The Bridgeport times and evening farmer., 1919-07-15

New ! ork, July 15.-Only the rati- fication of the peace treaty now re-
 mains before the world is definitely launched upon its unhampered course
 of rehabilitation. says Export Ameri-
 can Industries, the official interna-
 tional organ of the National Associa-
 ton of Manufacturers, in a review of
 peace-time problems. Many financiers
 and manufacturers are so certain of this ratification that they are losing no time in putting into execution the
 plans that have been maturing dur ing the seven months that have elapsed between the armistice and the actual acceptance of the peace terms by Germany.
 Since last November the world has made rapid strides toward rehabitila- ton, and it is apparent that in this work of rehabilitation the United States is to play a large part. The foreign trade of this nation, which gained so large development through the war, is to have a permanent place in the worlds commerce. Today the United States is supplying half of the manufactured articles now being con- stunned by the nations of the world, and this market will continue to be ours almost entirely for several years to come. Practically the whole non manufacturing area of the world is now dependent upon the United States for the larger part of its goods.
 The export and import figures for the fiscal year ending June 30 show a total of ten billion dollars, of which seven billion dollars were in export. These figures stand as a new record in our foreign commerce.
 Export Problem One of Finance.
 The problem of the American ex- porter today is not one of demand, but one of finance. The necessity for generous credits is requiring a, capi- tai greater than that available for the individual exporter. The activity of Congress and the great banking and financial groups of this country Is an encouraG Ging commentary on the way in which the Government, finance and commerce are cooperating to meet this problem. Bankers representing the most powerful interest in the United States are now arranging a Co., ordinated plan by which the resources of the banks and industrial establish ments will be pooled to carry the burden of financing our exports. This vii! relieve the individual exporter and will develop in this country a form of security which has, until now, been practically unknown here. A of education such as was carried on during the Liberty Loans will probably be undertaken to popu- larize such securities and will doubt less result in an additional thrift which will add domesic as we'll as for eign commerce.
 Removal of Gold Ban Effective.
 The removal of the ban on gold eN- port has been immediately felt in the increased value of a dollar. The total gold export will probably not exceed s20p,oOO. but the physical and the effect of free gold move ment will be to keep the dollar at par or premium. In the Dutch East Indies. where the dollar had fallen to .767, it is rapidly advancing to par, and in Ecuador, where 1t was being quoted at .s46 gold shipments are expected to advance it rapidly to par. In Argentine the dollar is all ready at par, having advanced two and a half points since the ban was lifted.
 U. g. Worlds Greatest Shipper.
 The stupendols shipping program shows no signs of falling off. On July 8 the Bulletin of the United States Navy showed th&t in all parts of the world there were 12,269 vessels oper- lting. Of this number. 33.7 per cent. or 414O were under the American flag. This percentage exceeds that of all other nations. Great Britain is sec ond with 335 of the worlds ton mage. Other nations have from four to six tenths of one percent of the balance. Of the total number of yes sells under the American flag, 1,94Z are being Independently operated for commerce. and the rest are engaged under the flag of the Shipping Board, i the transport service and for the navy. The shipping board will release much of its tonnage for general commerce