New-York tribune., 1919-06-09
Conditions Improve
For Development of
Bic Foreign Trade
manufacturers Association
Says Upward Turn Has
Been Reached in Our
Commercial Activity

Marked improvement in domestic
and foreign industrial and trade con-
at;ons occurred during the month of
Nav and this stabilization is daily
~a;ninp in strength. This is the view
sald by "Export American Industries" )"
o.sc;al organ of the National Associa-
.;on of Manufacturers, which has just
;ssued a summary of conditions affect
inc the development of the foreign
trade Of the United States as COM
n;lsd from data in the hands Of its
organization.
Removal of war restrictions, includ-
ing the abolition of blacklists, says this
nublication, is being strongly felt by
American exporters and streams of
inogiries are coming from all trade
centres OF the world for quotations on
every variety of raw and manufactured
materials. The movement of the banks
10 extend foreign loans without gov
eminent assurances and the develop
ment Of wider markets for long term
credit documents indicate that the up
ward turn in normal commercial activ-
ity has been reached.
The signing of the peace treaty will
do much toward allaying the remaining
uncertainty of the financial and trade
situation. 1t will mean in effect that
reconstruction is to begin in earnest.
The world of commerc is most eager
to put the war and it's havoc behind
,@ c,J e.I -,
rehabilitation. All of the nations ex-
pecting indemnities from Germany are
making extensive plans. France espe-
eially is absolutely counting on the
huge enemy indemnity to set her in
dustrial wheels in motion again, and
she expects the banks of the United
States to provide the necessary gold,
against the German promise to pay, to
undertake her rehabilitation.
Financing Foreign Trade
Financing foreign trade is a subject
that IS occupying large share of the
attention of American business at the
present time. Not only is it necessary
to assist the business man of America
in his foreign trade enterprises; it also
is very essential to fix a policy Of ex-
tending credit to the war stricken
countries of Europe. 1t is evident that
it no longer is the part of the govern
ment to make further advances for
this purpose. The war is over and ex-
tension OF credit by the government
being purely a war measure should no
longer be resorted to. Return to nor
rnn1 rnrLitt0r, L.
by leaving the question of foreign
finance in the hands Of the banks,
whose province it is to manage such
affairs. France, indeed, has expressed
her opinion that the financing for her
reconstruction needs should be han
died by private organization of Ameri-
can bankers who can deal directly with
the French financiers and manufacture
ers
More Foreign Trade Companies
Establishment Of foreign trading cor
porations in the United States still
goes on. Within the last few weeks
TWO more have been formed, one pri-
marlly for trading in South America,
the other for organizing and stimulat-
ing commerce in the Levant. The lat
ter company, sponsored by the Tobacco
froducts Corporation and including
many Of the largest merchandising
nrms In the country, plans a wide
spread organization which promises to
oe modern replica of the famous
hudson Bay Company, embracing not
oniy an extensive business organiza-
ti0r tra T-,,t
me OF its own and g caravan trade in
the Near East regions.
Recognition by the Allies of the Kol
enak government in Russia will un-
aonbtedly tend TO stabilize Russian af
.airs, political, industrial and financial.
Aassia Is IN desperate need of outside
assistance, and her work Ct reconstruct
1oh cannot be carried on withoI, for
e'gn aid. Official Allied recog..ition
VIII enable the Russian government to
borrow money from the Allies ana will
maze 1t possible for private business to
s"into Russia, backed by governmental
guaranty. She needs everything in the
nay Of manufactured products. To the
aasursi question as to how she is to
ray ior these products, the reply is
saas she will establish credits through
> me sale Of foodstuffs, fax, various
mineral products, abundant in Russia.
ana lumber, which was her principal
export in Dre-war times. Even a reason
so'y stable government will enable
@assian business men to contrive suf-
asieas commercial machinery to export
.sese raw materials. Potentially,
Aassia IS one Of the greatest producing
: Countries IN the world and the world
saonid try TO make it easy for her to
.sai'ze her possibilities Her political
saa commercial rehabilitation means
.as opening up Of great new market
si !orejga trade, and one of which
"e Sh.ted States should be quick to
axe advantage.
Great Britain Hard Hit
British labor difficulties have seri-
rig hampered manufacturers. and
s''e trade is not regaining its lost
S'saa az rapidly az il could wish.
-. az british factories need work badlv
,-e 80 are suffering from American com
.s1"en TO great extent. The recon-
aslson labor policies Of the govern
1ss and the extreme labor unrest
80 put up production costs to the
sa 'a' *Ssre IL is almost impossible TO
80. american competition. Just re-
S.s seTefai large iron and steel or
ls.. .fSm France and Belgium were
r...." England and placed in the
t,.ass states. asen in her colonial
49, Hfest Britain will be forced TO
hsr business methods IL she is
'nquef American competition.
"S fSem OF trade interest fs fha wan