedied with the growth OF trade
understanding.
Mr. k1eS went into detail concern
ing the plans of his bank in the work
or strengthening the business relation
snip between the two Americas. He
pointed how important it is that il
would be necessary for all exchange
10 pass through London and that the
dollar should become known and re-
spected throughout the world as much
as the pound sterling as a medium of
exchange
Defends Foreign Price.
The speaker called attention to the
criticism that is often heard against
those firms which sell their products
abroad cheaper than at home. This
adverse criticism, he declared was al
together unfounded and was started
and maintained merely as political
capital. In explanation he called at
tention to the fact that a factory can
De run at capacity at very little more
expense than it~can be run at rs per-