The Richmond palladium and sun-telegram. [volume] (Richmond, Ind.) 1907-1939, 1917-12-26
GERMANS BUSY
FOR TRADE WAR
Of THE FUTURE
Shape Their Shipping and In
dustries to Go After Big
World Trade.

icduSie III I0c idI6 iuOuoIAloS ~
ceive hints almost every day which
confirm them in the belief that as in
tensely occupied as Germany is with
her military movements the Govern
ment Is not neglecting her nonmilitary
industries or her shipping, the clear
purpose being to have the industries
and shipping IN such good condition
after the war is ended that the Ger
mans may begin Immediately an at
tempt to regain some part OF the world
trade which was lost to them when
the war began.
Industrial leaders have been for
some time concerned over the appar-
entity indifferent or forgetful attitude
of the Government and many Of the
people toward the conditions which
will confront us Immediately after the
war Is ended. This morning an indus
trial leader, who is also a man Of
widely recognized financial ability,
said that 1t is appalling to those who
know what the condition Is to realize
that almost nothing is being done in
the way OF preparedness for the world
trade. commerce and industry which
we should have after the war is end.
ed.
America Is Preparing.
From Washington there now comes
information that the Bureau Of Fore
ign and Domestic Commerce has re.
Gently taken heed Of these future con-
tingencies. The bureau is beginning
to organize in such a manner as will
enable it to assist our industrial and
financial leaders so that they may be
able not only to retain the trade with
other nations which we have secured
but also greatly to increase it But
it is the opinion of men competent to
Judge that relatively as great prepare
tions should be made for the future
as are now under way for war pur-
poses.
The Washington Bureau of Foreign
and Domestic Commerce, whose men,
bers have made some investigation
into the situation, feels that it may
now venture to predict that the Unit
ed States will maintain and even in
crease the financial and commercial
supremacy which we have gained in
the past three years.
One reason upon which this official
opinion Is based is the belief that de-
mand will come to the United States,
especially from France and Belgium
and other countries, and perhaps from
Russia, for building material, machin-
cry, railway equipment, and, in time,
will be extended over several years at
least.
Can Maintain Supremacy.
With wise preparation and such
careful consideration of our future in
terests after the war is ended as is
now possible the official authorities
at Washington feel assured that we
can maintain and increase not only
our financial but also our commercial
supremacy after the war. Some fig
ures are given by the bureau of such
magnitude that the mind is almost
unable to grasp the meaning of them.
AS, for instance. it Is officially re-
ported that in three years gold has
come to the United States in such
amounts that we now possess fully
one-third Of the worlds visible supply
of gold. We are not likely to lose
much OF this gold, though some of it
will be exported to settle balances
with nations whose exports to us are
greater than our imports to them
The other day Argentina paid off a
loan of several millions, and it was
said by those who know that If the
movement Of money required to liqui
date this debt could be traced it would
be found that it represents some part
OF Argentina's favorable trade balance
with the United States, for we owed
on this account more to Argentina
than she owed us.
Nobody pretends to make any &C
curate estimate of the amount of
American money which has recently
been invested in foreign securities, ex-
cepting to fix the figure at a reason
able guess at many millions.
In Private Hands.
There is official record to show how
many millions of loans secured in the
United States by England. France.
Russia and Italy have passed into the
hands Of private investors or banks.
II, OF course, has been necessary to
make an estimate of the amount OF
our current world trade which Deem
Der exports and imports represent. but
it is regarded as a reasonable calcu-
lation that the excess of exports over
imports for 1917 amounts to $780,
10000. This should be taken into
consideration when the highly impor
tant and difficult financing which will
follow the close Of the war begins.
One of the astounding statements
made by the Washington bureau tells
of the money value Of our exports Of
1917 in completely manufactured prod
ucts. Unless the bureau is mistaken
we sold S3.000,000 900 worth of manu-
featured products not only to Europe
but to the far east and South America. !
Yet few years ago We sold to other
countries less than S1,000,000. 900
worth Of completed manufactures.
That is the kind OF trade which the
leaders in our industries and now the
Washington bureau OF foreign and do
nestle commerce will by means Of
thorough preparation seek to maintain
and increase after the European war
is ended.