The Washington times., 1936-02-04

LNGSCU fAUtCI GIUJk CSkSOt 70 wv osSNfS
posts q. VlGdiuostock. Shanghai,
Stockholm and other ouerseGS
centerS. Until recently he tDGS
United States commerce GttGche
tDith the American Legation at
Belgrade.
BY EMIL KEKICH
Former United States Commerce Attache
NEW YORK, Feb, 4 U.S).
Americas foreign trade is not
merely question Of imports and
exports Of merchandise. This ex.
change Of goods is only part Of
our foreign trade.
In 1885, for example, the United
States exported $2,282 ,023, 900
worth of products to world mar
kets and imported foreign goods
valued at $2,O47,7 ,797, 900, the diff
ference leaving us a so-called
favorable balance Of trade Of
$244, ,000, 900.
Adverse Balance
Even if our exports and imports
balanced exactly, our foreign
trade, strange as it may be seen,
would be adverse. BY the time we
calculate what we have sent
abroad in tourist expenditures, in
charges of foreign shipping COM
panies for carrying our exports
and imports, in premiums to for
eign inSurances companies and in
capital tranSactionS-the excess
in favor Of foreigners Of their
purchases Of American securities
as against American purchases Of
foreign securities-we were finan.
cially in the red" We do not
know accurately how much the
dificits amounts to, but estimates
place it well over a billion dollars
for 1885.
Now it is a peculiar fact that
in the invisible items of foreign
trade the United States spends
more money abroad than any
other country. When Americans
are affluent these expenditures
are greater. But even in bad
times their extent is formidable.
This places the United States in
situation unlike that Of any
other country with respect to for
eign trade.
U. S. Held Easy Mark
This situation, aggravated In
1885 by great increases in imports
into the United States of grains
and preparations, staple food
Stuffs and manufactured articles
of the kind we make ourselves,
has obtained for many years. 1t
has caused us to be considered an
international easy mark diplo-
matte joke.
Few intelligent people advocate
completely isolated nationalism.
But no one can deny that the
prosperity Of America depends
upon its domestic business. This
is apparent when we consider
that Americas domestic business
alone equals half the business OF
the whole world. An increase Of
just a few per cent Of this bust
ness is equal to an increase Of 100
per cent in our exports.
A large measure Of the eco
nomic welfare Of countries trad
ing with the United States Is de
pendent on the prosperity OF
Americans. If Americans have
money, they produce and con.
sumo. In that process they in
crease their purchases abroad OF
the materials they require. Thus
Americans, having taken care OF
their own, are then in much bet
ter position to deliver to the world
the Surpluses which are in de
mand of their quality merchan
disc.
Foreign nations cannot give
America prosperity. Americans
must create prosperity for them
selves. If they buy the products
made in America, the only way
to make wage payments and in
come, they take the first 1unda
mental step to recovery.
Fight For Own
It is, in fact, the right OF
Americans to hold their market
against the invasion by the type
of foreign goods which can and
would destroy them as surely as
an armed enemy. America has
no apologies to make to foreign
countries. Until these countries
come back to e spirit of give
and take, until they give some
thing in return for the enormous
benefits they get from Ameri
cans, it will be necessary fol
Americans to fight for their own
preservation.
Foreign nations are not going
to be disposed to cooperate to
ward a happier, friendlier eco
nomic intercourse with the
United States until they are con
vinced we have stopped being
an international dupe.
We can begin to do that by
VpaaSsinoNN