The Washington herald., 1918-09-16
TRADE LOSSES
ARE OVERCOME
American Commerce with
World at War Bigger.
Says Holland.

states has had no trade either way
with Germany and very little with
Austria nevertheless we have in.
years so that IL amounts in money
value for four years 10 a little over
s2s, 600. 900. 900. Germsny's trads
with us before the war was one o,
the most important Of our com.
mereisl activities and the prospect
were, prior to 1914. that this trads
would be greatly increased In tho
! course OF few years. German
was compelled TO abandon Il not be-
cause the United States wa. unit
1917 one Of the belligerents but be.
cause her commerce across the sea-
was practically stopped by IN,
blockade which the British nav
maintained. Germany did eYporf
some commodities through swftz.
erland and at one time there was .
trade between Italy and GERMANY ir
which American commodities form.
ed considerable part which must
have been Winked at, at least befors
Italy found herself and entered int,
the war in earnest.
A careful examination Of the fr.
ures now reported telling OF IN,
] magnitude Of our foreign commerc.
since the war began furnishes many
interesting and important facts
( First Of all is the enormous increass
in our exports Of manufactured
commodities. The money value Of
these exports for the first four years
Of the war is now reported 10 be in
excess slightly OF the money value
Of our exports OF manufactured
products as these were between 1891
and 1914
Big Corporations Help.
The United States was not = very
large exporter OF manufs ctured com
mOdities until after the Organization
Of the United States Steel Corpors-
tion. the International Harvester
Company and the great corporations
occupied with the manufacture Of
electric apparatus The statesmen
and men Of finance OF Europe were
persuaded that while the United
States would maintain and perhaps
increase the prestige she had gained
as an exporter OF food products. she
could not hope to compete except in
limited wav with Great Britain or
with Germany so far as the exports
Of manufactured commodities was
concerned.
Early in the present century man
who was OF high financial authority
in London visited the United States
and upon his return 70 London ne
told his friends and associates that
they were blind 70 the advance which
the United States was making In the
export Of manufactures. He went 81
FAR as 70 say that IL was possible that
within few years American exports
OF manufactured commodities would
in money value surpass that OF our
exports Of food That change in our
foreign trade was observed soon after
the beginning Of the first sdministra-
tion Of President Wilson Now We
are exporting manufactured COM
modities greater IN money value
than our exports OF food.
OF course, much Of this increasr in
our exports OF manufactured articles
is due to the demands made bv our
allies and by the Latin-American ma
tons for manufactures which before
the war they did not buy IN th.
United States. and it is also due 10
our manufacture Of munitions Of WAT.
II is now admitted that had the I-uft-
ed States refused 20 sell war COM
modities 20 any or the beIliEerenfs
after the war began, Germany would
have been victorious IN the first ,car
OF the war. Great Britain and Francs
did not possess the facilities or ne
raw material which were Necessary
Tor the manufacture Of the munitions
OF war Therefore these nations turn-
ed TO the United States. and the sud-
den jump in the money value OF our
exports, explained partially by hi=1
0
TO the emergency demands Of Great
Britain, France and italy.
May RctnIn Commerce.
1t is believed that II adequate PRO-
arstions are made for maiutai lining our
| international commerce after the war
I is over. We can retain the prestige We
have already gained as exporters OF
manufactured products
! A part Of this enormous interrH-
tional trade is offset by the Increase
! in imports for a like period The
money value OF these imports is a
little under 5000. OOO. OOO And
! that Is an increase OF about So. On0. =
/ 100000 in foUr-year period.
/ These imports will serve OF course
10 onset the great trade balance vra-
ated in favor OF the United States
. - AAAAH ANAA eNhA u dANH .MGh GELIlf.H
A serious question arises respecting
the ability OF the nations which haze
/ purchased so heavily from US finally
TO liquidste their obligations 10 rs-
Most Of them are now doing 'h Il
| temporarily, 50 to speak. for We are
not only selling manufactured uro-
ducts and food TO our allies hut wa
( are lending them the money to raw
: these obligations. Those loans. how
ever, must he ultimately Maid and
some OF our leading men OF inar,a
are now Of the opinion that the hest
and possibly the only wav in whfrn
perfect Liquidation can he secured
will be through the investment b, the
United States OF large amounts ~
money in industrial. railroad. mining
and other activities in other lands.
Better shipping Facilities
There seems now to be no doubt
I that we are to have adequate ship
ping facilities whereby our manu-
factured commodities can be car
| ried after the war to other parts
OF the world. certainly in case there
be favorinc legislation enacted hv
Congress; and there will proba bly,
be an adequate supply OF sailors
Our manufacturing plants will he
well equipped for meeting orders
/ sent from other parts OF the world
/ and there is speedily TO be estsb-
! lished an international trade or
EaniZation by means OF which
J young men can be taught the es-
sentials necessary for becoming
| successful statesmen in other lands
One OF the peculiar features con-
! tsTned in this report Is a statement
| that our exports OF raw material
! which are used In manufacturing
have declined in the past four
years The money value OF these