Evening star., 1921-03-12
Urges j. s. FIGHT
FOR WORLD TRADE
E. l. Stock Says Financing
of Concerns Is Better Than
Sending Old World Money.

american business men must be
mobilized to fight for international
trade the same as the young men of
the country were mobilized to pro-
tect our honor In war" said +. l..
Stock. speaking last night before the
Merchants and Manufacturers Asso-
ciation on the value of Foreign Trade
Financing Corporation. which has
Just been organized to stimulate for
eign trade.
'Tt Is far better to support prac-
tical organization of this kind" con-
tinued Mr.. Stock. "and give employ
ment to the thousands of people in
Europe, than to continue sending
them money on which to TO- exist MS s.oo,
and H. H. Mckee. the association
voted unanimously to support the
movement and to urge It's members
to buy stock in the organization II
Is understood that President Philip
King will Immediately dispatch let
ters to all members of the associa-
ton.
Must Keep Pace With Record.
Pointing out that America must
continue to keep pace with her war
record, Mr.. Stock said:
"Tf America is to maintain the en-
viable place she gained in interna-
tional commerce during the war we
must all contribute our mite 10
achieve that end. One way to gam
that goal is to support this new or
Ganization. which was formed Tor the
purpose of enabling American con.
Germs to sell goods to the people OF
other countries on 1ong-term creoit'
and thus keep our factories and mines
and furnaces and railroads and ships
busy and our wage-earners employed.
"While we are debating what we
shall do British bankers, without
half our resources, are stepping IN
and extending credits right and left.
helping British manufacturers to sell
their goods on longtime credits.
Meanwhile we have an upemployme
problem that is growing more serious
every day.
OverproductiOn in United States.
Nov, the United States has reached
since the armistice state OF over
production, or, as some may put it,
state of underconsumption, reflected
throughout the country by shutoo"ns
of mills, unemployment and the COM
plants of agrlculturists that they are
unable to get a fair price for their
products. During the same period
there has been built up around the
United States a great Invisible wall
which prevents this country from
shipping it's surplusage abroad. This
Invisible wall Is pullt ol uhSQuoi ca
change, a trade balance so over
whelmingly in favor of the United
States as to make further extensions
impossible. and. in some countries,
impoverishment following the war.
international trade at the moment
needs financing. not by the banks.
but by the people of America. who are
most benefited in the end, and they
must come eventually to the reaiiza-
tion. even though they may not be
directly interested in export trade.
that IL is their problem just as much
ae the problem of those who actually
do the shipping.
TT may be that at the moment
great many of the articles which have
been produced in America for export
will find no markets, and that there
will be a depression pending the re-
location of labor in other industries
where the domestic consumption Is |
higher There is plenty of work for
every able-bodied man and woman" F,