The Indianapolis times. [volume] (Indianapolis [Ind.]) 1922-1965, 1932-04-04
Trade Worth billions

While America looks for way out Of depression
and Secretary Of State Stimson departs for the Ge
neya disarmament conference one simple road to
trade revival and peace remains neglected. More
than any other single act a restoration of friendly
trade relations with Russia would improve business
and quiet threats of world war.
It is doubtful If there anything else the United
States can do at the moment which materially will
check the forces in the far east or prevent the
eventual spread Of those to Europe Unfriend-
ly Russo-American relations virtual invitation to
Japan to continue her aggression into Siberia.
The dollar and cents argument for better rela-
tons with Russia is unanswerabe.
One reason for our depression is the loss of for
eign trade. AS President Hoover and others demon
sraed exports absorbed the 10 per cent of our pro-
auction which the margin between prosperity
and depression between profit and no profit That
surplus, no longer sold abroad, now smothers US
Since 1929 foreign trade has been cut almost in
half
That diagnosis of part of our economic sickness is
clearer and easier to find remedy. Those who ad-
Nse us to turn back and concentrate on the domestic
N1rket admit that this has not svailed during the
.lst two years
They admit, further, that there slight possibility
of the domestic market in the near future requiring
the full output of our factories and labor power.
And those who hope for a revival of general for
cign trade admit that it is not in sight AS foreign
nations raise higher tariffs and trade barriers in re-
taation against the American tariff wall and as our
foreign debtors default upon their bonds the prospects
for general increase in American export grows less
favorable.
Russia is an excepton-the only important ex-
copton.
Russia needs and wants the goods our closed fac
tories and unemployed labor could produce
Russia pays her bills. Russia is the only European
nation in the postwar period with 100 per cent
record of meeting her trade obligations Russia, in
ten years of dealing with hundreds Of American cor
porations and buying hundreds of millions of dollars
worth OF American products has defaulted one
cent.
Russia is the only important American market in
which the trade balance is overwhelmingly in our
favor-she has been spending five dollars in this
country for every dollar spend in Russia.
Russian trade is not only SAFE sure and profitable
it also is almost completely noncompettve with
American products. Except for a small coal trade
and other minor items the things we buy from Rus
sian in the favorable Stool exchange are materials
not produced in America
WIN that rich Russian market waiting for us,
an intelligent America might be expected to take adj
vantage OF it-or at least depression-ridden Amer
lea might be expected to grasp those offered orders for
business.
Instead are killing Russian business Two
years ago Russia was our seventh best customer
During January and February, 1880, Russia placed
s24,OOO,000 worth of business here compared with
little more than million in the same period this
year. That business has gone to Germany and
England-while our factories are idle
American business men who want orders and
American workers who want jobs should ask their
government to send a delegation to Russia to make
a billion-dollar trade agreement