The Birmingham age-herald., 1914-08-29
FOREIGN TRADE COUNCIL. WANTS THE GOVERNMENT
 TO INSURE WAR RISKS

 that the United States could take adyan- tage. of opportunities to secure foreign markets.
 American industry of all kinds. but espe- ciatly the industries, which were expect ing to participate in a great increase in our foreign trade. Among the members of the council is James J. Hin. and at first thought 1t will appear that President Farrell had gone outside the field of in- dustry when he made selection of Mi. Hill
 Yet 10 years ago MT. Hill became leader in the Belgian-Ameriean export trade. The building of two of the great est ocean commerce carriers by him for the purpose of transporting commerce which originated in the northwest from Seattle to the far east was at the time regarded as quite as important an incl dent in our development as was the pur- pose of American iron and steel manu- lecturers to enter into competition for their commodities in some of the foreign markets of the world. Mr. Hill devel- oped very great commerce. which prom ised to be steadily increased. Il in part explained the growth in population and financial strength of Seattle, but, unfor- tunatey, the commerce which was thus developed was halted by reason of the in- depreciation of the authorities at Wash ington that railroad rates were made in violation of the statutes
 Today there Is no better authority upon the development of our foreign trade than MT. Hill, although he looks upon that as secondary In importance to the increase of our agricultural products.
 Frank A. Vanderlip is member of this council not so much because he is presi- 1A,,f of ha NatI h,,, 1,a- cause he is attempting to perfect facili-
 ties, principally financial. by means of which our trade in South America catn be increased.
 What the Council Purposes If this council can persuade the gov ernment at Washington to aid in restor- ing, as far possible, oversea commerce it will have accomplished something which none of the members could have dreamed of two weeks ago. How cu- riously chaotic are eur commercial con, ditions is reflected in a statement made by President Farrell to the council. He told this board as soon as it met that the United States must, as soon as possible, start the movement of exports.
 An extraordinary situation now con fronts us, MT Farrell admitted. For in- stance, if it were possible to sell the Steel -ccmpanys commodities in foreign lands for S1c0o a ton and if it were possible for
 the farmers to demand s10 bushel for their wheat, nevertheless not a pound of steel or a bushel of wheat could be ex- ported. Therefore no sales could be made. This council is to act in cooperation with the bankers. and as far as possible with the government at Washington, in securing means by which cotton. grain
 and manufactured commodities may be safely committed to the ocean carrying ships It is not so much a question of immediate relief to manufacturers and to foreigners, but it is a question of su-
 preme consequence to the United States at this time that these commodities find safe transport and be assured of prompt payment.
 The council was the first organized body to set forth the fact that fl is essential that the government itself provide means for furnishing war-rsk insurance where by both the vessels and the cargoes oe- cuped with foreign trade may be pro- tected. This council will be substantially continuous in meeting until the day comes when the announcement is made that vessels carrying American cargoes are abundantly protected against depreda- tion and are reasonably insured, and when consignors of cargoes learn that
 payments will be made to them promptly.