Polk County news. [volume] (Benton, Tenn.) 191?-1983, 1921-06-16
WHAT AILS OUR
FOREIGN TRADE
EUGENE MEYER, JR., DISCUSSES
CONDITIONS THAT AFFECT
BUSINESS ADVERSELY.
OUR OWN MARKET TOO SMALL
Exports of Manufactured Goods viii
More and More Become Dominant
Factor in Americas International
Trade, Says This Expert.
BY EDWARD B, CLARK,

Ry EDWARD 3. CLARK.
Washlngton.-AccOrding To Eug-k
Meyer, Jr., managing director of tn
war finance corporation, American
manufacturers are adversely affecte,
by foreign trade conditions al this tim
Chiefly in two ways. The first concerns
Tie goods which should find thei
way to foreign consumers, and tn,
O'her concerns the goods which wOul(
ma very much improved dome stit
lHarket Ii the buying power of our OWL
people were increased by an improved
foreign market for the great mass ol
our agricultural and mineral products
large part of our territory has
endured a prolonged financial strain
Mr. Meyer says, owing to the inability
to move goods and 10 liqudate loans
and the commercial congestion neces.
Sarily has been paralleled by a tinan-
cial congestion
The markets for our manufacturers
are radically and unfavorably affected
by The failure of our own market to
take, in usual volume, the goods which
we norInaliys import. This is particu-
larly true of imports from South Amer
lea and Asia. A better buying power
on the part of our own markets in GER
tain commodities would Mr. Meyer be-
lieveS, improve the market for our
manufactured gobds in the lands that
produce those commodities. 1T is
clear that the WI ole structure of our
domestic businessAis intimately affect
ed, directly and Indirectly, by our for
eisn trade, said he 0ur imports Of
FOOD products and raw materials In
fiuence our export markets, and our
exports of other food products,and raw
materials make, to great degree, our
domestic markets for manufactured
goods. Any sound constructive step
whole or in part, the present difficult
ties would be of tremendous help to
manufacturing interests as one great
of our economic activi-
ties.
Trend of Our Foreign Trade.
"Whether we look at the problem Of
our International trade from the point
of view of the immediate situation, or
from the point of view of develop
ments in the future, 1t seems clear that
the exports of American manufactured
goods under more normal conditions,
will more and more become the. domi-
nant factor In the position of our coun-
try in international trade. Our eX-
ports of foodstuffs have been large in
recent years, and are large now, but
prior to 1914 they showed tendency
toward a steady decline. Our trade
with foreign lands Is tending in the
ong run, TO develop more rapidly in
the direction of the expectation of |
goods And in proper
ion to the growth of our exports of |
products the question |
If our international finances will be-
.ome an increasingly important part
If our international economic relations
md policies.
"Europes financial organizations
or International trade were developed
or the purpose of financing manu-
actured exports. The marketing of
uw materials and agricultural prod
tets Is much simpler business than
he marketing of manufactured goods.
n short, foreign trade Is peculiarly
,roblem for the future that calls for
he best thought of manufacturers and
nnkers."
Mr.. Meyer believes that the devel-
rment of personnel and organization
or future foreign trade and finance
viii be gradual growth.
Pressure for Disarmament.
The administration is feeling
m increasing pressure in favor of
he United States taking the lead in
movement among the major
ations for reduction in armaments.
was this pressure that influenced
he President to withdraw his oppos-
ion to the Borah amendment to the
luvy appropriation bill, an amend
lent which suggests that the Pres-
ent invite Great Britain and japan
b Ioin this government In Il confer
nee looking TO greater reduction In
In Withdrawing It's opposition to
~ Borah plan the administration was
lrrful TO let II be known that II was
nt oblglng itself TO carry out the
lggesti0n of the Borah amendment
case the house should accept II and I
should become part of the navy I
bill as finally passed, Q
ongress understands that the Presi- I