Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1915-01-22
]. 5. MUST DEVELOP TRADE
WITH FOREIGN COUNTRIES
Or Vital Consequence to Americas
Future That Advantage BE Taken
OF Present Opportunity.
ESTABLISH FIRM FooTHoLD
manufacturers Urged to Exploit
Products OF This Nation and Gain
Such Position in Commerce That
Cannot 30 Dislodgcd.

ST. LOUIS. January 2I.-"0ne week
OF the European war dio more than ten
ycars OF academic discussion to con-
Hince tho American people that foreign
irade is vital element in domestic
prosperity. No doubt remains that the
nation Is determined to see it's foreign
commerce safcguardcd and increased"
This statement was made tonight by
lanes \. Farrell president of the
United States Steel Corporation. In AN
address to a banquet of delegates OF
thc Foreign Trade Convention. in ses-
sion here
Mr.. Farrell continued:
What advantage or disadvantage
he war will bring us depends largely
upon Its changes iD industrial trade
relations. that cannot be forecastcd
Meanwhile. the interests of the United
States are sufficient to warrant "A
proper respect for neutral commerce.
Whatever may be the political out
come OF the European war. IL is appar-
ont that each of the bclligercnts will
ind IT essential vigorously to pursue
is foreign trade to repair these raw
ages OF it's domestic commerce. TO pro-
vide labor to soldiers returned to
peaceful pursuits. and TO amcl!orate
me burden OF taxation.
Diplomacy OF the future will 10 in
timately concerned with commercial
ACKNOWLEDGMENT and II Is Of vital CON
sequence to Amcrica's future position
mat advantage be taken of the present
opportunity TO exploit the products Of
american invention. and to establish
a hrm foothold In tho markets of tho
world. which neither political effort,
.IFt u -.
rcssfully can assaiI.
Too little weight is given III. fact
mat the war curtails Europc's con-
sumption OF South American products.
south American purchasing power
eventually viii improve with increased
'Nr"rt" and Imports. hut American
manufacturers and merchants. embark
!hH Tor the first time In foreign trade,
should b" prepared to exercise patience
nd persistence In their Efforts
STIMULATES IMAGINATION
As NOTHING ELSE IN YEARS
Professor J. w jerks. OF Cornell
University. in AN address at the ban
puct said
me present war has opened up op-
rortunitics, and should stimulate tho
imagination OF the American business
man as nothing else has done for
ears"
secretary of Commerce Redficld de-
parted from his prepared speech at yhe
convention to-day TO Impress on his
auditors the great opportunities for
'oreign trade that the war has brought
American business men. He said:
manufactures. expecting TO enter
me South American market, recently
,old men that. rs preliminary, no
investigated the conditions Of his com
pctitors in Europe. and found II would
take them four years to recover from
The effects OF the war. by which time
he hoped 10 be so intrenchcd that his
product could not he dislodyed
II wish could print the Language
of the dispatches that come TO the De-
nartment of Commerce. II is :: sInru
i9r thing TO have the Foreign Minister
at "A nation wire his ambassador ut
Washington that they dcsir. US to
take the place Europe has held In their
trade. and yc; twice have such mes
saEcs recently come either through
ambassadors or direct"
IL became evident during to-day's
discussions that an effort soon would
be made TO determine il the Sherman
law prohibits combination of Ameri-
can manufacturers and merchants for
the purpose or sending a joint sales
"gcut 10 foreign countries
Employment OF such agents was adj
vooated by William G. Downs. United
states commercial attachc for Aus
tralias and by G. y. Mitchell. president
of u plow company in Chattanooga.
WORk OF COUNCIL.
OUTLINED ny JOHNSON
The work Of the National Foreign
Council, under whose auspices the con-
ycEtion Is held, was outlined by Alba
y. Johnson, president OF the Baldwin
Locomotive Works. who presided at
Ice opening session.
he council. he said. assisted in
preparation OF the ship registry bill,
in creation of the Bureau of Risks and
N establishment of Two American
branch banks in South America.
Following Mr.. Arnolds paper. all the