The Detroit times., 1915-11-27

APreSioeNt or the Oniteo states
Steel Corporation. Written espe-
eisIIy for The Times Copyright,
1e15.)
That foreign trade is a vital ele-
ment in domestic prosperity has
been amply demonstrated by the ex-
Terrence OF the United States ~cnce
the beginning OF the European war.
Our steadily increasing oversee com
Hftfee previously had maternity con-
trlbuted to our national wealth but
the dislocation of international ex-
change of commodities. and OF the
system by which they are transport
ed and financed. made this fact for
he rirst time apparent TO many who
had regarded exports and imports as
the particular concern OF the sea
pert.
When the merchant fleets OF the
belligerents. upon which We so large
ly depended for carriage OF our mer-
ohandise. were obliged tc remain i'm
harbor, the seaports became congest-
ed. not only with manufactures Drt
with grains and other agricultural
produce from the interior. Suspen-
sion of payments, as result OF
moratoua 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 was felt in every state OF the
union.
Our farmers were at that moment
beginning 10 harvest an unprecedent-
ed crop OF grain. which IL was Ger
tain the belligerents would require
and pay for as never before. Yet
there ensued 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
production OF the Unit,
ed States and the food requirements
of Europe. So long as transporta-
tion and finance remained partially
paralyzed. the commerce OF this
country suffered almost as much as
that of a belligerent 1t 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 OF our neutral flag.
As the war proceeded. the resump-
tion OF transportation was made pos
sible by British control OF the sea.
permitting safe navigation by Brit.
ish ships. witch have long carried
great part OF our commerce, and
by the operation Of the ship register
act OF Aug. IS. 1914. under which lsl
vessels OF more than 100000 gross
tons have come under the American
hag and nov carry our merchandise
under shelter OF It's neutrality.
After the crisis OF the wars begin
ming had passed. Europe's abnormal
war demand for foodstuffs and muni-
tions asserted itself The result was
that. although domestic business
conditions were sub-normal. our to-
tai foreign trade for the fiscal year
ending June so last was greater
than for any previous year. attain
ing a total Of s4,442, .0s0. The
trade balance IN our favor was ST.
094,41s, 500.
This was our greatest national
asset II not only improved our in
ternational credit and gave 10 the
dollar a position Of unprecedented
influence In the finance OF the world,
but It's benefit were widely dlstrib-
uted and affected the welfare and
promoted the happiness OF an enor-
nous proportion OF the indvidual
citizens Of the country.
If is dificuit- to conceire Of . Ba-
tion in which a greater number OF
the people are benefited by prosper