The Barre daily times. (Barre, Vt.) 1897-1959, 1916-01-29

ment of extensive enterprises The de
mand for these follows the possession
of borrowed capital for construction OF
railways, tramways, port works, power
plants, lumber mills, plantations, pack.
ing establishments and irrigation pro-
jects, mines, factories and mills.
"The scale on which such enterprises
are projected is constantly growing. Mil
/ lions are borrowed where thousands were
sufficient quarter of century ago.
! Frequently the loan contracts and ar
rangements for the supply of materials
are combined in single transaction, as
surfing the supply of materials to the
country which provides the funds. Thus
railways financed in London will be con-
structed by British engineers under spe-
cifications drawn to favor British prod
ucts and eventually British rolling stock
will be operated on British rails by
British officials, and British character
impaired to the demands arising from
the constructive activities stimulated
along the right of way. Railway enter
prises promoted by German capital have
similarly served German commerce.
Spheres of commercial influence have
thus been created To the advantage of
all interests affiliated directly or re-
motely with the original loan.
What is true Of railroad construction
il true of most other enterprises based
on foreign investments. A partial ex-
ception may occur in the case OF loans
to governments who, in the matter of
constructive enterprises are not usually
van -, Fa4r4 lad In
the case Of China, even this exception
does not hold good, but in most other
countries government railways are
among the few where an open market
can be found for American equipment. |
Dealing with the possibilities OF de-
velopment OF export trade in manufac- /
lures, il ID well to remember that we
meet with competitors in this field TO |
whom its possession is a matter of ma /
tional existence. BY Great Britain no /
less than by the other industrial bellig /
erents, the ordinary investment of cap /
ital abroad will be largely suspended /
during the war and must suffer dimin
nation in volume after it. But the argu- +
ment that an impoverished Europe will Il
require all that ii can save or borrow 4
w hDhHtoAtC tRnd bAGIAU Llif II
fact that Europe's foreign investments
safeguard the prosperity Of her indus
tries. A loan which brings from abroad
/ liberal interest return, while insur
ng employment for large proportion
II the industrial population, is a doubly
valuable domestic asset. In this CON
lection the fact may be noted that Brit
sh manufactures are still exported at
,he rate Of $l50.000O00 month.
But, be the competition for foreign
markets after the war more or less in
ense than heretofore, this fact stands
nut clearly: leaving out Of sight the gi-
,antic task of repairing the material
waste Of war in Europe, the needs of
countries are growing with
teadily increasing rapidity. They are
BILE to absorb, in one form or another,
II the complex appliances of our mod
rn civilization, all the aids of material
omfort and well being that we have
ONE to regard as commonplace necessi-
les. but with which the world at large
] but sparingly supplied. The demand
ill not be lacking ii we stand prepared
. meet our prospective customers half
'ay.