Norwich bulletin., 1918-11-23
FORMING DECADE'S

The factors which will affect the development of our foreign trade un- der the new conditions Of peace, ac- cording to Allen Walker, manager of the foreign trade bureau of the Guar anty Trust Company of New York, are in the following order of importance ::
 1. Government policies = national and international.
 2 Finance.
 3. Labor costs-at home and abroad
 4. Shipping.
 5. Maintenance of our established national ideals.
 'HThe degree to which government policies will affect the development of our foreign trade cannot be estimated until we know the terms of peace and have some definite idea as to the form of the economic alliances which may tor may rfott be established between the allied powers, says MT. Walker. But this we do know-that the leg islative and administrative authorities, as we'll as the business men of the country, will have to think interna- tionally: will have to approve the problems of reconstruction, first of all, in a broad spirit of national service regardless of party politics and party heresies. What is said by prominent men during the next few months will have much to do with the develop ment of public opinion; much more 50 than in normal times. National poli- ties for the next decade now are be- ing formed, and what is said by men in power today will contribute much to the development of the interna- tional programme of the next several years.
 Internationally much will depend upon the agreements reached by the allied powers and upon the applica 1 ton Of the treaties which consun mate such agreements. have already expressed myself publicly in favor ot unofficial, international conferences of 1 the several industrial and commercial groups with leading finaneiers sitting l in and thoroughly believe that if these groups did nothing more than create machinery for the avoidance of the | destructive competitions of the past | they would achieve basis from wnicf the whole worlds prosperity could bt
 built up and maintained. And to those who ask how this could be done b5 the Associated Powers without i'm l posing everlasting punishment upoT the nations of the Central Powers, say that we can permit the enemy tt trade and earn his way out or th'
 processes Of reparation and restitu tion without permitting him to contre markets and concessions, as he did be fore the war.
 Finance has such a distinct rela tion to government policies, both na
 tional and international, that it migh
 be said to belong under the sam head American financing of foreigl projects received a blow, notably il
 China, some time ago. from which
 could not easily have recovered wer
 it not that the logic of events and tn
 demands of necessity have served |
 alter the whole international complex
 ion of things. But there should
 some clear and authoritative state
 inent of government policy in resar
 to the possible part Of the Unite States in international finance of tn
 future. The f1nanciers of the countf are entitled to know where and ho, they stand. Let us all understan
 that the American banker, like tn American merchasS and industr1alis
 may have a fair field and a chance : compete on an equal basis with hi : competitors in the different market of the world, and no more is askot That would be so much more tha ever has been available that such q 2 apparently conceded basis would [ 5 regarded almost as & flying start p l he investors of this country.