Evening public ledger. [volume] (Philadelphia [Pa.]) 1914-1942, 1922-08-17
CHARLES LYON CHANDLER
On Philadelphia Foreign Banking and
Trade

PHILADELPHIA is now as well equipped
as any city in the country, to handle the
foreign trade which rightfully belongs to
the city, In its three essential elements, the
banking, shipping and merchandise, says
Charles Lyon Chandler manager OF the
foreign trade department of the Corn EA-
change National Bank.
"Philadephia, said Mr.. Chandler. "is
now the second port Of the United States.
But an equally important thing. is that the
city, In addition to its port facilities, is
the most important single manufacturing
place in the country. not merely as regards
its diversity of production. but also what
is more unusual. the age and stability of the
firms in the business Of making articles
which are used all over the world. There
are in Philadelphia a large number Of firms
which have been In business for anywhere
from fifty to 100 years. and the quality OF
their goods has been maintained all through
that period.
Necessity for Foreign Outlet
This fact has given a certain stability
10 the products Of Philadelphia manufac
turers especially those engaged In the ex-
port trade, which no other city Of the
country possesses to so great degree.
"A good foreign trade is one Of the great
est safety valves which any country can
possibly have. In the first place. it pro-
vides an outlet for manufacturers. which
has often proved TO be Il very present help
in time Of trouble. At the present time
il is estimated that 20 per cent or one
United States find their way abroad in one
form or another. and in some lines of busi-
ness the percentage is even higher.
but foreign trade does not mean simply
exporting: it means importing as well.
Philadelphia has always been great i'm
Philadelphia was importing coffee from the
Dutch East Indies. There Is not a single
automobile in Philadelphia which does not
contain rubber which has in some cases
been brought as far as 10000 miles to the
city. Foreign trade, in its full meaning is,
therefore. vital to the welfare of any great
manufacturing city from two angles.
Gives Work to Many
Not merely does the shipping of the
Port of Philadelphia bring every year from
$50 900 900 to $50 900 900 worth OF goods
into the city. but our importing and ex-
porting gives employment to very large
number of persons here and elsewhere in
the country.
''For instance, Of the $S7 900 900 worth
of goat skins imported into the United
States last year, 1t is estimated that $GO,-
O00 900 worth came In through this port
Just imagine to how many persons engaged
in the leather and tanning Industries this
gave employment; and this takes no cogn-
Zance of the very large amount Of other
hides and skins which were imported
"Philadelphia Is today the eighth port in
the world and the third on the American
continent. We are becoming more and more
u great international trading center espe-
cially on account Of our admirable dock
harbor and railroad facilities. This city
Is today the gateway to one of the greatest
markets, both domestic and foreign, In the
United States.
Banking for Foreign Trade
1.-THE Philadelphia banks are most ex.
,tl.,