South Bend news-times. (South Bend, Ind.) 1913-1938, 1922-05-07
GAIN PROSPERITY
BY FOREIGN TRADE,
SLOGAN OF FARLEY
Philadelphia Will be Guest TO
Great Convention of
Business Chiefs.
BY THADDEUS :. DAYTON.

III Il ~
Special 90 The News Times.
Philadelphia May 6--The eyes OF
the business world will be focused
on Philadelphia for three days.
when the industrial. commercial and
financial brains OF the nation viii
gather for the Ninth National For
eign Trade Convention The ses-
sions. which Will Doe held May 10Th.
18th and 12th. Will bring together
American manufacturers bankers.
exporters. and business men Of all
degrees in a campaign 90 stimulate
foreign trade to such an extent
thar the large surplus Of American
industrial and agricultural produc-
ton. estimated az from Is to 90
per cent. over domestic consumption,
Will be absorbed
Such an Absorb Uon. 70 IS emphs-
sized, will stimulate American indus
try 20 such an extent that once these
foreign markets are obtained and
held, permanent prosperity viii re-
place "stagnation periods" In the in
dustries Of this country. AID idle
ness, both OF plants and workers.
will be no more.
Definite policies. designed 10 slim
ulate foreign trade will be formulat-
ed. and details Of these policies and
how they are to be worked out Will
be clearly brought 20 thte attention
of the nations business men and
lawmakers.
Greater Prosperity Through Great
er Foreign Trade"
Is the slogan adopted for the Con-
vention. and the keynote Of the big
gathering viii he sounded by James
A Farrell president of the United
States Steel corp. in his address on
"A Foreign Trade Policy for Ameri-
cans"
Idle Factories 10 Get 10 Work.
The financing and expansion OF
foreign trade Will be the basic theme
OF the sessions one effective method
of putting this policy into effect viii
be pointed out under the topic. a
Foreign Loan Policy That Will En-
able Idle Factories TO Get 20 Work
One OF the leading bankers Of the
country. who is also Internationally
known has been assigned TO this
topic. The National Foreign Trade
Council. under whose auspices the
convention is held annually. has al
ready opened a nation wide cam
paign among bankers and invest ors
80 make it a condition Of foreign
loans that all Of a great part Of the
money shall be spent for American
products Leading members Of the
council point out that while hun
dredS of millions Of dollars have
been invested by Americans i'm these
foreign loans. American industry and
commerce have not benefited by
them Attention is called to the
long recognized practice Of British
and European bankers in ma king
such loans upon the spending Of the
proceeds for goods produced i'm the
leading countries.
Such a policy i'm the United States
would result. it is pointed out. i'm not
only swelling the volume of Amert-
can exports but 10 would also mean
that American Industrial plants now
idle or on part time would be run
at full capacity.
To Discuss Exchange.
Every American exporter and
business man is interested in the
deprecated currency taugle i'm Eu-
rope, and this viii be taken up
THE Merchant Marine, an Interna-
tional Problem will be discussed.
The Troubles Hour" of the con
vention viii be devoted TO a discus
sion on foreign credits.
Organization OF the Trade Adviser
Service which is free 10 the dele
gates. IS progressing rapidly and
about 100 highly qualified experts
actively engaged in foreign trade
will answer questions and solve in
dividual problems. In addition. a
large delegation Of trade experts
from the department of commerce
and industry viii be present. Ses-