The sun. [volume] (New York [N.Y.]) 1916-1920, 1919-02-17
SHIPPING PROBLEM
Is RATES AND DATES
National City Bank Official
Gives Views on Trade En-
tension Of U. S.

| Charles E. Mitchell. president OF tie
National City Company OF this city. who
is touring the United States in the inter-
est Of his company, has been paying
much attention to South American trade
| in his addresses 10 business men In the
various financial centres In which he has
stopped. The question OF payments and
shipments loom up large in importance
he explained IN a talk to New Orleans
bankers recently in the Crescent City.
The points were driven home also when
speaking on trade extension before dele
cations on the Pacific coast
Mr.. Mitchell enlarged upon a system
Iof charter.ng the United states Shipping
Boards huge fleet OF new merchant YES
sells to private companies at low rates.
with emphasis on definite sailing dates.
fixed traffic routes and rates permitting
competition with ships Of other nations.
| what American manufacturers and
hippers want to know about" says Mr..
Mitchell. lis rates and dates They will
not extend themselves TO sell goods
Soroad until they know they can deliver
hem on time and can have their mer-
lchandisc Carried at a rate which will put
them on an equality with foreign conf
petitors.
1
| mite shipping routes which the United
States built shops should follow. Then
| 1t should charter its feet to various
private companies. not charging too
much for them either. for the shipper
who Is to develop the American export
trade has many other handicaps and ex-
,penses to contend with. Also the Ameri-
can people. seemingly. will not endure
direct ship subsidy, 50 this other metho
must be taken to supply them with what
will be in effect the same thing.
Great shipping points in the United
States must go hand in hand to bring
about this or another solution of the
| export shipping problem which will
serve the same ends"
As to the question of payment by
foreign countries for articles bought in
the United States Mr.. Mitchell is of the
| belief that goods can be sold abroad on
credit and that payment must be taken
In the form of foreign securities
Through this method of accepting de.
ferred payment for exports. with in
terest meanwhile, the much talked OF
American export boom can become a
possibility.
Foreign nations cannot pay us In
cash. for already we have an over
whelmring percentage OF the worlds
gold.' Mr.. Mitchell contends. I'VE dc
not want them to pay us in goods, for
We want to preserve the big expor,
balance in our favor which has been SO
marked for the last few years. In fact
the very thing We are talking about
is increasing the export business. Thii
leaves us only one OF the three possible
methods OF payment. We must absorb
foreign securities in the United States.
An "exacting yardstick' will be ap.
piled to the foreign securities offered for
sale in the United States, one ever
more strict than the test applied &c
American securities. says Mr.. Mitchell.
After pointing out that the United
States Government has lent more thar
$4,000, 900, 900 abroad, that foreign
countries are negotiating to borrow
$500. 100000 more and that private
capitalists probably have lent further
billion and a half abroad, Mr.. Mitchell
! gives It as his opinion that the day 1.
J not far distant when American in
vestors would be called upon to buy
heavily Of foreign bonds and notes II,
adds:
They are not being offered yet, bu
: soon they will be-"
Mr.. Mitchell on his trip Is visitins
cities where his company has offices
about forty of which are In importan
centres of the United States.