The Birmingham age-herald., 1914-05-15
COMMENCEMENT AT
 A. t. I. INSTITUTE
Exercises Begin Sunday at MOntevallO and Continue
 Through Wednesday

Montevallo. May 14-(special 1.-The commencement programme at the Ala bama Girls Technical institute. Monte vallo. May r to 20, inclusive Is as fol lows:
 Sunday May T., Il a .-Baccalaureate sermon by the Rev. William Parker Neil son, Montgomery
 : p. m.--Young Woman's Christian as sociation service by senior class. Monday. May ls 9 a. m.- Business meet ing of Alumnae society
 Il a. m.-Address before Alumnae so- ciety, by Sol. D. Bloch Camden. p. m.-senior exercise on campus. D. m.-Alumnae banquet. D. m.-Unveiling tablet in Peterson hall
 p. m.-Presentation of the Greek play Alkestis. tFor faculty. students and alumnae)
 Tuesday. May 19. a. m-Basketball game.
 9 a. m.-Annual meeting of board of trustees.
 a. m and p. m.-Exhibits by techni- cal departments.
 Il a. m.-Commencement concert. 1 D. m.-Governor's reception. s D. m.-Presentation of the Greek play Alkestis. (For the general public.)
 Wednesday. May 20. 10 a.. m.-Com- mencement day. Baccalaureate address by Lawton B. Evans. superintendent of public schools, Augusta, Ga.
 Awarding of diplomas by president.
  been inevitable. The United States Steel corporation has sought it's own markets in other lands, conducting it's exportation trade as though it was not aware that there were other Americans engaged in the manufacture of commodities who were also selling in foreign markets That policy has been characteristic of the Standard Oil company, which was the fiist American corporation to find great foreign. markets. This has undoubtedly been true of the Harvester company. It is due to some extent to the poverty of banking facilities. Germany has greatly aided the establishment of markets in other lands by means of the excellent financial or banking facilities which are offered in the name of Germany every where, and this has always been prom inent characteristic of England. 1t is probable also that the lack of an American merchant marine has embar- rassed the exporters of American manu- factured products. There are other req sons to explain the lack of cooperation of reasonable and perfectly lawful kind between the exporters of American man. ufactured products.
 When these defects are made good 1t it is not unlikely that it will speedily be discovered that the permanent effect of the new tariff law will not be harmful, although the figures for the first six months may seem to suggest that this new law has impaired our exportatons.
 Foreign Laws and Foreign Trade
 When the new national banking law is in operation it is probable that branches of national banks will be established in tie larger financial centers across the sea and these undoubtedly will facilitate the marketing of American commodities in other lands. There is, however, an influence which, if exerted, will certainly lead to a large increase in the exporta- tion of American manufactured products. This is topic which will be the subject of an address at the Washington conven- ton by Willard Straight of this city.
 A year or two before the revolution in China which overthrow the dynasty and established the republic, MT. Straight completed negotiations for the floating of loan in the United States behind which was to stand the credit of China, the maximum amount of which was to be 50,O00,000. The funds obtained by this loan were to be utilized in the reforma- tion of the Chinese fiscal system. MT. Straight was convinced that loan of this wind you'd be followed by a great increase of American trade with China. The overthrhow of the dynasty, of course. practically cancelled that loan.
 Subsequently American bankers under took, with representatives of five other nations, to finance loan for the Chinese republic of approximately $150.000000. The sole purpose behind this transaction was the enlargement of American trade with China. or at least the offer by China of equal opportunities to the United States in the establishment of trade, the con struction of public works and the de- velopment of natural resources. Since 1882, the United States has from time to time participated in foreign loans An increase of trade has invariably fol lowed although the increase has beer greater in some countries than in others The larger figures which represent oul | commerce with some of the South Amer ican countries. particularly with Argen l tina, and until the recent disturbances ir Mexico with that country. were followed l immediately by great increases of trade
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