South Bend news-times. (South Bend, Ind.) 1913-1938, 1917-01-27
FiDe Minute Talks
By National Leaders

as a barrier 10 the larger banks,
who, in their keen pursuit for eX-
pansion i'm business, are less likely
to respect former restricted territor-
ial rights While this feature main
ly affects home conditions. there is
likewise to be considered the prob
lens which confront us in our for
eign banking relations.
1t would be we'll to study the OBJ
jects of the new British Trade
bank" now in process of formation.
for the purpOse-as its name implies
of furthering the commerce of
Great Britain. That institution, when
organized and operated under eff
cient management, with the power
to base on its capital a forceful sys-
| tenn of credit in the shape of ac-
ceptance, will no doubt soon gather
the nucleus of a large foreign busl-
ness.
In the economic life OF a nation
commerce and banking are so close
! ly interviewer that it becomes es-
sential for every person engaged in
! business to have some knowledge Of
the parts played by these factors.
The nature and use of money, the
mechanism of exchange and the de-
lvelOpment of banking IN various
parts of the world are features Of
vital concern to the commercial in
terests Of our country.
1t is apparent that il will take
something more than the offering
of goods TO build up and hold the
! trade which we are now in position
TO control. We should look ahead TO
! future cOnditiOns-De prepared to
meet aggressive European trade
! combinations and keep pace with
/ the worlds industrial advancement.
Cooperative combinations such as
may be deemed eXpedient to develop
our foreign relations in normal
/ times. are essential and should in no
! sense be considered a contracuonal
restrait of free trading. a recogni-
ton of this principle in oversee trade
development is, in my opinion. most
necessary to our economic progress.
Such privileges very naturally should
] only be accorded American-owned
concerns. and cooperative owner
ship of stock in competitive organ
izations must obviously be proscrib-
ed.
If the claims for superiority OF
American goods are made aggres-
sive realities-and careful direct
and persistent efforts exercised by
American manufacturers in their in
PRODUCTION and exploitation, it should
not be difficult 20 make permanent
our present pre-eminent position in
world commerce.
II appears that to advantageously
maintain our place in the interna-
tional relations, We need not only
an efficient banking system and a
we'll equipped merchant marine. but
more especially, scientific CONNER
icial education. 1t cannot be too
strongly emphasized that these prob
llems must he seriously taken under
Amusement. as a plain matter OF
modern Development. requiring at
tention along feasible and intelligent
lines.
| Viewing The subject OF business
education from the standpoint OF
clear judgm ent. IL becomes apparent
that a necessity exists for training
our young element in the early stages
OF their development for business
and labors which will devolve upon
them when at manhood they enter
The business world today is vital
/ ~ interested in this problem, for nc
organization can succeed in a ma.
terial degree whose workers are no
efficient. The foundation OF nationa
. prosperity clearly rests upon tha'