New-York tribune. [volume] (New York [N.Y.]) 1866-1924, 1921-07-13
Secs Expansion of Exports
of Foods and Raw Mate
rails, but Anticipates Com
petition in Manufactures

BOSTON, July 12.-Kerbert Hoover,
Secretary of Commerce, tonight told
shoe and leather manufacturers,
wholesalers and retailers assembled
here for the National Shoe and
Leather Exposition and Style Show
that the corner of the depression has
been passed and that our foreign
trade outlook is becoming brighter.
Mr. Hoover dwelt at some length on
the Importance Of foreign trade as an
outlet for our increased production
and as q means of maintaining the
standard Of living of the American
workingman. He contendcd that our
exports of foodstuffs and raw ma
terals bid fair 20 outstrip the pre-
war volume, but said that in manu-
featured products we were facing in
creaslng competition from the
European countries.
The inability of Russia to resume
her place as a great food producing
country to supply the rest of Europe
tor some years to come, in Mr..
Hoover's opinion, will throw much of
the demand upon the United States,
the only great source of enlarged food
production. Europe must and will
NJ AW AVN iiS SdlU, great pro-
portion of food supplies that she for
merly drew from Russia. | see no
basic reason why we should not con-
tinue to export approximately the
same large volume of foodstuffs that
we have shipped abroad during the
| last twelve months. This item alone
at even present prices would be triple
our pre-war food exports, and would
represent the equal Of more than 90
per cent of our whole pre-war export
trade"
Referring to Germany. he said that
the bulk of the S750,000,0oO which
must come out of Germany annually
under the separations agreement will
consist chiefly of manufactured goods.
but beyond the reparations pay
ments," he added, "she must also sell
goods abroad in the amounts neces-
sary to buy her imports of food and
raw materials. Any calculation based
on the pre-war trade of Germany i'm
pines an enormous increase-perhaps
moro than doubling-of her pre-war
exports. In view Of the export duty
and other payments, she must produce
these goods for about one-half our
production cost in order to take our
markets. Such an increase in exports
must be manufactured goods, and I'M
til the world consumption grows these
must be marketed in displacement Of
the goods of other industrial nations.
We shall certainly feel the effects of
this flow of goods that must be pro-
duced If she is to make raparations
payments. On the other hand, Ger
many must take more raw materials
from US for this purpose. In any
event the crowding in the market Of
German exports will affect her i'm
mediate neighbors more than our
! selves, for 80 per cent of her market,
pre-war as we'll as in the future, must
lie in Europe ITSELF
Improvement in Europe, he con-
tinued, will lead to demand for our
great raw materials, such as cotton
and copper, but he cautioned against
expecting hasty revival, because
the outlets for Western European
manufacturers in Turkey and Russia
have been lost for long time to come,
and the Western European markets
themselves lack the great pre-war
consuming power. S"But," he said
the European manufacturers will find
after this depression is past that
the markets of the rest Of the world
are larger than before the war"
Speaking of remedies for the de-
preston, he said: "The government
can help recovery by removing the
obstructlons to commerce and in
dustry: But when all is done, the real
cure for all depressions is courage
and applied intelligence and the re-
turn to primary virtues of hard, con-
scientious toll and economy in living.
On every side there is evidence that
the vast majority of our whole nation
is making again an effort in those d.
rections, equaled only by that of 1918.
and the day some months ago when we
entered this effort we fundamentally
turned the corner of this depression.
While our recovery may be slower
than some expect, nothing can prevent
the prosperity of country where the
people have Embellishments u,ish -