The sun., 1916-09-22
FARRELL PREDICTS
BIGGER U. s. TRADE
Steel Corporation Head Says
It Will Surpass All Rec
ords After War.
NATIONAL COUNCIL ACTS
Resolutions Passed to Retain
and Extend Our Foreign
Business.

After hearing James A. Farrell,
president Of the United States Stool Cor
poration. predict that American overseas
trade viii surpass all records at the
n Of the war the National Foreign
Trade Council. meeting At the Biltmoro
yesterday. passed several resolutions
based on . study Of how our normal
trade can be retained and extended.
Tho council spoke for IN American
tarin system. whatever its underlying
principle. that "shall possess adequate
resources for the encouragement e the
foreign trade By commercial treaties or
Agreements or executive concessions
within aslnsd limits. and ~ protection
from undue discrimination In he mar.
ksts Of the world"
It also advocated legislation permitting
American exporters to combine. exclu-
sively for foreign trade. as do their rivals
abroad. This is ar Endorsement Of the
principle Of the Webb bill. which passed
the House. but had trouble In the Senate
and u to come up again In the next scs-
sion Of Congress.
Mr.. Farrell. speaking a. chairman Of
the National Foreign Trade Council.
said
The present prospect 10 that when
peace settles upon Europe there will re-
main " commercial groups. the menu
bers Of each undertaking Q system Of
mutual trade preferences. which may
automatically create determinations
against neutralA II would be unwise
IN aQatSnnn a. VnanO Al thae ehA hloHlp
artificial system Of commercial prefer
ences after the var will break Of It's
" weight
U. 3. 10 Have Greatest Gold Heard.
AT the end Of the conflict the United
States will have the greatest gold &C.
emulation ever possessed by q single
nation. American foreign trade will
surpass ali records. The United States
will be both tho largest customer and
the most formidable competitor Of Eu-
rope--a powerful position II safeguarded
by q sagacious policy.
"Since tho total foreign trade of the
United States normally 10 about one
twelfth Of that Of the entire world. and
since both exports and imports serve the
interest OF U international neighbora
n ourselves. II would seem that some
hiNNitou oAouiu 10 uoNlScu VI aITlSlUk NJ
a friendly adjustment Of commercial, r..
lations without resort to extreme dis
elimination possibly leading to trade
wars"
Possible discrimination against the
United States resulting from preferential
agreements among the European eco
monte alliances was emphasized in the
resolutions that were adopted.
A report from a committee headed by
willard ID. Straight noted that the pres
ont public discussion Of the tariff relates
almost wholly to its domestic aspect. lit.
tie being heard Of its administrative
character. whether It should be . maxi.
mum and minimum. a general and con.
v%entionaL . reciprocity or bargaining
tArin.
Tariff Elasticity IL vital Need.
Tho war was declared to make thl.
question OF the highest policy. which Con.
gress. aided by the Tariff Commission
was urged to investigate. The repor,
said that the abrogation by war OF Eu.
ropean commercial treaties. the revision
Of European tariffs after the war and
the possibility of the United Kingdom,
abandoning free rad will give European
| nations q basis on which to demand tina
neutrals. including South America. gran,
concessions In return for their favorable
admission to European markets. The re.
port added:
These circumstances show tho neces
sity for a greater elasticity thai now oh
tains In the American tariff system. re-
gardicss Of whether the tariff Is main
tained for protection or revenue. or par
TALLY for each. 1t 10 obvious that tn,
United States should have some methot
Of adjusting its tariff to new condition,
created by political or Commercial