Der Sonntagsbote und der Seebote. (Milwaukee, Wis.) 1912-1922, 1917-10-28
1.-THE GREATEST PORT
IN THE WORLD"


New York. 1t is instructive to
trace the course of history that
has changed the currents of
commerce. the location of trade
routes, and at last has thrown
domination at our heads,
whether we will or no.
All during the middle ages
the commercial, financial and
shipping center of the world
was in Italy. Venice and Genoa
strove for the palm. The great
trade was between western
Europe and the Orient, via the
Mediterranean. At the western
end of the route were the Italian
cities, which transshipped, Stor-
ed and distributed goods for
the western world.
The Saracens took Constanti-
nople, conquered Egypt and
closed the overland routes TO
Persia, India and China. There
with the glory Of Venice and
Genoa departed. in search OF
a sea route to Asia, the Portu-
guese sailed round the Cape of
Good Hope and Lisbon became
the worlds port, the clearing
house between east and west.
The Portuguese were navigat-
ors, but not merchants. Nor had
they the financial strength to
handle the trade they had
brought upon themselves. The
Dutch had the money and the
merchandising skill; they were
also sailors. They drove the
Portuguese out of the field they
had discovered. Antwerp on the
Scheldt replaced Lisbon.
Amsterdam, also Dutch, re-
placed Antwerp and was the in
ternational world center until
the British fleet drove van
Tromp off the seas and wrested
for Great Britain the eastern
trade.
London's dominion was built
upon the monopoly of the Eng
lish East Indies Company and
the monopoly of the trade OF the
North American colonies.
The products OF tine old cast
ern and the new western world
had to come to London in Brit
ish ships, and in London be
stored, financed, sold, transship-
ped to other lands. AS shipping
center London to-day must dis
pute the palm with Liverpool,
Antwerp and Hamburg; but as
warehousing and financial mis-
tress of the world, the city on
the Thames still reigns supreme.
Until three years ago New
York was great because it was
the chief outlet of continent.
We were not a transshipment
nor re-export center. London
did our international financing
for us. We paid in sterling ex.
change and we were paid in
sterling exchange.
To-day we have risen to be
the greatest manufacturing ma
ton in the world. That means
that unsold cargoes of wool,
hides, sugar, rice, jute will be
consigned to New York to be
sold en- route or stored and dis
posed of in the market that
serves the worlds chief ;ndu-
strial center. Work for the
warehouses and the bankers
who carry these productsl
The re-exportation Of these
goods TO minor markets will re-
suit in a large volume OF freight
to be added to our domestic ex-
ports and so supply the basis
for more varied and frequent
ocean service from New York.
Our export trade has risen
from two and half to six bill
lion dollars = year. Every one
is buying in America. Because
of the paralysis Of non-war in
dustries elsewhere and because
Of the great purchases from
America that must be made for
reconstruction, all the world is
going to want dollar exchange
dollar exchange means the
right to receive money in New
York" Because dollar exchange
is generally acceptable It is 60
ing to become a standard me
dunn Of payment between for
eign countries. American banks
are going to get part Of the
rich toll that London exacted
from merely acting as an inter-
national financial clearing house.
The course Of events destines
us to commercial leadership.
What sort of leadership that
will be depends upon us. We
can, if we insist, prove so in
capable that the opportunity
will be taken from our grasp.
New York needs great deal
Of constructive thought and
constructive planning before size
IS ready to take the place of
London. We need new spirit
OF cooperation between business
men. We need a new snirit Of