The Birmingham age-herald., 1915-01-01
Foreign Trade Conditions

It 1t can be accepted as fact that l the sherman antitrust law does not pro- I hibis trade agreements confined exclusive 1 ly to the sale of American commodities | in foreign markets, then there would be | a large increased sale because the cost
 Of carrying on the foreign business would in this way be greatly reduced. There I seems now to be an impression that were | this tested in the federal courts it would l be found that the courts would decide that the Sherman law does not apply to foreign | trade. This impression may have been 1 founded upon. the fact that in the decision recently made by the federal court in the International Harvester case there was no reference to it's export trade activities as violation of the antitrust law.
 The convention at St. Louis will un- doubtedly find way for honorably ap- preaching the federal government at 1 Washington so that Congress may legis- late in such manner as to remove all doubt as to the right of American manu- facturers so to act in combination as to meet, on equal terms at least world com- petition for foreign markets.
 The recent meeting of the finance com
 mittee of the United States Steel corpor- ation, when decision was reached not to cut wages, at least for the present, rep- resents the views of some of the ablest business authorities of the United States It is commonly recognized as a remark able group of men who constitute this
 hnance committee. Norman E. Ream, J. F. Morgan, George F. Baker Henry C. Prick. George W. Perkins and PercivaI
 Roberts constitute a body of men whose
 business Judgment is regarded as of the
 best character. MT. Farrell is ex-offico member of this committee and there are some reasons for inferring that he may
 have made exposition to the finance com
 mittee of his understanding of what the American opportunities for foreign trade now are, how greatly they have been en-
 larged since the European war began and what the best method, so far as can now be determined, is for taking petma- nent advantage of these opportunities
 The meeting of this great body of American business representatives in St
 Louis, the third week in January. will, 1t is believed, serve to create widespread public interest in this subject.
 The Latest European Information
 A day or two ago Mir C. w. Barron
 returned from a vist of some weeks to Great Britain, bringing information
 which is regarded in this city as of the highest importance, especially as it seems to be authentic. MT. Barron was espe- eially qualified for this undertaking by reason of his long and intimate associa- ton with the leaders of the world of finance and of the industries of the United States As proprietor of the Wall Street Journal and also of the Boston News bureau he had especial facilities when in London for obtaining informa- ton. He brings back word that the war will last Intil Germany is exhausted He says that there is not yet full understand ing in the United States of the determi- nation of the British people to struggle. no matter what the cost until the civili- zation which is represented by Germany is subdued. For Germany, the cost of war is chiefly in the loss of her citizens. For Great Britain, the cost is financial fAid commercial chiefly, but England will maintain her armies no matter if as much as s5,o0O,c00,oeo0 or more is necessary to be raised.
 MT. Barron is persuaded, also, that the United States is beginning to aecommo- date itself to the new conditions created by the war and believes that our com merce will be not only maintained, but in- creased while the war is in progress Confidential infornation--that is conf- dential in it's sources-which he received Justifes him. he believes, in saving that England will demand no indemnity from Germany for her losses. partly because she believes that the best that Germany can do al the close of the war will be to Indemnify Belgium.