The Powder River County examiner and the Broadus independent. [volume] (Broadus, Mont.) 1919-1935, 1922-05-12
Business AND Professional Directory
FOREIGN TRADE CONVENTION AT
PHILADELPHIA-GR PROS.
PERlTY THROUGH GREATER FOR.
EIGN TRADE.
BY THADDEUs s. DAYTON.

By VEADDEUS 3. DAYTON.
The eyes Of the business world will
be focused on Philadelphia for three
days. when the industrial. commercial
and financial brains Of the nation will
gather for the ninth national foreign
trade convention. The sessios. which
will be held May 10th, 18th and 18th.
win bring together American manu-
facturers, bankers, exporters, and bus
mess men Of all degrees in a cam
paign to stimulate foreign trade tc
such an extent that the large surplus
Of American industrial and agricultu-
raj production, estimated at from Is
to 20 per cent. over domestic consump-
ton, will be absorbed.
Such an absorption it Is emphasized
will stimplate American industry to
such an extent that once these foreign
markets are obtained and held, per-
manent prosperity will replace "stag-
nation periods" in the industries Of
this country, and idlen.ss, both of
plants and workers, will be nc more.
Definite policies, designed to stinu-
late foreign trade will be formulated,
and details Of these policies and how
they are to be worked out will be
learly brought to the attention Of
the nations business men and law
makers.
"Greater Prosperity Through Great
err Foreign Trade" is the slogan adopt
ed for the convention. and the key
note Of the big gathering will be
sounded by James A. Farrell, president
Of the United States Steel Corporation,
in his address on "a Foreign Trade
Policy for Americans"
The financing and expansion CT for
eign trade will be the basic theme Of
the sessions. One effective method Of
putting this policy into effect will be
pointed out under the topic. "a For
eign Loan Policy That Will Enable
Idle Factories to Get to Work" One
Of the leading bankers of the coun-
try. who is also internationally known,
has been assigned to this topic. The
National Foreign Trade Council, UNI
der whose auspices the convention is
held annually, has already opened a
nationwide campaign among bankers
and investors to make 1t condition
Of foreign loans that all or great
part of the money shall be spent for
American products. Leading members
Of the Council point out that while
hundreds of millions Of dollars have
been invested by Americans in these
foreign loans. American industry and
commerce have net benefited by them
Attention is called to the long recog-
nized practice of British and European
bankers in making such loans condi-
tional upon the spending of the pro-
ceeds fer goods produced in the lend
ing countries
Such policy in the United States
4 - :,
only swelling the valume of American
exports but it would also mean that
American industrial plants now idle
or en- part time would be run at full
capacity.
Every Amer'c can exporter and bust
| ness man is Interested in the depre-
| ciated currency tanSle in Europe. and
this will be taken up. "The Merchant
Marine. an International Problem"
will be discussed.
The "Troub1es Hour of the conven-
tion will be devoted to a discussion
en- foreign credits.
ORGANIZATION Of the Trade Adviser
Service which is free to the delegates
is progressing rapidly. and about 100
highly qualified experts actively en-
gagged in foreign trade will answer
questions and solve Individual prob
lens. In addition, large delegation
of trade experts from the department
CT commerce and industry will be pres
emit. Sessiosn Of the convention will
be held in the Academy of Music. and
the Trade Adviser Service will be To-
Gated nearby in the Bellevue Stratford
hotel. the convention headquarters.
Emphatic approval of the conven-
items objective is announced by W.
r. G. Harding. governor Of the Federal
Reserve Board. who in his statement
that the convention will be OF "great
benefit to American agriculture. COM
merce and industry" announces the
removal Of certain limitations placed
upon credit acceptances by American
banks. thus simplifying the work OF
these institutions in financing trade
| with foreign countries.