The Washington herald. [volume] (Washington, D.C.) 1906-1939, 1917-09-12

BY a significant, although a merely
chance coincidence, announcement
was made upon the same day OF a
large falling off in our foreign trade
in July and also of the purpose of
the American international corpora
ton to undertake a world-reaching ex-
port trade in steel manufactured in
the United States. The Washington
the decrease in our international trade
in July, merely stating that that
trade was the lowest in money value
since February. 1916. In July the eN-
ports were of the money value of
1915, 100000 which is almost exactly
500, 900. 900 less than the money value
os the exports in June and about $780,
10000 less than the money value Of
the exports in July of last year. on
the other hand imports were consider
ably decreased. Nevertheless the
total exports for the twelve months
that ended on August l were Sc, 80, 0OO,-
600 and at no other time in our his
tory have exports of that money value
gone from the United States.
The suggestion has been made that
this falling OF in exports in July may
be due to the activities of the Ger
man submarines. That, however, is
not believed to be the real reason.
Probably a vast amount of commodi-
ties, especially food, were not ready
for export in July, but will be put
upon vessels between this time and
the end of the year. Those who are
best informed believe that the aggre-
gate of our foreign trade for the
twelve months of this calendar year
will be found greater in money value
than that of the preceding year.
The American International Corpo-
ration will as soon as possible enteI
the markets of the world that are now
available for the purpose of selling
american steel commodities. AS there
is only one corporation in the United
States which has endeavored to com
mand a considerable share of the mar
kets of the world for steel. the pre-
is that the American Inter
national Corporation will enter into
earnest competition with that LOrpo-
ration which is the United States Steel
Competition Of that kind,
however, will not be dreaded by the
steel company, nor will there be any
competition. One of the
reasons given for the belief that wn:!e
between these two cor
porations ray be carried on earnestly
but fairly is found in the fact that tie
corporation intends to
confine it's export business in the steel
viii n Il will offer in other
70 ti,ose which are produced
by the independent steel companies,
whereas the United States Steel Cor
poration will confine itself chiefly to
manufactured by the
various subsidiaries of that corpora
ton. Besides, the two corporations
believe in fair and reasonable
A year or two after the United
States Steel Corporation was or
ganized, James A. Farrell. now
president of that corporation, be
gan preparation for command of the
foreign markets for the products
of the corporation. Mr.. Farrell
built up a remarkable organization.
1t covered not only the science of
selling and the training of expert
statesmen but also various geo.
radical and political
of the other nations.
1t was perhaps the best training
school in the United States for any
who desired to be instructed in dip
lomacy, in world politics, in geo.
graphy and in trade. Mr.. Farrell
met with strenuous competition,
from the German manu-
facturers. He found that the Ger
man exporters were guided by
different methods from
those which were advocated by the
United States Steel Corporation,
that is to say, the Germans adopt
ed any means, fair or unfair. to Sc
cure trade, whereas the methods of
the Steel Corporation selling agency
we're in perfect accord with the high
est business integrity.
Notwithstanding this competition
and the almost equally strenuous
brought to bear by
England exporters the Steel Corpor-
atoms selling agency gradually !
good share of the for
eign trade. At last il was possi-
Bile to report that the money value
in single year Of the exports of
IRON and steel commodities includ-
ing those which were the product