The Birmingham age-herald. [volume] (Birmingham, Ala.) 1902-1950, 1918-03-19
w. p. G. HARDING is
OPTIMISTIC AS TO
AFTER-WAR TRADE
Continued from Page one)

terials and manufactured products ana
branch banking in foreign countries.
] Senator Ransdall of Louisiana adVo-
waited use of the nations waterways TO
move freight, stressing the value Of the
Warrior river in Alabama and the Mis-
sissippi for Memphis and New Orleans
territory Another speaker was w. r.
| G. Harding, governor of the federal re-
serve board, who in predicting great ex-
pansion of American trade after the
war, said the foundation has been laid
4 in establishment of foreign branches OF
American banks.
| Great expansion of American trade
| throughout the world after the war
was predicted by w. p. G. Harding, gov
ernor of the federal reserve board in
an address here tonight before the
Southern Commercial congress. Its
[ foundation already has been laid III
| the establishment of foreign branches
| of American national banks, he SAID,
and normal peace times with an aug
mented merchant marine Will result IN
an increased Importance of American
international trade.
Our exporters and manufacturers"
said Mr.. Harding, should keep con-
stant1y in mind the great possibilities
of a world trade after the war is
over, and they should lose no oppor-
eCnity of arousing a sentiment faVor-
able to American goods in those coun-
tries with which our trade has here
tofore been limited.
National banks having a capital
and surplus OF a million dollars are
authorized by the federal reserve act
to establish foreign branches. and
there are today many branches of
American banks operating in Latin
America. South America, as well as III
European countries. These. branches
have been established as rule by
very large institutions, but several
banks have been Established which are
owned in whole or in part by groups
of national banks. and one of them
has at this time 4S national banks as
stockholders, who have thus combined
to facilitate foreign trade.
The foundation, therefore, for fl
nancing our foreign trade properly
through the medium of American in
stitution has already been laid, and
when at last the war is ended, and
the restrictions upon commerce can
be removed and greatly augmented
merchant marine can spread it's sails
Upon the seven seas and carry to all q
nations of the world products of the
farms. the mines and the factories, of
America, branches of American banks
VIII be found al the distant ports to
welcome these messengers of COM
A-ANi
coming and outgoing cargoes
The foundation of an American fl
nancial structure extending through
cut the world has been carefully con-
celyed and securely laid, and the
superstructure will follow as condi-
lions become more favorable"
Utilization of the nations water
ways as means of relieving the
railroads of their burden of freight.
oh hy ID
or Louisiana, in an adrdess before the
southern Commercial congress here.
Use or part of the $500,000,00O reyoly-
lhg FUND provide in the railroad bill
1or the construction of barges for
rivers and canals, Mr. Ransdell said.
would be an expenditure that would
contribute more to settle the trans
portatlon troubles than anything else
the government could accomplish with
an equal sum spent for any other pur-
pose.
Mr.. Ransdell made five concrete sug-
Gestions for water freight routes.
barges on the Warrior river in Ala
bama to supply Mobile, New Orleans
ana their vicinities with coal. steel
and other commodities
barge line on the upper Mississippi
hetWeen st. Paul and ST. Louis TO
carry coal upstream and iron ore
downstream
= barge line from st. Louis to New
ofleans to carry exports for ship
mont from New Orleans.
barge line on the Erie canal for
carving grain and other freight from
the lakes to New York city.
Additional barges for carrying coal
from Norfolk, Baltimore and Phila
lephia to New England.
Inese lines, Mr.. Ransdell said, would
ne IN addition to the use of the Chez
apeake-D Delaware canal, the intercoast-
al canal from Norfolk to Beaufort n
y, and the Ohio, Missouri Columbia
and other rivers.