Evening star. [volume] (Washington, D.C.) 1854-1972, 1919-10-26

eiaVeHng expenses OF represeHtAGsoS
| cost Of moving their household goods.
me small sum Of $500 Is asked 70
provide for shipment back to the
United States of the remains or Of
nc1als who die at their posts OF duty.
funds.
To promote foreign interest N
American goods through motion pic
lures Is branch effort that the bureau
mas Tor some time been desirous OF es-
tabiishing. A bill Is now before Con-
and in order that funds may De
available for this work an appro-
priation of S69, 900 is solicited.
For statutory salaries in Washing
ton $S16.190 is suggested where $2so..
$40 is available during the present
creases in salaries, because the joint
congressional commission on reclassf-
| ficatfon of salaries is considering the
bureau employees in their general
schedule. Director Kennedy says,
ofhcers and assistants at the low
scale of salaries now provided" He
points out that the assistant ch1efs
OF the bureau receive only $500 and
$4,000: while the division chiefs get
only $4,000 year.
4 4
Secretary Redneld, whose resigna-
ton is to take effect at the end of
this week, in
Secretary Redfield's what may be
Valedictory. vs,sa,etorx . ",s
dress. made before the American
ManNfa
urges the combination Of all the COM
mercial groups banks, manufac-
turers. merchants, farmers, etc.-into
one great organization with billion
dollars capital to finance foreign
trade. That Is his suggestion for
meeting the situation of a world eager
to buy. but unable to pay.
He points out that that great or
ganization could take the securities
In varied forms and amounts. of ma
tions, states, provinces, cities. utili-
ties, industries, railways and other
forms OF corporate activity. It could
SO distribute it's undertakings geo
graphically, politically and econom-
ically as to average the risk. Against
these securities. kept under constant
3
capital, it should issue its own de-
bentures at a commercial rate Of in
terest, and In small amounts and
large, so that the big and the little
investors might purchase them.
These it would be necessary to place
all over the United States, for great
sum would be needed-severa1 billions
depending on how well the United
States does the job. These in their
turn would be invested in domestic
enterprises.
without one or several such or
will sorry case" warns the
Secretary. We can do a retail foreign
trade. of course. amounting to a large
total, but nothing at all adequate to
our own needs for business or to the
worlds needs for progress. We can
worry along. he says. in relatively
little way and SO doing see others
gaining strength and filing again
the place in the world that the United
States has the power to take II we
but have the vision to see the op-
portunity and the wisdom to use It.
helpfully; not as one who takes all
the traffic will bear. not as one VINO
looks for cash before shipment. but
with something of the spirit OF the
gentleman adventures. who. In the
old days, did much to settle America,
doing it sanely. theughtfully, intetli-
gently. but not expecting to take all
the tricks in the early part OF the
game.
visionine the future of American
foreign trade and it's attendant spread
Of prosperity and hap
4 W.T.. piness, Secretar Red
field SAYS: IT can see
Good Will. world in which
America is loved because her COM
merce and industry finish the con-
structive work for which her sons
laid down their lives. I can see her
the great producer. the great lender.
the great provider OF the worlds
needs can see the fertflizing
strength Of wealth and labor pouring
out from hence to build UP the waste
and desolate places Of the world. But
to bring these things about we must
first have peace. and then we must
have organized action"
A concrete example Of the general
situation referred to by Secretary
Redfield is found in a report by Con-
sui Ralph c. Busser at Trieste. on
American investments and promotion
of trade in Adriatic countries. He
calls attention that with the close of
the war and the great demand for
cotton goods in the countries Of the
defunct Austrian empire the textile
mills are now making plans to resume
operations on a large scale. New
capital is made necessary by the de-
pletion Of cash capital during the
war, by tho great fall In the exchange
value of the Austrian crown. by the
present high price of raw cotton and
by the greatly increased cost of pro-
duction chiefly resulting from the
enormous increases in wages. the
shorter working day and diminished
relative efficiency Of labor.
4
AS domestic capital for investment
is not available. or only to very
limited extent. oppor-
Trv.s+,r.r4. tunities for foreign
=: capital are presented.
IN austria. with the establish
ment Of stable governments in the
countries formerly under Austrian
rule. this form of investment should
be of particular interest to American
capital. as the early revival of the
cotton textile industries of these
countries would restore an important
market for American cotton. The
participation of American capital in
such industries would greatly facili-
tate the financing Of raw cotton pur-
cnases. tnasmuch as the capital in
vested could remain in the United
IN no. h0