Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1917-12-13
EXPORTS s6,0O0,OOO,0O0
ABOVE IMPORTS IN 1917
Measures for Making Most of Trade
Opportunity Foremost In
Rcdfield'S Report.
URGES PASSAGE OF WEBB BILL
Country Holds Greatest Gold Re-
sorvc Ever Known to World-Big
Economic PriZe on Which Rests
Whole Nations Credit.

WASIIINCiTON. December l2.--Mcas-
ures for making the most of Americas
world trade opportunity arc foremost
III Secretary Rcdfcld's report of the
many activities of the Department Of
Commerce presented to-day to Con
greSs. The department probably con.
ducts moro different phases OF govern
ircnt work than amy other. and while
al! arc touched upon in the long re-
port. measures for promoting foreign
trade and an account of the years
commercial operations stand at the
top OF tnc list.
The visible balance OF trade in ia
ror OF the United States on merchan-
disc transa ctionS for the fiscal :ear
ended June 80. 1917. IVES $3.63t.f50.oo5."
:ays ;hc report. The total OF our
merchandise export trade was sG.oaS.-
s0b.0b3. and OF our import trade, 81,
6J?.355.lS5. During the three months.
period from the close OF the fiscal yea-
TO october ], the merchandise exports
have been Si.3l9.2l3.625: the imports.
s'29.s1S.Ol'. and the net visible balance
$3.50. o25,60S.
The department. earnestly hopes for
'ne passage early in the coming session
OF inc so-called Webb bill now peud-
in. in the Senate. Thi. measure u.il,
nave an important bearing In prnmot-
ing our foreign commerce. II vii.
'''' zen one Of Tie weakest points
''Fe'En trade and will give
commence to many manufacturers
ana merchant TO undertake foreign
the authority this measure win 80
ne feels himself excluded.
GREATEST GOLD RI:SI.K,E
.r, WORLD EVER KNEW
'ais country now holds the greatest
IeSe!'e OF gold the world has ever
'n' u Is great economic prize. On
H. as secure base. rests our n,tyo,,i
State municipal, corporate arJ nrt,.a,
credits Let i, be seriously diminished
ana the volume of credits thar wc c.n
give Is thereby diminished also. There
arc out Jew ways in which This "a.
serve. based on which our credits de-
peho' can he adequately protected from
.o''U'..Ie attack. Among these methods
are 'oa ms abroad. investments abroad.
sales abroad. services abroad Nv orc
or another of these methods or h.. com,
pihh''ohs OF them We can keen Tie
current OF exchanges so flowing that
our So!u reserve may resist serious
di"inu,ion. In so doing VIC conserve
our power TO give credit. which ia IN
say our power to do business "a, a
large scale. This means en,rloynen,
activity. occupation. We are becoming
accustomed to loans abroad We arc
beginning. but as yet only beginning
10 make investments abroad on am
considerable scale. We are not yct
rendering services abroad on large
scale such as insurance or trans
portation.
We must hold as fully as we can
the volumne OF our foreign commerce
intact. II We fail TO take these eco
noihic movements at their true value
the result Will be upon our own heads
and We shall only have ourselves to
blame. We may, indeed, continue az A
going concern, but we cannot hold "A
place Of financial and Industrial and
commercial power in the world unless
We keep the cred!tEivinE power. This
situation i. comparatively new to