Albuquerque morning journal. [volume] (Albuquerque, N.M.) 1903-1926, 1916-12-09
FOREIGN TRADE
GROWTH HAS BEEN
UNPRECEDENTED
Report of Secretary of Com
merce RedfieId Shows Re-
markabIe Strides Made in
Business Development,

ley MORNING JOURNAL SPECIAL LEASED wlRHl
Washington, Dec. S.-Unprecedent-
cd growth Of the country's foreign
| trade, the commercial advantages
which will accrue from peace and the
opportunity presented for a heavier
! export business and greater invest
ments abroad are set forth today by
| Secretary Redfield, of the department
| Of commerce. in his annual report.
| The report gives figures showing the
nations trade expansion of two years
and sums up the country's CONNER
| cial dominance as follows;
"Our foreign Indebtedness has been
! reduced possibly three billions. We
| have loaned abroad a total sum since
| the war began on August !, 1914, es-
! timated at 81 500 100000 and in
Creasing We are the wealthiest ma
ton in the world ana the most pros
porous one We have not wasted our
men or means in war Relatively to
our fiscal power today our debts are
trifling Nations less wealthy than
some of our individual states bear
heavier burden of debt and interest
than we.
Only Great Nation at Peace.
I'VE are the only one Of the great
industrial peoples at peace. Nations
turn to us for goods and means with
which to pay us for the goods. None
Of us, in our widest financial fanCies
five years ago, would have dreamed !
that things could lie as now they are |
"TO protect our reserve Of gold !
which is the ultimate base on which |
our domestic credits rest, we must |
maintain our export trade and must |
continue to increase loans ana invest |
ments abroad. The work of the bu |
reau of foreign and domestic COM
merce is devoted to these important
duties. The report Of the chief OF !
that service shows its extraordinary
growth and effectiveness. In thous-
ands of business offices it's aid is ac-
knowledged and Welcomed. Never
has our government put at the dis
posal Of our business and industry
the helpful facilities that are now pro-
Vided.
1T is Of national importance that
the great service which shows such
practical results should be given the
men and money necessary to carry on
its great work even more efficiently
The force Of commercial attaches
should be enlarged. Further sums
should be provided for the foreign
travelling service. The department
acknowledges with keen appreciation
the aid which congress has given. The
funds for promoting the foreign trade
of the country are now five times
larger than they were four years ago.
The results are many times greater
than the increase in funds"
More Money Needed.
The secretary urges larger appro-
prations for all the bureaus of his
department, and for enlarged build
ing facilities. Experts in many lines,
he says, are being employed con-
stantly at higher salaries by private
concerns, thus Gripping the depart
ment in its work. This is particular
ly true. he says, of the scientific bu-
reaus Higher pay is asked for these
experts. q
Never" says the report "has the
demand for scientific and technically
trained men been so great as at pres
ent. This has resulted in the loss of
many well-trained men in the bureau I
of standards staff The time has l
come when some Of the salaries paid J
such experts must be increased or
their services dispensed with. This '
can not be done without a loss in I
quality and the deterioration of the t
high standard of the bureaus work" I
Experts in the bureau of foreign ]
and domestic commerce. the report
declares are paid much less than men !
placed in other government a
departments and in private employ. a
The report tells of efforts during
the year to reduce industrial wastes b
and of its paper saving and other o
and work in introducing a
new sea foods through the bureau of f.
fisheries. E