New Britain herald. [microfilm reel] (New Britain, Conn.) 1890-1976, 1916-12-30
Henry CZews Financial
RepieW For Year of 1915

oOo,OVO OF horses and mules, $25,OOO,
600 of boots and shoes $4,000 600 of
| wooden manufactures, $50,OO00OO of
automobiles and s14,OOO,OOO of barbed
| WIRE besides millions in variety of
| other articles intended for war pur-
! poses. Much as the demand for war
| M; I" "ials stimulated our exports the
increase in legitimate export trade was
| far more important in value In
| products having no relation to the war
our exports were valued at $317O,-
! 100000, compared with S2,175,OOO, 900
! IN lS14. This was an increase of one
oll1on dollars or nearly so per cent.
| IN our legitimate trade. About half
| or this vast increase went to belliger-
ent Europe, the rema inder being scat
tered all over the globe. These figures
prove that the war gave our exports a
tremendous push forward, and the
vital question now is, Will this rate of
progress continue There is no sound
| reason for anticipating any disastrous
reaction. ESTABLISHMENTS and loss at
! some points must be expected when
| the war ends. But the war is not
! ended and long period must elapse
| even If negotiations are soon opened,
| before a peace treaty will be signed,
and the millions Of men now in the
| trenches return to profitable industry
| Furthermore, the energies Of the war
! ring nations will be fully occupied
! when peace comes with reconstruction
| of cities, mills, railroads, mines etc,
| on a vast scale. There will be a big
! demand for labor in Europe and our
| fear of an invasion of cheap foreign
| labor will prove largely groundless for
! the reason that wages there will have
| to be adjusted to the high cost of
Ii1,i,, ,11,
| taxation under which all Europe will
| have to struggle The fear of dump
| ing of foreign goods on American mar
kets has also been vastly exaggerated.
and there is no doubt but that the
United States will be able to hold a
] large portion Of its newly gained adj
/, vantages and probably make still
greater progress during the next
| decade. OF course, there will be
| severe international competition
! Germany and Great Britain will
| strenuously endeavor to regain mar
| kets lost during the last two wears
| This means that the United States will
| have to sell cheaply as possible.
! even if European goods cannot be
| marketed at ante-bellum prices Tor
| a year or two at least, this country
| will export large quantities of steel
| products and other raw materials for
| reconstruction purposes in Europe In
all probability the war will be followed
by period of worldwide expansion
and activity, which will also afford
larger opportunities for American
| manufacturers. 1t is not to be sup
posed that the ablest bankers and
manufacturers in the country would
| be making such energetic efforts for
securing foreign markets unless they
| had the strongest reasons for antici-
! pating success. A, moments refec-
ton will disclose that all our great
industrial and financial leaders are
deeply impressed with the oppor-
tunties for export trade and the next
decade promises to see great progress
on the part of the United States in the
foreign field. Success is inevitable
provided capital secures the hearty
| cooperation of government and labor
| both of which hitherto have been so
unfriendly. Foreign trade, as T have
remarked before, is purely a matter of
International barter, and If we wish to
sell we must stand ready to buy; re-
Numbering that all impedim ents
placed upon such interchange cause
loss somewhere. and usually upon
those who inf1ict them. American
industry passed the infantile stage
some years ago and is now in a stage
of vigorous youthfulness, quite ready
and eager to meet the older nations
of Europe on equal terms.
\ Better Railroad Outlook
Very significant changes have taken
PLACE in the railroad outlook during
the past twelve months. Corporation
batting is no longer as politically
profitable as it formerly was, a state
| Ment that applies to railroads quite
aA freely as to big industrial concerns