The daily telegram. [volume] (Clarksburg, W. Va.) 1901-1926, 1915-12-06
BY Dr.. Snowden Who Predicts
Many Changes and Difficult
ties as Result of War.

NEW YORK, Dec. G-commercial
conditions throughout the world we're
reviewed by DR.. Albert A. Snowden,
OF the National Association Of Manu-
facturers, In an address today before
the international Trade Conference
which is being held here under the
auspices Of the manufacturers asso-
citation.
After showing what great up
heaval had been caused in the eco
nomic world by the war. DIR. Snowden
pointed out some of the opportunities
In international trade bound Ia
come with the readjustment following
the war. Among other things he
laid stress on the Improvement in
foreign news service, along COM
inerdal ines.
International trade" said he, "in
Its higher aspects. means world-ser-
vice. As means Of giving better
service to other nations, thereby OBJ
timing trade and through 1t employ
ment for workmen, the manufactur-
ers. shippers and bankers OF the
United States. in the opinion of the
speaker. must cooperate: give work
crs technical training; establish ex-
port trade schools; improve foreign
news service; and place direct rep
resentatives OF the manufacturers in
foreign fields.
Trade of>any kind. world trade in
particular" he continued, requires
necessarily. the getting and giving
OF Information. The constant i'm
provement fthe means for the in
terchange of commercials facts with
other nations is essential to the ra-
tional expension of international
trade. The government of the United
States and our leading organizations
and financial institutions have lately
increased the facilities for the inter
change OF such information. Our In
dustrial news service through other
countries is being facilitated through
the same agencies"
The United States is taking is
place as a premier investor nation. -
he said. and for the first time our
actual holdings of foreign securities
exceed In amount the total OF AmerI-
can securities held abroad. Our ex-
port of capital has suddenly become
larger than that OF Great Britain in
Its palmiest days before the war.
But there are numerous obstacles
In our way OF international trade.
The European war not only elimi-
mated the two largest merchant fleets
from active ommerce-leaving an
interior port. Cleveland, o., as the
headquarters OF the worlds largest
line OF steamers actually engaged in
trade. but II swept from the seas all
merchant vessels of the nation that
was second in ocean trafIlcing power.
The combined merchant marine of
the United States has. OF course,
stood second among the nations of
the world for great many years.
but since large part OF its tonnage
has been confined to the Great lakes,
and another considerable section has
been occupied in coastwise and river
navigation. we have relatively few
ships in the overseas traffic. In the
United States, the ill-advised sea-
mems act. foolishly intended as a
betterment. has had the effect of a
hotilla Of hostile submarines directed
against our merchant marine"
He said that the anticipated heavy
traffic between Europe and the orient,
via the Panama canal, has not as yet
,materialIzed, and the dearth of ocean
carriers is felt in our own trade with
China, Japan and the west coast of
South America, via this route. but
he thought that with the ending OF
the European war this situation
would improve.
He continued:
Producers everywhere are keenly
alive to the tariff and manufacturing
readjustment to be faced after the
war. The probable low cost of labor