Evening star. [volume] (Washington, D.C.) 1854-1972, 1931-01-03
FOREIGN TRADERS
INVITED TO FARLEY
Annual Convention to Be Held
in New York City
Next May.
BY JOHN F. SINCLAIR.

bL JOhN r. SANOLAAhs
Special Dispatch to The star.
NEW YORK, January Oscar X
Davis, secretary Of the National Foreign
Trade Council, has written to this
column to say that for the first time
since its foundation in 1914, the council
will hold its annual convention of
American foreign traders in New York
City next May. and arrangements are
being made TO accommodate the largest
gathering ever held. n
The council recently estimated that
American exports for 1880 where S.
$50, 900, 900, and imports about $3,0S0,-
000, 000-a drop OF IS per cent and 81
per cent, respectively, under the fig-
ures of 1929 Mr.. Davis points out that
Americas foreign trade is still 80 per
cent more than before the Great War.
Its recession in volume during 1880
was only between IL and Is per cent,
and both export and import prices
for the year were fully is per cent
lower.
Trade Policies.
Many Americans have expressed
themselves against an expansion of for
eign trade If it must be accompanied
by either an extension of credits to
tariff laws to enable foreign countries
to send their goods in exchange for
ours. But one or the other, or COM
bination of both of these policies, must
be recognized or Americas foreign trade
must sink back and the leadership in
world trade expansion taken over by
some other nation.
If these foreign nations want to buy.
our goods, let them pay for them in
gold" said an American, who believes
in every transaction being closed on
such a basis. But is this possible? If
foreign nations have to send gold to
pay for American goods, they would
have to pay out more gold than they
owned last year. If the world has to
settle even its present foreign debts, it
could not pay in gold more than
cents on the dollar. Then what?
No, the only sensible thing is to rec
ognize that international trade will
grow and expand to the degree that
one nation trades its goods for those
Of another nation. If this is not done,
then world trade must recede, which in
turn win bring lowering of the stand
ards of living OF every nation on earth.
No organization in the United States
Is doing mere effective work to show
the importance Of foreign trade than
the National Foreign Trade Council.
Insurance Payments.
Think of $4,000 5000 cash pay
ments being made to insurance EFlicy
holders and beneflciaries in the United
States for 1890! That's the estimate Of
B. d. Flynn, actuary of the Travellers
Insurance Co. It is about 5000, 000, 900
more than in 1929.
Roughly speaking, this is divided
about as follows: A little over $4,000
~ h. Nnl for
life, accident liability and compensa-
ton insurance; the remainder was
paid out insurance on property.
About $500 900 900 went for payments
for personal injury accidents Fire,
windstorm, collision. burglary, embez-
element, explosion and other property
hazards were responsible for nearly
0,000, 900 payments. The automobile
count for around $270, 900 600.
THE increase of around 10 per cent
In insurance benefits has been made in
q year when income from some sources
has been less than during the previous
year." says Mr.. Flynn. "These billions
paid out have been an important factor
In the sterilization Of business condi-
tons"
SmOkeIess City.
Is Winnipeg, Canada, to have the
honor of being the first coalless, smoke
less city? Many students of heating
think it is.
J. @. Glassco, head of the Winnipeg
central heating plant, has this in mind
in his plans for a million-dollar addi-
ton to the municipality owned heating
plant, in order to carry heat to the res
licences In the suburbs. The city today
Is heating about 200 buildings and many
suburban homes, but the demand for
expansion of these facilities has come
from every section of the city.
A new $1,000, 900 power plant is being
built at Slave Falls, Manitoba, and when
this is completed Mr.. Glassco plans to
use the surplus power for this work.
Many private concerns are now enter
ing this field and the city council has
before II several requests for permission
TO erect heating plants in various parts
Of the city.
1t is expected that in the next few
years the whole city will be connected
through system of central heating
zones.
Mr.. Glassco estimates that decrease
OF from IL to 90 per cent in the cost of
heating homes will result, besides elm
mating coal smoke. ashes, chimneys and
furnaces, besides big saving in the
IRE hazard.
Tobacco Industry.
The tobacco industry showed remark
able strength in 1880 It largely CEN
ters about the growth of cigarette
smoking What would the grandmoth-
ers of yesterday have thought had they
known that during the past IS years
the annual production Of cigarettes in
the United States had grown from
1Sl cigarettes per capita to IT'S in 1929,
and $40 IN 1930-an increase of over
500 per cent in IS years.
The increase in cigarette smoking by
women Is largely responsible for these
record-breaking figures. One hundred
billion cigarettes we're made in the
United States for the first 10 months
of 1880, an increase of 1.24 per cent
over 1929. About 8 per cent are ex-
ported. the balance being consumed in
the United States
During the year the Federal Govern
ment received more than $1,000, 900
each day in revenue from the cigarette
tax-about SO per capita, and the whole
tobacco industry paid the Federal Gov
eminent $3.50, 600, 900 for the year end
ing June 30, last, an increase of over
$l6,000,000 over the preceding year.
The world production of tobacco in
1929 totaled 1900 900 900 pounds, OF
which the United States produced
nearly two-thirds. And the outlook for
the future looks even more abundant
copyright. 1881, BY North American News.
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