Richmond times-dispatch. [volume] (Richmond, Va.) 1914-current, 1921-01-02
FIGHT FOR WORLD TRADE
ON U. S. 1921 PROGRAM
Concerted Efforts AtiIi BE Mn,io by
business Men TO Increase

ny nonsMT ;. nENDER.

Il.
| NEW YORK, Jan. 1.-The new ycaI
| Will be marked by a concerted eirori
Of American business interests TO re-
tain or regain It's hold on the mar
kcts Of the world.
II is The opinion Of the foremost
| economists and bankers that the
Country's future progress now de.
penis largely on how nrm.y and per-
manently she establishes herself in
world trade TO this end. the Initial
Sep VIII he taken soon, TO concern
business. financial aud labor inter.
e*ts in the operations of the proposed
SloOO00.U0O export financing corpora.
ton.
There is difference Of opinion n,
70 now long 1T VIII take the United
states to begin It's offensive I'm inter.
| htt !nna! markets The need OF
prompt action. however. is illustrated
by bankers with the following Stats.
Great Br!taln's exports for the nrs,
OF III" corresponding period OF 1918.
French exports for the first ten
months Of 1929 were two and one.
n na.r tines what they, were for tn.
Eciglual's EXPORT trade 70, the frs,
nine months Of 1920 was six time,
'ha, OF IN" same period in 1919
italNs export trade was ncariy
doubled
Trndc nnlnncc Falls or.
,,n, ~ mas exports have increased
La spite OF the large volume o,
american exports during in2O. ,ht
MUTTON 10 our baiancc Of trade show,
IN. 'n"h ini!ing on "a compared with
!ois. IMPORTS Rising from a total les.
man one-hai: Of ;hat OF our export,
In 1919 10 almost two-th!rds OF Inc
EXPORT total In 1920.
The Guaranty Trust conn,n,
makes the following New Years com.
incni ON n. subject OF foreign trad,
Ent"ring tho new year in a SCUM.
Ger financial. industrial and poiitic;y
conuttlpn ,h:n an. Ctbu- It,,un, - /. -,
nation In the world the United state,
faces the combined duty and oppor.
,,, 81 "stahlishinc on a firm, per
"orld trade witch her prosnerI, IN
'ahts. foreisn markets continual
10 =" ncmnnnd enormous. quantities o.E
foreign demand. through foreign I'M
N.St-Hcnt anu the granting OF agrcc.6
an" credit terms. is Americas outH
sltrulhg economic problem today"
SUMMING up rcHsOns which tent q
lnsi'ir. hope and confidence for m ~
.ntne. the guaranty concludes th;&
10" OUTLOOK ,3r greatly clcarc@
situation ia 1921 seems promising" &
No economist or financial authSr;t{
pf"S,nn"S. however. to estimate ho1f
; ,""i 'ori"tSn ana domestic trade wi
,ien$. Robert Dollar. president oil ,ii =
robert Dollar international ShlpninHl
aud Lumber Company. is Inclined ~
Ssl%yr mat business depression ma
ii"ilnr Counsel. i.mrincss Men.
Discussing business Mr. Dolla
made tho following observations: f.
The great boom in export ,radS&
during the war mad. certain that a.
great slump would come. Those wine
har" KEPT in mind conditions durinf
IN" last Hey years are aware that ann
abnormal rise in prices IN always fol@t
loved by corresponding fan. IN
such people got ready FOR tho ina
cNiiahl". Those who didn't get rcadHA
got hurt. Unfortunately for our forS{
"iGn trade. about the same conditiontl
prevail nj! over tho world. 30 tina, III
every country there is "A holding uIS
OF purchases and the expecting lowcIH
prices in all commodities. Hence stQ
many ships laid up and 50 MANN
crossing the oceans with only partI
carGoes--rnany with no carEoes all
a,l--the arrivals In New York shoES
that - per cent are without cargoK1
ms 10 the outlook. | think we hav
not reached bottom In all lines ycu
and We must get there before thinEd
got better. How long the dcpressiot
VIII last /, is inn 'sSihlc to say. Onth
can only judge by the experience 81
former periods OF depression whic
GENERALLY lasted from two 10 thre
Yeas. know that many take an Ell
tirely different View and think In g.
few months we Will have good t!ma&1
again"