Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1919-01-01
WORLD TRADE
GROWS GREATLY
DURNGC CENTURY
81, ooo,o 900, 600 in 1918, it Has
Reached a Total Of $50,
000,000,000 in 1918.

New York. Jan. The chief causes
of the growth OF international com.
merge, from less than $4,000, O0O, 900
in 1851 to approximately 100000
000,0 900 in 1918, Is discussed in a state
ment made public by the National.
City Bank Of New York. Growth in.
ton. and "a division Of labor among
.gr61pssofsm men the world over were,
according to- the bank, the chief
causes ofssthis expansion. 4
I'VE q scarcely realize" the
statement said. that man. who had
only been able to build up a world
trade of $4,000, 100000 a year in all
the centuries of his life upon the
globe. should have suddenly in one
century, increased it to $50, 900, 00o,-
CINE builder. came in isis to New
York. then holding only 10000 peo-
pie, filled, with the idea that he could
vessel across the Atlantic, and per-
suaded Francis FickelN to build the
ship for him, ey>~jointly laid one
section Of the foundation for the tire.
mendous growth of world commerce.
The others are the railroads. the tele-
phones, and the financial and banking
systems.
- IL was JUDI 4VV yCdI0 d6O lIl01 lilC
little steamer, the Savannah. built in
New York for the transatlantic exper-
iment, passed out of New York to Sa-
vapnah, Ga, which port it left a few
months later on its successful ven
ture across the ocean. to which the
steamship was, up to that timet .un-
known: BY 1850 world international
by 1900 it was $4,000 900, 900; 1918.
sac, 200, 600. 900, and in the year just
ending aggregated probably $4,000
100000 when measured in the inflated
currency of the present period. Mean
time world railways had grown to
725.000 miles. 1t is difficult to realize
that only 100 years ago the world had
a mile of railway or a foot OF tele-
graph or ocean cable. while. as for
telephones. wireless telegraphy, or fly
ing machines, they are the product OF
the present generation" .
The bank pointed out that, during
1918 to 1918, the worlds steamships
grew to about 3O,000,0 900 net tons
with a value at the beginning of the
late war Of about $4,000 O0. 900
while the worlds railroads had grown
to 725,000 miles, with a value prob
ably Of $4,000. 900. 900.
With the rapid increase in gold
pJOuuCLlOI vi Liz last QudTlGI ,COIjs
tury," the statement continued. 1.-The
money of the world has grown from
10000 600, 900 in 1896 to about SIS,
900, 100000 at the beginning of the
"Then. with the necessity for read,
currency which faced each of the ma.
tions at war, came ar enormous inf1a.
tlon' tS and the worlds =, money ansr ( in nnh
about $685. 900. 100000. The banking
power Of the world. which was est
mated by accepted authorities at less
than $4,000. 600, 900 in 1870 and s15,'
900. 900, 900 in 1890. was probabl,
$65, 900, 000. 900 in 1914, and has, Of
course, enormously increased durins
an extremely important factor II
world trade and rapidly Increasing II
importance. \
1.-THE principal cause Of these ire
mendous international exchange!
which have grown with such unex'
ampled rapidly within the last cen
fury. can be stated in q. single and yer,
assignment to certain areas and theil
peoples Of the production of certain
articles for Interchange in worle
commerce. 1t was found that certain
areas could produce wheat more sue
cessfully than certain other areas
and this was true also with referenc,
to the other great requirements O
man. corn, meats, sugar. tea, coffee
cotton, wool. silk, iron. copper. tin
lumber, India ruber, and manufac
lures, and that the respective area,
especially suited to the production O.
these individual articles could produce
them much more readily and cheapl,
than could other countries requiring
them, especially if, by the develop
lnent Of cheap and plentiful transpor'
tation facilities, these articles coult
production. to the place where re
quired. Cost Of, transportation ha.
been SO reduced that a British work
man could in 1910 pay with one day!
labor the cost of transporting a year!
supply of bread and meat from, tn.
Mississippi valley to his own door
and the application of power to farm
ing had made it possible in 1910 tt
produce a bushel of wheat with ter
minutes of human labor against three
hours of labor required to produce
4 ,,-l - 800