Evening star., 1920-04-04

| The Efforts to make Europe self
sustaining mean aiding Europe to
| become competi-
Cultivating tors of the United
Foreign Trade. Sst. ~ ., u, ~. Va. vor,s ma
Progressive and farsighted business
leaders feel that it will not be an
all-sorry day when American COM
! merce finds the European market
| growing away from American goods
because European credit is strained.
At any rate. the United States must
| lose no time in organizing for the
trade of South America and the far
| east, and using the Pacific coast, as
well as the Atlantic for shipping these
! goods.
1t Is pretty well agreed that the
great future for American foreign
| trade is in South America and the
orient. Demands of those countries
and OF other productive markets
should be estimated in advance and a
consistent proportion of our produc-
ing capacity allotted to them. Direc-
tor Meyer points out that lit will not
suffice to starve the foreign demand
when trade at home is brisk and then
hope during periods of domestic dull
ness to food the overseas market with
American goods" This new trade
must be cherished and developed that
1t may prove a real support in future
years.
In visioning the world trade oppor-
tunity for America and the need Tor
}study of possibilities in all the world
markets, the War Finance Corpora
ton realizes that the present unlim-
I tied demand for American products.
regardless of price. is due to abnormal
and temporary conditions. As Europe
restores her disordered Industries new
and different demands will arise. and
| it is to be prepared to meet these that
the best study Of business leaders In
this country is now concentrated.
Important in the CALCULATION Is tne
| of the world with fertile soil and
cheap labor are now entering on a
period of rapid development. w niie
they will fill increasing needs TOT
foodstuffs and raw materials. tney
will at the same time increase the
market for finished products AS IL
Illustrating the Importance of this mat
fer let Ii be recalled that the eh'lhS
. balance of trade of the United states
! for the last sixty years Is measured
other countries endeavoring TO De
veIop a supply OF cotton within tneir
own colonial possessions.
Tn the organization OF our foreign
trade the eWebb-Pomerene export cor
porations act and
Capital for ane,ora.son. sne nuso act
Foreign Credits. constitute a nu-
cleus, Director Meyer Of the War FL
nance Corporation says. from which
with time and favoring circumstances
we may build" The Edge law2bank-
ling corporations. the nrst OF wn,ch
has Just been chartered. are OF epeciai
interest, because. Mr.. Meyer empna.
sizes. they are based on the souno
theory that capital for long-term ior-
eipn credits and investment must DO
obtained from the investment mar
kets. Such funds cannot with saIe,y
to the country be made avahaole
through ordinary bank credits. And
here is where you and ana All tne
readers of this paper are intsIeleu'
They must represent the surplus sSy
ings Of the people that are availaoIe
for foreign purposes. and It must be
distinctly understood that all capitai
eo employed represents at this time
canitai withdrawn from our domestic
needs. We must seek q proper pal
ance in the relation between tne e"o
urgent calls.
6efinition of a national foreign
trade policy. co-ordinated ana com
prehensive is now being urged upon
the political leaders as a Iramewo.x
and foundation for efficient success
and nrofitable permanency. Certain
fundamentals of that policy seem OBJ
vious. America has come to Know
that Il must have ships OF It's own
not to do all the shipping or the
world. but to have an industry capa-
Bile of maintaining an American mer-
chant marine. This entails marine IN :
surance and the establishment OF
chain Of fuel depots around the world
Need for an integrated American IN
dustry to the extent Of developing
and maintaining key industries with
in its own geographical boundaries
has also been pointed out to Congress
by the War Finance Corporation.
This. SO that never again WIN II near
that any foreign ambassador has ca
bled to his home government to en-
barge chemical materials for the pur-
pose OF throwing four million Ameri-
can workmen out Of employment. as
Bernstorff did in March. 1915.
WILL p. KENNEDY