New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1917-01-27
No Enduring Prosperity
Without II, He Tells Pitts
burgh Convention
MUST BE GENEROUS
TO STRICKEN EUROPE
Preparation Against Dis
elimination and Need of
Ships Urged
By JOHN ]. LEARY, JR.

-. keynote at to-night's banquet OF
Tho National Foreign Trade Conven-
t;on. Sounded by James A. Farrell,
,-ssident of the United States Steel
conoration, it was repeated by John
y Ryan. president OF the Anaconda
Conner Company, and Endorsed by Ed
ward \. Hurley, chairman of the red
,ral Trade Commission.
From Washington Mr.. Hurley brought
che assurance, comforting to the dele
...es. that the Webb bill, permitting
.orobinstions TO handle export trade,
vould be enacted into law. Other ad-
vices from Washington. however, made
many doubt his assurance.
But" said he, successful foreign
trade will not come from passing bills
through Congress. After the Webb bill
il on the statute books vast amount
a, work must be done in educating
American business men in the methods
q, cooperation and in the complicated
details of selling goods abroad. We
rust learn how 20 do the thing.
through the addresses ran the ides
which in every discussion Of the con
vcntion has become prominent-the
need Of adequate banking facilities Tor
handling trade and extending to Europe
the credits that will be demanded rs
necessary instrument in securing
larger and permanent foreign COM
mercc.
Must Be Generous 10 Europe
To get foreign business after the
war. Mr.. Farrell told the delegates,
thew must approach Europe in the great
shirt of generous accommodation IN
which our merchants, manufacturers
and bankers addressed themselves TO
tbe relief of the sufferers of the his
toric disasters of Chicago, Baltimore
and San Francisco.
HHere.p he said, "the path of devas-
tation has had broader sweep ano
more tragic Accomplishments. Inc
forces of destruction have been fed by
draining the very life's blood Of the
nations in capital and man power.
Wealth has been lavished on the an
Inhalation of wealth; the savings or
one generation have been used to i'm
poverish another. But from the whole
chastity conflict will emerge regen-
Grated Europe, a Europe with nobler
ideals and higher standards Of at
tsinment, both in spiritual and ma
terisl things
At another point in his address Mr..
Farrell said:
ct is significant that many of the
order, for munitions now placed IN
this country provide that should their
L 80 I'D h. n oil uG
Of the war delivery will be taken Of
an equivalent amount of material for
peaceful purposes. Thus, as the war
demand abates. our mines, forests and
workshops will be drawn upon TO aid
in the reconstruction OF great devas-
lated areas and the re-equipment Of
ruined industrial plants.
New Drafts on Surplus Capital
"All this will mean new drafts on
our surplus capital, but it will also
mean prosperity to our productive IN
dustry, and will thus provide q profit
able return on the capital it employs.
I'VE shall greatly lessen the posi-
biity of perpetuating in the domain
Of commerce the bitterness and hatred
engendered by the war If we refuse
10 be drawn into any convention,
agreement OF uiAdtA cSolANAAk N'iNN
would make US parties to a boycott
Of the commerce OF any Of the nations
now arrayed against each other. To
meet any attempted discrimination
against the exports of the United
States we shall be free 70 choose our
own means and TO invoke the aid Of
our own government.
But the American people will be
prompt TO recognize the fact that the
poverty Of Europe cannot contribute
10 their welfare, any more than the
misfortunes of their commercial and
Industrial rivals can promote the pros
perity Of their foreign trade. | see
no reason 70 doubt that thew will pre-
pare 10 do their part in laying the
foundation Of a permanent peace on
the firm basis of mutual respect and
even-handed impartialty and fairness
IN the dealing of commerce.
Peace League Debatable
But I cannot help thinking that
above and beyond the bearing of our
domestic policy on the outlook for our
foreign trade we must set ourselves to
grasp the larger and more vital princl-
Dles Of international cooperation. IL
Is a debatable question whether the
United States can become a member of
an international league Of peace for the
prevention Of further war, but It rs
not at all doubtful that we can render
an invaluable service to the establish
ment of lasting concord among the
peoples Of the earth by setting our
face against anything that looks to the
perpetuation of commercial war IN
peace"
In closing. after dwelling on the re-
quirements of Europe, Mr.. Farrell said:
In sober truth the motto of this con-
vention. Greater Prosperity Through
Greater Foreign Trade might with en-
ire correctness be made 70 read:
"No Enduring Prosperity Without
Foreign Trade"
Mr.. Hurley in his address paid par
tculsr attention to the needs OF better
business methods at home to get trade
sbroad.
Need OF Shipping
The need of shipping and shipping's
needs we're considered at the day meet
lng of the delegates. Captain Robert
Dollar, of San Francisco, veteran Pacific
trader, in presenting the report of the
Merchant Marine Committee, denounced
legislative distractions to the develop
ment of the American merchant ma
rne. declaring: what we want Is a
little more construction and little
less destruction in our governments
policy"
J. ". Powell, president of the Fore
River Ship Building Corporation, sub
diary OF Bethlehem Steel, laid en-
pnssis OF the necessity Of selecting q
definite method TO minimize the effect
81 the slump in shipping due when Ger
msny's immense tonnage is released.
This point settled" said he, there