Evening star., 1919-12-21

The other day Chairman Platt Of
the House committee on banking and
currency said that unless way can
be found of extending long-term cred
its in our foreign trade it will soon
be impossible to do export business,
and that this condition will be
reflected in the general business
of this country. both as regards the
producers and those dependent upon
the manufacturing industry. Domestic
as well as foreign commerce is facing
this problem.
This was emphasized also in the first
annual report Of Philip B. Kennedy.
chief Of the United
Smaller Imports States bureau OF
foreign and do
Than Exports. nestle commerce.
the demand for American goods
abroad. Europe is still experiencing
an acute shortage Of food. raw mate
rials- and all kinds of manufactured
goods. Lacking imports to balance our
exports, the pertinent question is the
extent to which we can safely take
future promises to pay. Whatever
ones views about the proper nature
of the peace settlement, all may read.
lily see and agree that foreign creols
awaiting q more stabilizing condition.
Unless certain reasonably adequate
credits are soon made to foreign coun-
tries, our exports may be expected 70
fall or on account of deprecated ior-
eign exchange"
The passage by both houses Of Con-
gress Of the Edge bill to finance Tor
eign trade is a big help, but the
Edge bill will not work miracles,
Representative Platt warns, HOW
ever, the far-seeing business leaders,
the government officials In closest
touch with foreign markets and their
needs and the members OF Congress
particularly charged with framing
business legislation are all giving
close and concentrated ana co-orui-
mated study to this problem OF sucn
vital concern to the business future
Of this country at a time when COM
merce for the United States is open
ing up on a broader scale than tne
most optimistic manufacturers ana
exporters had ever dreamed OF.
Study Of particular markets SHOWS
an eagerness for American goods, out
the necessity for credits.
rJa.s France - The American
consul at Lyons says:
FIance. with the return OF nor
NAL conditions American TRANSACTIONS
should be more important than ever
before, as Lyons dealers are endea'ot-
ing to obtain a larger share OF ousi-
ness than they have heretofore en-
joyed." From the Grenoble district
also comes the report: Interest In
American-made goods of every de-
scription increases. Importers are
eager to form business relations with
American manufacturers. American
advertising matter in French Will be
of particular value at tins .s time. .cest oae
sity of giving the weights. dimension
and capacities in terms of the metric
system" Again from the Limoges
district, Vice Consul Williams ADVISES:
There is quito a demand in this con.
sulate for, agencies by persons OF
good standing, who would give bank
ing and other guarantees for any mer-
chandise which might be intrusted to
them, but who do not care to buy out
right. A number of dealers In various
kinds Of merchandise manifest will
ingness to receive and examine Ameri-
can propositions, with view to i'm
portations, If credit terms are ex-
tended"
+ +
It is worth while taking a closer
view at the actual trade opportunities
in this same district
The Field At as illustrative of the
business that awaits
AmVxeS' Uncle Sam when a
credit system has been worked out.
<n1
sold there by retailers there have
been practically no direct importa-
tions from the United States into the
Limoges district in any line of busi-
ness. The retailers receive their sup
plies from importing firms or agencies
located in Paris or in other large COM
mercial centers. The Limoges con-
sular district comprises large num-
ture and contains a large section Of
the agricultural area Of France, with
consequent need and use Of agricul-
tura1 machinery and implements.
Woodworking machinery. vegetable
oils, canned foods and many other
would be an opening for American
goods II they could Be obtained un-
der conditions conforming to the trade
methods practiced in the district.
namely oolrVery on snort notice and
extension Of credit. These methods
accounted for Germanys success in
the French market before the war,
and they are now being followed more
or less by the British.
-
Spain is dependent upon foreign
countries for nearly all Of its railway
equipment. mining ma.
4 Market in chinery and the greater
en,;, part Of its manufactured
SP""' goods. From the Al
meira district Consul Smith reports
that, considering the quality Of tex
tile and knitted goods, shoes, leather
goods. electrical fixtures. hardware
and household furnishings now being
sold there, as compared to the goods
manufactured and sold in the United
States. 1t would seem that, with an
emctent selling organization in Spain,
manufacturers in the United States
should be able to establish quite an
extensive market for their products.
To do SO successfully would require
the cooperative efforts Of a number
OF American firms under the Webb
Pomerene act, who would establish
agencies in tho commercial centers Of
Spain, where a complete list Of goods,
including spare parts Of machinery,
etc. would be kept in stock. One
OF the advantages of American manu-
factured products is Standardization.
which facilitates the making of
prompt repairs In case Of a break
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