Daily Kennebec journal., 1918-05-13
Monday. May 13. 1918.
Breaking Ties That Were Fetters

Breaking Ties That Were Fetters
The Guaranty Trust Co. Of New
York has dealt with a topic of more
than passing interest in paper un
der the caption. Breaking Ties That
Were Fetters" 1t is one OF series
of studies Of economic conditions in
institution, at :. time when the world
is vitality interested in programs al
ready being fevorishly prepared for
reconstruction the moment an armis
tice is declared. This is an outline
of plans being laid by Italy and
Spain to enlarge their respective
shares of world business after the
war Both are Latin countries. both
are producers Of similar food pro-
ducts. both have experienced great
industrial expansion since the war
began.
Quoting in substance from this
study Of Italys preparations for the
future. there is every indication that
industrial and commercial conditions
in the United States after the war
will be affected to a remarkable de-
gree by the measures which Italy is
developing to re-establsh herself
when on a peace basis. The efforts
which that country is making to ex-
tricate herself permanently from
those Tcutonic entanglements in
which long established and highly
profitable economic relationships in
volved her, deserve the closest atten-
ton of American business men. The
success Of those efforts depends in
large part upon how American pro-
ducers and traders receive the invi-
tation that Italy extends to them.
1t is not an invitation to the home
Of an utter stranger. While for
many years before the war Germany
and Austria dominated the foreign
trade of Italy and, by methods now
fully exposed and understood, con-
IIlNGu W ShlIdCL HUN lIltll opci
tions a lucrative return. Italy has
long been one of our best customers
on the European continent. In 1913
Italy imported more raw materials
and foodstuffs from America than
from Germany and Austria together.
but she procured her partly finished
and finished products to large ex
tent from her Teutonic neighbors.
Italian exports also went mostly to
those countries. Exchanges with
Germany in that year totalled SlS3,-
s72.05S; with Austria s93, i,457:
with England sl6l,s99,440; with
France $96.740.41I. and with America
sl52,o41,l1l. The total exchanges
with all countries. including these,
was sl,lS4,O9l,7 ,72J. Italy's invitation
To America. therefore, is not to enter
a new field, but tc extend and enrich
one that has already been explored
To no country engaged in the pres
ent war did ht;ligprency mean a
greater disorganiZation of established
enterprises and trade channels than
to Italy. Il was only when war
snapped the ties that bound her TO
&. her northern neigh bors that she real
: lied how largely they had become
fetters. and how far the Teuton had
insinuated himself into the control of
her important III dertakings, and into
the lines of communication that made
them effective in world competition.
Whatever the wal has cost, Italy s
men of affairs feel today that il has
been worth while in awakening the
~ "A ali nf urh1. a Y
hc done through new methods and
new associations tC place Italy in the
foremost RANKS of international
traders. To develop new methods OF
production and distribution. TO form
now relations through which to give
tho largest measure of effectiveness
and the most rcmunCrative returns
TO tho peculiar abilities of her people
and the fertility Of her soil is now
the object 10 wnjCh Italy's statesmen
ana fnanciers az" giving all the
thought and crerGy that can be
spared from tha immediate task Of
holding back the invader and pre-
serving her nationality.
The present war has reiuvenated
Spain. Like MANY another country
younger than herself She has been
forced TO rely upon her own efforts
to sustain her population and through
that experience she has come to be
producer for foreign markets on a
scale such as has given her inspira-
ton for the future. Her one thought
now is TO secure every advantage she
can before the commercial struggle
hnripa affpr hn war
In preparation for that struggle q
Commission OF the Directorate Cen
crsi OF Industry and Commerce is
now making a study of economic
conditions with the object of so di-
recting agriculture. industry and
trade In the future as 10 insure main
tenance of Spain's present favorable
international position.
The tremendous boom in foreign
trade brought to Spain by the war
quickly demonstrated the necessity
for improving the country's methods
OF production. conditions in the fac
tories, and transportation facilities.
From all that can be learned there is
still room for great reforms in the
treatment and payment OF the labor
ers. whether In the field. vineyard.
mine or shop. bu: under the impetus
of still greater profits. IL a wiser