Brownsville herald. [volume] (Brownsville, Tex.) 1910-current, 1917-11-26

U.S.. TRADING
ACKNOWLEDGED
NATIONAL FOREIGN TRADE COUNCIL
SAYS IT MUST BE DEVELOPED
IN ORDER TO AID THIS
COUNTRY TO WIN WAR.

NEW YORK, Nov. 26.-American indus
tries must be stimulated to high produc-
ton and Americas foreign trade must de-
velop to enable this country to use its full
strength in winning the war, declares the
Nationd Foreign Trade Council in a re-
port submitted today to President Wilson.
"Prsctically oil the money in the allied
portions Of the world. and most of that
held by neutrals. in time. can he made
available for our war emergencies II our
production constantly provides q proper
basis for foreign trade" SAYS the council.
The report was prepared by Lewis r..
pierson. chairman If the board of directors
Of the Irving National Bank. of New
York. II will Ice submitted to the ways
and means committee Of the house OF rep
rcSentatives and to the finance mint
Of the senate.
II was drawn up in an effort by the
Council 10 aid the government in the FIXING
If commodity prices and IN the taxation
of cuisines, profits. These problems are
described by tho council a. perhaps the
most ,eriou aud difficult The government
nN& ever tffbuuititu III W. -
business interests.
Asserting that in an ideal plan for price
filing. and profit taxing, high production
and low prices should he the controlling
consideration the report says:
III the final determination Of the war
is to be mea sured 10 any considerable ex-
tsat BY the relative economic power Of
the belligerents-and. OF course. il viii he
% meaxured-the existence at the things
which money can huy will be Of far greater
Importance than the possession OF money
itself"
This leads M 10 the statement that most
or the money in the allied and neutral
world can lie made available fer our war
emergencies by proper maintenance of for
cfsn tfade. For il IN foreign trade. says
the report. that s'is the source from which
the greater portion Of our gold must come,
and from which our national gold reserve
will derive its greatest security. Foreign
trade also provides the possibility of keep
ing the entire national energy at all times
employed in profitable production by Great
ing q foreign demand for products for
which there would be no demand at home"
Effectiveness of American participation
in the war, says the National Foreign
Trade Council. demands the maintenance
Of production in practically all lines at
the maximum capacity, and the mainten-
ance Of foreign trade during the war IS a
most efficient means of preventing dis
turhance Of credit, i~nsuring funds with
which to meet the needs of government in
taxation or loans; stabilizing conditions Of
Industry and maintaining the economic
structure Of the nation.
For this reason the council recommends
TO the administration and congress the CO.
ordination Of its efforts AT price fixing
and taxation upon principles that will
stimulate production. insure the fullest
maintenance of foreign trade and 50 pro-
vide a steady source of funds for the
vigorous prosecution Of the war. The
..onIy really big thing in the world today"
continues the report. IL :" win the war.
In winning the war. the hig things apart
from securing the fighting men. are ITO
produce and conserve In such q -itua-
ton we should not become So 'ob>c~~cd
with the idea of the value Of money rs to