The Birmingham age-herald., 1915-08-05
ALL INTERESTED IN QUICK RESTORATION
 0F GERMAN TRADE Russia and Italy Will Bear Greatest Resentment to
 Germans After War
UNITED STATES IS
 TO REAP THE BENEFIT
England Will Realize Importance to Herself of Resuming Commerce Relations With Germany
 When Peace Comes
By HOLLAND

New York, August 4.-(Special. )-Baron Estournelles de Constant, senator in the French parliamentary body, of great prominence as an advocate of interna- tonal arbitration and possessed of many warm friends in the United States, having visited this country few years ago and |ueiivered many addresses, has written to friends in this city his view of what should constitute some features of the terms of peace. The baron Is not one of Those who believe that it would be expe- dient that Germany be utterly crushed He would be glad if as result of the War what Is known as the spirit of mli- |farism were ended, but he is persuaded that it is vital to speedy recovery of in Sustry and trade that the terms of peace De so written as to make it possible quickly to revive industry in and trade with Germany.
 That is the view taken by some of the leaders in international financing in this city. One of those, who is associated with Ia banking institution which has had prominent part in much of the interna- |tional financing that has been completed Tor is now under way, said this morning that IL IS lO lHt pest interest or the United States that Germany-especially If Germany be defeated in the war, be aided in upbuilding her industries and recovering her trade. He had no doubt |that the United States will after the war |gladly give to Germany such financial as- sistance as may be called for and he had Treason to surmise that American nanu- |facturers are now contemplating the es- Establishment in Germany after the war of |lpdlStrial nlapfS American hpapFipr |of prominence who has been in close touch With the leaders in finance and in the ad- |mlnistratio of the government in Great Britain has doubt that after the war l1s ended Great Britain will aid, if aid be |called for. in the recuperation of German Industry and in the recovery of German |trade.
 Had it not been for the fact that our |trade with Germany has been substan- |tialy suspended in the past year, the ag- |gfegate of our international trade would |pvobably have been about s200, ,000, 600 larger .than the actual figures and our visible |trade balance of s110O,0o0.000 might have been increased to s1,25O,OOo,O00. We cannot
 afford permanently to lose our trade with IGermany.
 There Is no doubt that England has with
 home severity felt the loss of her trade |Ufth Germany on account of the war. It
 was a great trade and was of benefit to
 both nations. Germany must in the fu- lure be as good "a market as that nation
 has been in the past and German trade
 Twill undoubtedly be eagerly sought in spite .bf those who say that the resentments oc-
 casioned by the war will be too great to
 permit an early return of trade with Ger many.
 Nevertheless. these resentments, 1t is
 believed. will play a considerable part in
 delaying the return of normal trade rea- |tions between Germany and other coun- tries. Communications have come to this city indicating that Russia is not likely
 to resume trade relations with Germany
 untl many years have passed The Rus
 Bians believe that should Germany be tri-
 umphant in the war she will insist as one,
 of the terms of peace that Russia con-
 gent to the rewriting of the commercial
 treaties which Germany made with Russia +just after the war with Japan when Rus
 Bia was powerless to deny Germany and
 was compelled to accept these commercial
 Treaties. But information received here
 Is to the effect that Russia will never con
 bent to give exclusive rights to Germany
 to trade of the kind which were embodied
 In the commercial treaties with Russia
 which Germany made some 10 years ago.
 If the feeling which prevades all Rus
 bia continues after the war the probabil- lies are strong that Russia will divert to
 United States much of the trade which
 lnti the war broke out and for some 10
 years before she had been compelled to
 give exclusively to Germany. Russia
 hsiIl also cultivate extensive trade rela- iIns with Great Britain and with France.
 Italy's Trade
 Many times. in dispatches which have
 tome from across the sea. the statement