The Washington times., 1924-02-02
DAWES REPORT.
To INFLUENCE !
US. TRADE
Business Men Looking Fol +
ward to Committee Re-
port, Says w. K. Knox.
BY w. s. COUSINS.
Copyright, 1924, by Cosmopolitan
: News Service.1


NEW YORK, Feb, "A true and
Understandable picture of economic
and Industrial conditions in Ger
many will be presented by General
Dawes and his unofficial American
committee, the result of which will
have a tremendous influence on the
immediate future of American bust-
ness with central European coun-
tries, William H. Knox, president Of
the Importers and Exporters Asso-
citation, said today.
Business men in all countries"
said Mr.. Knox, "are counting with
expectancy on the work Of the
the facts as it finds them, whether
favorable or unfavorable, and its
concerns will be an important factor
in determining future trade policies
between the nations of the world"
U. s. Exports Large.
It is possible to expect a full re-
sumption of trade relations with the
central European countries until
q workable plan has heen devised
for stabilization Of their currencies
and the consequent renewal of the
purchasing power of their people.
Reports Of the Department of Com
merce show. that exports to central
Europe are in the nature OF urgent
raw materials and semi-finished raw
materials. That some progress has
been made in this direction is seen
from the latest expert statement OF
the Commerce Department, which
indicates that 80 per cent of the
total American exports are going to
Europe.
The unanimous opinion Of Ameri-
can. business men is that the busi-
ness of the world is being held back
by the inability to adjust the politi-
cal affairs of Europe.
''No means have yet been devised
to solve European problems with a
proper regard for the needs OF busi-
ness and the essential requirements
of economic and industrial rehabiii-
tation,,r' Mr. Knox said. "But when
the people of Europe see that their
future welfare depends upon their
ability to reconstruct their economic
structure from the ground UP, we
will be getting somewhere"
Stable Currencies Urged.
Emphasis should be put on the
the exchanges of the principal Eu-
ropean countries also imposes an
almost insurmountable barrier to
the interchange of commodities. par
ticuIarly those using sterling as the
medium of exchange. Not only the
British Isles, but Australia, New
Zealand, British India and many of
the South American countries enl-
ploy the British currency standards
in their domestic and foreign trade,
and the rapid fluctuations in ex-
change rates, as compared with
other currencies, greatly confuses
their calculations. and. when falling,
curtails purchasing power. The re-
suit is that such countries confine
their purchasing of commodities to
each other. and form a trade ring
into which other countries with
stable currencies cannot enter.
The American dollar. Mr.. Knox
points out, is the most expensive
commodity in' the world. Some
countries it is not nurrha sable
on any rational terms, as mea surei
against the currencies in common
Use there. However advantageous
this may he to the individual >pur-
chaser Of foreign goods in a foreign
land. It is deterrent factor in for
eien commerce. The shelves of the
world are bare. and needs Of the
consuming public in all civilized
lands are great: hut world business
five years after the close Of the
world war is retarded by political
n~0h1enns arising from the terms Of
the Versailles treaty