New Britain herald., 1917-11-27
HIGH PRODUCTION
 AND FOREIGN TRADE
Must Develop to Enable Country
 to Use Full Strength

New York, Nov 27.-American in~ dustries must be stimulated to high production and \ Americas foreign trade must develop to enable this country to use its full strength in
 winning the war, declares the National Foreign Trade Council in a report sub mitted yesterday to President Wilson, "Practically all the money in the
 Allied portions of the world, and most of that held by neutrals, in time,
 can be made available for our war
 emergencies if our production con- stantly provides a proper basis for foreign trade" says the Council The report was prepared by Lewis E. Pierson, chairman of the board of directors of the Irving National Bank, of New York. It will be submitted to the Ways and Means committee of the House of Representatives and to the Finance Committee of the Senate.
 It was drawn up in an effort by the Council to aid the government in the fixing of commodity prices and in the taxation of business profits. These problems are described by the Council as perhaps the most serious and difficult the government has ever encountered in it's relation to business interests.
 Asserting that in an ideal plan for price fixing and profit taxing. high production and not low prices should be the controlling consideration the report says: /
 If the final determination of the war is to be measured to any con- siderable extent by the relative eco- homie power of the ligerents-and, of course, it will be so measured-the existence of the things which money can buy will be of far greater inn portance than the possession of money itself"
 That leads up to the statement that most of the money in the allied and neutral world can be made avail able for our war emergencies by prop CT maintenance of foreign trade. For it is foreign trade, says the report, that lis the source from which the greater portion of our gold must come, and from which our national gold reserve will derive it's greatest security. Foreign trade also pro- vides the possibility of keeping the entire national energy at all times employed in profitable produAtion by creating a foreign demand for prod uctS for which there would be no de- mand at home.
 Effectiveness of American partici- patton in the war, says the National Foreign Trade Council, demands the maintenance of production in prac- tically all lines at the maximum ca pacity, and the maintenance of foreign trade during the war is most eff cient means of preventing disturbance of credit insuring funds with which to meet the needs of Government in taxation or loans; staOilzing condi- tiOnS of industry and maintaining the economic structure of the nation.
 For these reasons the Council rec ommends to the Administration and Congress the coordination of its ef- forts at price fixing and taxation upon principles that will stimulate produc- ton, insure the fullest maintenance of foreign trade and so provide a steady source of funds for the vigorous prose- cution of the war. The "only really big thing in the world today" con- tinues the report, lis to win the war" In winning the war, the big things apart from securing the fighting men, are ito produce and conserve" In such a situation we should not be