The commonwealth. (Scotland Neck, N.C.) 1896-1929, 1916-01-13

facilities and transportation, the
adoption of products and sales me-
thods to the varying demands and
customs of the market in other
countries, proper packing, know
ledge of foreign tariffs and the need |
for the investment of American cap
ltal in foreign fields as stimulus to
export trade were thoroughly dis
cussed.
The practical application Of these
principles, now generally accepted,
will furnish the basis for discussion
at the Forthcoming meeting. It is
proposed to consider the formulation
of a sound business and government
tai policy which will muster every
possible resource Of the United
S ateA TO the extension and retention
OF lis commerce beyond the seas.
Business men from all sections OF
she country have accepted an invita-
tion TO take part in this conference.
The gathering will represent all the
manufacturing, merchandising, agri~
cultural. mining, railway anc 7tzam-
ship transportation and banking
clements engaged in O. affected by
foreign trade.
UNITED STATES MUST BE PREPARED.
The problem before the United
States,'' says MIR. Farrell. lis not to
engage in fierce trade rlvalries with
other nations but to prepare this
country to discharge efficiently It's
] function IN world commerce. There
IS nc question OF greater Importance
I to the welfare of American indus
trial enterprise and labor than the
S stimulation of commerce abroad
since extensive overseas trade tends,
i ander normal conditions, TO stabilize
B domestic industry by insnrlng tt
Z manufacturers ana producers 3
3 wider sphere Of activity.
& The heavy sales of Amerc;n pro
& iucts atroad since the Europea,
3 :onfi ct began have furnished {
: stricking illustration Of what il
!, means to have access to foreign
: markets when business in this coun
o try has become depressed and thu
: domestic demands fall below tn,
productive capacity of our mills an6
i factories.
o "But inasmuch as our presen
J. advantageous position, with a vas
:; excess Of exports over imports,
O largely due to the abnormal condl
q tons brough: about by the war. /
s cannot be relied upon as pernna
is nent foundation. 1t does not serv
J. as a criterion of our future position
e lii international trade.
5. "Whatever may the outcome O
il the European war, changes in terri
a. torial lines or colonial dominatlo
& each of the belligerents will find i
s. essential to pursue foreign trad
% vigorously to repair the ravages i
its domestic commerce, to provid
4 labor for the men releasdd from tn
e armies and to ameliorate the great
d iy increased burdens Of taxatio
e which enormous war loans will i'm
V pose on the people whhn they return
o to peaceful persuits.
SIS Diplomacy Of the future, as
as the past, will be concerned intimate
t. ly with commercial aggrandizeme1
n and it is Of vital consequence to tn
It. future position OF this country tn:
lie advantage be taken Of the prese1
ar opportunity to exploit the produc;
We # American invention, enterpris.
IS ingenuity and quality-to establis
fe 3 firm foothold in the markets
,, the world which neither polite
We effort. tariff discrimination nor 10
nc, prices OF competitors can success
ey fuily assail.
"a WORLD TAKES UP THE DOLLAR.
Other Countries are fast .earnir
- TO do business with US in terms
the American dollar instead Of Il
:. English pound sterling. This
-, owing to the fact that under tt
~ new banking system national BAN
-. are permitted TO establish branch
abroad for the assistance and e
couragement Of foreign trade, 81
h, conditions in the foreign exct,an,
=, market the world over for the la
twelve months have made it adva
tageous for all who could do so
settle their indebtedness to tt
In country in Amerscan dollars.
The large gold balance accum
lating here has caused many cou
tries dependent upon foreign inves
nnent for their development and e
pansion of their purchasing power
to hope for loans of American capt.,