Ladysmith news-budget. [volume] (Ladysmith, Rusk County, Wis.) 1907-1927, 1915-01-29
NATION CONVINCED BY EURO
PEAN WAR THAT COMMERCE
ABROAD Is VITAL ELE-
MENT IN PROSPERITY.
ALL ELEMENTS UNITE IN
PATRIOTIC COOPERATION
lanes a. Farrell, Steel Corporation
Head, at Foreign Trade Conven-
ton in St. Louis, Tells of Ad-
vantage Brought by War
-Redfield Speaks.

years of academic discussion to con-
vince Americans that foreign trade is
e. vital element in prosperity. No doubt
remains that the nation is determined
20 see its foreign commerce safeguard
I'd and increased. Differences Of opin.
ON relate only to method"
This statement was made by James
A. Farrell, president of the United
States Steel corporation, at banquet
Of the foreign trade convention here.
All Elements United.
All elements are united in patriotic
cooperation for the common end" Mr.
Farrell said.
What advantage the European w2r
brings US depends largely upon
changes in industrial trade relations
that cannot be forecast. Meanwhile,
the interests of the United States are
sufficient to warrant proper respect
for neutral commerce and the United
States will, in maintaining its trade at
as high a level as just regard for
belligerent interests permits, serve the
larger and permanent interests OF
those not engaged in hostilities.
Whatever may be the political out
come of the European war it is appar-
ent that each of the belligerents will
find 1t essential vigorously to recover
its foreign trade, to repair the raVages
of its domestic commerce, to provide
labor to soldiers returned to peaceful
pursuits and to ameliorate the burden
Of taxation.
To Exploit u. 8. Products.
Diplomacy of the future, as OF the
past, will be intimately concerned with
commercial aggrandizement. 1t is,
therefore, of vital consequence to
Americas future that advantage be
taken Of the present opportunity to e.
plot the products of American inven-
ton and establish firm foOthold in
the markets Of the world, which Meth
or political effort, tariff discrimination,
nor low prices successfully can aGsail.
Under the shipping registry over
100 vessels have been transferred to
American registry. Some Of the Oner-
GUS re restrictions Of the navigation laws
were suspended by executive order It
should be remembered that this noti-
fication is not q repeal Of existing nayi-
cation laws, but merely suspension
While there may be differences Of Opin-
ion as TO the proper policy Of up-build-
ing the merchant marine, it appears to
be generally recognized that as long
as these restrictions are not legisla-
lively repealed, the possibility Of an
enlarged American merchant marine
competing successfully with the ships
Of other nations in time of peace will
be a matter OF slow growth
Secretary of commerce Redfeld de-,
parted from his prepared speech at
the convention to impress on his aud
itors the great opportunities for for
eign trade that the war has brought
American business men. He said:
"A manufacturer expecting to enter
the South American market recently
told me that as a preliminary he inves-
tigated the conditions Of his competi-
tors in Europe and found that it would
take them four years to recover from
the effects of the war, by which time
he hoped to be so entrenched that his
lroduct could not be dislodged."