Grand Forks herald. [volume] (Grand Forks, N.D.) 1916-1955, 1922-11-28

able to manage the business ventures
themselves, but. engage nag
generally men who have been. c~iosely
associated with them in politics.
General Increase In Prosperity. F..
This Indicates that e new era has
come in China and that 1t is turning
from the ancient pastoral nation. III
was into an industrial hive which Gl1l
produce ever increasing wealth, the
substance Of trade. While this part
Of Mr.. Arnold's report gives only one
side Of the picture, the increase in
prosperity generally also is reported.
He says:
LESS than 40 years Ago the brass
1 copper cent, was tbs coln 81 pp"i tSa
realm. Today, In Eastern China
'that Is. in the trade centers in contact
with the outside. world-the brass
is almost a curio,>so Seldom is It
seen. A coin 10 times It's value has
replaced the cash, indicating the in
creasing power Of the masses"
Purchasing power among the ti1ass-
eA Is what constitutes d market and
MT. Arnold's report shows that the
vast nation Of 460.OO0,O 900 Chihamen
now have that, He also points out
that the last qiiartey Of a century has
SN''S "SSA Gil o"ethcIll1lS. Inc mex XO
years In his opinion, will see amuch
greater increase in prosperity ana d
multiplication Of the purchasing pow
fer OF the people. At this rate; In q
short time, China may become as great
haps greataf. -.
The introduction of American ana
British capital and skill in the Orient
ias brought about the establishment
OF some substantial manufacturing
c3hcerns, but for many years Ch1nafs
chief Wealth must be in raw materials
and natural resources which ara NJ
most litnitles. This means that while
she will have wealth ft/tofiifnend 4
great variety Of goods, she viii not
have native skill to produces them,
Such q Situation Is precisely the prob
yer sort Of an opportunity for the
American exporter. America GLADLY
will exchange he" skillfully mahufac-
tured goods and the United states vii;
have a>great new customer witch per-
maps Will be OF more imp ottance to us
than any country Of Europe Or even
all, Europe put together.
Every aspect OF the situation is be-
ing studied by government trade ex-
pefts and this winter it is expected
some important REPORTS will BE sub
mitted and possibly legislation viii be
offered looking Is facilitating trade,
During the last session of eUhEresa one
step was made in the enactment 81 the
Dyer China trade art. This providss
for the American Incorporation Of
companies doing business in China.
Heretofore, there was no way open for
Americahss doing business there, to
obtain American charters and MANY
fof them We're .%coinpelled TO take out
British charters.
American traders in China cettainTexs
exemptions from taxation which. viii
ket. s.5$es8
It will be- remembered that in the
early days of our foreign trading, THE
New England sailing masters took
their ships out to China with eargoei
Of miscellaneous manufactures and
brought back rich silks. tea ana mans
another -coiIltpodity. When the fasl
sailing clipper ship was developed, thu
iChtha7 voyage was made from Boston
New Bedford. Salem, New Y ork, Phil.
adelphia anu Baltitnstetein no shoti
a space OF time that THE sea-farina
world gasped.ss In those-dnys, the sitps
sailed across4the Atlantic and around
the Cape Of Good Hope, Now stht
American China trade will move froR
the Atlantic uoastathroaEls tho Pan.
anna canal and direct across the ~
lcaffi ts from west coast ports
ANswIsss TosQUEsrfoNs.
on How much wculdsit be posslbl,
Ito add to the crepgS%Of5the9faf aim