The Detroit times. [volume] (Detroit, Mich.) 1903-1920, 1915-11-27
BY JAMES A FARRELL.


president OF the United States
Steel Corporation. Written espe-
cislIy for The Times. Copyright,
1879
That foreign trade is vital ele-
ment IN domestic prosperity has
been amply demonstrated by the eX-
erience of the United States ~nce
the beginning OF the European war.
Our steadily increasing oversee com
mcrce previously had materially con
tubuted 10 our national wealth but
the dislocation OF international ex-
change OF commodities. and OF the
system, by which they are transport
ID and financed. made this fact for
he nrst time apparent 10 many who
had regarded exports and imports as
The particular concern OF the sea
port.
When the merchant fleets Of the
Lelligerents. upon which We so large.
~ depended for carriage OF our mer-
chandise. were obliged tC remain In
harbor. the seapoTts became congsst-
ed. not only with manufactures DIT
with grains and other agricultural
produce from the interior Suspen-
sion Of payments, "a a result Of
movatorIa In the helligerent coun-
tries and in tho neutral countries
financially related to them reacted
not only upon shipping interests in
the great American ports, but the
effect vas felt in every state Of the
union
Our farmers were az that moment
beginning 20 harvest an unprecedent.
ed crop OF grain. which u was Ger
tain the belligareuts would require
and pay for A. never before. Yet
there eusued a monetary stringency.
which required. for the first time,
the employment OF the emergency
currency act
The experience OF August. Septem-
Der and October. 1914. revealed the
intimate relationship between the
agricultural production OF the Unit
cd States and the food requirement.
~ Europe So long as transporta-
ton ana finance remained partially
paralyzed the commerce OF this
country suffered almost as much as
that OF n belIlgerent n was a re-
markable demonstration Of the ad.
verse domestic effect OF disaster TO
our export trade.
II oUr foreign going merchant ma
rine had been larger. our commerce
might have moved more freely under
the protection ~ our neutral flag.
As the war proceeded. the resump-
zion Of transportation was made pos
sible bv British control OF the sea,
permitting safe navigation by Brit
Ssh hips. which have long carried
great part or our commerce. and
lv the operation Of the ship register
act % Aug IS. 1914. under which l6l
vessels Of more than 100000 gross
tons have come under the American
fac and nov carry our merchandise
under shelter Of It's neutrality
After the crisis % the wars begin.
ming had passed. Burope's abnormal
var demand for foodstuffs and mum.
tons asserted Itself. The result Was
that. although domestic business
conditions we're subnormal. our to-
tai foreign trade for the fiscal year
ending June 81 last was greater
than for any previous year. attain.
ing total ~ s4.442,7S9.0s0 The
trade balance in our favor was ST..
094 AIS 500
This was our greatest national
asset u not only improved our In
ternational credit and gave 10 the
dollar a position % unprecedented
influence IN the finance ~ the world.
but ne benefit were widely dlstrlb-
uted and affected the welfare and
promoted the happiness OF an enor-
nous proportion % tho individual
citizens OF the country.
II is dificul. 10 conceive ~ M.
ton in which a greater number of
The people are benefited by prosper