The Bridgeport times and evening farmer., 1918-01-01

terprise is already entrenching itself and preparing to aid in the develop ment of the boundless resources of that continent. In Russia also, there are large opportunities for new en- terprise which will be available after the war. Our banking interests and our leading captains of industry have initiated movements for developing the resources of these great territor- ies with American capital and Ameri- can enterprise.
 The miraculous birth of a great chemical industry should not be over looked. Since the war began, over 32O,000,000 have been invested in new chemical ventures in this coun- try. Considerable of this sum was for the manufacture of explosives, but much of it has been applied to chemical and dye plants that will become a permanent factor in American industry. This industry means another big loss to Germany; and 1t has still to face critical period when normal conditions return. Ger man competition in dyes and chem icaIs after the war will unquestiona- bly, be severe; and in all probability Congress will be asked to grant some measure of protection, at least until the industry has been sufficiently es
 tablished to hold it's own.
 The Rush of Foreign Trade.
 Our foreign trade is expanding at tremendous pace. During the ten months ending October 8, American an increase of 100000 over the s2ne time last year. Presumably ! these figures include shipments of munitions to the Allies, but not those intended for our own use. Imports of merchandise during the same per- iod amounted to $2,504, 100000, an increase of $494,000,000. This left an excesH of exports for the 10 months amounting to S2,646, 100000, or $213,- 900, ,000 more than a year ago. While | this great balance in, our favor is be- | ing gradually liquidated in various ways, the great bulk of 1t is unques- tionab1y being met by credits in the form of notes and bond issues to our | Allies. Here is a striking conf1rma- tion of how the war has suddenly transformed us from a big debtor i nation into sill bigger creditor na- l ton. As might be expected, the gain in exports was chiefly with our AL 1 lies; shipments to, countries contig
 uous to the enemy having shown
 heavy declines. To France our ex- ports during these 10 months gained
 $94,000,00O; to Italy, $9S,00o,0oO; to i Russia in Europe, s46,000,00O; to Great Britain, $116,000,000; to Can i ada, $212, 100000 and to Japan, $46,- i 000, 900. By contrast our exports to Belgium, Denmark, Greece, Holland, 1 Norway and Sweden showed a decline l of nearly $80, 900, ,00C a shrinkage for, which our embargo was largely re- sponsible. The most impressive gain i in American exports was to Canada, whose purchases from us during this period rose from s4S1.000,00O to
 $693, 100000, which far exceed all , our exports to South America. Mean , while, our imports from Canada rose
 from $1S7.000,000 to $S28,000,000, a l total foreign trade with that coun- ! try of $1,021, 100000. Although con-
 siderable of this increase was due to
 munition shipments, it is surely time
 between two such good neighbors as
 the United States and Canada with
 South America.
 Our New Point of View.
 This war has also forced a vital
 change in our international position.
 Hereafter we shall look outward as
 well as inward; we will be vastly more
 interested in foreign ventures, and
 will find ourselves obliged to take
 an interest in foreign politics and
 foreign economic and social affairs.
 We have been rudely awakened to a
 new consciousness; a consciousness
 that we need other and larger fields
 for employment of our expanding re-
 sources, energy and skill. We can
 supply the world with many things
 hitherto supplied chiefly by Britain
 and Germany. The latter, though
 much crippled, will make strenuous
 efforts to regain her lost hold. Great
 Britain, re-energized by war, will be
 fully occupied in her own customary markets, even if temporarily crip-
 pied by the war. The United States
 is splendidly equipped to enter for |, eign markets, particularly in the steel and allied industries, and the country can look forward to conf
 dence to such outlets for our new growth. We possess capital ir abundance, and investors must be en- couraged to venture into foreign fields Our bankers, our manufac- :turers, our merchants and our car
 riers must also learn the value ot | the common purpose of winning for
 eign markets on sound and peaceful
 lines. Highly developed organiza- tion is essential to success. We must realize that if we wish to sell, we
 must also be ready to buy, and that ilall unnecessary restrictions upon le- gitimate commercial intercourse must ) to seek a more liberal trade policy l be abolished in order to facilitate
 sound and natural development : When peace comes there should be : no imposing of retaliatory tariffs and ) boycotts upon the vanquished. Such policy would prove both foolish and ' immoral.
 , Hope for the Future.
 As we close the year the question can hardly be avoided, what has , brought this holocaust of misery anG hate into the world? Nothing but g l soulless, ruthless autocracy, bent . upon trampling over the liberties ot the entire world simply to accomplish . it's own tyrannical selfish ends. The result is a veritable day of judgment
 against the worship of force and
 egoism which are the basic ideals ot , Prussianism. Fortunately these deals are so hostile to human nature and so incompatible with the mod