The Birmingham age-herald., 1915-07-23

steel industries of the United States would have a money value, he thought, within a few years of considerably over $i00, ,O00000. Mir. Perkins estimate was ex cellent. Tn the year 1913, the money value of agricultural apparatus the great labor saving machinery which is adapted to farming upon larger scale, was little over s40OoO,oOO in money value. The pre- sumption was that in the next year the amount might be increased sufficiently tc report a new record of S50,000000 in money value of the export of agricultural implements.
 Apparatus of this kind, however plays little or no part in the agencies for main- taining war, and the truth of that state ment is made evident by the report from Washington a day or two ago which shows that only s10.0Oo.oOO worth of agri- cultural implements was bought in the United States and exported to foreign countries in the p months which ended on June 30 of this year.
 Some of the large industries of the Uni ted States have declined to take orders for war munitions. suspicion prevailed that some of those who are associated with the United States Steel corporation are not entirely satisfied with the prevail ing policy of that organization The cor poration has consistently refused to con slider propositions which, had they been accepted would have put every plant con- trolled by the company to it's full capac- ity, and would have made possible the accumulation of millions of immediate income
 But the great organizations whose prod ucts is agricultural implements of all kinds have had no opportunity to con- slider war orders. None has been made to them, because the implements which they manufacture are of value only in times of peace.
 Prevailing opinion in the financial dis trlct reflects the expectations that the money value of the harvests of this year will be in excess of s10,000 900, 900, George G. Reynolds president of one of the greatest of American banks, and familiar with conditions in the agricultural sections of the west and northwest estimates that the money value of the wheat harvest will be approximately S1, 900. .000,0 These great harvests would be impossible to realize were it not for the American in- vention of wonderfully capable labor-sav- ing machinery.
 the use of these American inventions on very large scale. Russia has been, ever since these inventions were perfecetd and their highly economical capacity demon- strated. the largest of the markets for this apparatus. MT. Perkins spoke of the keen interest Russia is mainta ming in the util- izat;on upon a great scale of American s agricultural apparatus as incontrovertible evidence of the purpose of the modernized Russian government to stimulate agri- culture in Russia until it's highest possi- bilities there are realized. The war has caused a great falling off in purchases by Russia of these implements, while of course, sales to Germany and Austria have practically stopped and only compara- lively small amount of this kind of ap- paratus was exported to France in the past fiscal year.
 However, this falling off is more ap- parent than real, because already in France and in Russia there have been es- tablished manufacturing plants of consid- erable capacity in which these American machines are made They represent American investment, and the output in sales of these commodities should be reck- oned with when considering the sale of American agricultural implements to for eign lands.
 The other day one of the bankers who Is much occupied in international financing said that after the close or the war there would in all proba bility be large in yestment of American capital in the es- tablishment of manufactures whose com modities represent American invention. In fact, there was already the contempla- ton of considerable investment of that kind when it seemed likely that the new tariff law might seriously effect American exports of manufactured commodities These plans were laid aside, temporarily, when the European war began. In France and in Russia, capital associated with the manufacture of American agricultural inn plements has been invested fin the upbuld- ing of what are really American manu- featuring plants in those countries.
 After the war the probabilities are that demand will come for American farming
 implements which will drive the works, both in this country and in France and Russia. to their utmost capacity. For 1t is presumed that one of the first steps which will be taken by the nations which have been devastated by war. or whose industries have been greatly effected mil ha ho fio1 nf fltAir