The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1927-12-02
FOREIGN TRADE
BOOMS INDIANA,
EXPERTS VIEW
State Helped by Europe'S
Recovery, DR.. Klein
Tells Chamber.


Rapid recovery Of Europe, Amer
ica's best customer, is giving impetus
to industrial activity in Indianap-
oils and all sections Of Indiana, DR..
Julius Klein, director of the Bureau
OF Foreign and Domestic Commerce,
Department of Commerce, Wash
ington, told the Indianapolis Cham
Der Of Commerce at luncheon to-
day.
"Every mill, and factory in the
United States has an interest In
Europe's comeback not only be-
cause she is the largest buyer of
our goods, but because she is also,
by all odds, our most formidable
competitor" said DIR. Klein.
State in Envied Place
'The manufactures of Indiana in
1925 were valued at $2,125, 00G,O 600.
The State of Indiana, and incident
ally indianapolis, in the mainte-
nance of her foreign trade and IN
it's expansion, will be evident when
you consider the commodities and
volume involved. According to lat
test census figures, the principal in
dustries of the State and city are
iron and steel and foundry and ma
chine shop products; motor vehicles,
and meat packing in all its phases.
"The entire country in 1925 pro-
duced just under 81 800, DOC, 900
worth of these commodities, and ex-
ported some $90o,0O0,000, or little
less than 8 per cent. The share OF
Indiana in the production OF these
commodities was $650,000,000, of
which $S5 100000 or some 5 per cent,
were shipped abroad.
"Tfere is room for advance in ex-
porting the full share Of your eStab-
lishments. But even with the for
eign trade you have, just consider
what any substantial variation In
this trade would mean to the wages
of the 281 900 industrial workers OF
the State, with annual earnings OF
1865 900 ,0O0) nearly $4,000 of whom
are in Indianapolis earning every
year $51, 100000, to the retailers
who serve the needs of all these
workers; and finally, to the dividend
checks of those who have invested
in the 4,772 industrial establish
ments In the State, Of which 756
are in Indianapolis.
Traces Indiana's Growth
~The prominent position Of your
State in industry and commerce IS
in striking contrast with the situa-
ton when the military pest at Vim
cennes was founded by the Jesuit
Fathers in 1871, and with that when
Indiana was admitted to the Union
in 1861.
After system Of railroads and
canals began to be developed IN
1850, the mineral, agricultural and
industrial possibilities Of the State
were realized and the location OF the
capital city, near the great corn
belt, made it develop into an impor-
tant distributing point for corn,
while -four mills and pork packing
industry developed apace.
Indianapolis, located as she is
in the practical center OF both the
corn and wheat belts of America,
has become the second largest corn |
market In the United States, and
also an important wheat center. In
dianapolis is located advantageously
in the heart Of the richest buying
market outside Of New York. Your
100000 population has for its Sc
curity the surrounding farm land,
where great agricultural wealth
abounds, with 6O,000,00O prospective
buyers who can be reached over
night.
City Produces Much
Gwen so, foreign trade is becom-
ing increasingly important to you,
hence the usefulness of studying
the effect which Europe's economic
recovery will have on this trade.
GAS a producing center for indus
products generally, Indianapolis is
products generally, indianapolis in
interested in the recovery Of Flu
ropes buying power for those COM
modities. This buying power is Of
the utmost Importance, both in
terms of improving the market we
have in the Old World, which alb
sorbed $38,000,000 worth of Amer
lear machinery last year, and also
because of the industrialization Of
many new lands across the Pacific
and below the Equator, which are
reaching to improved European de-
mands for their raw materials and
are now in, a position to strengthen
their Industrial development"
DR.. Klein stated that international
business, which following 1920 led
practically nomadic life because
of the many short term trade trea-
ties In Europe, is gradually attain
ing assurance of something more
than "one-night stands" through
longer trade treaties. This, he said,
is bolstertng economic conditions in
Europe.