The daily telegram. [volume] (Clarksburg, W. Va.) 1901-1926, 1915-12-18

will be resisted to the full and every
strategem OF Industrial war will be
exerted against them. Expecting this.
We must prepare for 1t. II 1t shall
pass beyond fair competition and
exert or seek to exert monopolistlc
power over any part Of our commerce,
we ought to prevent it."
Cooperation OF business concerns In
foreign trade os suggested to permit
admission of the smaller tradesmen
into that field OF activity.
Small Men Shut Out.
1.-THE present law plays into the
hands Of the larger concerns and shuts
out small ones from important mar
kets.' the secretary said. provision
should be made whereby such con-
Germs may. with due safeguards
against monopoly, cooperate in the
foreign field. To refuse this for fear
OF monopoly Is to say that the large
concerns shall alone hold the lucra-
tive foreign markets and that the far
larger number Of smaller houses shall
be shut out The whole matter should
be placed under the supervision OF the
federal trade commission and should
be subject to full publicity. 1t is not
intended that this cooperation shall
extend into the domestic field"
Mr.. Redfield expressed the hope that
American banks be permitted to CO.
operate. under supervision Of the fed
eral reserve board. in establishing
foreign branches. or In owning stocks
of banks operating in foreign conn-
tries.
1.-THE present law" no said. "oper-
ates to make It possible only for large
banks Of great power to undertake the
important work Of financing American
/ commerce in foreign fields. The law
works In sole favor Of the great banks.
There are many banks in the United
States Of less than major size. yet
abundantly strong. These should be
permitted. under proper safeguards, to
act Jointly In such matters. There
could hardly be a single step which at
this time would DO moro helpful in
establishing our commerce abroad on
firm basis"
The opening of the Panama canal
and the agitation for an inland water
way along the Atlantic coast, as wen
as the increased volume Of domestic
commerce. the secretary pointed out.
made 1t important that statistics on
internal commerce be prepared by the
government
Need Of Knowledge.
ut Is surprising thing that we
should require by law careful knowl-
edge concerning our export trade and
allow our domestic commerce to SO
on without any definite knowledge con-
corning 1t. Congress will DO asked for
an appropriation sufficient to permit
the beginning Of an effort to throw
light upon q subject Of such vast Inn
portance. but Of which we know 50
little"
The secretary paid high tribute to
the bureau Of foreign and domestic
commerce and to its commercial at
taches abroad in securing contracts
totaling millions Of dollars for Ameri-
can business houses. At present, he
says, there are no commercial attaches
in Central America, India, tho near
East, South Africa or Canada. The
placing Of ten additional commercial
attaches in those regions was recon-
mended.
at is not too much to say that the
work of this service has been at the
very center Of a growing movement
toward the creation Of an American
dyestuffs industry" the report says.
"In this connection signs are not lack
ing that the growth Of our native In