The Washington times., 1916-01-27
FOR TRADE
URGED BY FARRELL
President of U. S. Steel Corpo-
ration Points Out Need of
Foreign investment.

NEW ORLEANS, Jan. 27.-Word
trade and finance problems which will
confront the United States after the
close OF the European war were dis
cussed today at the opening session OF
the third National Foreign Trade Con-
venton.
James A. Farrell. president OF the
United States Steel Corporation. de-
clared foreign investment of American
capital would be prime necessity to
meet the kecner competition expected in
world trade after the war.
Mr.. Farrell pointed out that an in
vestment Of moro than 81 ,oOo. 900, 900 OF
British capital in Latin-America had
been sent to Latin America in the form
of goods of British manufacture; that
the interest derived from British for
eign investments, which total $1,000
10000 in value, not only Offset tho
United Kingdoms excessive imports
over exports. but retained and strength
ened the British hold on neutral mar
kets throughout the world. He said
British manufactures now are being ex-
ported at the rate Of $3.50, 900 900 a month.
Commercial Preparedness.
In conclusion. Mr.. Farrell said:
Foreign investment is Il commercial
Preparedness measure, a sUurcc of pro-
lection for the whole industrial fabric
of our country, should the world re-
Ccde to political-commcrcial Iolicie3 OF
Irade restrictions. 1t is an element OF
strength in our influence as a nati)a
should a wiser instinct realize that
the true guarantee of the worlds pcaco
is isr the b, provision of equal opportunity
Alba &: Johnson. president Of tho
Baldwin Locomotive WorNs in Phila-
delpffia, predicted a period of fever
ish activity in this country during tho
continuance of The war, and upon is
close a prostration of the industry and
commerce of all countries" He en-
phasiZed the necessity for q truly ma
prepare the United States for the
keener competition expected to prevail
in world markets. He cclled atten-
ton to the possibility of economic al
had united their fortunes fer war. and
Upon the possible adverse effect OF
such policies upon the trade of the
United States.
Sees Good In Trade Body.
Mr.. johnson said the Federal Trade
Commission doubtless would prove of
great benefit to American manuiac-
turers and exporters. He urged the
creation of a permanent tGritf COM
iHlSSion ". ciiStDle llie CliIcu ohat'"
to adapt itself TO the changed con-
ditions.
Edward ]. Bcrwind. president ct tho
BerWind White Coal Company, Discus
ing investments in latin-America said:
The change in the financial relations
of tho United States with the European
nations that has taken place within
the last year would be conducive TO
foreign investments. American capital
low has the opportunity as never be
fore to assume the relation to Latin
America that has been held heretofore
by the European nations.
There is probably more capital avail
| able for foreign investment at the pres
ent time in the United States than ever
| before and there is ample opportunity
| If the Investor and the opportunity CHn
be brought together upon n basis OF
| confidence and security poNerfW
| stimulus will DC given to our lnIeIGH
| trade, and an advantage will Gc Salnt9
| Tor our commerce that viii be dittcuH
| TO disturb.
Foreign Concessions.
Perhaps tue mCst alluIiuS investment,
! and at the same time the most danger
Gus. is the exploitation of foreign con-
| ccssions OF many varieties with wnich
| unsCrupulouS promoters appeal to tho
| Cullidity of unwise or nnwary investors.
| While in the aggregate the amount of
| money thus placed at risk is nor very
| large, tho effect upon the unfortunate
investors, ana indirectly upon moro
| cautious capital, is tc create distruSt
| OF legitimate and worthy inEestmC q 8
in the countries to the south of us
| 1.-THE eminently practical form OF IN
vestment in foreign countries is the cs-
! tablsihmeEt of branch factories or dis
titutins Gepots To care directly for tho
| trade of the tributary territory