The New York herald., 1921-05-18
HOOVER wins TRADE
FUND OF $250,OOO
House Committee Convinced
by Figures Showing BIC
Drop in Exports.
HALVED in SIX MONTHS
Secretary Plans Develop
ment With Experts and
More Trade Attaches.
GIVES A WARNING ON OIL
SAYS America Should Get a
Retter FoothoId on Outside
Petroleum Deposits.
HALVED IN SIX MONTHS
GIVES A WARNING ON OIL
Special Despatch TO THE AEw YoSK HERALD
New York Herald Bureau.
Washington. ID. C., Nav L..

New York Herald Bureau.
Washington, ID. G., May Ia
American export trade has dropped
80 per cent. in the last six months,
a rate considerably greater than that
of Great Britain, Secretary Hoover in
formed the House Appropriations
Committee to-day.
As a result, he said. it was i'm
perative for Congress to appropriate
$4,000 to enable the Government 10
make a vigorous campaign of trade
development. which amount was ap-
proved by the House Appropriations
Committee in deficiency bill reported
to-day. MIR. Hoover disclosed his plan
for q much greater development Of
foreign trade through staff of
trained experts and extension Of the
present commercial attache service.
The Secretary said of oil;
Our own oil resources are estimated
to hold present production somewhere
from eighteen to twenty years he said.
I'VE are now producing 60 per cent. Of
the worlds oil and Ne have an esti-
mated proportion of the worlds oil bear
Ing territory OF from % to 80 per cent,
We arc not getting our foothoid in for
eign oil fields. The technical bureaus
Of the Government have developed the
technical material with respect TO world
oil resources, but the information as to
what commercial action is necessary is
entirely unorganized."
Mr.. Hoover revealed that the Ameri-
can export trade dropped about Is per
cent. more than that OF Great Britain
in the first three months OF this year
The American decrease for March COM
pared with the previous year was 53.2
per cent, while that Of Great Britain
With half the producing capacity was
35s per cent.
1--WE have dropped from as high as
s700.00o.o0o exports in a single month
10 less than $500. 900 900" he said. "Of
course n certain amount OF this was
inevitable. One difficulty now is that
:. large amount of Information comes in
and we are not equipped to give Il ade-
quate preparation and distribution, An-
other is that Information is collected
abroad by men without expert direc-
ten from home, having in view the par.
tlcular necessities OF our different indus
tries.
Another fresh factor in foreign COM
nlerce that requires great study Is a
new type OF foreign combination-corl-
hinations for imports. The whole buy
ing of hides and leather for the United
Kingdom is virtually now in one organi-
zation. We have similar combinations
in coal. food, &c, in many directions.
The result Is more or less to dictate
prices within the United States. We
must have q general staff OF specialists
10 work out In cooperation with our own
industries policies and methods By which
We can meet those forces.
we are dependent 10 a large degree
on foreign wholesalers. our foreign dis
tribution system Is a sort of an army
without any soldiers On the front. but
with a good deal Of suroly trains. With
out native Americans under the Ameri-
can flag doing our distribution abroad
we cannot hold our own. The only point
at which the Government can enter on
is through process OF information and
tnstructins to our people to take such
action